The global sports medicine market is expected to continue to grow through 2024, according to a Grand View Research report.
Here's what you need to know:
1. The market, which was valued at $5.9 billion in 2015, is projected to grow at a compound annual growth rate of 7.8 percent through 2024.
2. This growth is driven by increasing prevalence of sports-related injuries, such as dislocations, hip fractures and tendon tears, along with growing interest in orthobiologics, minimally invasive surgeries and overall musculoskeletal care.
3. North America is expected to dominate the industry; however, the United States, Japan and Europe, together, are projected to represent about 80 percent of the revenue in the market.
4. Key market players include Stryker, Zimmer Biomet, Smith & Nephew, DePuy Synthes and Arthrex.