Sports Medicine Devices Market to Rise, Thanks to Increasing Awareness about Health Fitness in Baby Boomers

Sports medicine devices are utilized for the treatment and prevention of exercise- and sports-related injuries. Injuries caused owing to general exercise and sports include knee and ankle injuries, head injuries, strains and sprains, muscle cramps, and ligament ruptures. Sports medicine devices are either externally attached, utilized for minimally invasive procedures including arthroscopy, or surgically implanted. The global sports medicine devices market stood at US$6.1 bn in 2012 and is predicted to reach US$8.3 bn in 2019, expanding at a 4.40% CAGR between 2013 and 2019. 

Transparency Market Research (TMR), a market intelligence company, throws light on the major factors fuelling the growth of the market for sports medicine devices. TMR also highlights the ways these drivers are expected to further fuel the growth of the market in the coming years.

• Increasing Awareness about Health and Fitness in Baby Boomers: Apart from the youth demographic, baby boomers all around the world are highly motivated to stay healthy and have been taking the necessary steps to maintain a youthful appearance. The knowledge that exercise enhances health and reduces the risk of diseases has also encouraged baby boomers to stay active. They are inclined towards enjoying a high quality of life and thus are fuelling the sales of a number of fitness services and products. Baby boomers are at a high risk of injuries owing to weakening of their bones due to aging. Hence, the gigantic size of the baby boomers market globally leads to huge opportunities for the sports medicine devices market.

• Rising Online Marketing Propelling Development of Recovery and Support Products: The rise in online marketing is also a key factor augmenting the growth of the sports medicine devices market. Detailed product and pricing-related information can be gathered on recovery products and orthopedic products sold in the sports medicine devices market. In addition, consumers may easily access information on these products via social media platforms and web advertisements by healthcare companies and can choose the products suitable for their needs, thus augmenting the market’s growth.

• Product Miniaturization has Enabled Sports Activities for the Physically Challenged: The market for sports medicine devices has brought in easy portability, accessibility, and convenience, particularly for the physically challenged. Device miniaturization and technological advancements have enabled the physically challenged to take part in sports activities and lead a good quality of life. A number of vendors are manufacturing products keeping in mind the specific requirement of these customers. Furthermore, the introduction of wireless technology in portable healthcare equipment has raised the overall healthcare standards and has also raised the prospects for patient mobility at home and in hospitals. 

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Hence, owing to these prime factors, the sports medicine devices market is poised to grow by leaps and bounds in the coming years. However, the absence of reimbursement options for academic sports injuries and the reduced budget allocation given to sports globally are amongst the key factors that may inhibit the growth of the market in forthcoming years.