Sports medicine device markets include
devices and products which help in the diagnosis and treatment of
injuries mainly caused while performing a sport. This is one of the
newest and fastest growing fields in healthcare. The high growth rate
can be attributed to the changing lifestyle and higher occurrence of
sports injuries due to more exposure of the youth population to sport
related activities.
The sports medicine device market can
be primarily classified based on the product type as body construction
and repair, body support and recovery and cardiac monitoring. Sports
medicine devices have numerous applications based on the body part they
would be used at. Based on application areas, sports medicine devices
are classified as shoulder, ankle and foot, elbow and wrist, back and
spine, hip and groin and knee. Geographically the market is segmented
into North America, Europe, Asia Pacific and Rest of the world.
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The sports medicine device market is
expected to grow with a CAGR of 9.5% with knee applications being the
largest share holder due to the higher occurrences of ACL (anterior
cruciate ligament) injuries. Geographically, the U.S. is the largest
market for sports medicine devices.
The primary reason for the growth of
the sports medicine market is changing demographic trends and the
increased awareness and expenditure on healthcare. There is an increase
in the aging population which has contributed positively to the
development of the market. The increase in net income has helped
consumers focus more on healthcare than before. Also sports medicine
devices are based on the concept of minimal invasive techniques in
surgery which leads to a quicker healing process for sportspersons. With
an increased number of people opting for sports as their career, the
sports medicine device market is going to expand.
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The high cost associated with sports
medicine devices is hampering the growth of the market. The middle level
sportsmen cannot afford these devices and hence stay oblivious of the
advantages of these devices. Also there are restrictive government
policies in certain countries which do not promote the import of sports
medicine devices.
The sports medicine device market is
expected to grow owing to the emerging number of sportsmen from
countries like China and India, Korea and the Eastern Bloc countries. By
trying to keep the cost of these devices low, companies can tap a
large part of the population wanting to use these devices but unable to
do so because of the cost.
Some of the key players in this market
include Arthrex, Biomet, Arthrocare Corporation, Biomet Inc, Breg Inc,
Bird and Cronin Inc and others.
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This research report analyzes
this market depending on its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report
also includes a review of micro and macro factors essential for the
existing market players and new entrants along with detailed value
chain analysis.
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