Asia-Pacific Sports Medicine Market, By Products (Body Reconstruction Products, Body Support and Recovery Products), Application (Knee, Hip, Shoulder and Elbow, Foot and Ankle, Hand and Wrist, Back and Spine Injuries, Other Injuries), Procedure (Knee Arthroscopy Procedures, Hip Arthroscopy Procedures, Shoulder and Elbow Arthroscopy Procedures, Foot and Ankle Arthroscopy Procedures, Hand and Wrist Arthroscopy Procedures, Others), End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Others), Country (China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Sports medicine market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.6% in the forecast period of 2020 to 2027 and is expected to reach USD 1,555.00 million by 2027. The rising demand for minimally invasive surgeries and growing influx of new products and treatment modalities are the major drivers which propelled the demand of the sports medicine market in the forecast period.
Sports medicine is a type of medicine field which is used as a prevention and treatment of injuries and disorders that are occurring while participation in sports. Sports medicine comprised with the various types of body reconstruction products such as implants, fracture and ligament repair products, arthroscopy devices, prosthetics, orthobiologics and body support and recovery products such as braces and supports, compression clothing, physiotherapy equipment, thermal therapy, electrostimulation and accessories which are used as sports medicine to treat multiple types of injuries.
Increasing incidence of sports injuries, rising demand for minimally invasive surgeries, increasing adoption of arthroscopic surgeries, growing influx of new products and treatment modalities are the main drivers for the sports medicine market growth. However, the high cost of sports medicine products and risk associated with implant devices are expected to hinder the growth of sports medicine market during the forecast period.
The increasing demand for 3D-printed implants is acting as an opportunity for growing the demand of the sports medicine market. The lack of skilled and certified professionals is acting as a challenge which hampers the growth of sports medicine market.
The sports medicine market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the sports medicine market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The sports medicine market is categorized into four notable segments which are based on the products, application, procedure and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the sports medicine market is segmented into body reconstruction products and body support and recovery products. In 2020, body reconstruction products segment is expected to dominate the sports medicine market due to increasing cases of sports injuries as sports athletes need to take care of their body parts during sport activities and maintains it for long run.
- On the basis of application, the sports medicine market is segmented into knee, hip, shoulder and elbow, foot and ankle, hand and wrist, back and spine injuries and other injuries. In 2020, knee segment is expected to dominate the sports medicine market due to increasing knee fractures and ligament tears leading to growing knee applications in the sports medicine market worldwide.
- On the basis of procedure, the sports medicine market is segmented into knee arthroscopy procedures, hip arthroscopy procedures, shoulder and elbow arthroscopy procedures, foot and ankle arthroscopy procedures, hand and wrist arthroscopy procedures and others. In 2020, knee arthroscopy procedures segment is expected to dominate the sports medicine market due to increasing knee disorders which helps boost the demand of knee arthroscopic procedures to treat knee injury in sports medicine worldwide.
- On the basis of end user, the sports medicine market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers and others. In 2020, hospitals segment is expected to dominate the sports medicine market due to increasing usage of sports medicine in surgical implants such as knee, shoulder, wrist and elbow to treat any kind of sports injury.
Asia-Pacific Sports Medicine Market Country Level Analysis
Asia-Pacific sports medicine market is analysed and market size information is provided by country, products, application, procedure and end user as referenced above.
The countries covered in the Asia-Pacific sports medicine market report are the China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and rest of Asia-Pacific.
Asia-Pacific will grow with the highest CAGR in forecast period because in Asia-Pacific countries, growing influx of new products and treatment modalities due to active government participation is encouraging sports activities. China is expected to dominate the Asia-Pacific sports medicine market as China is one of the world's leading countries in the rapid influx of athletes.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
New Product Launches by manufacturers is creating New Opportunities for Players in the Sports Medicine Market
Sports medicine market also provides you with detailed market analysis for every country growth in aesthetic industry with sports medicine sales, impact of advancement in the sports medicine and changes in regulatory scenarios with their support for the sports medicine market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Sports Medicine Market Share Analysis
Sports medicine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to sports medicine market.
The major companies which are dealing in the Asia-Pacific sports medicine market report are Smith & Nephew, Zimmer Biomet, Stryker, Medtronic, Arthrex, Inc., Wright Medical Group N.V., Össur Corporate, CONMED Corporation, Johnson & Johnson Services, Inc., DJO, LLC (a subsidiary of Colfax Corporation) among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the sports medicine market.
- In September 2020, Smith & Nephew received product commercializing approval form National Medical Products Administration (NMPA) China to introduce REDAPT System for revision total hip arthroplasty (rTHA). This development helps the company to enhance its product category and generate adequate revenue for commercializing its products into the China market.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the sports medicine market which also provides the benefit for organisation to improve their offering for sports medicine.
Customization Available: Asia-Pacific Sports Medicine Market
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