The market for sports medicine devices in the region of Asia Pacific is expected to record steadfast growth owing to the dense population in the region. The expectant CAGR during the forecast period is 10.21% during the forecasted period, 2019-2027. The prominent factors impacting the growth of the market are the increasing healthcare reforms, rising sports injuries, and the increase in the acknowledgement and awareness among the athletes with regard to fitness levels and maintenance.
The rising number of international sports events and meets in the Asian region results in increased investments from sponsors. The rising initiatives in the countries of the region, particularly undertaken by the government, is aiding in the growth and awareness of the market. The research and development activities with regard to the orthobiologics market have culminated in advance techniques, which are being used in developing sports medicine. China has the active participation of the government, which has resulted in the introduction of cost-effective treatments and the increasing adoption of innovative measures in sports medicine. The governmental and non-governmental have helped immensely in sustaining the sports medicine market in the regions of India, Australia, and South Korea. The increasing concerns regarding sports injuries and the rising inclination and participation towards sports-related activities, is another dominant factor propelling the growth of the market.
Some of the established and emerging players in the market, include Orthofix International N.V. (Breg, Inc.), Rti Surgical Inc., Wright Medical Group N.V., Smith & Nephew Plc, Mueller Sports Medicine, Inc., Zimmer Biomet Holdings Inc, Stryker Corporation, etc.
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