If the publication Official Wire, of London, England, is correct in its estimates, the global sports medicine implant market, valued at $1 billion in 2011, will grow to $1.6 billion by 2018. That is a compound annual growth rate (CAGR) of 6.7%.
The growth in the market is being predominantly driven by an increase in injury rates experienced by an aging population along with the more technologically advanced implant options.
The U.S. has the largest share of the sports medicine implants market, accounting for 49% of the global market last year. In 2011 the U.S. market value reached $517.8 million. By 2018 this value is forecast to reach $820 million, growing at a CAGR of 6.8%.
Among the advances in implant technology that are set to play a role in boosting the sports medicine implants market are the advantages of newer implants which enable easier post-operative imaging, revision surgery, and the enabling of bone formation within the screw.
Biodegradable implants are increasingly being used in the ï¬eld of operative sports medicine. The report notes that, today, surgeons have available to them a tremendous variety of implants and devices such as interference screws, staples, sutures, tacks, suture anchors, and devices for meniscus repair.
Analysts also note that there is a growing preference for implants constructed from biocomposite materials, due to their greater perceived efficacy and safety when compared to traditional metal varieties.
