Sports Medicine Market by Product Type (Implants, Arthroscopy, Prosthetics, Orthobiologics, Braces, Topical Pain Relief, Thermal Therapy, Compression Clothing, Bandages & Tapes), by Application (Knee, Shoulder) - Analysis & Global Forecast to 2020
The sports medicine market comprises products and devices used by professional or non-professional athletes or sportspersons to prevent and protect themselves from injuries as well as devices that enhance performance. The sports medicine products play an important role in the rehabilitation, recovery, protection, endurance, and monitoring of athletes while playing sports.
Over the years, the sports medicine market has witnessed various technological advancements made to ensure and provide better recovery and rehabilitative measures for injuries caused during sports or physical activities. These advancements have led to the development of new products and therapies to treat sports injuries. Various market players are focusing on the introduction of newer products and treatment options for sports injuries. A number of key players are competing to secure larger shares of the market by launching new products. Arthrex, Inc. (U.S.), Smith & Nephew PLC (U.K.), DePuy Synthes Companies (U.S.), Stryker Corporation (U.S.), and CONMED Corporation (U.S.) are the top five players of this market
In 2015, the body reconstruction & repair products segment is expected to account for the largest share of the global sports medicine market, by product, while the knee injuries segment is expected to account for the largest share of the sports medicine market, by application.
In 2015, North America is expected to account for the largest share of the global sports medicine market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In the coming years, the sports medicine market is expected to witness the highest growth rate in the Asia-Pacific region, with emphasis on India, China, and Japan. The entry of international players, increasing government initiatives, and rising awareness regarding sports medicine in emerging nations like India and China are expected to drive the market in these regions.
The sports medicine market witnesses high competitive intensity as there are several big and many small firms with similar product offerings. These companies adopt various growth strategies (agreements, partnerships, joint ventures, geographic expansions, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps firms garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the sports medicine market. The report analyzes the sports medicine market, by product and application.
Product Development/Innovation: Detailed insights on the upcoming R&D activities and new product launches in the sports medicine market
Market Development: Comprehensive information on lucrative emerging markets. The report analyzes the markets for various sports medicine market technologies across regions
Market Diversification: Exhaustive information on new products, untapped regions, recent developments, and investments in the sports medicine market
Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the sports medicine market
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