A new Transparency Market Research report anticipates growth in the sports medicine devices market.
Per the report, the market is estimated to expand at a 4.40% GAGR from 2013 to 2019, and grow from a value of $6.1 billion in 2012 to $8.2 billion by 2019.
Factors fueling this growth include a rise in the number of sports medicine associations, growing awareness regarding fitness among the aged, increasing activities for the disabled and physically challenged, and support of online marketing, according to a media release from Transparency Market Research.
Development of performance monitoring devices and innovations in prosthetics and implants are likely to boost this market in the future. However, lack of reimbursement policies for academic sports injuries and reduction in budget allocation for sports may limit market growth, per the release.
Other factors that may impact the market include the rise in technological advances and the growing importance of sports activities, the focus on developing cost-conscious treatment methods, and the rising demand for arthroscopic procedures, per the release.
For more information, visit Transparency Market Research.
[Source(s): Transparency Market Research, PR Newswire]