Sports Medicine Market Growth at CAGR of 8.1%, 2018-2023 - Latest Challenges and Trends
Added: (Mon Dec 10 2018)
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Sports Medicine Market Overview
Sports medicine market consists of products and procedures that are used by both amateur and professional sportspersons all over the world. Typically, they help them in preventing and curing major ailments occurred due t76+he nature of the games. In some cases, they might enhance their performance also.
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Along with usual suspects like Rising Healthcare expenditure and general awareness among people, new factors like demand for minimally invasive surgeries and technological advancement in implants are acting as the driving forces of the Sports Medicine market. But high cost of new procedures and sub-standard infrastructure in some developing countries are constraining the growth of the market.
Sports Medicine Market Forecast Report (2018-2023)
Global Sports Medicine Market was worth $7.23 billion in 2018 and estimated to be growing at a CAGR of 8.1%, to reach $10.67 billion by 2023.
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Sports Medicine Market Segmentation
Global market for Sports Medicine is categorized by Type into Reconstruction and Repair Products and Support and Recovery Products. Further Reconstruction and Repair Products are segmented into Implants, prosthetics, Arthroscopy, Fracture and Ligament repair and Orthobiologics while Support and Recovery Products are segmented as Braces, Compression clothing, Monitoring Devices, Topical Relief Pain and Thermal Therapy. Orthobiologics is the most promising segment of all, owing to rising global awareness of injuries in sports. USA, Europe and Japan with their dominant sporting cultures and developed economies occupy about three fourths of the market. In addition, By Application the market is analysed as Head injuries, Shoulder injuries, Elbow and Wrist injuries, Back and Spine injuries, Hip and groin injuries, Knee injuries and Foot and Ankle injuries.
Geographically, the Global Sports Medicine market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa and analysed individually along with individual stats for major countries. As mentioned earlier, USA is the leading force in the market but Asia has a huge potential, considering the population figures and growing incidences of sports related injuries.
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Major Players:
The major companies dominating this market for its products and services are
Smith & Nephew PLC,
Arthrex, Inc.,
Ossur hf,
Stryker Corporation,
Conmed Corporation,
Zimmer Biomet,
Holdings, Inc.,
Breg, Inc.,
Mueller Sports Medicine, Inc.,
Tornier, Inc.,
Skins International Trading AG,
Wright Medical Technology, Inc.,
DePuy Mitek, Inc.,
3M Company Ace Brand,
OttoBock Healthcare GmbH
DJO Global, Inc.
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