Dallas, Texas, Aug. 27, 2019 (GLOBE NEWSWIRE) — The sports medicine market is expected to register a CAGR of 7.5% during the forecast period (2019-2024). Certain factors that are fueling the market include rising burden of sports injuries, consistent innovation of new products and treatment modalities, and 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, in the United States, about 30 million kids and teenagers participate in some form of organized sports. More than 3.5 million injuries occur each year in the United States, which cause some loss of time of participation experienced by the participants. Almost one-third of all injuries incurred in childhood are sports-related injuries.
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Similarly, the European countries have a large population engaged in various sports, like football, basketball, volleyball, rock climbing, boating, bike, car racing, etc., which carry an inherent risk of serious injuries or wear and tear, due to extreme training programs. It is estimated that approximately six in 1,000 unintentional fatal injuries can be attributed to sports, such as rock climbing, water sports, or horse-related sports (Equestrian Activities).
About 4.5 million people, aged 15 and over, have been treated in hospital for a sports injury (as defined by the EU IDB catalog of sports). According to the statistics, about 25% of sports injuries affect the 15-24-year-old category. Team ball sports, a major segment of sporting category in Europe, account for approximately 40% of all hospital-treated sports injuries. Apart from EU IDB, as per the Stop Sports Injuries, Youth Sports Injury Statistics, 2016, about 40% of all sports-related injuries treated in hospitals are for children in the age group of 5-14 years.
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 in the developing part of the world, as sports and physical activities are gaining significance in the region. The current high rate of injury in the developed countries, along with increasing incidences of injury in developed and developing countries, is expected to drive the sports medicine market across the world.
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Scope of the Report
Sports medicine acts as a bridge between science, exercise, and health. Moreover, it catalyzes scientific assessment, study, and understanding of sports performance. It involves combined efforts of athletic trainers, physicians, physical therapists, and sports scientists to collaborate and provide the best possible medical care for athletic injuries and illnesses.
Key Market Trends
Implants are Expected to Grow at a Faster Pace in the Product Segment
Under sports injuries sub-segment of the market studied, there has been a continuous evolvement toward 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.
The companies are advancing their technology on the absorbable polymer, such as the development of calcium polymer composite materials for a number of advantages over MRI imaging, metal contamination, and better healing, over a period of time. In major sports injuries, meniscus tears are very common, where often total knee replacement is considered for the treatment. However, in regards to the same, Active Implants has made significant advancements with its NUsurface Meniscus Implant, for the treatment of persistent knee pain.
RTI Surgical is another major company advancing in bone and tissue grafts for natural implantation, and faster times in the operating room. The metal and synthetic technologies for implant procedures have been used for many years, where a significant expense takes place in the R&D of a company. Implants secure a significant portion of the company’s business, primarily involved in sports injuries and medicine. With a large segment of the American and European population involved in the sports at all ages, the demand is expected to show a consistent rise. Owing to the growth of the middle-income population, with higher healthcare expenditure and awareness about sports medicine in each country, the market is expected to register a higher growth rate during the forecast period.
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United States Dominates the Market in the North American Region and is Anticipated to Follow the Same Trend in the Future
The United States has the largest share in the market, mainly due to the high frequency of sports injuries occurring in the region. About 30 million children and teens in the country participate in some form of organized sports.
According to the Stanford Children’s Health report, more than 3.5 million injuries occur in the United States each year, which results in loss of time of participation. One-third of the injuries that occur in childhood are sports-related, among which, sprains and strains are the most common.
Around 21% of all traumatic brain injuries among American children are from sports and recreational activities. Injuries in the knee (Patellofemoral Syndrome), shoulder, elbow, sciatica, and hamstring strain (muscle or tendon) are the most common sports injuries in the country.
In February 2017, Smith & Nephew PLC entered into an agreement with Leaf Healthcare, a California-based developer of a unique wireless patient monitoring system for injury prevention. This agreement enables the use of this technology by a nationwide customer base. LEOMO Inc., a company headquartered in San Diego, has entered into a partnership with sports medicine and biomechanics researchers, in order to validate that its product, TYPE-R, can offer benefits in identifying, responding to and avoiding injuries in athletes, especially in competitive cyclists, triathletes, and coaches. With many sports injuries and major players involved in active research, the sports medicine market in the United States is expected to grow during the forecast period.
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The sports medicine market is dominated by few major players and is moderately competitive. 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.
Major points from Table of Contents:
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Segmentation
6 Competitive Landscape
7 Market Opportunities and Future Trends
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