Global Sports Medicine Market Is Expected To Reach USD 9.10 Billion by 2024, Due To an Increasing Trend among Younger Generation to Participate In Sports Activities
Healthcare Intelligence Markets offers its latest published report ‘Global Sports Medicine Market by Product Type (Arthroscopy Devices, Implants, Prosthetics, Braces and Supports, Electrostimulation, Orthobiologics, Accessories, and Others (Physiotherapy Equipment, Thermal Therapy)); by Application (Knee Injuries, Shoulder Injuries, Ankle and Foot Injuries, Elbow and Wrist Injuries, and Others (Hip Injuries, Back and Spine Injuries)); Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) ) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 – 2026’. The author of the report analyzed that the global sports medicine market accounted for US$ 5.60 billion in 2017. The market players are indulging in strategic research and development activities to bring down the prevailing costs for these medical treatments, this has led to an increasing awareness about the less expensive services that are available. This factor is majorly driving the growth and demand of the market.
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With the advent of advanced health monitoring accessories, such as wearable devices and wrist bands that monitors an individual’s heart rate, blood pressure and other aspects has served to be a fortune in terms of creating a safe participation in sports and other physical activities. These technological advancements have implored the adoption of sports medicine services. For instance, the Vancouver based International Federation of Sports Physical Therapy (IFSPT) is a global federation deploying around twenty nine physical therapies, serving people of all ages to deliver clinical specialization. The consumption of over-the-counter supplements by athletes has mandated governments to refurbish their laws related to these product usage and is therefore, hindering the growth of the market. The key players are investing more and more in developing organic products through their increasing merger and acquisition activities with their fellow competitors, which is opening new opportunistic dimensions for entrants to establish themselves in the global market.
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Sports medicine market is demonstrating huge revenue generation in terms of their Application Type
The growing number of geriatric population all over the world has led to an increasing adoption of orthopedic surgeries and the influx of international players along with their initiatives to promote themselves by collaborating with the other key players has resulted in the development of more effective and low-cost services. These factors are impelling the growth of the market.
The major regions are anticipated to hold a significant market share in the global market
Rapid industrialization and rising disposable income of people in the developing countries like India and China has empowered people to spend on getting advanced and accurate treatments and consultations. The rising awareness about the various therapeutic programs brought in by the government has led to its rising adoption among the global regions.
Global Sports medicine market is dominated by the presence of Global and Regional Players
Some of the significant players functioning in the global sports medicine market are Active Implants, Arthrex, Inc, ASICS Corporation, Azellon, Bioventus, Breg, Inc., CONMED Corporation., DePuy Synthes, DJO, LLC, GE Healthcare, Mueller Sports Medicine, Inc., Performance Health, RTI Surgical, Inc, Smith & Nephew., Stryker, Wright Medical Group N.V., Zimmer Biomet, and MedShape, Inc. amongst others.
Mueller Sports Medicine, Inc. is a key manufacturer of body support products such as ankle braces and support, wrist immobilization system, back supports, etc., which are supplied supplying professional and amateur sports teams and medical professionals including physiotherapists and sports injury during their clinical trials.
Global Sports Medicine Market – By Product Type
• Arthroscopy Devices
• Braces and Supports
o Physiotherapy Equipment
o Thermal Therapy
Global Sports Medicine Market – By Application
• Knee Injuries
• Shoulder Injuries
• Ankle and Foot Injuries
• Elbow and Wrist Injuries
o Hip Injuries
o Back and Spine Injuries
Global Sports Medicine Market – By Region
• North America
§ Rest of North America
§ The UK
§ Rest of Europe
• Asia Pacific
§ Southeast Asia
§ Rest of Asia Pacific
• Middle East and Africa
§ GCC Countries
§ Southern Africa
§ Rest of Middle East and Africa
• Latin America
§ Rest of Latin America
The report provides both, subjective and quantitative research of the market, as well as integrates worthy insights into the rational scenario and favored development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as M&A, affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their headquarter base, competitors, product type, application and specification, pricing, and gross margin.