Global Sports Medicine Devices Market Growing at a CAGR of 4.7% between 2015 and 2020
Zion Research has published a new report titled “Sports Medicine Devices Market (Reconstructive Devices, Support and Recovery Devices, Performance Monitoring Devices and Other Accessories for Artificial Joint Implants, Arthroscopy Devices, Fracture Repair Devices, Prosthesis, Orthobiologics, Braces, Performance Monitoring Devices, Accessories, and Other Recovery Products) : Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, global sports medicine devices market was valued at USD 6.61 billion in 2014 and is forecast to reach USD 8.63 billion in 2020, growing at a CAGR of 4.7% between 2015 and 2020.
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Sports medicine device is a branch of medicinal science that help improve physical fitness, healing, and avoidance of sports and exercise-related injuries. Sports medicine devices help in accessing and understanding the performance of a sportsman. It covers prevention and curing of injuries due to sports, exercise for health and recommendation for training.
The demand for sports medicine devices is growing due to strong growth in sporting activities. Athletics and outdoor sports such as marathons and triathlons, and adventure sports such as trekking, hiking, mountain racing, and ice-skating are growing in popularity across the world. Moreover, growing awareness of physical fitness and healthy lifestyle has been resulted into growing demand for sports medicine devices market. Moreover, increase in sports associations and increasing penetration of online marketing is expected to boost demand for sports medicine devices in the years to come. However, high cost of sports medicine devices is expected to present major challenge for industry participants.
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Reconstructive devices, support and recovery devices, performance monitoring devices and other accessories are major product types of sports medical devices. Reconstructive devices dominated the global sports medicine devices market with over 45% share of the total market in 2014. On the basis of different types of treatments, sports medicine devices market can be segmented as arthroscopy devices, braces, fracture repair devices, orthobiologics, monitoring devices, prostheses and joint implants and other recovery products & accessories. Arthroscopy devices was leading market segment and accounted for slightly over 23% share of the market in 2014.
On the basis of applications, the sports medicine devices market can be classified as foot & ankle, hip, knee, shoulder, spine and others. Knee was the single largest application segment for sports medicine devices with around 20% share in 2014.
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The sports devices market was dominated by Americas, which accounted for slightly above 43% share of the global market in 2014. Americas was followed by Europe, Asia Pacific and rest of the world respectively. Sports medicine market in America is also expected to witness rapid growth as compared to other regions. However, emerging economies are also expected to contribute towards the growth of this industry owing to rapid growth in countries like China, India, Brazil, Russia, etc. This market growth in the emerging economies can be attributed to rising per capita income, growing health awareness and advanced sports facilities.
Some of the key market participants in the global sports medicine devices market include Arthrex, Arthrocare, Biomet, Inc., Stryker Corporation, Wright Medical Technology, Inc., DJO Global, OttoBock Healthcare GmbH, Ossur hf and Zimmer Holdings, Inc.
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