[130 Pages Report, Forecast 2019-2026], The global sports medicine market size is predicted to USD 9.86 billion by 2026, exhibiting a CAGR of 5.8% during the forecast period. The rising prevalence of chronic conditions, including cardiovascular diseases and obesity, is escalating participation in sports activities. The sports medicine market stood at USD 6.26 billion in 2018. Combined with the market analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the market, and all articulated with geographical and merchandise segments.
North America stood at USD 2.60 billion in 2018 and is expected to grow rapidly during the forecast period. The increasing number of medical sports centers will aid the expansion of the market in North America. The growing participation in sports and physical activities by children will augment the healthy growth of the market in the region.
INDUSTRY DEVELOPMENT:
March 2019: Arthrex entered into a partnership with Clemson University, US, with an aim to provide 10 scholarships worth USD 7500 each, for students who will take courses and internships specifically tailored to the needs of the surgical device industry
September 2016: Stryker acquired Ivy Sports Medicine, LLC., with an aim to strength company’s product portfolio is comprised of a comprehensive minimally invasive meniscal repair platform.
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Acquisition of Ivy Sports Medicine by Stryker will Enable Speedy Market Expansion
The announcement of Stryker’s Endoscopy division, a visualization platform enabling distinguish anatomy across all minimally invasive procedures, acquired Ivy Sports Medicine, LLC, medical equipment production company. The acquisition will enable Stryker to provide customers with a complete meniscal platform to better serve their patients.
The agreement between the companies will boost the sports medicine market share owing to the portfolio of the company, which includes the only FDA-approved collagen meniscus implant (CMI) on the market a reliable and innovative all-inside repair device, as well as an inside-out meniscal suturing platform. In addition, the developing sports infrastructure, along with the growing patient pool in hospitals, will facilitate the growth of the market.
According to the EU IDB catalog of sports, about 4.5 million people aged 15 and above have been treated in hospital for a sports injury each year. In addition, the presence of opportunities such as corporate funding & scholarships for students will bode well for the market in the forthcoming years.
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Some of the Major Companies in the Sports Medicine Market Include:
- Arthrex, Inc.
- Smith & Nephew
- Stryker
- CONMED Corporation
- Zimmer Biomet
- Johnson & Johnson Services, Inc.
- KARL STORZ SE & Co. KG
- Other players
| Global Sports Medicine Market Scope
|
|
| Study Period | 2015-2026 |
| Base Year | 2018 |
| Forecast Period | 2019-2026 |
| Historical Period | 2015-2017 |
| Unit | Value (USD billion) |
| Segmentation | By Device Type |
| · Surgery Devices | |
| · Bone Reconstruction Devices | |
| · Body Support Devices | |
| · Others | |
| By Application | |
| · Knee | |
| · Head & Neck | |
| · Shoulder | |
| · Ankle & Foot | |
| · Wrist & Elbow | |
| · Others | |
| By End User | |
| · Hospitals | |
| · Specialty Clinics | |
| By Geography | |
| · North America (U.S. and Canada) | |
| · Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe) | |
| · Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific) | |
| · Latin America (Brazil, Mexico, and Rest of Latin America) | |
| · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) | |
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