LOS ANGELES, May 23, 2019 (GLOBE NEWSWIRE) -- The Global Sports Medicine Market is estimated to grow at CAGR above 7 % over the forecast time frame 2019-2026 and reach the market value around USD 13 billion by 2026.
Lifestyles and changes to a healthier living are expected to continue to fuel growth, combined to increase the incidence of sports injuries and professional athletes worldwide.
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Launching new games at Olympics and other international sporting events encourages people to pursue their careers in sport. In 2016, for example, Rio Olympics introduced kitesurfing. The International Olympic Committee also announced five new sports to be added at Tokyo 2020, covering skateboarding, surfing, softball, snowboarding, karate and sports climbing.
In addition, the number of young people seeking professional sport is expected to increase in sports-related advantages. Some of these advantages include high pay, famous status and fame, the availability of other income sources, like backing and access to best health care. This factor is expected to drive sports as the main career that will lead the sports medicine market.
The presence of opportunities, such as business finance and bursaries, and the development of sport infrastructure is anticipated to boost the growth of the market in sports medicine. The number of people looking for a sport career is expected to increase. Athletes are vulnerable to injuries and accidents that are likely to drive the market. For example, Qatar's Sports Strategy (2011-2016) promotes an increase in their citizens ' physical activity and promotes professional sports participation. Therefore, market growth over the forecast period is expected.
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People with Disabilities Participate In Sports Activities Swells Demand
Online marketing support is supposed to bode well for the world market in sports medicines. However, in the foreseeable future there are some more important factors which might significantly boost market growth. For example, it can not be turned blind eyes to encourage the specialist to take part in sports. In addition, an increasing awareness about the fitness and health of elderly people is expected to set the tone for valuable market growth and the count of sports medicine organizations is increasing.
In the world of sports medical device markets, some orthopedic products can showcase increasing demand, for example arthroscopy devices. The prothesis market, on the other hand, is anticipated to show a slow growth pace. Nevertheless, demand in the world market might rise as the star segment under support and restoration products grows impressively.
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Key Findings
The reconstruction and repair segment is projected to account for the biggest market share in the forecast period in terms of revenues.
The growth of this segment contributes to increasing cases of sport injury combined with healthy lifestyle.
The segment of knee equipment is expected to grow most rapidly during the forecast period.
The growth of this segment is expected to drive an increasing rate of sport-related operations and an increasing number of people who choose sports as a career.
Due to the increase in the number of sports related surgeries in the region, the sporting medicine market in Asia Pacific is expected to grow rapidly over the forecast period.
Key Players & Strategies
Stryker Corporation; Arthrex are prominent market players. Other includes Wright Medical Technology; DJO Global Inc.; and Tornier N.V.; are involved in the adoption and partnership adoption of strategies such as mergers and acquisitions.
For example, in July 2015, during the Annual Meeting of the American Orthopedic Society of Sports Medicine (AOSSM), Mitek Sports Medicine, a division of DePuy Orthopedics, Inc. launched a VAPR radio frequency device. In these instances, the global reach of the company is expected to increase.
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