The European sports medicine market was valued at USD 4.13 billion in 2014 and is projected to reach USD 5.90 billion by 2019. It is estimated to grow at a CAGR of 7.01% during the forecast period from 2014 to 2019.
Europe Sports Medicine Market-Market Dynamics
The report details several driving and restraining factors for the European sports medicine market. Some of these are listed below.
Some of the factors driving the market are:
Rising awareness among the athletes regarding their physical fitness
Increase in the number of sport-related injuries
Increase in the number of sport medicine associations all around Europe
The lack of properly skilled labor in the field of sports medicine has been a major setback that hinders the growth of this market. Additionally, the lack of proper reimbursement to the sport-related injuries has also been a major challenge faced by the sports medicine market.
This market has been segmented on the basis of the type of procedure into bone reconstruction & repair, ligament reconstruction & repair, cartilage reconstruction & repair, tendon reconstruction & repair, and surgery. On the basis of the type of product, the market has been segmented into orthopedic products (arthroscopy devices, soft tissue fixation devices, ortho biologics, fracture repair, artificial implants, and accessories) and recovery products (braces, thermotherapy, cryotherapy, ultrasound, electrical simulation devices, performance monitoring devices, and accessories). On the basis of the target area, the report is segmented into shoulder, knee, elbow, hand & write, foot & ankle, hip, groin, and spine. Lastly, on the basis of geography, the report is segmented into the U.K., Germany, France, Spain, Italy, and the Rest of Europe.
By specific type of sport, the ranking order in team ball sport is football (74.0%), basketball (8.0%), volleyball (7.0%), and handball (3.0%). Sports account for an estimated 3.65% GNP of the European Union. Annually, about 4.5 million people (aged 15 years and above) have to be treated in a hospital for a sports injury as defined by the EU IDB catalog of sports. Of those, 25.0% of sports injuries affect the 15-24-year-old category.
Some of the key players in the market are:
Bird and Cronin, Inc.
Cayenne Medical, Inc.
Cramer Products, Inc.
DePuy Mitek, Inc.
Mueller Sports Medicine, Inc.
Key Deliverables in the Report:
Global, regional and country-level analysis along with forecasts of the study market.
Study of the effect of exogenous & endogenous factors, viz. demographic, economic, and political factors, among others, which affect the market.
Porter's Five Forces framework incorporating the factors influencing each force to determine the intensity of competition.
Segment and sub-segment level analysis of the market for the review and forecast period.
Identification of key factors instrumental in changing the market scenario, exploiting new opportunities and gaining a competitive edge.
SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
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