(PharmaNewsWire.Com, December 05, 2017 ) Market Outline: Sports Medicine Market
Sports medicine is the branch of medicine concerned with the physiological aspects of athletic performance especially treatment of injuries in sports and exercise. Sports medicine is also known as sports and exercise medicine (SEM). In general, sports medicine are used in prevention or immediate treatment of musculoskeletal injuries such as contusions, sprains, strains, meniscal injuries, bursitis and fractures & dislocations, which occur during the sports/exercise.
Market dynamics: Sports Medicine Market
Global sports medicine market is mainly driven by growing awareness related to physical fitness and rising incidents of sports injuries. Furthermore, increase in government funding for sports-related activities and advances in orthopaedics injuries management such as emergence of minimally invasive surgery techniques and allograft techniques are expected to boost the sports medicine market over the forecast period. In addition, companies R&D activities related to sports medicine and increase in sport activities globally boosting the sports medicine market. However, lack of skilled professionals for injuries treatment, and insufficient reimbursement policies for sports medicine are expected to hamper the growth of the during the forecast period.
Sports medicine market is expected to grow at significant rate owing to growing incidents of sports injuries. Sports medicicne market is characterised by diverse presence of multinational and regional market players. Companies are adopting collaborations and alliances for increasing their market revenue share. For instance, in May 2017, Stryker and AlloSource are collaborated to distribute biologics for sports medicine procedures. Through this collaboration, stryker sports medicine sales force will distribute AlloSource biologics for various sports medicine procedures. Furthermore, companies are acquiring small and medium-sized market players to diversify the product portfolio and strengthen their market position. For instance, in February 2015, DePuy Synthes Companies (Subsidiary of Johnson & Johnson Servieces Inc.) acquired Olive Medical Corporation, provider of high definition visualisation systems for minimally invasive surgeries, this acquisition aguments DePuy Synthes Miteck Sports medicine line.
Geographically, sports medicine market is segmented into Latin America, Europe, Asia- Pacific, North America, and the Middle East & Africa. North America medicine market expected to grow at notable rate owing to well-established healthcare market, presence of serval market players and growing health and fitness awareness among the people. Europe sports medicine market is expected to grow at significant rate owing to rising sports activities and growing rates of sports injuries. Asia Pacific sports medicine market is expected to be fastest growing market due to rising government funding for sport activities, developing healthcare infrastructure and growing awareness related to health and fitness.
Market participants: Sports Medicine Market
Some of the key players in market are Stryker Corporation (U.S.), Smith & Nephew Plc (U.K.), Johnson & Johnson Services Inc. (Depuy Mitek) (U.S.), Conmed Corporation (U.S.), Arthrex, Inc. (U.S.), Zimmer Biomet Holdings, Inc., (U.S.), Mueller Sports Medicine, Inc. (U.S.), Breg, Inc. (Orthofix) (U.S.), DJO Global, Inc. (U.S.), MedShape, Inc. (U.S.), Wright Medical Group Inc. (U.S.), NuVasive, Inc. (U.S.) and Osiris Therapeutics, Inc. (U.S.) to name a few.
Notable market developments: Sports Medicine Market
• In September 2016, Stryker Corporation acquired Ivy Sports Medicine, LLC, to strengthen its product portfolio in sports medicine market.
• In May 2016, Zimmer Biomet Holdings Inc. acquired Cayenne Medical, through this acquisition, Zimmer Biomet seeks to strengthen its sports medicine portfolio.
Key Features of the Report
• The report provides granular level information about The market size, regional market share and forecast from 2017-2023
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• The report outlines drivers, restraints, challenges, and trends that are currently faced by The industry
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• The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
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