Sports Medicine Market Value to Hit $9 Billion by 2025: Global Market Insights, Inc.
SELBYVILLE, Del., July 3, 2019 /PRNewswire/ — The U.S. sports medicine market will grow at a considerable pace of over 6% CAGR. Growing incidence of physical injuries due to physical activities such as sports and exercise will drive the U.S. market growth over the coming years. Government initiatives coupled with an increasing focus on R&D activities for the development of superior treatment therapies for sports injuries will further drive the U.S. sports medicine industry growth.
The Hospitals segment held more than 35% market share in 2018 and is estimated to grow at a significant rate over the foreseeable future. The majority of replacement surgeries occur in hospitals owing to well-developed infrastructure and advanced devices for treatment. Furthermore, the availability of skilled professionals and cost benefits will offer momentous business growth in the upcoming years.
The knee injuries segment of the sports medicine market will witness robust growth at 6.5% CAGR during the analysis period. High growth is attributed to a growing prevalence of knee arthroscopy surgeries coupled with a growing number of anterior cruciate ligament (ACL) injuries. Developments in knee implants used in replacement surgeries should further stimulate the segmental growth over the coming years.
Global Sports Medicine Market will surpass USD 9 billion by 2025; according to a new research study published by Global Market Insights, Inc. A rising number of injuries due to increasing adoption of sports activities will act as a high impacting factor for sports medicine market growth. The growing number of body reconstruction surgeries will impel the demand for sports medicine products, driving the sports medicine business growth over the forecast period.
Growing government initiatives and policies supporting sports activities will impel the market growth. Several schools and institutes are adopting sports programs to increase the participation of the youth in order to enhance physical fitness. Such initiatives that escalate adoption of sports activities will boost the demand for body support and reconstruction products to prevent and treat sports injuries.
Body reconstruction products market dominated the global sports medicine market in 2018 and is forecasted to witness 6.4% CAGR during the projected period. Body reconstruction products include implants, prosthetics, arthroscopy devices, fracture and ligament repair products and others, providing efficient treatment for physical injuries. An increasing number of physical injuries during sports activities will positively influence the segmental growth. Furthermore, advancements in reconstruction products including orthobiologics will drive body reconstruction products segment growth over the forecast timeframe.
Increasing sports activities and initiatives will drive Australia sports medicine market growth over the projected period. High-performance technologies and treatment management will further stimulate industry growth. Active participation of people in sports along with favorable sports policies will additionally lead to business growth in the country.
Some of the key industry players operating in the sports medicine market are Arthrex, Inc., CONMED Corporation, DePuy Synthes, Smith and Nephew and Stryker among the other players. Companies are concentrating on the adoption of various strategies including new product launch, partnerships, acquisitions & mergers to expand their business position. Major industry players are focusing their efforts on emerging markets to gain significant market share as well as a competitive edge on these promising markets.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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