03.25.14
Driven by the growing prevalence of sports injury, coupled with an aging population, the global arthroscopic implants market value will increase from $2.2 billion in 2013 to $3.4 billion by 2020, at a compound annual growth rate (CAGR) of 6.1 percent, says a new report from research and consulting firm GlobalData.
According to the London, United Kingdom-based company’s latest report, the global arthroscopic capital equipment market value is also set to grow, from approximately $1.2 billion in 2013 to $1.7 billion by 2020, at a CAGR of 5.8 percent. In 2013, the United States held the largest segment of the sports medicine industry, with a global share of 70 percent for arthroscopic implants and 53 percent for arthroscopic capital equipment.
“Sports medicine technology is built on minimally-invasive arthroscopic implants and instruments," said Priya Radhakrishnan, GlobalData’s senior medical device analyst. "As the adoption of arthroscopic products continues to drive the market, these devices will also spill into other orthopedic segments, so that more patients can avoid having total joint replacement procedures.”
Currently, the sports medicine device industry is dominated by large players such as Smith & Nephew plc, Arthrex Inc., Johnson & Johnson's DePuy Synthes division, Stryker Corp., ConMed Corp., ArthroCare Corp. and Biomet Inc. In the United States alone, these top players hold a combined 79 percent share of the market, according to Global Data.
“The future outlook for the sports medicine industry remains positive in the western markets, with a substantial increase in new indications expected to boost procedure numbers over the forecast period," said Radhakrishnan. “On the other hand, countries such as Brazil, China and India have yet to see much growth. However, they will experience increasing adoption of arthroscopic procedures in the coming years, as surgeon training improves and more products are introduced into the markets.”
Global Data's report focuses on the sports medicine market, which includes implants and arthroscopic capital equipment. It provides analysis on unmet needs, future adoption and compound annual growth rates in the 10 major markets; the United States, France, Germany, Italy, Spain, the United Kingdom, Japan, Brazil, China and India.
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 analysts.
According to the London, United Kingdom-based company’s latest report, the global arthroscopic capital equipment market value is also set to grow, from approximately $1.2 billion in 2013 to $1.7 billion by 2020, at a CAGR of 5.8 percent. In 2013, the United States held the largest segment of the sports medicine industry, with a global share of 70 percent for arthroscopic implants and 53 percent for arthroscopic capital equipment.
“Sports medicine technology is built on minimally-invasive arthroscopic implants and instruments," said Priya Radhakrishnan, GlobalData’s senior medical device analyst. "As the adoption of arthroscopic products continues to drive the market, these devices will also spill into other orthopedic segments, so that more patients can avoid having total joint replacement procedures.”
Currently, the sports medicine device industry is dominated by large players such as Smith & Nephew plc, Arthrex Inc., Johnson & Johnson's DePuy Synthes division, Stryker Corp., ConMed Corp., ArthroCare Corp. and Biomet Inc. In the United States alone, these top players hold a combined 79 percent share of the market, according to Global Data.
“The future outlook for the sports medicine industry remains positive in the western markets, with a substantial increase in new indications expected to boost procedure numbers over the forecast period," said Radhakrishnan. “On the other hand, countries such as Brazil, China and India have yet to see much growth. However, they will experience increasing adoption of arthroscopic procedures in the coming years, as surgeon training improves and more products are introduced into the markets.”
Global Data's report focuses on the sports medicine market, which includes implants and arthroscopic capital equipment. It provides analysis on unmet needs, future adoption and compound annual growth rates in the 10 major markets; the United States, France, Germany, Italy, Spain, the United Kingdom, Japan, Brazil, China and India.
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 analysts.