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Market Highlights
Sports are now a days considered as a mean to maintain the health. Sports
medicines are used for the treatment of different sports injuries. North
America sports
medicines and therapies market is driven by increasing prevalence of sports
injures, introduction of sports education in schools, adoption of sports by
elderly people and increasing governmental support for research and development
of the sports medicines. Increasing health care expenditure per person is also
contributed for the growth of market. On other had lack of skilled
professionals handling pediatrics sports injuries and high cost of treatment
may hinder the growth of the market. North America sports medicine &
therapies market is expected to grow at a CAGR of 8.6 % during forecasted
period.
Geographically, North America sports medicine &
therapies market is dominated by US. US share 65% of the total North America
sports medicines and therapies market. Increasing pediatrics sports
injuries in US is the major reason for the development of the market. According
to the research one in every four school injuries are serious includes
dislocation, fracture and brain damage. 62 % of sports related injuries occur
during practices due to lack of safety measures.
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Segmentation:
North America sports medicine & therapies market is segmented on the
basis of product into helping fractures heal, surgical devices,
arthroscopy devices, orthopaedic braces. Helping fractures heal are further sub
segmented into bone graft substitutes, bone morphogenetics proteins,
viscosupplementation, PRP, bone marrow concentrate and other. Surgical devices
are sub segmented into plates, screws and other. Orthopaedic braces are sub
segmented into knee braces, foot braces and supports and other.
On the basis of area of application the market is segmented
into spine, foot and knee, hip, shoulder and elbow and other. On the basis of
procedures the market is segmented into tendinosis, tendon to bone and
cartilage repair. And on the basis of end user they are segmented into hospitals
& emergency care, trauma centers, ambulatory care and other.
Figure 1- North America sports medicine &
therapies market, by area of application
The major key player for the North America sports
medicines and therapies market are Smith & Nephew plc (UK), DePuy
Synthes (US), Medtronics (UK), Zimmer (US), Arthrex, Inc. (US), Stryker
Corporation (US), Breg, Inc. (US), CONMED Corporation (US), Tornier N.V. (US),
DonJoy, Inc. (US), Mueller Sports, Inc.(US), Ottobock Healthcare GmbH
(Germany), DJO Global (US), Cramer, Inc.(US).
Some of the key strategies adopted by these players are agreements and
collaborations, mergers and acquisitions, and new product launches. Many
companies are trying to launch new product to increase their market.
Smith & Nephew one of the global leaders in manufacturing healthcare
products that help medical professional to provide quality and efficient
healthcare headquartered in UK. This company share a major part of North
America sports medicine and therapies market. In 2017, Smith & Nephew plc
signed a distribution agreement and strategic investment with Leaf Healthcare,
Inc. and in 2016 company has acquired BST-CarGel, a first-line cartilage repair
product from Piramal Healthcare (Canada) Limited.
Medtronic is a global healthcare solutions company committed to improving the
lives of people headquartered in UK. Stratis, TriTis and ArthroPort Cannula
System are some of the major products of the company.
Stryker Corporation is a US headquartered medical
device company. Company is involved in manifracturing of different medical
devices which are used in the treatment of different injuries. Pivot
cinchlock, Iconix and Biosteon are some of the major products of the company.
In 2016, company has launched BIO Delivery System and in 2017 they has
announced their collaboration with AlloSource for the distribution of
medication use in treatment of sport injuries.
Arthrex, Inc a leading sports medicine and medical device
company headquartered in US. Arthroscopic Knotless TFCC Repair, Elbow Arthroscopy
Set Suture, FiberStick and ACL Preservation are the major products of the
company. This company share approximately 25% of total market share.
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