The Asia Pacific Sports medicine market is valued at $2.75 billion for the year 2014 and is expected to reach $3.85 billion by the end of 2019. The market is estimated to grow at a CAGR of 6.96% during the period of 2014-2019.
Rising incidence of sport related injuries are driving the market growth. Awareness among athletes to maintain their fitness levels has been a factor in promoting the growth of the Sport medicine market in Asia Pacific.
Lack of skilled labor in the Asia Pacific region has been a major setback hindering the growth of the Sports Medicine market in this region.
The global sports medicine market is segmented into four categories namely on the basis of the treatment procedure, type of product, on the basis of target area and finally on the grounds of geography.
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The Sports medicine market in the Asia Pacific region is prominent in China, India, Japan and South Korea. China accounts for the biggest market in this region. Statistics show that sport related injuries constitute nearly 5% of the injuries suffered by the population in China. This is a very high number considering the fact that China has the highest population in the world. Closely following China is India with a share of 3.8% of injuries which are sport related. The market in this region is at the starting stages. High growth is expected from these regions in the near future. APAC market is expected to cross the European market by 2020. Following India, Japan and South Korea hold the larger market share among others.
The major players in the sports medicine market are 3M, Arthrex, Arthrocare, Biomet, Bird and Cronin.Inc, Conmed Corporation, DePuy Mitek.Inc, Mueller Sports Medicine.Inc, Ossur, Smith & Nephews, Stryker Corporation, Wright Medical Technology and Zimmer Holdings.
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