The global sports medicine market will likely reach $12.5 billion by 2025, according to a Grand View Research report.
Here are seven observations:
1. The market is expected to grow at a compound annual growth rate of 7.7 percent through 2025.
2. An increasing number of sports-related injuries is the primary market driver.
3. The introduction of more minimally invasive surgical products will also spur market growth.
4. In 2016, the knee application segment accounted for the largest market share.
5. Body reconstruction and repair devices will see hefty growth through 2025.
6. Cardiology, in vitro diagnostic devices and drug delivery represent the most lucrative therapeutic segments.
7. North America dominated the scene in 2016, due to enhanced healthcare infrastructure and high healthcare expenditure.
8. Key sports medicine market players include:
• Stryker Corp. in Kalamazoo, Mich.
• Arthrex in Naples, Fla.
• ArthroCare in Austin, Texas
• Tornier in Bloomington, Minn.
• Wright Medical Technology in Memphis, Tenn.
• DJO Global in Vista, Calif.
• Otto Bock Healthcare in Duderstadt, Germany
• Ossur in Reykjavik, Iceland
• Zimmer Biomet in Warsaw, Ind.
• Smith & Nephew in London, United Kingdom