New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sports Medicine Devices Global Market Report 2023" - https://www.reportlinker.com/p06457493/?utm_source=GNW
, Karl Storz SE & Co. KG, RTI Surgical, Medtronic, Santen Pharmaceutical Co. Ltd., and Kubota Pharmaceutical Holdings Co. Ltd.
The global sports medicine device market is expected to grow from $6.86 billion in 2022 to $7.44 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $9.85 billion in 2027 at a CAGR of 7.2%.
The sports medicine devices market consists of sales of pedometers, accelerometers, heart rate monitors, sleep monitors.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sports medicine devices refer to devices that aid in the recovery of patients from injuries sustained while participating in sports, exercise, or other physical activities. It is used to avoid and treat musculoskeletal issues such as sprains, strains, fractures, and ligament repairs, as well as repetitive motion injuries and upper and lower back pain from sports.
North America was the largest region in the sports medicine device market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in sports medicine devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of sports medicine devices are orthopedic devices, body reconstruction and repair, body support and recovery, body monitoring and evaluation, and accessories.An orthopedic device refers to a piece of specialized gear created to treat deformities or maintain and restore the functionality of the human skeleton, its joints, and related components.
There are orthopedic products such as artificial joint implants, arthroscopy devices, fracture repair devices, prostheses, and orthobiologic recovery and support products such as braces, performance monitoring devices, accessories, and others. The various end users are ambulatory surgical centers, hospitals, orthopaedic clinics, and others, that are involved in knee injury, shoulder injury, ankle-foot injury, back-spine injury, hand-wrist injury, hip-groin injury, and arm-elbow injury.
The rise in sports injuries is expected to boost the growth of the sports medicine device market going forward.Sports injury refers to the various types of wounds that commonly occur during athletic activity.
Sports medicine devices are utilized for more than just injury treatment; they can also be used for performance training, physical therapy, and injury prevention; hence, the rise in sports injuries is expected to boost the sports medicine devices market.For instance, according to a report published by the National Safety Council (NSC), a US-based public service organization promoting health and safety, Injuries from sports and recreation have increased by 20% in 2021.
Injuries occurring while using recreational and leisure equipment required emergency care for 3.2 million people in 2021. Males are harmed approximately twice as often as females (2,158,887 females vs. 4,148,404 males), and 91% of injury victims are treated and released from emergency departments in 2021. Therefore, the rise in sports injuries is driving the growth of the sports medicine device market.
Technological advancement is the key trend gaining popularity in the sports medicine device market.Major companies operating in the sports medicine device market are focusing on developing new technologies.
For instance, in September 2021, Smith & Nephew, a UK-based medical technology company, launched the JOURNEY II Medial Dished (MD).The product is distinguished by its ability to provide more normal kinematics regardless of the state or absence of the posterior cruciate ligament (PCL).
The whole JOURNEY II collection is designed to mimic the normal forms, postures, and mobility of the healthy knee.
In January 2021, DJO LLC, a US-based medical device company, acquired Trilliant Surgical for an undisclosed amount.The acquisition of Trilliant Surgical’s cutting-edge product technology and clinical effectiveness supports DJO’s targeted development into the nearby $1 billion US foot and ankle market, which is seeing rapid growth.
Trilliant Surgical is a US-based manufacturer and provider of surgical equipment including sports medicine devices.
The countries covered in the sports medicine devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sports medicine devices market research report is one of a series of new reports from.The Business Research Company that provides sports medicine devices market statistics, including sports medicine devices industry global market size, regional shares, competitors with a sports medicine devices market share, detailed sports medicine devices market segments, market trends and opportunities, and any further data you may need to thrive in the sports medicine devices industry.
This sports medicine devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06457493/?utm_source=GNW
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