Global Sports Medicine Market Expected To Be Valued Around USD 8,152.5 Million By 2022 – ZMR
As per the research report by ZMR, the valuation of the global sports medicine market in 2016 was about USD 5,782.0 million and is projected to attain a value of around USD 7,986.9 million by 2022, at a CAGR of about 8.25% between 2017 and 2022.
A healthcare branch, Sports medicine deals with improving the athletic performance of people. Sport medicine products assist individuals to recuperate from injuries and avert future injuries. Sports injuries consist of sprains & strains, spondylolisthesis & spondylolysis, disc injury, Scheuermann’s disease, and stingers. Additionally, sports medicine has presented a substantial expansion among all the other healthcare domains, as specialists in this field have the ability of treating all types of individuals and not merely athletes.
A substantial demand is witnessed for sports medicine on account of the rising occurrences of sports injuries and the growing partaking by people in fitness- and sports-associated activities. Other factors contributing to the growth of the global sports medicines market are the constant invention of new treatment modalities & products along with the growing need for minimally invasive surgeries. Further, the increasing incidence of chronic conditions such as obesity & cardiovascular diseases and rising alertness owing to healthcare campaigns has stimulated people to take on healthy lifestyle resulting in elevated partaking in sports activities. In addition, the growing usage of wearable devices like fitness bands and other sensors helps in checking stress load and dodging fatigue-stimulated injuries in athletes thereby fueling the market growth. Also, the rising career prospects in sports, numerous efforts started by government and other institutions to decrease chronic disease burden and encourage healthy lifestyle is expected to drive the growth of global sports medicine market during the forecast period.
The global sports medicine market is bifurcated based on application, product, and region. The global market, on the basis of product, is divided into body support & recovery products, body reconstruction & repair products, accessories, and body monitoring & evaluation. The market is expected to be dominated by the body reconstruction and repair segment owing to the rising use of fracture & ligament repair devices along with the growing implementation of arthroscopy devices within minimally invasive surgeries. Further, the body reconstruction & repair products segment is sub-classified into arthroscopy devices, implants, prosthetic devices, orthobiologics, and fracture & ligament repair devices. Also, body support & recovery products segment is sub-divided into brace & support devices, compression clothing, and thermal therapy products. Likewise, body monitoring and evaluation segment is sub-bifurcated into respiratory monitoring & evaluation, cardiac monitoring & evaluation, muscoskeletal monitoring & evaluation, hemodynamic monitoring & evaluation, and other monitoring & evaluation. The market, on the basis of application, is categorized into shoulder injuries, knee injuries, elbow & wrist injuries, ankle & foot injuries, back & spine injuries, hip & groin injuries, and other injuries.
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Regionally, the global sports medicines market is projected to be governed by North America with the highest share in terms of revenue. This regional growth can be attributed to the existence of a well-built healthcare infrastructure, the high expenditure, and the accessibility of technologically cutting-edge medical devices for treating numerous orthopedic injuries. In addition, Asia Pacific is also expected to register the quickest expansion within the sports medicines market during the forecast period owing to the escalating rate of adoption of sports medicine in nations like Japan, South Korea, and China. Also, the regulatory course for product authorizations is relatively less strict in these nations and has assisted the easy entry of innovative medical devices and products in this market.
The key players active in the global sports medicines market include Johnson & Johnson (Depuy Mitek), Smith & Nephew Plc, Mueller Sports Medicine, Inc., Zimmer Biomet Holdings, Inc., DJO Global, Inc., Stryker Corporation, Breg, Inc., Wright, Medical Group N.V., Arthrex, Inc., General Electric Company, Conmed Corporation, Ceterix Orthopaedics, Medtronic, KFx Medical LLC., Osiris Therapeutics, Inc., NuVasive, Inc., and MedShape, Inc., among others.
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- CDN Newswire