Owing to the increasing incidences of sports injuries, sports medicine market is expected to observe significant profits in the ensuing years. According to the research report compiled by Global Market Insights Inc., global sports medicine market share is likely to witness considerable growth and amass $9 billion by 2025. (Data Credit: Global Market Insights, Inc)
In 2018, body reconstruction products accounted for a significant share in the advancement of sports medicine industry trends. It has been projected that sports medicine market share from body reconstruction products will observe a CAGR of 6.4 per cent between 2019 and 2025.
Body reconstruction products include prosthetics, implants, arthroscopy devices, ligament and fracture repair products and others, offering treatment with efficacy for physical injuries. Escalation in number of physical injuries during sports activities is going to significantly impact the body reconstruction products and simultaneously influence sports medicine market. Moreover, development of reconstruction products including orthobiologics may also help to augment body reconstruction products segment share in the times to come.
What will be the impact of knee injuries segment on sports medicine industry trends?
The knee injuries segment is expected to witness high revenue growth owing to the increasing incidence of knee arthroscopy surgeries. Also, the figures of anterior cruciate ligament (ACL) injuries are anticipated to witness expansion, which will in turn augment sports medicine market outlook. Knee implants are being developed these days which will increase their usage in replacement surgeries and augment knee injuries segment growth. Sports medicine market report has forecasted that knee injuries segment will contribute to the industry share with a CAGR of 6.5 per cent between 2019 and 2025.
How will hospitals contribute to the growth of sports medicines market size?
Replacement surgeries are mostly carried out in hospitals due to advanced devices and well-developed infrastructure for treatment. In hospitals, cost benefits and skilled professionals are easily accessible. Such benefits, which can be easily leveraged at hospital for surgeries, will help to expand hospital sports medicine market share in the years to come. In 2018, hospital segment accounted for over 35 per cent of industry share.
What factors will help the US sports medicine market to emerge as a major contributor to overall industry growth?
There has been a notable growth in the number of incidences of physical injuries owing to the increasing interest of people towards exercise and sports. A number of government initiatives being introduced and enhanced focus on R&D activities for the advancement of superior treatment therapies for sports injuries will also add to industry share. It has been predicted that the US sports medicine industry will demonstrate a substantial growth with more than 6 per cent CAGR over 2019-2025.
Some of the key players operating in sports medicine market are Arthrex, Inc., CONMED Corporation, DePuy Synthes, Smith and Nephew and Stryker, among the other players. Companies are concentrating on adoption of various strategies including new product launch, partnerships, acquisitions and mergers to expand their business position.
Source: Global Market Insights, Inc.