North America Sports Medicine Market - Growth, Trends, and Forecasts (2020 - 2025)
The North America Sports Medicine Market is expected to register a CAGR of 7.9% during the forecast period. The market is expected to show rapid growth due to the rising burden of sports injuries, consistent innovation of new products and treatment modalities and the rising demand for minimally invasive surgeries.
Sports injuries include strains and sprains, spondylolysis and spondylolisthesis, stingers, disc injury, and Scheuermann's disease. According to the sports injury Stanford children health statistics, there are about 30 million kids and teenagers in the United States who participate in some form of organized sports and more than 3.5 million injuries occur each year in the United States. Almost one-third of all injuries incurred in childhood are sports-related injuries.
Moreover, trends suggest that incidences of injuries are expected to increase significantly in the coming years. Additionally, the rate of injury is expected to increase, like sports and physical activities are gaining significance in the region. The current high rate of injury along with increasing incidences of injury is expected to drive the sports medicine market.
Key Market Trends
Implants Segment is Expected to Grow at a Faster Pace in the North America Sports Medicine Market
Implants secure a significant portion of the company’s business, primarily involved in sports injuries and medicine. It has been observed that a large segment of the Americans, are involved in sports, and its demand is expected to show a consistent rise with the growth of the middle-income population. There has also been a continuous evolvement towards the development of bioresorbable implants. The use of arthroscopic procedures and absorbable implants are quite common for the treatment of sports injuries, for secure graft fixation.
As per National Safety Council Fact Sheet, in 2017, about 50% of the football injuries were treated in young people who were between 5 to 14 years, 45% of soccer injuries, 44% of baseball injuries and 40% of lacrosse and rugby injuries in the United States. In addition, in 2017 personal exercise, with or without exercise equipment, accounted about 526,000 injuries the most of any category of sports and recreation followed by basketball with about 500,000 injuries.
Furthermore, the metal and synthetic technologies for implant procedures have also been used for many years, where a significant expense takes place in the R&D of a company, thus the market is expected to register a higher growth rate during the forecast period.
The North America Sports Medicine Market is consolidated competitive and consists of a few major players. Major players of this market include Medtronic plc., CONMED Corporation, Smith & Nephew PLC, Stryker Corporation, and Zimmer Biomet Holdings Inc. With the technological innovations in the implants and the growing price competition, some new companies are also penetrating the market.
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