The Sports Medicine Devices by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sports Medicine Devices, The sports medicine devices market size has grown strongly in recent years. It will grow from $7.44 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to military operations and conflicts, rise in commercial aviation, global geopolitical changes, regulatory standards and compliance, fluctuations in fuel prices..
The sports medicine devices market size is expected to see strong growth in the next few years. It will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to growing military expenditure, expansion of commercial aviation, technological advancements in refueling systems, global geopolitical changes, adoption of sustainable aviation fuels.. Major trends in the forecast period include automation in refueling systems, use of unmanned aerial vehicles (uavs), adoption of autonomous technologies, advanced fueling techniques, enhanced safety measures..
The rise in sports injuries is expected to boost the growth of the sports medicine device market going forward. Sports injury refers to the various types of wounds that commonly occur during athletic activity. Sports medicine devices are utilized for more than just injury treatment, they can also be used for performance training, physical therapy, and injury prevention, hence, the rise in sports injuries is expected to boost the sports medicine devices market. For instance, according to a report published by the National Safety Council (NSC), a US-based public service organization promoting health and safety, Injuries from sports and recreation have increased by 20% in 2021. Injuries occurring while using recreational and leisure equipment required emergency care for 3.2 million people in 2021. Males are harmed approximately twice as often as females (2,158,887 females vs. 4,148,404 males), and 91% of injury victims are treated and released from emergency departments in 2021. Therefore, the rise in sports injuries is driving the growth of the sports medicine device market.
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The sports medicine devices market covered in this report is segmented –
1) By Product: Orthopedic Devices, Body Reconstruction And Repair, Body Support And Recovery, Body Monitoring And Evaluation, Accessories
2) By Orthopedic Product: Artificial Joint Implants, Arthroscopy Devices, Fracture Repair Devices, Prosthesis, Orthobiologic
3) By Recovery And Support Product: Braces, Performance Monitoring Devices, Accessories, Other Recovery Products
4) By Application: Knee Injury, Shoulder Injury, Ankle-Foot Injury, Back-Spine Injury, Hand-Wrist Injury, Hip-Groin Injury, Arm-Elbow Injury
5) By End Users: Ambulatory Surgical Centers, Hospitals, Orthopaedic Clinics, Other End Users
Technological advancement is the key trend gaining popularity in the sports medicine device market. Major companies operating in the sports medicine device market are focusing on developing new technologies. For instance, in September 2021, Smith & Nephew, a UK-based medical technology company, launched the JOURNEY II Medial Dished (MD). The product is distinguished by its ability to provide more normal kinematics regardless of the state or absence of the posterior cruciate ligament (PCL). The whole JOURNEY II collection is designed to mimic the normal forms, postures, and mobility of the healthy knee.
The sports medicine devices market report table of contents includes:
1. Executive Summary
2. Sports Medicine Devices Market Characteristics
3. Sports Medicine Devices Market Trends And Strategies
4. Sports Medicine Devices Market – Macro Economic Scenario
5. Global Sports Medicine Devices Market Size and Growth
6. Sports Medicine Devices Market Segmentation
7. Sports Medicine Devices Market Regional And Country Analysis
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27. Sports Medicine Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sports Medicine Devices Market
29. Sports Medicine Devices Market Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Arthrex Inc.
- Conmed Corporation
- DJO LLC
- Johnson & Johnson Services Inc.
- Stryker Corp.
- Smith & Nephew PLC
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