Sports medicine devices in medical field are used to treat and prevent sports and exercise related injuries. Various injuries caused due to sports and general exercise include head, knee and ankle injuries, muscle cramps, sprains and strains and ligament ruptures. These devices are either surgically implanted, externally attached or used for minimally invasive procedures such as arthroscopy. These also involve use of performance monitoring devices and various accessories products such as wraps, tapes and slings. The recovery products comprises hot and cold packs, electro stimulators and compression clothing.
Rise in technological advances and growing importance of sports activities among the young as well as the older population as well as focus on developing cost-conscious treatment methods currently form major drivers for the growth of this market. Demand for arthroscopic procedures is expected to grow in the near future owing to the increase in geriatric population and sports injuries across the globe. A rise in disposable incomes in developing countries has boosted the confidence of OEMs towards these regions. However, unfavorable reimbursement policies in developed countries are expected to have negative impact on the market growth across the globe. The global sports medicine devices market was valued at USD 6,100.6 million in 2012 and is expected to grow at a CAGR of 4.4% from 2013 to 2019, to reach an estimated value of USD 8,284 million in 2019.
The sports medicine devices include orthopedic products and recovery and support products. Orthopedic products are further segmented into artificial joint implants, arthroscopy devices, fracture repair devices, prosthesis and orthobiologics. On the other hand, the recovery and support products are classified as braces, performance monitoring devices, accessories and other recovery products. The arthroscopy devices in orthopedic products accounted for the largest market and was valued to be around USD 1,593.8 million in 2012. This segment is expected to grow at a CAGR of 5.8% during the forecast period. The braces/orthotics market in recovery and support products, forms the second largest market segment and is expected to grow at the growth rate of 3.4% from 2013 to 2019. Whereas, the prosthetics market and accessories market is estimated to have the slowest growth in the total sports medicine devices market during the forecast period.
Geographically, North America accounted for the largest share in the global sports medicine devices market in 2012 and is expected to continue to lead in terms of revenue generation throughout the forecast period. The market in North American region was valued at USD 2,478.2 million in the year 2012. Asia-Pacific and the rest of the world regions are considered as the most lucrative market for sports medicine devices owing to the increase in incidences of sports injuries and rising awareness for fitness in the elderly population through 2019. The leading players in the market for sports medicine devices market are Arthrex, Depuy Mitek, Ottobock, Stryker, Smith & Nephew and Arthocare amongst various others.
Sports Medicine Devices Market: Overview
Sports medicine is a branch of medicine dealing with treatment and prevention of injuries that occur during sports activities, while performing exercises, or physical fitness training. Sports medicine devices therefore, comprise products and devices that help prevent, cure, and recover injuries such as fractures, sprains, joint dislocation, soft tissue damage, and musculoskeletal injuries caused due to physical activities. Sports medicine devices are used by professional and non-professional athletes and other sportspersons to enhance their performance, endurance, as well as protection.
The report assesses the global sports medicine devices market with respect to the available products. A detailed analysis of the market structure by identifying the various segments and sub-segments of the global sports medicine devices market has been given. Trends with respect to key geographies in the world have been assessed. The report identifies the drivers of the market along with the risks and opportunities impacting the industry. The scope of the study includes a competitive analysis of the market segments based on products from different regional markets
Sports Medicine Devices Market: Trends and Opportunities
The rising awareness among people regarding an active lifestyle and fitness and health management is leading to an increased participation in sport activities. The increased participation in sports is leading to a rise in the number of injuries and this is fueling the demand for sports medicine devices across the globe. Moreover, serious injuries are resulting in a demand for minimally invasive surgeries, which is driving the growth of the sports medicine devices market. Other factors leading to a growth in the market include conducive reimbursement facilities and innovative surgical technologies.
On the basis of type of device, the sports medicine devices market into support and recovery products and orthopedic products. The orthopedic product segment is further classified into arthroscopy devices, prosthesis, artificial joint implants, orthobiologics, and fracture repair devices. Of these, the arthroscopy devices segment is a key contributor to the market’s revenue and is estimated to expand at a 5.80% CAGR between 2013 and 2019. On the other hand, the prosthesis segment is expected to witness sluggish growth in the coming years.
Sports Medicine Devices Market: Region-wise Outlook
On the basis of geography, the global sports medicine devices market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. Of these, North America is anticipated to be the dominant segment owing to the rising awareness among the elderly population base regarding fitness. The growing awareness about the benefits of physical activities and sports and rising incidences of sports injuries in countries in the Rest of the World and Asia Pacific will make these markets lucrative for sports medicine devices.
Key Players Mentioned in the Report
Some of the key vendors operating in the sports medicine devices market are: Smith & Nephew PLC, DJO Global, Inc., Ossur hf, BREG, Inc., ArthroCare Corporation, OttoBock Healthcare GmbH, DePuy Mitek, Inc., Zimmer Holdings, Inc., Mueller Sports Medicine, Inc., Arthrex, Inc., Conmed Corporation, Skins International Trading AG, Wright Medical Technology, Inc., Biomet, Inc., Stryker Corporation, and 3M Company Ace Brand.
Market Segmentation of the Global Sports Medicine Devices Market is as follows:
Sports Medicine Devices Market, by Type
- Orthopedic products
- Artificial joint implants
- Arthroscopy devices
- Fracture repair devices
- Recovery and support products
- Performance monitoring devices
Sports Medicine Devices Market, by Geography
- North America
- Rest of the World (RoW)