Sports Medicine Market: Growth in 3D printed implants and High cost of Orthopedic Implants

Sports Medicine Market

Globally, the incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities (as a result of the increasing focus on leading healthy lifestyles).

Some of the major sports injuries have been listed below:

  • Knee Injuries: Knee pain, ACL tear, quadriceps tendon inflammation, PCL (posterior cruciate ligament) injuries, menisci injuries, articular cartilage injuries, ligament injuries, patellar pain, and repeated dislocations
  • Foot and Ankle Injuries: Plantar fasciitis, heel pain, metatarsal fractures, Achilles pain, broken ankle, and sprained ankle
  • Calf and Shin Injuries: Calf pain and muscular cramps
  • Shoulder Injuries: Rotator cuff injuries, dislocations, inflammation of the biceps, shoulder pain, and clavicle fracture
  • Arm & Elbow Injuries: Tennis elbow and golfer’s elbow
  • Thumb & Wrist Injuries: Carpel tunnel syndrome, wrist bursitis, and metacarpal fractures

The incidence of ligament tears and fractures is high among people participating in sports. Also, the lower extremity constitutes a major portion of sports injuries, globally. With the increasing participation in sports (among children as well as adults) and subsequent growth in the incidence of sports injuries, the demand for injury management and rehabilitation is expected to increase across the globe. This is considered a positive indicator of the growth of the sports medicine market.

Global Sports Medicine Market is expected to grow at a CAGR of 6.5%. Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=751

High cost of orthopedic implants and other devices

Implants are medical devices that are surgically placed in the body to restore function by replacing or reinforcing a damaged structure. Orthopedic implants are used in various surgeries, such as knee and hip replacement surgeries and shoulder surgeries. However, the cost of these implants is a major concern for market growth in developing countries, where only a small section of the population is under insurance coverage—with an overall average cost of more than USD 12,000 in other developing countries, affording such a costly treatment is still a big challenge for the majority of the population.

The cost of prosthetics is generally high, as they cannot be mass-produced. For instance, limb prosthetics are produced in relatively small numbers and made of custom materials, with a variety of componentry. Similar to implants and prosthetics, regenerative medicine procedures are also expensive. Such therapeutic procedures often require more than one treatment, thus raising their overall cost.

Opportunity: 3-D printed implants

3D printing has emerged as a major technology in recent years, and the 3D printing of implants is expected to have a significant impact in the orthopedics field. This is because 3D-printed implants have various advantages, such as customizations as per patient requirements, lower cost (as compared to commercially available implants), lower level of toxicity, and a higher level of acceptance in patients, and efficient and quick production.

Few of the recent developments in the 3D printing of implants have been mentioned below:

  • In May 2019, Kwambio (a Ukraine-based ceramic 3D printing service provider), in collaboration with WeFund Ventures (a European investment firm), launched a 3D bioprinting project called ADAM. This joint initiative aims at developing an end-to-end 3D scanning and 3D printing process for the production of artificial bones.
  • In February 2019, Tangible Solutions, a US-based contract 3D-printed implant manufacturer, expanded its facility in Fairborn, Ohio, to a fully functional 25,000 sq. ft. 3D printing facility. The company specializes in the production of 3D printed spinal implants and the design and manufacture of orthopedic devices.
  • In April 2017, Duke University (US) developed cartilage from 3D-printed hydrogel, which can be used in humans for knee implants.
  • In May 2016, Johnson & Johnson and Hewlett-Packard Company (US) announced a collaboration to manufacture personalized and customized 3D-printed products. The 3D-printed products business will include sports equipment as they can be customized according to the user’s body.

Request for Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=751

Sports Medicine Market and Top Companies

Key market players profiled in the Sports Medicine market report includes:

  • Arthrex (US)
  • Smith & Nephew (UK)
  • Stryker Corporation (US)
  • Breg Inc. (US)
  • DJO Global, Inc. (US)
  • Arthrex (US) – Founded in 1984 and headquartered in Florida, US, Arthrex specializes in arthroscopy & sports medicine. The company is a pioneer in the field of arthroscopy and has developed more than 11,000 innovative products and surgical procedures to advance minimally invasive orthopedics. The firm offers products in the areas of shoulder, knee, elbow, hand and wrist, foot and ankle, hip, and orthobiologics.
  • Smith & Nephew (UK) – Smith & Nephew’s Sports Medicine and ENT division include subsegments like Sports Medicine Joint Repair and Arthroscopic Enabling Technologies (AET). The Sports Medicine Joint Repair segment offers advanced technologies, instruments, and implants enabling surgeons to perform minimally invasive surgeries of the joints, including the repair of soft tissue injuries and degenerative conditions of the shoulder, knee, hip, and small joints.
  • Stryker (US) – Stryker specializes in reconstructive, medical & surgical, and neurotechnology & spine products. The company’s orthopedic segment focuses on surgical equipment, minimally invasive surgical solutions, sports medicine, and patient handling, and provides medical products for a variety of specialties. The company is present in the US (including Puerto Rico), Canada, Ireland, Europe (Germany, France, Switzerland, and the UK), Japan, and countries in the Pacific and Latin American regions.
  • Breg (US) – Founded in 1989 and headquartered in California, US, Breg is engaged in the designing, manufacturing, and distribution of sports medicine products and services. The company offers a range of knee braces, shoulder braces, wrist/elbow braces, spine braces, foot and ankle braces, canes, crutches, walkers, cold-therapy products, and orthopedic practice solutions.
  • DJO Global, Inc. (US) – DJO Global is a leading global provider of high-quality, orthopedic devices, with a broad range of products used for rehabilitation, pain management, and physical therapy. In 2019, DJO Global was acquired by Colfax Corporation (US), a leading diversified technology company for USD 3.15 billion. The company specializes in rehabilitation and regeneration products for the non-operative orthopedics and spine markets.

Inquiry about Sports Medicine Market Report:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=751

I consult businesses as a Corporate Communicator where I help companies about the growth of the healthcare market and solve their companies growth and research challenges through my creative marketing strategies. Reach out to me in case you have something I can help with.