APAC Sports Medicine Market is Expected to Grow at a CAGR of 12.3% in the Forecast Period 2017-2024

APAC Sports Medicine Market is expected to reach USD 5,884.9 million by 2024 from USD 2,312.8 million in 2016, at a CAGR of 12.3% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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The major factors driving the growth of this market are the rising incidences of sport related injuries are driving the market growth, awareness among athletes to maintain their fitness levels. The sports medicine market in the Asia-Pacific region is leading in China, India, Japan, and South Korea.

Market Segmentation: APAC Sports Medicine Market

The APAC sports medicine market is segmented on the basis of product type, body area, end user, and geography. The APAC sports medicine market is segmented into 4 types, namely orthobiologics, surgical devices, arthroscopy devices, orthopaedic Braces and Supports. In 2017, surgical devices market segment is expected to account for the largest share of 47.9% of the APAC sports medicine market.

APAC sports medicine market is segmented into knee, hip, shoulder & elbow, foot & ankle and wrist & hand on the basis of body area.

On the basis of procedures, APAC sports medicine market is segmented into knee arthroscopic procedures, hip arthroscopic procedures, shoulder and elbow arthroscopic procedures, foot and ankle arthroscopic procedures, and hand and wrist arthroscopic procedures. Knee arthroscopic procedure market segment is expected to account for the largest share of 40.6% in APAC sports medicine market.

On the basis of end users, the market is classified into orthopedic clinics, hospitals, ambulatory surgical centers and others. In 2017, the hospitals segment is expected to dominate the APAC sports medicine market with 56.0% market share. This segment is expected to grow at the highest CAGR of 13.7% in the forecast period 2017 to 2024.

Rising incidence of sport related injuries are driving the market growth. Awareness among athletes to maintain their fitness levels has been a factor in promoting the growth of the sport medicine market in Asia Pacific. These factors increase the demand for devices such as bone graft substitutes, surgical devices, and arthroscopy devices.

• Minimally invasive procedures such as arthroscopy are in high demand since they significantly reduce the recovery time and result in reduced bleeding and scarring.
• Growing awareness of various lifestyle diseases has resulted in a significant increase in participation in various sports and physical activities across the globe.
• The use of regenerative medicine in sports injuries has led to very promising treatment options in sports medicine.

Key Points: APAC Sports Medicine Market

Arthrex, Inc. is going to dominate the APAC sports medicines market following with Smith & Nephew and DePuy Synthes, along with others such as Stryker Corporation, CONMED Corporation, Johnson & Johnson, Bird & Cronin, Inc., Zimmer Biomet, Anika Therapeutics, Ossur, Breg Inc., Mueller Sports Medicine, Inc., DJO global, Medtronic.

• Knee market segment is expected to dominate the APAC sports medicine market.
• Surgical devices market segment is expected to dominate the APAC sports medicine market. However, orthobiologics are growing with highest CAGR.
• The sports medicine market in the Asia-Pacific region is leading in China, India, Japan, and South Korea. Japan accounts for the highest market share in this region.