Sports Medicine Market is Expected to Represent US$ 8.4 Bn by 2022
Sports medicine, an upcoming healthcare field, involves the treatment of various injuries related to sports along with athlete evaluation with a view to improve the athletic performance. Sports sector has witnessed large participation of population in sports. The growth of the sports medicine market can be primarily attributed to the increasing sports injuries. Another aspect that is pushing the growth of the global sports medicine market is the growing technological advancements in the medicine and medical devices sectors that is introducing new products in the market. This has triggered the adoption of sports medicine by consumers on a large scale, thus widening its scope in various application areas. Moreover, influx of new modalities coupled with innovations in the field of regenerative medicine and allografts have contributed to the growth of the global market for sports medicine in recent years. Increasing number of players in the sports medicine, penetration of large players in this field, growing government support and increasing awareness are set to drive the growth of the sports medicine market. However, high prices are associated with sports medicine, especially orthopaedic implants which is challenging the growth of the global market.
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The comprehensive research report on “Sports Medicine Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022)”, skilfully crafted by Future Market Insights reveals various aspects of the global sports medicine market along with key product types and applications, the analysis of which can be used to achieve expansion milestones in the years to come. As per sports medicine market research study, projection is that the market is expected to expand at a robust CAGR of 7.4% throughout the 2017-2022 period of assessment.
4 Key Highlights on Global Sports Medicine Market
The global sports medicine market has been segmented by product type, by application and by region.
By application, the knee injury segment reflects high potential with respect to both market share and growth in the years to come. The prevalence of knee injuries is rising among the athlete population. This fact has called for quick and effective treatment of knee injuries, thus making it a more lucrative segment. The knee injury segment by application is anticipated to grow at the robust rate to reflect a market share of 32.3% as of 2017, thus leading the global market and this trend is anticipated to continue over the assessment period
The shoulder injury application segment is also gaining significant traction since last couple of years. This segment is projected to grow at a 7.4% CAGR during the period of forecast to reach a noteworthy market share by 2022 end. This segment stands second in terms of market value during 2017-2022 followed by ankle and foot injuries application category
North America is the largest and the most attractive region for the growth of the global sports medicine market pertaining to market share. The sports medicine market in North America region is projected to grow at CAGR more than 7.0% throughout the assessment period. With respect to market share, Europe stands second to North America growing at a high CAGR. Asia-Pacific excluding Japan (APEJ) region is also anticipated to show significant growth in the years to come
Body Reconstruction segment by product type is expected to lead the global market as it reflects a high market share of more than 40% as of 2017 growing at a robust CAGR throughout the period of forecast. Body support and recovery segment is the second largest segment during the assessment period
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Global sports Medicine Market: Competitive Scenario
The research report on global market for sports medicine has profiled several key players involved in sports medicine domain. Their detailed analysis with respect to product portfolio, company overview, recent developments and innovations, SWOT analysis and key financials has been included in this research report. Key players such as Arthrex, Inc., Smith & Nephew Plc., Stryker Corporation, CONMED Corporation, Zimmer Biomet Holdings, Inc., Mueller Sports Medicine, Inc., Wright Medical Group N.V., Medtronic Plc, Johnson & Johnson and Breg Inc., are profiled in this study.
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