The growing number of people injuring themselves during sport is driving the sports medicine implants market, states a new report by healthcare experts GlobalData.
According to the research*, an increase in injury rates in combination with an aging population and more technologically advanced implant options will see the global sports medicine implant market grow from a 2011 figure of $1 billion, to reach $1.6 billion by 2018, at a Compound Annual Growth Rate (CAGR) of 6.7%.
The US has the largest market for these implants, accounting for 49% of the global market last year. The 2011 value stood at $517.8m, which GlobalData expects will increase at a CAGR of 6.8% by 2018 to reach $820m.
There was a 27% increase in football-related injuries among children and adolescents aged between six and 17 years during 1990-2007, with an estimated 5,252,721 being treated in US emergency departments. Soft tissue damage accounted for approximately 24% of these injuries – an ailment that often requires the use of sport medicine implants.
Advances in implant technology are also set to play a role in boosting the sports medicine implants market. There is a growing preference for implants constructed from biocomposite materials, due to their greater efficacy and safety when compared to traditional metal varieties.
Advantages of newer implants also enable easier post-operative imaging, revision surgery, and the enabling of bone formation within the screw. These implants are, however, more expensive than their metal counterparts, and most major manufacturers have launched biocomposite models in order to benefit financially from the surging adoption rates.
Arthrex was the leading company in sports medicine implants market in 2011, with a 23% share worth over $200m. GlobalData attributes the company’s dominance to a broad product portfolio, a strong sales and distribution network, and a wide geographical spread. Smith & Nephew followed closely with a 22% portion of the market, followed by DePuy and Stryker, with 17% and 10%, respectively.
NOTES TO EDITORS
*Sports Medicine Implants - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2018
This report provides key data, information and analysis on the global sports medicine implants market. It also provides market landscape, competitive landscape and market trends information on the sports medicine implants market.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
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