global Sports Medicine Market by Product Global Analysis & Forecast By 2030
Market Industry Reports (MIR) has published a new report titled “Sports Medicine Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global sports medicine market is estimated to be over US$ 5 Bn in 2017. It is anticipated to grow at a considerable CAGR from 2019 to 2030.
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Companies are expected to collaborate leading to oligopolistic market with focus on areas of advertising marketing, and the product differentiation. For instance, company named ArthroCare was acquired by the Smiths & Nephew in 2014. Post the acquisition, product portfolio was organized, likely to increase revenue and also broaden the product pipeline.
Major players in the sports medicine market are Zimmer Biomet, Stryker Corporation, Smiths & Nephew, Arthrex, Tornier N.V., DePuy Mitek, Ossur HF, ArthroCare, Wright Medical Technology and DJO Global. Other players include; Otto Bock Healthcare, Conmed, Aesculap AG, Argomedical AG, BioPro Inc. and Acumed LLC.
Sport injuries to propel the market growth
Increasing incidences of knee injuries caused in sports and constant wear and tear of muscle and tissue in sports athlete that require sports medicine are some of the major factor driving the growth of the sports medicine market. According to a study in the British Journal of Sports Medicine, knees are the most regularly injured body parts in a game with almost 31.0% of all sports injuries are associated with the knees and almost 34.0% are associated with the head, neck and shoulder.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Sports Medicine Market by Product (Body Reconstruction Products (Arthroscopy, Implants & Orthobiologics, Prosthetics, Facture & Ligament Repair), Body Support and Recovery Products (Braces & Support, Physiotherapy), Application (Knee, Shoulder, Spine, Foot & Ankle, Hip Injures) – Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/9/sports-medicine-market
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Decreased Budget allocation to sports is expected to restrict the market growth
Growth of sports medicine market is expected to slow down due to decreased budget allocation for sports. Furthermore, lack of reimbursement policies for academic sports injuries is expected to apply brakes on the market growth in coming years. However, the introduction of novel prosthetic and implant and development of performance monitoring or intensive care equipment are expected to create enough of opportunities in the market. Rising incidences of sports injuries in the developing countries of Asia Pacific and another region of the market is further leading to the market growth.
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