Sports Medicine Market Industry, Size, Share, Trends, and Forecast 2018 - 2026
Posted by Pareesh on February 27th, 2019
Continuous development of new products by medical device companies in sports medicine is also expected to boost the sports medicine market growth over the forecast period (2017–2025). In July 2015, Mitek Sports Medicine — part of DePuy Synthes companies of Johnson & Johnson — introduced two new arthroscopic surgery radiofrequency devices, the VAPR TRIPOLAR 90 Suction Electrode and the VAPR ARCTIC Suction Electrode, to enhance soft tissue ablation and coagulation during arthroscopy surgery.
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Sports medicine involves treatment and prevention of injuries related to sports or exercise. It involves the use of various instruments, technologies, and implants to perform minimally invasive surgeries of the joints, including the repair of soft tissue injuries and degenerative conditions of the knee, hip and shoulder. In 2015, Smith & Nephew launched iQ-FIX All-suture anchor for procedures such as rotator cuff repair in the shoulder and labral repair in the shoulder and hip.
Sports professionals and athletes are early adopters of novel treatment methods. They focus on less invasive methods of injury management for faster recovery. Therefore, minimally invasive and small incision replacement surgery are gaining significant traction for improved rehabilitation and pain management to accelerate post-surgery recovery. Moreover, benefits of minimally invasive replacement procedure, which includes less damage to soft tissues aids in quick and less painful recovery.
Key players in the market are engaged in strategic acquisitions and collaborations to increase their product portfolios and to introduce new platform technologies. For instance, in April 2016, Zimmer Biomet Holdings, Inc. entered into a definitive agreement to acquire — Arizona-based Cayenne Medical, Inc. — to strengthen Zimmer Biomet's Sports Medicine capabilities and portfolio of technically advanced soft tissue reconstruction solutions for knee, shoulder, and extremities procedures.
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Additionally, growing demand for outpatient, minimally invasive surgeries are key factors contributing to growth of the sports medicine market. Athletes of all competition levels are early adopters of novel treatment methods. They are driven to find less invasive methods of injury management and faster means of returning to their sport activities. So minimally invasive and small incision replacement surgery is an evolving area with improved rehabilitation and pain management to accelerate post-surgery recovery. Furthermore, Manufacturers are focusing on introducing cost-effective and wear- reducing quality products in order to enhance their product offerings and increase market share that accelerates the demand for sports medicine devices.
Some of the key players in sports medicine market are Zimmer Biomet, Smith & Nephew Plc, Johnson & Johnson, Breg, Inc., Wright Medical Group N.V., Medtronic Plc, Stryker Corporation, Mueller Sports Medicine, Inc., DJO, LLC, Conmed Corporation, and RTI Surgical, Inc.
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About the AuthorPareesh
Joined: May 31st, 2017
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