Sports medicine is a branch of medicine dealing with treatment and prevention of injuries that occur during sports activities, while performing exercises, or physical fitness training. Sports medicine devices therefore, comprise products and devices that help prevent, cure, and recover injuries such as fractures, sprains, joint dislocation, soft tissue damage, and musculoskeletal injuries caused due to physical activities. Sports medicine devices are used by professional and non-professional athletes and other sportspersons to enhance their performance, endurance, as well as protection.
The report assesses the global sports medicine devices market with respect to the available products. A detailed analysis of the market structure by identifying the various segments and sub-segments of the global sports medicine devices market has been given. Trends with respect to key geographies in the world have been assessed. The report identifies the drivers of the market along with the risks and opportunities impacting the industry. The scope of the study includes a competitive analysis of the market segments based on products from different regional markets
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The rising awareness among people regarding an active lifestyle and fitness and health management is leading to an increased participation in sport activities. The increased participation in sports is leading to a rise in the number of injuries and this is fueling the demand for sports medicine devices across the globe. Moreover, serious injuries are resulting in a demand for minimally invasive surgeries, which is driving the growth of the sports medicine devices market. Other factors leading to a growth in the market include conducive reimbursement facilities and innovative surgical technologies.
According to the report, the main driver for the growth of the global sports medicine devices market is the increasing count of sports injuries occurring around the world. This is caused by the proliferation of sports equipment, apparel, and facilities into the consumer markets, allowing a greater number of people to participate in sporting activities. People from different ages are increasingly becoming a part of sporting clubs or taking up physical activities due to the promotion of fitness products and apparel.
Other reasons for the growth of the global sports medicine devices market include the increasing attention paid to making treatment as cost-effective as possible, the growing percentage of the geriatric demographic, and the increasing disposable income among people.
However, the global sports medicine devices market is currently hindered by the unfavorable medical insurance coverage of sports-related injuries in developed economies.
The two major segments of the global sports medicine devices market are orthopedic products, and recovery and support products.
Orthopedic products are further divided into orthobiologics, prosthesis, fracture repair devices, arthroscopy devices, and artificial joint implants. In 2012, the worth of arthroscopy devices was close to US$1.59 bn, and this segment is progressing at a high CAGR of 5.8% from 2013 to 2019. Conversely, the slowest growth rate was attributed to the segments of prosthesis and accessories.
The report divides recovery and support products into performance monitoring devices, braces, recovery accessories, and other devices.
Geographically, the report segments the global sports medicine devices market into four major regions of North America, Europe, Asia Pacific, and the Rest of the World. In 2012, North America led the revenue generation charts in the global sports medicine devices market, with a net worth of US$2.48 bn. Investors and major players are currently looking to the developing economies of Asia Pacific and the Rest of the World, as these regions are showing promise of a rapidly expanding sports industry.
The global sports medicine devices market is progressing at a CAGR of 4.4% within a forecast period of 2013 to 2019. This market was recorded at US$6.1 bn in 2012 and is expected to reach US$8.28 bn by the end of 2019, according to leading market intelligence company, Transparency Market Research.The research report released by TMR, titled “Sports Medicine Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” perfectly encapsulates the critical factors responsible for the growth of this market. The report considers present age facts and augments them according to expected market trends in order to reach the given market predictions for 2019.
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The key players in the global sports medicine devices market are Zimmer Holdings, Inc., Wright Medical Technology, Inc., Stryker Corporation, Smith & Nephew PLC, Skins International Trading AG, OttoBock Healthcare GmbH, Ossur hf, Mueller Sports Medicine, Inc., DJO Global, Inc., DePuy Mitek, Inc., Conmed Corporation, BREG, Inc., Biomet, Inc., ArthroCare Corporation, Arthrex, Inc., and 3M Company Ace Brand.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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