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The Asia-Pacific Sports Medicine market is Segmented by Product (Implants, Arthroscopy Devices, Prosthetic, Orthobiologics, Braces, Bandages and Tapes, and Other Products), Application, and Geography
The Asia-Pacific Sports Medicine Market is expected to register a CAGR of 8.5% during the forecast period. The major factors driving the growth of the market are the rising incidence of sports injuries and rising demand for minimally invasive surgeries.
In Asia-Pacific, there is a rise in the number of people in sports and exercise activities, especially in the young population whereas the occurrence of injuries becomes very common during these activities. For instance, according to the Australian Institute of Health and Welfare, in Australia every year, millions of people participate in sport and physical recreation activities for many reasons, including competition, commuting, and enjoyment. During 2016–17, almost 60,000 people were hospitalized for sports injuries in Australia.
Thus, increasing participation in sports events and increasing trends towards maintaining health especially in the young population is a key factor driving the market to grow in the Asia-Pacific region. In addition, advancement in technology for curing sports injuries and minimal invasiveness in the treatment process is also expanding market growth.
As per scope of the report, sports medicine acts as a bridge between science, exercise, and health. Moreover, it catalyzes scientific assessment, study, and understanding of sports performance. It involves combined efforts of athletic trainers, physicians, physical therapists, and sports scientists to collaborate and provide the best possible medical care for athletic injuries and illnesses.
|Bandages and Tapes|
|Ankle and Foot Injuries|
|Back and Spine Injuries|
|Elbow and Wrist Injuries|
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Braces play an important role in recovery from a fracture by allowing limited joint mobility, increased muscle activity, and needed continuous support to regain full range of motion. Knee braces are designed to provide re-alignment to the knee joint by lessening pressure on the affected area and also reduce pain by preventing further wear and tear of the joint.
According to a research study by Yasuharu Nagano et al., published in Plos One Journal 2019, as per a longitudinal survey was performed in 29 female college swimmers in Japan found that the prevalence of shoulder injuries was 16.0%, knee was 9.9%, and ankle 9.0%. Moreover, ankle injuries are a common occurrence among athletes in the Asia-Pacific region. Stumbling, an incorrect push-off or an over-rotation can often lead to ligament damage. In order to prevent an ankle injury, a brace can be extremely beneficial. Thus, owing to the above-mentioned factors it is expected to show significant growth over the forecast period.
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The Asia-Pacific Sports Medicine Market is moderately competitive. Some of the players in the market include Medtronic PLC., CONMED Corporation, Smith & Nephew PLC, Stryker Corporation, and Zimmer Biomet Holdings Inc. With the technological innovations in the implants and the growing price competition, some new companies are also penetrating the market.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Sports Injuries
4.2.2 Rising Demand for Minimally Invasive Surgeries
4.3 Market Restraints
4.3.1 High Cost of Implants and Devices
4.3.2 Dearth of Proper Sports Ecosystem
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.2 Arthroscopy Devices
5.1.6 Bandages and Tapes
5.1.7 Other Products
5.2 By Application
5.2.1 Knee Injuries
5.2.2 Shoulder Injuries
5.2.3 Ankle and Foot Injuries
5.2.4 Back and Spine Injuries
5.2.5 Elbow and Wrist Injuries
5.2.6 Other Applications
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Stryker Corporation
6.1.2 Zimmer Biomet Holdings Inc.
6.1.3 CONMED Corporation
6.1.4 Arthrex Inc.
6.1.5 Medtronic PLC
6.1.6 Johnson & Johnson
6.1.7 Wright Medical Group
6.1.8 Smith & Nephew
6.1.9 DJO Global Inc
6.1.10 3M company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments