Sports medicine devices are used to prevent and treat sports-related injuries. Some key sports medicine devices include arthroscopic devices, fracial reconstruction devices, orthopedic bracing & support devices and prosthetic devices. These devices provide effective recovery and rehabilitation of injured bones and joints, which allows athletes to return to sports and physical activities in a quicker manner.
Market key trends:
The adoption of minimally invasive procedures has accelerated growth of the sports medicine devices market. Minimally invasive procedures require only small incisions and cause less damage to tissues, muscles and nerves as compared to traditional open surgeries. They result in less pain, scarring, blood loss, and faster recovery times for athletes. This allows athletes to return to their sport in a quicker manner. As a result, the demand for sports medicine devices that enable minimally invasive procedures such arthroscopic surgical equipment is increasing. The growing preference for minimally invasive procedures is a major trend driving growth of the global sports medicine devices market.
Segment Analysis
The global sports medicine devices market is dominated by the orthobiologics sub-segment. This segment accounts for around 30% share of the overall market. This is because orthobiologics such as bone graft substitutes, stem cells, visco-supplementation agents, platelet rich plasma etc. aid in faster healing of damaged tissues during sports related injuries. They reduce healing time and promote tissue regrowth. This helps athletes resume their sports activities quickly without much downtime.
Key Takeaways
The Global Sports Medicine Devices Market Demand is expected to witness high growth over the forecast period due to rising sports injuries globally. An increasing number of people is participating in sports and recreational physical activities which has increased the risk of injuries. This is driving the demand for various sports medicine devices for effective treatment of injuries. The global Sports Medicine Devices Market is estimated to be valued at US$ 1451.34 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Regional analysis:
North America holds the dominant share in the global sports medicine devices market. This is due to increased adoption of advanced devices for active lifestyles and sports culture. Additionally, favorable reimbursement policies are also supporting the market growth. Asia Pacific is expected to grow at the fastest rate during the forecast period due to rising healthcare infrastructure and expenditure on sports medicine.
Key players:
Key players operating in the sports medicine devices market are Celanese Corporation, Dairen Chemical Corporation, Japan VINYL ACETATE MONOMER & POVAL Co. Ltd., Kuraray Co. Ltd., LyondellBasell Industries, Ningxia Yinglite Chemical Co., Ltd., China Petroleum & Chemical Corporation (Sinopec Corp.), The Dow Chemical Company. These players are focused on developing advanced sports medicine devices through extensive R&D activities to strengthen their market position.
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