Published on : Sep 22, 2016
ALBANY, New York, September 22, 2016: The demand for and sales of sports medicine devices is projected to receive a boost worldwide on account of a growing number of sports injuries, reports a new study added to the database of ResearchMoz.us. The report, titled, “Global Sports Medicine Devices Industry 2016, Trends and Forecast Report,” states that the growing trend of fitness among individuals in both emerging and developed markets will create new target markets for sports medicine device manufacturers. The focus of this report lies on the sports medicine devices industry in North America, Europe, and Asia Pacific. The four most important countries for sports medicine device sales—the U.S., Japan, Germany, and China—are analyzed in depth to gather actionable insights for players in the sports medicine devices industry.
A spurt in the number of sports medicine associations across the world and their endeavors to ensure that sports injuries are treated appropriately have also aided the sales of sports medicine devices. This is a trend that is also expected to have an influential role to play in the growth of the global sports medicine devices industry in the long term. Other factors at play in the global sports medicine devices industry are: A growing awareness regarding fitness among aged individuals, growing inclusion of the physically challenged and disabled in sporting activities, and new advances in sports medicines. With a sizable number of vendors now having a presence on online retail channels, the sales of sports medicine devices through e-commerce is also expected to show a gradual upswing through the report’s forecast period.
However, there are also a few factors that run counter to the growth of the global sports medicine devices industry. These include a hitherto underdeveloped medical reimbursement scenario for sports medicine. In several countries where sports injuries are not prioritized in national healthcare budgets, the development of the sports medicine devices industry is expected to remain sluggish. Moreover, the regional markets for sports medicine devices lie in the hands of smaller domestic players. This aspect has caused revenues to be divided to a great degree among companies spread across the world.
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Much of the revenues of the global sports medicine devices industry are currently concentrated in North America, which has put the region in the leading position worldwide. Remunerative opportunities are also arising in Asia Pacific and Rest of the World, the report finds. The portfolio of companies in the global sports medicine devices industry primarily comprises of orthopedic products, support products, and recovery products. The demand for arthroscopy devices and braces is considerably high across the world, making these segments important for the growth of the overall market.
Some of the key companies mentioned and/or profiled in the report are:
DJO Global, Inc., ArthroCare Corporation, Smith & Nephew PLC, Zimmer Holdings, Inc., Wright Medical Technology, Inc., Stryker Corporation, and 3M Company Ace Brand.
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