The global market for sports medicine devices is estimated to project a CAGR of 6.45% during the forecast period. The growing graphs of lower body part injuries, increasing application of minimally invasive procedures, and the innovations taking place with regard to the treatment techniques, are the factors estimated to boost the growth of the market.
Sports medicine not only aids in the improvement of the physical endurance of the athletes but also plays a vital role in the treatment of injuries. One of the majorly used devices in the market is the body construction and repair devices. There is increased participation in sports across the globe. This phenomenon results in hospitalizations and sports injuries, thereby driving the growth of the market. At the same time, there is an increase in global awareness regarding the importance of physical fitness. This is further fueled by the active participation of both, the government and private organizations. The lack of skilled medical professionals in the domain is a challenge for the growth of the market. Further, technological advancements are estimated to incur ample market growth opportunities.
The global market for sports medicine devices is segregated and analyzed on the basis of the regions, such as North America, Europe, Asia Pacific, and the Rest of the World. North America was the major contributor in terms of revenue in 2018. The Asia Pacific region is expected to record the fastest-growing rate, as a result of advancements in healthcare, and the growing population in the region.
Some of the well-established companies in the market include, Conmed Corporation, Bioventus Llc, Arthrex, Johnson & Johnson Company (Depuy Synthes), Djo Global, Breg, Inc., General Electric Company, etc. among others.
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