Industry Background:
Sports Medicine Devices are applicable for prevention of sports injuries as well as for the cure of recovery, cure and rehabilitation of athletes. Sports Medicine Devices market is expected to mark significant growth over forecasted period owing to increasing cases of sports injuries, rising awareness regarding diseases and technological advancement. There has been significant rise in number of exports of medicine devices with figure stood up to 43 billion in United States alone in 2018, the future for Sports Medicine Devices looks promising. The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on fastest-growing verticals in the sports industry sector.According to AMA, the market for Sports Medicine Devices is expected to register a CAGR of 7.54% during the forecast period to 2026. This growth is primarily driven by Increase Number of Sports Injuries Boost the Sport Medicine Device Market., Rise in Healthcare Infrastructure and Products Boost the Device Market. and Healthy Lifestyle Increase the Number of Sports as a Career Individual that Fuelled Up the Sport Device Market..
Globally, a noticeable market trend is evident Increase Application of Sport Medicine Device in Asia-Pacific Countries.
. The Medical Devices sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Arthrex, Inc (United States), Stryker Corporation (United States), Breg Inc. (United States), DJO Global, Inc. (United States), Sports, Inc. (United States), Wright Medical Group N.V. (United States), RTI Surgical (United States), Performance Health International Limited (United States) and Bauerfeind AG (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2019, Orthopaedic Implant Co. launched a suture anchor which is beneficial in increased blood flow and the product line boost the operational efficiencies, eliminating wastes and delivering equivalent implant systems.
Regulatory Insights:
“According to Food and drugs administration, its recommended that products that do not have FDA clearance or approval are being marketed to individuals, including parents and caregivers, athletic coaches, and health care providers for the assessment, diagnosis, or management of a head injury, including concussion. The FDA is issuing this communication to make the public and health care providers aware of the potential serious risks which may be associated with the use of unapproved or uncleared medical devices for the diagnosis, treatment or management of a concussion. The FDA reminds individuals to seek treatment by a health care provider if any head injury, including concussion, is suspected.”
Market Drivers
- Increase Number of Sports Injuries Boost the Sport Medicine Device Market.
- Rise in Healthcare Infrastructure and Products Boost the Device Market.
- Healthy Lifestyle Increase the Number of Sports as a Career Individual that Fuelled Up the Sport Device Market.
Market Trend
- Increase Application of Sport Medicine Device in Asia-Pacific Countries.
- Rise in Medical Tourism boost the Sport Medicine Device Market
Restraints
- Lack of Skilled Professional and Inappropriate Administration Hampers the Sports Medicine Devices Market.
- High Cost Associated with Implant of Sports Medicine Devices.
Opportunities
Proliferation of Sports Injury Management Services Leads to Grow the Sports Medicine Devices Market. and Upsurge Demand of Bone Reconstruction Devices.
Challenges
Stringent Regulatory Guidelines are anticipated to Challenge the Market.
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Sports Medicine Devices Study Sheds Light on
The Sports Medicine Devices Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Sports Medicine Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Sports Medicine Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.