Sports orthopaedics to witness growth of indications and specific segments, such as hip and small joint arthroscopy
A primary trend that has emerged within the sports orthopaedics industry is the growth of indications and specific segments, such as hip and small joint arthroscopy, which will assist future market expansion, says an analyst with research and consulting firm GlobalData.
According to Priya Radhakrishnan, GlobalData’s Senior Analyst covering Medical Devices, the fastest growing procedure is hip arthroscopy, which is being used primarily for femoroacetabular impingement, a condition that afflicts both osteoporotic patients and active young people.
GlobalData forecasts that the global arthroscopic implants industry will climb from $2.1 billion in 2013 to $3.2 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 6.1%.
Radhakrishnan says: “With the hip joint being anatomically difficult to access, arthroscopic instruments have become increasingly smaller and longer over time. It now follows that implants also need to be smaller.”
According to Radhakrishnan, another strong segment is cartilage tears, which are very common in athletes. For these tears, restoration techniques are rapidly boosting the market with cell-based technologies, regeneration and new grafts.
Radhakrishnan says: “There is plenty of room for technological advancement in sports medicine, thanks to a number of unmet needs. With new products in the pipeline and various small manufacturers developing cutting-edge technologies, we expect that the sports orthopaedics industry will keep on expanding.”
Additionally, new players joining the market means that GlobalData anticipates ample opportunities for industry leaders to enter into acquisitions and mergers, allowing for more targeted growth in the future.