Sports Medicine Market to Grow at CAGR of 8.9 % till 2023 | by Procedure, Tendinosis, Tendon to Bone, Cartilage Repair – Says MRFR
MarketResearchFuture.com (MRFR) in its recently Announced study report asserts that the “Global Sports Medicine Market” growing further will reach USD 9,655.6 Mn. by 2023, registering 8.9 % CAGR Along with Top Companies and Mega Trends.
Pune, India – September 28, 2018 /MarketersMedia/ —
Sports Medicine Market – Synopsis
Sport medicines is a medical branch which deals with the treatment, prevention, and diagnosis of the injuries of the athletes. Sports medicines plays an important part in the sports. Many drivers and restrains affects the growth of the market during the forecast period. Increasing prevalence of sports injuries, increasing number of sports medicine associations, rising awareness alongside of the technological development are the major drivers for the market.
The global sports medicine market is growing with the rapid pace. According to a recent study report published by the Market Research Future, the global sports medicine market is booming and expected to gain prominence over the forecast period.
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From last couple of decades, more people are attracted towards different sports. Increasing awareness about fitness made people from different age groups to participate and join different sports clubs.
This lead to more frequent sports injuries. According to the Centers for Disease Control and Prevention, on an average about 8.6 million sports and recreation related injuries episodes were reported in 2016.
Moreover, it was estimated that males and people aged from 5 years to 24 years accounted for more than one-half of the injury episodes. On the other hand, factors like lack of skilled labours along with high cost may restrain the market growth during the forecast period. However, the presence of opportunities like rise in influx of athletes and technological advances in sports medicines have the potential for the market growth.
Sports Medicine Market – Segmentation:
By product, Global Sports Injuries Market has been segmented into joint reconstructive & repair products, support & recovery products, accessories & consumables and others.
By application, the Sports Medicine Market is segmented into shoulder treatment, knee treatment, hip treatment, spine treatment, and others.
By procedure, the market is segmented into tendinosis, tendon to bone, and cartilage repair. The tendinosis segment is poised to captivate the most substantial fraction of market revenue during the projection period.
By end-user, the market has been segmented into hospitals & emergency care, trauma centers, ambulatory care, and others.
Sports Medicine Market – Top Players:
Medtronic
Zimmer Biomet
DePuy Synthes
Smith & Nephew plc
Stryker
And others.
Sports Medicine Market – Regional Analysis:
By region, the global sports medicine market has been segmented into North America, Europe, Asia Pacific, and, Middle East and Africa.
North America is the leading market globally and accounted for 39% of the market size in 2016 with a market valuation of USD 1,883.6 Mn. According to a report published by the Centers for Disease Control (CDC), the U.S., high school athletes accounts for around 2 million sports injuries every year. The rising count of sports injuries in the region is one of the key drivers of the market.
Europe holds the second spot in terms of market size and is poised to retain its influence throughout the forecast period. The accelerated rate of sports activities in the region has paved the way for the upward shift in the demand curve of sports medicines owing to rising count of sports injuries. Furthermore, increasing awareness on the consumer’s side coupled with the growth strategies of key players has also fueled the market expansion in the region.
Asia Pacific region is set to thrive saliently over the assessment period at a robust CAGR of 9.2% and will demonstrate the steepest rise in the growth curve. The factors favoring market expansion in the region are developments in the healthcare sector, increasing sports associations, rising awareness about health and sports medicines, etc. Middle East & Africa market will grow at the slowest pace with the least market share over the next couple of years.
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Source: MarketersMedia
Release ID: 414503
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