Published on : Jul 08, 2016
Sports medicine devices entails the overall variety of medical products for the cure, recovery, and prevention of injuries caused by sports activities. This market is characterized with minimally invasive arthroscopic procedures requiring minimum stay in the hospital and a long lasting impact. The global sports medicine devices market was valued at US$6.1 bn in 2012 and is anticipated to touch US$8.3 bn in 2019, by rising at a CAGR of 4.40% from 2013 and 2019. The prime factors providing an impetus to the sports medicine devices market are elaborated as under:
- Emergence of Small Compatible Devices and Wireless Technology: With the advent of small, portable, and cutting-edge devices, even the physically challenged population is able to participate in some kinds of sport activities. In addition, wireless technology has also been introduced within portable healthcare devices, thus enabling the mobility of physically challenged people within both hospitals and at home.
- Increasing Adoption Social Media Platforms and Online Marketing: The growing online retailing has emerged as a prime factor fuelling the development of the market for sports medicine market. This is owing to a large number of benefits associated with online marketing such as thorough information on the price and product of orthopedic as well as recovery products being sold within this market.
Additionally information on these products can also be gathered with the help of social media as well as online advertisements presented by the companies operating in healthcare. Consumers can likewise select the suitable products to cater to their needs. This factor stimulates the growth of the market.
- Increasing Awareness amongst Baby Boomers to Stay Fit: In addition to the younger generation, even the baby boomers globally are given high preference to staying fit and healthy. Thus, they are taking steps for maintaining the same. In addition, the growing awareness about the decreased disease risk by inculcating exercise in the daily routine has also resulted in an increased activity level amongst baby boomers. Baby boomers involved in high intensity sports activities are more prone to the risk of injuries because of aging as well as weak bones. Therefore, the rising count of baby boomers involved in sports activities may raise the requirement for sports medicine devices, in turn spurring the growth of the market.