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Sports medicine implant market to grow at a CAGR of 6.7%
Companiesandmarkets.comJul 06, 2012 14:29 BST
In 2011 the global sports medicine implant market was valued at a figure of $1 billion, and by 2018 this has been predicted to hit $1.6 billion, growing at a compound annual growth rate (CAGR) of 6.7%.
Market growth is being predominantly driven by an increase in injury rates in combination with the aging population and more technologically advanced implant options.
The US has the largest share of the sports medicine implants market, accounting for 49% of the global market last year. In 2011 US market value reached $517.8 million, and by 2018 this value is forecast to reach $820 million, growing at a CAGR of 6.8%.
Advances in implant technology along with the advantages of newer implants which enable easier post-operative imaging, revision surgery, and the enabling of bone formation within the screw, are also set to play a role in boosting the sports medicine implants market.
Biodegradable implants are increasingly used in the ﬁeld of operative sports medicine. Today, a tremendous variety of implants such as interference screws, staples, sutures, tacks, suture anchors, and devices for meniscal repair are available.
There is a growing preference for implants constructed from biocomposite materials, due to their greater efficacy and safety when compared to traditional metal varieties.
For more information on the sports medicine implant market, see the latest research: Sports Medicine Implant Market Report
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