Sports Medicine Market Size Worth $11.98 Billion By 2025 | CAGR: 7.5%
120 Pages | Published Date : 01 / 11 / 17 | Report Code: AV118 | Report Format: PDF
The global sports medicine market is expected to grow at growth rate of 7.5% to reach USD 11.98 billion by 2025.
Sports medicine includes the medicines that can be used for treatment and prevention of injuries related to the exercise and sports. Sports medicine is a broad team that involves kinesiologists, physiologists, athlete trainers, physical therapists, physical educators, and many others. The market for sports medicine is primarily driven by the rise in a number of sports injuries across the globe. According to the National Ski Areas Association (NSAA), around 56,714 people were injured while participating in the winter sports that required immediate attention. Winter sports included sports like snowboarding, snowmobiling, and ice skating.
The main objective of introducing sports medicine is to prevent and treat injuries caused to the participants while performing the sports activities. Thereby, a steady introduction of new treatment modalities and products is expected to surge in demand for sports medicine. This, in turn, is expected to drive the market growth. In addition to this, constant developments in regenerative medicine field are expected. This will establish a healthy platform for market growth during the forecast period in this sector. It is also noticed that many multinational companies are planning to increase their investment in the development of 3D printed orthopedic implants which support the market growth to great extent. For instance, in January 2017, Sweden based OssDsign AB received US FDA approval of 3D Printed Cranial Implant Technology to commercialize the product in the U.S. market.
This introduction is a definite approval as regards the products in this market arena. For instance, a product for cranial bone reconstruction will provide a healthy platform for future market growth. This product segment is divided into Body Monitoring, Body Reconstruction, Body Support, as well as the Sports Accessories. Body reconstruction and support devices collectively captured more than 50% share of the global market. High usage coupled with technological advancement has supported the market growth of these segments. Body monitoring segment is categorized as Cardiac, Hemodynamic, Musculoskeletal, and others. Body Reconstruction is further divided into Surgical equipment, Soft tissue repair, and Bone reconstruction devices. Body support device category is classified into various products like Braces devices, Compression clothing, and Hot & cold therapy. Hot and cold therapy is mainly used to control swelling. It also helps in dilating the blood vessels which supply ample blood to the site providing a stimulus to the process of healing the damaged tissue.
Accessories in this category include bandages, tapes, disinfectants, wraps, along with other instruments such as scissors, cutters, blister packs, etc. Bandages have dominated accessories segment in the year 2016. A sharp increase in incidents of injuries is observed. Thus, infection preventing product range is anticipated to contribute to the growth of this segment. Sports medicine market involving the application segment is categorized as Knees, Shoulders, Back & Spine, Hips, and Others. Knee devices accounted for the largest share of the global market in the year 2016. This segment is anticipated to maintain its leading position with a rising volume of knee surgeries.
Regionally, the market is categorized as North America, Europe, Asia Pacific, and Rest of the World. Around 49.36% share of the global market revenue is captured by North American countries, dominated by the U.S. market. Increase in a number of orthopedic procedures is anticipated owing to the high prevalence of accidents caused during a physical activity. This has supported the sports medicine market growth in this region. For instance, according to the CDC, around 51.4 million orthopedic procedures were performed in the U.S. in the year 2015. The highest prevalence of orthopedic conditions coupled with the high adoption of advanced treatment procedures is fuelling the growth of the market in the U.S.
Asia Pacific region is seen as a promising market growing at 9.1% growth rate over the forecast period. Countries such as India, Japan, and China exhibit their great potential to capture significant revenue share of the total Asia Pacific market. For example, Japan has the presence of a large number of implant manufacturers in this segment. The country has higher healthcare expenditure as compared to the other countries in the region. Moreover, the high adoption rate of the new technology and presence of various accident-prone individual sports in the region are expected to fuel the growth of the sports medicine market.
Companies such as Ossur HF, Smith & Nephew, Stryker, Conmed, Wright Medical Technology, and others are present in this market. Company merger & acquisition strategies are being utilized for expanding their geographic presence. It is important to note that Mergers and acquisitions also enable widening of product portfolio as well as the customer base of the companies.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
- Body Monitoring
- Body Reconstruction
- Surgical equipment
- Soft tissue repair
- Bone reconstruction devices
- Body Support
- Braces devices
- Compression clothing
- Hot & cold therapy
- Sports Accessories
- Other accessories
MARKET, BY APPLICATION
- Back & Spine
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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