The sports medicine devices market accounted to US$ 5,822.6 Mn in 2017 and is expected to grow at a CAGR of 7.9% during the forecast period 2018 – 2025, to account to US$ 10,662.5 Mn by 2025. According to The Insight Partners market research study titled ‘Sports Medicine Devices Market – Global Analysis and Forecasts By Product and Application. The report highlights the trends prevalent in the global sports medicine devices market and the factors driving the market along with those that act as deterrents to its growth.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American Sports Medicine Devices market is driven by the factors such as, rise in the number of sports injuries as well as the presence of major associations working in the field of sports medicine in the region.
The market for sports medicine devices is expected to grow significantly due to Increasing Incidences of Sports Injuries, rising demand for minimally invasive methods as well as the presence of various sports medicine associations. In addition, the introduction of advanced technology in the field of sports medicine devices is anticipated to have a positive impact on the growth of the sports medicine devices market in the coming years.
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Increasing Incidences of Sports Injuries
The increase in the incidences of the sports injuries is contributed by the professional athlete, weekend sports players, youngster, children playing in the societies and sometime adults. Most of the sports injuries are orthopedic injuries which include sprain, strain, fractures, ligament breaks, pain, swelling and others. These injuries are broadly classified as acute and chronic. As per the Federation Internationale de Football Association (FIFA), ankle sprain is most widely experienced injuries caused in the football players across the world. In US, approximately 240,000 injuries were treated in the emergency department and among them approximately 48,810 cases were for fractures and near 79,400 cases were for strain and sprains and also there were 5,000 cases for the dislocations.
Rising Demand for Minimally Invasive Methods
The injuries in the sports are minor most of the times and in cases of the major injuries orthopedic doctors try to avoid surgical treatments. Most of the time minor injuries can be treated with minimally invasive methods such as physical therapy, bracing & casting, acupuncture, arthroscopic surgery, sports medicine. These treatments are less invasive than surgical procedures and generally requires shorter recovery period. These options of the minimally invasive methods are cost effective and are widely preferred due to the less recovery time and are easy to adapt by the patients.
Product Insights
The global sports medicine devices market by product was led by body reconstruction and repair segment. In 2017, the body reconstruction and repair segment held a largest market share of 44.6% of the sports medicine devices market, by product. The segment is also expected to dominate the market during the year 2025, due to benefits such as, reduce pain, reduce swelling, better functioning, repairing of the damaged body part.
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Application Insights
The sports medicine devices market by application was segmented elbow & wrist, shoulder, knee, ankle/foot and others. The knee segment held the largest share of the market, by application. The segment is also likely to dominate during the forecast period, since most of the injuries occurring to athletes occurs in the knee or the ankle.
Product launches and partnership were observed as the most adopted strategy in global sports medicine devices industry. Few of the product approvals and agreements made by the players in the market are listed below:
2018:
In November, 2018, DJO entered into partnership with SirenMD, a workplace collaboration platform which facilitates coordinated communication between caregivers and patient advocates.
2018:
In July, 2018, Wright Medical Group N.V launched PROstep Minimally Invasive Surgery System. The system provides a minimally invasive, integrated solution that featuring specifically designed implants and instrumentation for percutaneous surgery of the foot.
Some of the prominent players operating in sports medicine devices market are DJO Global, Zimmer Biomet, STRYKER, Smith & Nephew, DePuy Synthes, Wright Medical Group N.V., Arthrex, Inc., CONMED Corporation, Mueller Sports Medicine, Inc., and RTI Surgical, Inc. The market players are focused towards introducing new and innovative products in the market to sustain their position in the market. For instance, in July, 2018, Wright Medical Group N.V launched PROstep Minimally Invasive Surgery System. The system provides a minimally invasive, that involves specially designed implants and instrumentation for percutaneous surgery of the foot. These product innovations and launches are expected to propel the growth of the sports medicine devices market during the forecast period.
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