New York, USA, April 26, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the North America sports medicine market is anticipated to garner $5,382 million in revenue and rise at a CAGR of 6.7% during the analysis timeframe from 2019 to 2025.
As per our analysts, with the active participation by governments in encouraging sports activities, rising incidence of sports-associated injuries, and the growing awareness of physical fitness among people, the market is expected to witness remarkable growth over the forecast period. Besides, the growing demand for minimally invasive surgeries among individuals is further expected to fortify the growth of the North America sports medicine market during the estimated timeframe. Moreover, the strong existence of skilled professionals in this field who have the experience to treat all kinds of patients is predicted to create massive growth opportunities for the market during the analysis period. However, inappropriate administration and unfavorable reimbursement strategies may impede the growth of the market over the forecast timeframe.
Segments of the Market
The report has been divided the North America sports medicine market into segments based on product and application.
Product: Body Reconstruction & Repair Sub-Segment to be Most Lucrative
The body reconstruction & repair sub-segment is expected to dominate the market and is predicted to have exponential growth throughout the analysis period. The increasing use of surgical instruments to treat patients suffering from sports injuries is expected to fuel the growth of the North America sports medicine market sub-segment over the forecast period.
Application: Knee Injury Sub-Segment to be Most Productive
The knee injury sub-segment is expected to have the highest share of the market during the estimated timeframe. Knee injury is a very common injury that a sportsperson face during his lifetime, and hence, it increases the use of sports medicine on a large scale which is the factor expected to augment the growth of the market during the analysis period.
Key Players of the Market
The major players of the North America sports medicine market include
- Wright Medical Group N.V.
- Smith & Nephew Plc.
- DJO Global, Inc.
- Stryker Corporation
- Mueller sports medicine, Inc.
- Johnson & Johnson (Depuy Synthes)
- Breg, Inc.
- Arthrex, Inc.
- Zimmer Biomet Holdings, Inc.
- Conmed Corporation (Linvatec Corporation).
These players are mainly working on the development of new business strategies and tactics such as mergers and acquisitions, product development, and partnerships and collaborations to obtain a leading position in the industry.
For instance, in December 2021, U.S. Orthopedic Partners (USOP), an integrated orthopedic care platform that provides the full continuum of musculoskeletal treatment to patients in the Southeastern United States, has announced its partnership with Andrews Sports Medicine & Orthopedic Center, a world-renowned orthopedic clinic, based in Birmingham, Alabama. With this partnership, the companies have aimed to bring more opportunities to uplift patient care and create 22 and more practice locations across Mississippi and Alabama.
In addition, the report also summarizes other vital aspects including product portfolio, SWOT analysis, the financial performance of the key players, and the latest strategic developments.
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