The Market For Global Sports Medicine Market Is Expected To Grow At CAGR 8.9% From 2017 To 2024.
Data Bridge Market Research new Insight’s on “Global Sports Medicine Market is projected to reach 34.7 billion by 2024, from USD 16.6 billion in 2016 growing at a CAGR of 8.9% during the forecast period of 2017 to 2024”.
The market is segmented By Product Type (Orthobiologics (Bone Graft Substitutes, Viscosupplementation, BMC, PRP), Surgical Devices (Plates and Screws), Arthroscopy Devices, Orthopaedic Braces and Supports), By Body Area (Knee, Hip, Shoulder & Elbow, Foot & Ankle, Wrist & Hand), By End Users (Orthopaedic Clinics, Hospitals, Ambulatory Surgical Centers, Others), By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Trends and Forecast to 2024
The actual calculation year for the report in 2016, while the historic data is for 2015 and the forecast period is still 2024.
Global Sports Medicine Market: Recent Developments
Sports medicines are used to prevent, treat, diagnose, and rehabilitate injured patients related to exercise, sports, or any other physical activity. Factors such as rising incidence of new product launches, sports injuries, and developments, innovations in the field of regenerative medicine and expansion by key players in the emerging economies are expected to drive the growth of the sports medicine market.
The increasing trend of arthroscopic surgeries is expected to drive the sports medicine market in the forecast period. With increasing trend towards sports as a profession the importance of sports medicine is constantly increasing along with the investment in research and development of these products.
Presently arthroscopy procedures are the best solution in sports medicine but due to change in coming years with more emphasis being laid in regenerative and biologics technologies to treat broken cartilages and bones. Technologies such as platelet rich plasma, bone marrow concentrate, and other upcoming technologies are expected to drive the sports medicine market in the future. Due to very low clinical evidences and high regulations on research of biologics the arthroscopy procedures will still dominate the market in the forecast period to 2024.
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Global Sports Medicine Market Categories: Segmentation
The market is segmented on the basis of product type, body area, type, end-user, and geography.
On the basis of product type the market is segmented into orthobiologics, surgical devices, arthroscopy devices and orthopedic braces and supports. Orthobiologics are biomaterials or synthetic used as fillers or separately to align or reconstruct broken bones.
On the basis of body area into knee, hip, shoulder and elbow, foot and ankle and, hand and wrist. The hip and knee segment is expected to dominate the market with more than 55% market share in 2017, and this trend is expected to continue in the forecasted years 2017 to 2024.
On the basis of end-users the market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers and others. The orthopedic clinics segment is expected to hold the major share of this market in 2015, owing to increased day care surgeries over inpatient arthroscopy procedures in developed markets.
Global Sports Medicine Market: Geographic Segmentation
Based on geography the market is segmented into 7 geographical regions, North America, Latin America, Europe, Asia-Pacific, Japan and Middle East and Africa. The geographical regions are further segmented into major countries such as U.S. Canada,Brazil, Argentina, Nordics,Benelux, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Australia and New Zealand, Brazil, India, Russia, South Africa and many others.
Global Sports Medicine Market: Company Share Analysis
The global sports medicine market report contains an in-depth profiling of the key market players, along with the recent developments (new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Some of the major players operating in this market are Arthrex, Inc., Smith and Nephew, Medtronic, Stryker, Conmed Corporation, Zimmer, Inc., DJO Global, Ossur Corporate, Ottobock Healthcare GmbH, Breg, Inc., Tornier, Inc., Mueller Sports Medicine, Inc., Cramer Products, Inc., RTI Surgical, ArthroCare, Biomet, Bird and Cronin, Inc., Cayenne Medical, Inc., DePuyMitek, Inc., Ossur and many others.
Some of the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others. In June 2016, DJO Global, a leading global provider of medical technologies, launched the Clima-Flex OA Knee Brace offering a new level of comfortable cooling relief through compression and offloading for patients with mild to moderate osteoarthritis knee pain.
Other Market Insights:
Global Orthopedic Braces and Supports Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 6.6% in the forecast period 2017 to 2024, expected to reach USD 5.91% Billion by 2024.
Global Hip Replacement Implants Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 3.6% in the forecast period 2017 to 2024, expected to reach USD 7.1% Billion by 2024.
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