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It is expected that the global market for sports medicine devices will find players in the process of consolidation, which explains the development of its oligopolistic nature. The main players could focus on product differentiation, advertising and marketing during their stay in the market. In a Transparency Market Research (TMR) report, market personalities such as Össur hf., DJO Global, Inc. and ArthroCare Corporation are closely examined in the profile section of the company. Recently, the market witnessed an acquisition agreement between Smiths & Nephew and ArthroCare. The post-acquisition complementary product portfolio is expected to expand the product portfolio and increase revenues.
TMR predicts that the global market for sports medicine devices is expected to bring in $ 8.2 billion in revenue by 2019. Based on orthopedic products, arthroscopy devices could continue to take a more large share of the market in the short term. In terms of region, the market is expected to reflect the rise of North America as a dominant segment.
global-sports-medicine-devices-market-revenue-2012The participation of disabled people in sports activities is gaining momentum
The support provided by online marketing is expected to bode well for the global market for sports medical devices. However, some larger factors could significantly improve market growth in the near future. For example, the encouragement given to disabled people to participate in sports activities could not be ignored. In addition, the growing awareness of the fitness and health of older people and the growing number of sports medicine associations should set the tone for interesting market growth.
Some orthopedic products may represent a growing demand in the global market for sports medicine devices, such as arthroscopy devices. On the other hand, the prosthetics market is expected to grow slowly. However, demand in the global market could increase due to the impressive rise in orthopedic appliances as a star segment of support and recovery products.
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Reduced budget allocation for sports tests growth of market players
The growth in the international market for sports medicine devices is expected to decrease due to a reduced budget for sport. In addition, the lack of reimbursement policies reserved for academic sports injuries could hinder market growth in the years to come. However, the introduction of new implants and prostheses and the development of performance control equipment are being considered to create many opportunities in the market. The increasing frequency of sports injuries in Asia-Pacific and another region of the market could contribute to the demand for sports medicine devices.
The technological development of joint repair implants and the demand for minimally invasive procedures should be other factors of market growth over the next few years.
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