Market Trends of Asia-Pacific Sports Medicine Industry
Implants Segment is Expected to Grow at a Faster Pace in Market During the Forecast Period
Implants play an essential role in recovery from a fracture by allowing limited joint mobility, increased muscle activity, and needed continuous support to regain full range of motion. Various types of synthetic implants are available for tendon repair, ligament reconstruction, meniscus repair, and cartilage injuries.
The implant segment is expected to attain a significant growth rate in the forecast period owing to the factors such as the rising incidence of various sports-related injuries and the increasing demand for effective sports implants. For instance, an article published in BSM Journal in August 2021 mentioned that in Japan, 9% of athletes occurred at least one injury, and 4% had at least one disease in 2021. The report also mentioned that the incidence of injury was highest in boxing (27%), BMX racing (27%), BMX freestyle (22%), skateboarding (21%), karate (19%), and handball (18%) in 2021. Moreover, as per the same source, ankle injuries such as stumbling are the most common injuries among athletes in the Asia-Pacific region.
Furthermore, the rising initiative by various sports-related organizations that offer sports-related implants is also expected to boost the market's growth over the forecast period. For instance, in March 2022, Healthium Medtech inaugurated "Sport of Life" initiatives with Abhinav Bindra Foundation Trust (ABFT) in India. ABFT aims to support injured players in need with the cost of medical treatment, doctors, surgeries, and rehabilitation facilities to recover from sports injuries and carry on with their careers. Healthium will provide its arthroscopy implants required for the surgeries free of cost. Thus, the rising incidence of various injuries linked to sports and the increasing activities of market players in the region is creating lucrative opportunities for the target segment growth throughout the forecast period.
Australia is Expected to Hold Significant Share in the Market Over the Forecast Period.
Australia is expected to hold a significant market share over the forecast period. Factors such as the rising prevalence of various sports-related injuries and the increasing presence of different market players are expected to contribute to the market growth in this country.
For instance, in the article published by the Australian Institute of Health and Welfare in October 2022, almost 60,000 people over 15 years are hospitalized yearly due to sports injuries. The same source also stated that more than half of the injuries were fractures, with fractured arms and shoulders being the most frequent injury in Australia every year. Likewise, another article published in NCBI in February 2022 mentioned that in Australian football, females had a higher proportion of hand/finger injuries (34.3%), neck injuries (6.6%), and patella dislocations (2.9%). Males had a higher proportion of shoulder injuries (11.5%), skin lacerations (8.0%), and thorax/abdominal/pelvic injuries (5.7%) in 2021. The same source also mentioned that a higher proportion of men injured in Australian football sports required admission to hospital (5%) and surgery. Thus, the rising incidence of various sports-related injuries in Australia is also expected to boost the demand for sports medicine, thereby increasing the market's growth over the forecast period.
