North America Sports Medicine Market, By Product Type (Orthobiologics (Bone Graft Substitutes, Viscosupplementation, BMC, PRP), Surgical Devices (Plates and Screws), Arthroscopy Devices, Orthopedic Braces and Supports),Body Area, End Users, Country and Forecast to 2024.
Pune, India -- (SBWIRE) -- 03/15/2018 -- North America Sports Medicine Market dominates the global sports medicine market with 43.7% market share in 2016. This market is expected to reach USD 14.4 billion by 2024, from USD 7.9 billion in 2015 growing at a CAGR of 7.8% during the forecast period of 2017 to 2024.
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Sports medicines are used to prevent, diagnose, treat, and rehabilitate injured patients related to sports, exercise, or any other physical activity. Factors such as increasing trend towards fitness regimes, increased investments on R&D of sports medicine products, increased acceptance and clinical evidence of regenerative medicines such as PRP and BMC in U.S. and increased incidence of sports related injuries is expected to drive the North America sports medicine market.
North America Sports Medicine Market Segmentation:
The North America sports medicine market is segmented based on product types, body area and end-user segments.
- On the basis of product type the North America sports medicine market is segmented into orthobiologics, surgical devices, arthroscopy devices and orthopedic braces and supports. Orthobiologics are synthetic or biomaterials used as fillers or separately to align or reconstruct broken bones. They are widely used in the treatment of sports injuries such as ACL tear and others. The orthobiologics segment is further categorized into bone graft substitutes, visscosupplementation, bone marrow concentrate (BMC) and platelet rich plasma (PRP).
- On the other hand the surgical devices majorly constitute of plates and screws and other accessories. The arthroscopy devices segment is expected form a major part of the market owing to the paradigm shift towards minimally invasive procedures. The arthroscopy devices is further segmented into arthroscopy implants, arthroscopes (video and HDD), visualization systems, arthroscopy pumps and resection equipments.
- The North America sports medicine market is also segmented based on body area into knee, hip, shoulder and elbow, foot and ankle and, hand and wrist.
- Based on end-users the North America sports medicine market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers and others.
- Based on geography the market is segmented into 3 countries U.S., Canada and Mexico. U.S. is expected to dominate the market with 91.1% market share in 2016, and will continue to be the leader in the forecast period 2017 to 2024.
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Company Share Analysis:
The sports medicine market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some examples of recent strategies/developments are: Breg renewed its contract with Orthotic and Prosthetic Group of America (OPGA), U.S, Smith & Nephew plc entered into a joint venture with Essex Woodlands, Smith & Nephew plc signed a commercial agreement with Blue Belt Technologies which manufactures navio orthopedic surgical systems, and Smith & Nephew plc acquired Arthocare among many others. The report includes market shares of sports medicine market for U.S., Canada and Mexico.
Major Key Players:
Some of the major players operating in this market are:
- Arthrex, Inc.
- Smith and Nephew
- Depuy Synthes
- Conmed Corporation
- Zimmer, Inc.
- DJO Global
- Ossur Corporate
- Ottobock Healthcare GmbH
- Breg, Inc.
- Tornier, Inc.
- Mueller Sports Medicine, Inc.
- Cramer Products, Inc.
- RTI Surgical among others.
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