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New York, USA, Sept. 21, 2020 (GLOBE NEWSWIRE) — According to the report, the North America sports medicine industry generated $ 3.58 billion in 2018, and is anticipated to garner $ 5.65 billion by 2026, witnessing a CAGR of 5.7% from 2019 to 2026.
Key determinants of the industry:
Increase in occurrence of injuries related to sports, growth in government participation in encouraging sports activities, and rise in awareness among people about physical fitness are factors that drive the growth of the North America sports medicine market. Furthermore, surge in the need for minimally invasive surgeries are anticipated to supplement the market growth during the forecast period. However, unfavorable reimbursement policies, lack of skilled professionals in this field, and inappropriate administration & guidelines regarding sports medicine hamper the growth of the market. On the other hand, growing influx of athletes and technological developments in sports medicine are projected to provide lucrative opportunities for market players in near future.
Quick Download Sample Report [80 pages] of North Americal Sports Medicine Market
Body reconstruction and repair segment to offer lucrative opportunities
By product, the body reconstruction and repair segment held the largest market share in the North America sports medicine market in 2018, contributing nearly half of the total share, and is expected to maintain its lead position during the forecast period. This is due to maximum revenue generated by use of surgical equipment for the treatment of sports injuries. On the other hand, the body monitoring and evaluation segment is estimated to grow at the highest CAGR of 6.4% from 2019 to 2026. This is attributed to the shift in preference for the use of latest body monitoring & evaluation devices.
Knee injuries segment to maintain its dominating position by 2026
Based on application, the knee injuries segment held approximately one-fourth of the total market share of the North America sports medicine market in 2018, and will uphold its leading position by 2026. This is due to the fact that knee injury is considered to be one of the most common injuries that a sportsperson encounters, and therefore involves significant engagement of sports medicines. Additionally, this segment is anticipated to grow at the highest CAGR of 6.4% from 2019 to 2026. The research also analyzes segments including shoulder injuries, hip injuries, back & spine, ankle & foot, elbow & wrist, and other injuries.
Top 10 Market players holding the major share
- Smith & Nephew Plc
- Stryker Corporation
- Johnson & Johnson (Depuy Synthes)
- Arthrex, Inc.
- Conmed Corporation (Linvatec Corporation)
- Zimmer Biomet holdings, Inc.
- Breg, Inc.
- Mueller sports medicine, Inc.
- DJO Global, Inc.
- Wright Medical Group N.V.
The report sketches various aspects of all these market players such as product portfolio, SWOT analysis, financial performance, and recent strategic moves & developments. – Quick Download Top Companies Development Strategies Summary Report [75 pages]
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