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Sports Medicine Market to Remain Strong, as Countries Continue to Adopt Arthroscopic Procedures

The global arthroscopic implants market value will increase from $2.2 billion in 2013 to $3.4 billion by 2020 says a new report from Reportstack

 
PRLog - Mar. 31, 2014 - SAN DIEGO -- Driven by the growing prevalence of sports injury, coupled with an ageing population, the global arthroscopic implants market value will increase from $2.2 billion in 2013 to $3.4 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 6.09%, says a new report on Sports Medicine – Global Analysis and Market Forecasts (http://www.reportstack.com/product/151929/medipoint-sports-medicine-global-analysis-and-market-forecasts.html)

This report focuses on the sports medicine market, which includes implants and arthroscopic capital equipment. The orthopedic sports medicine market (http://www.reportstack.com/product/151929/medipoint-sports-medicine-global-analysis-and-market-forecasts.html) has been estimated in this report and covers the US, France, Germany, Italy, Spain, the UK, Japan, Brazil, China and India. The report provides unmet needs, future adoption and compound annual growth rates (CAGR). GlobalData’s analysis shows that while the orthopedics implant market is mature, sports medicine is an area with the potential for significant international growth. With the market, the US remains to be the largest market with the EU to follow and growing. The APAC region while markedly smaller has a large potential patient population.The top six to seven market leaders continue to dominate the market through technological innovation and investment in establishing strong distribution networks. The major opportunity lies within technological advancement and the clinical trials to prove effectiveness of new techniques.

According to this report, the global arthroscopic capital equipment market value is also set to grow, from approximately $1.2 billion in 2013 to $1.7 billion by 2020, at a CAGR of 5.78%. In 2013, the US held the largest segment of the sports medicine industry, with a global share of 70% for arthroscopic implants and 53% for arthroscopic capital equipment. A senior Analyst covering Medical Devices, says: “Sports medicine technology is built on minimally-invasive arthroscopic implants and instruments. As the adoption of arthroscopic products continues to drive the market, these devices will also spill into other orthopedic segments, so that more patients can avoid having total joint replacement procedures.”

Currently, the sports medicine device industry is dominated by giant manufacturers, such as Smith & Nephew, Arthrex, DePuy Companies, Stryker, ConMed Corporation, ArthroCare and Biomet. In the US alone, these top players hold a combined 79% share of the market. The analyst continues: “The future outlook for the sports medicine industry remains positive in the western markets, with a substantial increase in new indications expected to boost procedure numbers over the forecast period. “On the other hand, countries such as Brazil, China and India have yet to see much growth. However, they will experience increasing adoption of arthroscopic procedures in the coming years, as surgeon training improves and more products are introduced into the markets.”

More details about this report can be found by visiting Sports Medicine Market (http://www.reportstack.com/product/151929/medipoint-sport...) report.

Other Reports from Reportstack:
Global Arthroscopy Devices Market Outlook to 2020 (http://www.reportstack.com/index.php/search/viewsearchres...)

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Reportstack
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Source:Reportstack
City/Town:San Diego - California - United States
Industry:Health, Medical
Tags:sports medicine, arthroscopic procedures, ArthroCare, Pharma Market, pharmaceutical industry
Shortcut:prlog.org/12302865
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