Sports Medicine Devices Market Opportunity will Rise to USD 8,284 million by 2019
Posted: Jun 07, 2019
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.
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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.
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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.
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