Global Sports Medicine Market Forecasts to 2024: Opportunities in 3D-Printed Implants & Expansion and Market Penetration Opportunities in Emerging Economies
DUBLIN, June 26, 2019 /PRNewswire/ -- The "Sports Medicine Market by Product (Body Reconstruction (Arthroscopy devices, Implants), Body Support & Recovery Products (Physiotherapy Equipment, Compression Clothing, Braces & Supports)), Application and Region - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The global sports medicine market is projected to reach USD 9.1 billion by 2024 from USD 6.6 billion in 2019
Growth in the sports medicine market can be attributed to factors such as the increasing incidence of sports injuries, continuous influx of new products and treatment modalities, and developments in the field of regenerative medicine. However, the high cost of implants and other devices may restrain the market to a certain extent.
The Body Support & Recovery Products segment is expected to grow at the highest rate during the forecast period.
On the basis of product, the global sports medicine market has been segmented into body reconstruction products, body support & recovery products, and accessories. The body reconstruction products segment is further divided into fracture and ligament repair products, arthroscopy devices, implants, prosthetics, and orthobiologics. Similarly, body support & recovery products include braces & support, physiotherapy equipment, and compression clothing. The body support & recovery products segment is expected to grow at the highest CAGR during the forecast period. Braces & supports are required before and after procedures involving reconstruction. The demand for these devices is growing due to their requirement in the treatment of the majority of the sports injuries. Subsequently, shifting trend towards physiotherapy is a major factor boosting this market growth.
The knee injuries segment is expected to hold the largest share during the forecast period.
On the basis of application, the sports medicine market is segmented into knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries, back & spine injuries, hip & groin injuries, and other injuries. The knee injuries segment is expected to account for the largest share of this market. The large share of this segment can be attributed to knee injuries being the most common sports injury accounting for approximately 40% of all injuries.
The North American sports medicine market is expected to hold the largest market during the forecast period.
Geographically, the sports medicine market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The North American market is expected to hold the largest share during the forecast period. The rising popularity of sports and physical activity, growing awareness regarding the prevention & treatment of sports injuries, and increasing investments in sports medicine are the key factors driving the North American sports medicine market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Sports Medicine Market Overview
4.2 Geographic Analysis: European Sports Medicine Market Share, By Product (2019)
4.3 Sports Medicine Market Share, By Application, 2019 vs 2024
4.4 Sports Medicine Market Share, By Product, 2019 vs 2024
4.5 Geographic Snapshot of the Sports Medicine Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Incidence of Sports Injuries
5.2.1.2 Continuous Influx of New Products and Treatment Modalities
5.2.1.3 Developments in the Field of Regenerative Medicine
5.2.2 Restraints
5.2.2.1 High Cost of Orthopedic Implants and Other Devices
5.2.3 Opportunities
5.2.3.1 3D-Printed Implants
5.2.3.2 Expansion and Market Penetration Opportunities in Emerging Economies
5.2.4 Challenges
5.2.4.1 Dearth of Skilled Professionals
6 Sports Medicine Market, By Product
6.1 Introduction
6.2 Body Reconstruction Products
6.2.1 Fracture & Ligament Repair Products
6.2.1.1 Fracture & Ligament Injuries are the Most Common Sports Injuries
6.2.2 Arthroscopy Devices
6.2.2.1 Technological Advancements and the Development of New Products to Support Market Growth
6.2.3 Implants
6.2.3.1 High Cost of Implants is A Major Concern Expected to Restrain Market Growth
6.2.4 Orthobiologics
6.2.4.1 The Interest of Prominent Companies in the Field of Orthobiologics is Driving Innovation in the Segment
6.2.5 Prosthetics
6.2.5.1 High Price of Prosthetics and an Unfavorable Reimbursement Scenario in Developing Nations May Restrain Market Growth
6.3 Body Support & Recovery Products
6.3.1 Braces & Supports
6.3.1.1 Wide Adoption of Braces and Supports to Treat Sports Injuries in Pre- and Post-Operative Cases is Driving Market Growth
6.3.2 Physiotherapy Equipment
6.3.2.1 Thermal Therapy
6.3.2.1.1 Thermal Therapy is Widely Adopted as It is Inexpensive, Easily Accessible, and Portable
6.3.2.2 Electrostimulation
6.3.2.2.1 Technological Advancements in the Field of Electronics have Made Electrostimulation to Be an Essential Technique in Sports Medicine
6.3.2.3 Other Therapies
6.3.2.3.1 Ultrasound Therapy
6.3.2.3.2 Laser Therapy
6.3.3 Compression Clothing
6.3.3.1 Compression Clothing is A Deterrent Against the Progression of Venous Disorders Such as EDEMA, Phlebitis, and Thrombosis
6.4 Accessories
6.4.1 The Market for Accessories is Highly Fragmented and Includes Medicated as Well as Non-Medicated Products
7 Sports Medicine Market, By Application
7.1 Introduction
7.2 Knee Injuries
7.2.1 Knee Injuries are the Most Frequently Occurring Injuries in Sports
7.3 Shoulder Injuries
7.3.1 Increased Incidence of Shoulder Injuries in Contact Sports to Drive Market Growth
7.4 Foot & Ankle Injuries
7.4.1 Growing Participation in Sports has Resulted in the Increasing Number of Sports-Related Foot & Ankle Injuries
7.5 Hip & Groin Injuries
7.5.1 Hip & Groin Pain is A Common Complaint Among Athletes of All Ages and is Estimated to Account for 5-6% of All Sports Injuries
7.6 Elbow & Wrist Injuries
7.6.1 Elbow & Wrist Injuries are Common in Athletes Where Repetitive Extension and Flexion of the Elbows and Wrist is Seen
7.7 Back & Spine Injuries
7.7.1 Increasing Incidence of Spinal Cord Injuries to Support Market Growth
7.8 Other Injuries
8 Sports Medicine Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 US Holds the Largest Share of the North American Market
8.2.2 Canada
8.2.2.1 The Growing Prominence of Regenerative Medicine and Stem Cell Therapy is Driving Market Growth in Canada
8.3 Europe
8.3.1 Germany
8.3.1.1 High Participation in Sports Activities has Contributed to Market Growth in Germany
8.3.2 UK
8.3.2.1 Development of the Sports Medicine Sector has Become A Key Area for Government Organizations in the UK
8.3.3 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.1.1 Japan has Shown Considerable Growth in Research on Sports Medicine
8.4.2 China
8.4.2.1 Key Players are Focusing on the Chinese Sports Medicine Market
8.4.3 Australia
8.4.3.1 Rising ACL Injury Rate Will Drive Demand for Sports Medicine Products
8.4.4 India
8.4.4.1 Government Initiatives to Support Sports Medicine Will Contribute to Market Growth in India
8.4.5 Rest of Asia Pacific
8.5 Rest of the World (RoW)
9 Competitive Landscape
9.1 Introduction
9.2 Market Share Analysis
9.3 Competitive Leadership Mapping (Overall Market)
9.4 Competitive Leadership Mapping (Emerging Players)
9.5 Competitive Scenario
10 Company Profiles
10.1 Arthrex, Inc.
10.2 Smith & Nephew PLC
10.3 Depuy Synthes Companies (A Part of Johnson & Johnson)
10.4 Stryker Corporation
10.5 Breg, Inc.
10.6 Conmed Corporation
10.7 Zimmer Biomet Holdings, Inc.
10.8 DJO Global, Inc. (Subsidiary of Colfax Corporation)
10.9 Mueller Sports Medicine, Inc.
10.10 Wright Medical Group N.V.
10.11 RTI Surgical Holdings, Inc.
10.12 Performance Health International Limited
10.13 Bauerfeind AG
10.14 Medtronic PLC
10.15 KARL STORZ GmbH & Co.Kg
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