Global sports medicine devices market to $8.63 billion in 2020

Cleveland, Ohio – According to “Sports Medicine Devices Market: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 - 2020,” the market was valued at $6.61 billion in 2014 and is forecast to reach $8.63 billion in 2020, growing at a CAGR of 4.7% between 2015 and 2020.

The global sports medicine devices market can be classified into the product segments such as reconstructive devices, support and recovery devices, performance monitoring devices, and other accessories. Reconstructive devices can be further sub-segmented as foot orthotics and insoles and others. Reconstructive devices dominated the sports medicine devices market and accounted for around 45% share of the total market in 2014. Sports medicine market can also be segmented on the basis of applications such as foot & ankle, hip, knee, shoulder, spine and others. Sports medicine devices market was dominated by knee application segment with around 19% share of the market in 2014.

On the basis of different types of treatments, sports medicine devices market can be segmented as arthroscopy devices, braces, fracture repair devices, orthobiologics, monitoring devices, prostheses and joint implants, and other recovery products & accessories. Arthroscopy devices was leading market segment and accounted for slightly more than 23% share of the market in 2014. This is also expected to exhibit fastest growth during the forecast period. Major driving force for this segment is advancement in surgical technologies and increasing number of well qualified surgeons across the world.