Sports Medicine Devices Market is Expected to Reach $5.7Bn by 2010

Thursday 6 September 2012, Amsterdam

Modern sports medicine has evolved greatly and involves the usage of a variety of devices such as braces and splints to secure the injured area. The market for sports medicine involves implants used in repairing bone and cartilage reconstruction, such as artificial knee, cartilage, and meniscus in the knee. Ligament and tendon injuries are one of the most common soft tissue injuries in sports. These include sprains, strains, muscle pulls, cramps, muscle tears, ligament, and tendon tears, among others. The sports medicine market caters majorly to the soft injuries market and accounts for a significant share of the global sports medicine market. Arthroscopy is a minimally invasive procedure, which has become popular in demand due to its minimally invasive nature and the fact that the procedure can be used as a system for diagnosing the condition of the joint. This has contributing significantly to the global sports medicine market.

The 2011 sports medicine devices market is estimated to be at $3.3 bn and is predicted to grow at a CAGR of 9.3% to reach $5.7 bn by 2017. Knee application still holds the largest share among others due to the high frequency of ACL injuries along with other conditions such as rheumatoid arthritis, meniscal cartilage damage, and patellar chondromalacia.

Basketball and soccer are two sports in the spotlight for an increase in the number of professional and non-professional players. These games, along with many other regional games, have increased in popularity in the past decade. This can be seen from almost a 5% to 8% rise in number of basketball players every year. These games, becoming popular in Asian countries such as China, Korea, India, and Eastern Bloc countries, can promote a very favourable outcome for the intensive sports medicine market. Research has shown that due to the large number of players and popularity of sports, the incidences of injury are high. This is predicted to propel the sports medicine market and create emerging markets in the growing economies of Asia and Latin America.