(PharmaNewsWire.Com, September 04, 2020 ) 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).
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:
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.
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