Global Sports Medicine Devices Market it to Hit $8.63B by 2020 — 10 Things to Know
Friday, October 7, 2016
Source: Beckers' Orthopedic Review
The global sports medicine devices market is set to hit $8.63 billion by 2020, based on a Zion Research analysis, according to medGadget.
Here are 10 things to know:
1. The global sports medicine devices market was worth $6.61 billion in 2014.
2. The market is expected to continue growing at a compound annual growth rate of 4.7 percent between 2015 and 2020.
3. The increasing popularity of sporting activities will spur market growth, as well as the growing awareness of physical fitness and a health lifestyle.
4. Additionally, the growing prevalence of sports associations and online marketing will promote sports medicine device demand.
5. A major market obstacle is costliness of the devices.
6. In 2014, the reconstructive device segment accounted for the largest global market share of 45 percent.
7. The knee segment accounted for the largest share with regard to applications in the market with a 20 percent share.
8. The Americas dominated the market in 2014, with a 43 percent market share.
9. Emerging economies in China, India, Brazil and Russia will promote a growing health awareness as well as the development of advanced sports facilities.
10. Leading market players include Arthrex, Arthrocare, Zimmer Biomet, Stryker, Wright Medical Technology, DJO Global, OttoBock Healthcare and Ossur.