According to the new Market research “Sports Medicine Market by Product (Implants, Arthroscopy, Prosthetic, Orthobiologics, Braces, Compression Clothing, Physiotherapy (Thermal, Ultrasound), Bandages & Tapes), Application (Knee, Shoulder, Elbow) – Global Forecast to 2022″, The global sports medicine market is projected to reach USD 8.24 Billion by 2022 from USD 5.78 Billion in 2017, at a CAGR of 7.4% during the forecast period.
The key factors driving the growth of this market include increasing incidence of sports injuries, continuous influx of new products & treatment modalities, and developments in the field of regenerative medicine. However, the high cost of orthopedic implants may hinder the growth of this market to a certain extent.
By product, the body reconstruction products segment to account for the largest share of the market in 2017
On the basis of product, the sports medicine market is broadly segmented into body reconstruction products, body support & recovery products, and accessories. In 2017, the body reconstruction products segment is expected to account for the largest share of the market owing to the increasing use of fracture and ligament devices and arthroscopy devices for minimally invasive surgeries. The body reconstruction products segment is further categorized into implants, fracture & ligament repair devices, arthroscopy devices, prosthetics, and orthobiologics. In 2017, the fracture & ligament repair devices segment is expected to account for the largest share of the market. The body support & recovery products segment is further divided into braces and supports, compression clothing, and physiotherapy equipment. In 2017, the braces and supports segment is expected to account for the largest share of the body support & recovery products market. The physiotherapy equipment segment is further categorized into thermal therapy, electrostimulation, and other therapies.
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By application, the knee injuries segment to hold the largest market share in 2017
Based on application, the market is segmented into shoulder, foot and ankle, elbow and wrist, back and spine, hip and groin, knee, and other injuries (head, face, and finger injuries). In 2017, the knee injuries segment is estimated to command the largest share of the sports medicine market. Growth in the knee injuries segment can be attributed to the increasing participation in sports like football and basketball at a younger age, resulting in high prevalence of knee injuries.
North America to dominate the market in 2017
In 2017, North America is expected to account for the largest share of the sports medicine market, followed by Europe, Asia Pacific (APAC), and the Rest of the World (Latin America and the Middle East & Africa). In the US, the increasing popularity of sports & physical activity and efforts to create awareness for the management of sports are the major growth factors. In Canada, market growth is mainly driven by continued government support for sports medicine.
The sports medicine market in several APAC countries, particularly China, Japan, India, and Australia, is expected to witness high growth during the forecast period. This can be attributed to the influx of international players, government initiatives to promote sports medicine, and collaborations for sports medicine research are some of the major factors boosting market growth in Asia Pacific.
Arthrex (US), Smith & Nephew (UK), DePuy Synthes (US), Stryker (US), CONMED (US), Zimmer Biomet. (US), Breg (US), DJO Global (US)are among a few major players in the sports medicine market.
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