Sports Medicine Market: High cost of orthopedic implants and other devices
The study involved four major activities to estimate the current market size for sports medicine. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and subsegments
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Major Market Growth Drivers:
Growth in the Body Recovery Market is primarily driven by factors such the increasing incidences of sports injuries, continuous influx of new products & treatment modalities, developments in the field of regenerative medicine, rising demand for minimally invasive surgeries.
Revenue Growth Analysis:
The sports medicine market is expected to grow from USD 5.5 billion in 2020 to USD 7.2 billion by 2025, at a CAGR of 5.7% during the forecast period.
Browse and in-depth TOC on” Sports Medicine Market”
245 – Tables
38 – Figures
266 – Pages
Body support & recovery products expected to grow at the highest rate during the forecast period
On the basis of products, the Body Recovery Market is segmented into body reconstruction products (fracture & ligament repair products, arthroscopy devices, implants, prosthetics, orthobiologics), body support & recovery products (braces & support, physiotherapy equipment, and compression clothing), and accessories. The body support & recovery products segment is expected to witness the fastest growth during the forecast period.
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The Hospitals segment is expected to account for the largest share during the forecast period.
Based on end user segment, the Sports medicine products market is segmented into Hospitals, Ambulatory Surgery centres and Physiotherapy Centres and Clinics. The hospitals segment accounted for the largest share of the sports medicine market. The large share of this segment can be attributed to factors like Complex diagnostic and therapeutic procedures being carried out in hospitals.
North America is expected to dominate the sports medicine products market during the forecast period
Geographically, North America is expected to dominate the global sports medicine devices market in 2018, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the growth of the sports industry and overall participation in sports. Sporting events such as the 2008 Beijing Olympics, 2018 Winter Olympics in Korea, and the upcoming 2020 Summer Olympics in Japan have increased the level of interest in sports in Asia.
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Key Orthopedic Bracing Market Players:
The key players operating in the global Orthopedic Bracing Market are Arthrex, Inc (US), Smith & Nephew plc (UK), Stryker Corporation (US), Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany), and Bauerfeind AG (US), Össur (Iceland), MedShape (US), Cramer Products (US), Biotek ( India), RôG Sports Medicine (US).