Sports medicine is the branch of healthcare which deals with the enhancing people’s sporty performance. The products help people improve from injuries and also to prevent future injuries. Additionally, sports medicine has presented considerable growth among all other healthcare fields, as the professionals in the field have the competence to treat every kinds of people, and not the just athletes. Increasing demand for the sports medicine is observed over the years owed to the rise in occurrence of the sports related wounds along with rise in awareness among the people regarding physical fitness.
Additionally, government efforts pertaining to the sports medicine upsurge the participation of the athletes worldwide. Moreover, elevation in demand for the minimally invasive surgeries increases the market growth. However, absence of skilled professionals in the field, and in lack of guidelines and administration regarding the sports medicine hinder the growth.
Moreover, increasing use of wearable devices including fitness bands and various other sensors aids in monitoring the stress load and also, avoiding the fatigue induced wounds in the athletes has strengthen the growth of the market. For instance, company named Athletigen Technology, Inc., in Nova Scotia, works with numerous sportsmen to use collected information on the DNA for improving their health and performance, along with reducing incidences of the sport-related injuries. Such occurrences are anticipated to boost the market growth over forecast period.Segment Overview
In 2019, body reconstruction and repair dominated sports medicine market. The segment includes devices such as soft tissue repair equipment, surgical equipment, and bone reconstruction devices. The market share was accredited to the growing usage of ligament and fracture repair devices, and increasing adoption of the arthroscopy devices in the minimally invasive surgeries.
Moreover, the accessories are expected to witness fastest growth during the forecast period. The segment largely includes products such as disinfectants, tapes, bandages, wraps, and other products vital for treating the minor sports injuries. The rising usage of Protection, Rest, Ice, Compression, and Elevation (PRICE) therapy as the immediate treatment for sports injury is leading factor driving growth of this segment.Regional Overview
In 2019, North America dominated market with highest revenue share. The presence of well-established healthcare infrastructure with high spending power and availability of technologically advanced devices to treat various orthopaedic injuries are some of major factors driving the marketgrowth. For instance, Stryker Corporation, in 2018, has installed over than 650 Mako surgical robots all around the world and has completed above 76,900 hip and knee replacement procedures with the help of these robots.
However, Asia Pacific is expected to witness fastest growth over the forecast period as adoption rate of these sports medicine in developed and developing countries such as South Korea, China, and Japan is growing continuously. Furthermore, regulatory process for the product approvals is relatively less strict in these countries that has facilitated easy entry of the advanced products and the medical devices in the market.Competitor overview
Arthrex, Inc., in 2019 led the market for the sports medicine, with highest market, followed by Smith and Nephew and the Stryker. The players have built vast product portfolio and also made their presence in all the major countries. Moreover, the companies are continually upgrading products to attract the new consumers that is further leading to their larger market share. Some other noticeable players includes Zimmer Biomet, DJO Global and Wright Group N.V.
These players adopted multiple strategies including product launches, mergers and acquisitions, and building a robust distribution network to reinforce their market positioning. In October 2018, Wright Medical Group N.V. finished the acquisition of the company Cartiva, Inc. (Cartiva), for strengthening company’s foot and ankle portfolio to create better opportunities for global extremities business.Key Players
- Smith & Nephew Plc
- Stryker Corporation
- Johnson & Johnson (Depuy Mitek)
- Arthrex, Inc.
- Conmed Corporation
- Zimmer Biomet Holdings, Inc.
- Breg, Inc.
- Mueller Sports Medicine, Inc.
- DJO Global, Inc.
- Wright, Medical Group N.V.
By Product Type
- Body Reconstruction & Repair
- Body Support & Recovery
- Body Monitoring & Evaluation
- Ankle And Booth
- Back And Spine
- Elbow And Wrist
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA