The sports medicine market witnesses high competitive intensity as there are several big and many small firms with similar product offerings. These companies adopt various growth strategies (agreements, partnerships, joint ventures, geographic expansions, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
In 2015, North America is expected to account for the largest share of the global sports medicine market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In the coming years, the sports medicine market is expected to witness the highest growth rate in the Asia-Pacific region, with emphasis on India, China, and Japan. The entry of international players, increasing government initiatives, and rising awareness regarding sports medicine in emerging nations like India and China are expected to drive the market in these regions. Sports Medicine Market by Product Type (Implants, Arthroscopy, Prosthetics, Orthobiologics, Braces, Topical Pain Relief, Thermal Therapy, Compression Clothing, Bandages & Tapes), by Application (Knee, Shoulder) - Analysis & Global Forecast to 2020 Offered by RNRMarketresearch.com
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In 2015, the body reconstruction & repair products segment is expected to account for the largest share of the global sports medicine market, by product, while the knee injuries segment is expected to account for the largest share of the sports medicine market, by application. The sports medicine market comprises products and devices used by professional or non-professional athletes or sports persons to prevent and protect themselves from injuries as well as devices that enhance performance. The sports medicine products play an important role in the rehabilitation, recovery, protection, endurance, and monitoring of athletes while playing sports. Over the years, the sports medicine market has witnessed various technological advancements made to ensure and provide better recovery and rehabilitative measures for injuries caused during sports or physical activities.
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Various market players are focusing on the introduction of newer products and treatment options for sports injuries. A number of key players are competing to secure larger shares of the market by launching new products. Arthrex, Inc. (U.S.), Smith & Nephew PLC (U.K.), DePuySynthes Companies (U.S.), Stryker Corporation (U.S.), and CONMED Corporation (U.S.) are the top five players of this market
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