Global Sports Medicine Market Report: 2015 Edition
The global sports medicine market is a very dynamic sector that has made a mark in the healthcare industry in the last decade. The market has witnessed a spurt in technology and has grown with the rise in diagnostic and therapeutic devices. With a variety of sports gaining popularity, sports medicine is all set to play an extremely vital role in a sportsperson’s vital statistics, monitoring, and diagnostics by maintaining the highest level of balance between body exhaustion and recovery.
The global sports medicine market, a subset of the orthopedic market, has been on a rising trend largely supported by increased number of cases of sports injuries owing to a shift in the demographic trends towards the elderly population and changes in lifestyle mainly pertaining to the younger population. Also, receding price responsiveness buoyed by improvements in global macro environment has further helped enlarging the patient base for the market. Under this market, majority of procedures are performed to repair knee damage, most notably to the meniscus, treating sport related injuries such as anterior cruciate ligament (ACL) damage, as well as age related damage from rheumatoid arthritis. Sports Medicine consists of products used in orthopedic surgery for treatment of soft tissue injuries to the knee, hip and shoulder. These procedures are increasing in frequency as the population ages and wishes to stay more active.
The report “Global Sports Medicine Market” provides an in-depth analysis of the global market for sports medicine and orthopedics market. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The major players in the industry, Smith & Nephew, Stryker Corporation, Johnson & Johnson and Zimmer Biomet Holdings, Inc. are being profiled.
The key factors driving the growth of the sports medicine market are rising interest in sports activities, rising healthcare expenditure, growing infrastructure in sports medicine market, rising popularity of sports and ageing population. Some of the noteworthy trends and developments of this industry are growth of compression clothing and rising popularity of robotic assisted arthroscopy. However, the expansion of global sports medicine market is hindered by high costs of implants and new technology, declining reimbursement rates, lack of trained healthcare workers and stringent regulations.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.