Sports Medicine Devices Market to be Driven by Higher Sports Injury Incidences - Transparency Market Research

A recent market study by Transparency Market Research (TMR), a market intelligence company based in the U.S., states that the global sports medicine market will be valued at US$8,284.0 billion by 2019. The TMR research report states that the market was valued at US$6,100.6 million in 2012 to grow at CAGR of 4.4% between 2013 and 2019.

The report, titled “Sports Medicine Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, is available for sale on the company website.As per the findings of the report, the global sports medicine devices market is driven by rising participation in sports activities among individuals of all age, increasing focus for cost-effective treatment solutions for sports injuries, and technological advancement. Further, the increasing geriatric population and growing demand for arthroscopic surgeries are spurring growth of the market.

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Moreover, increasing disposable incomes in developed nations are fueling the growth of the sports medicine devices market. The unfavorable medical claim policies for sports medicine devices in developed nations, however, will decelerate the growth of the market, as per the market study.For the purpose of the study, TMR segments the sports medicine devices market on three perspectives, namely orthopedic devices, recovery and support products, and regional geographies. Orthopedic products are sub-segmented into artificial joint implants, fracture repair devices, arthroscopy devices, orthobiologics, and prosthesis. 

The arthroscopy devices segment of the sports medicine devices market dominated the market and was worth US$1,593.8 million in 2012. Further, the product segment is projected to exhibit a CAGR of 5.8% for the forecast period. The TMR research report classifies the recovery and support products segment into braces, accessories, other recovery products, and performance monitoring devices. In the recovery and support products segment, braces account for the second largest segment of the market and are projected to progress at a CAGR of 3.4% between 2013 and 2019. However, the accessories market and prosthetics market is expected to exhibit the slowest growth in the sports medicine devices market, as per TMR’s forecasts.

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From a geographical standpoint, the market study segments the global sports medicine devices market into North America, Rest of the World (RoW), Europe, and Asia. Among regional segments, North America dominated the sports medicine devices market, boasting a net worth of US$2,478.2 million in 2012. In the coming years, Asia and RoW are anticipated to be lucrative markets for sports medicine devices, as per the study findings. This is due to higher incidence of sports injuries and increasing fitness awareness across all age individuals.The major corporations in the global spots medicine devices market are Arthrex, Stryker, Depuy Mitek, Ottobock, Arthocare, and Smith & Nephew.

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