Top 6 Surprising Developments in the U.S. Sports Medicine Device Market

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U.S. sports medicine

Tactoset® Device, retrieved from: https://anika.com/medical/products/tactoset/

According to the latest research by iData Research, the U.S. sports medicine market is limited by the relatively stable incidence rate of tendon and ligament injuries, which tends to vary greatly among different anatomies and different population groups. In spite of this trend, the level of innovation has been increasing within the U.S. sports medicine market and multiple companies have made strategic product launches to improve their market positioning in 2022 and 2023.

U.S. SPORTS MEDICINE MARKET DEVELOPMENTS

1. In January 2021, Enovis acquired Trilliant Surgical, who was a provider of foot and ankle orthopedic implants. Additionally, Trilliant Surgical was the only provider of the novel Arsenal Foot Plating System™. This system was designed for greater flexibility and speed of implant placement to support ease of use, making it highly sought-after.

2. In April 2021, Enovis acquired MedShape, a company in which focuses on foot and ankle devices. MedShape was known for developing a super-elastic nickel-titanium shape memory alloy, as well as shape memory polymer technologies, all of which allowed Enovis to strength it’s foot and ankle portfolio. Alongside this, other technologies were included in the deal such as devices for fracture fixation, joint fusion and soft tissue injury repair that utilized biomaterial technologies to improve patient outcomes.

3. In June 2021, Paragon 28 announced its acquisition of Additive Orthopaedics, an orthopedic foot and ankle company. Additive Orthopaedics uses advanced 3D-printed technologies to design, manufacture, and market patient-specific and off-the-shelf orthopedic implants.

4. In July 2021, Active Implant’s device, the NUsurface® was launched as the first “artificial meniscus” to be marketed in Europe and is under review by the U.S. Food and Drug Administration (FDA). The NUsurface® is a meniscus replacement in patients with persistent knee pain following medial meniscus surgery. This device is exciting as meniscus replacement has the potential to fill the gap between minimally invasive meniscus repair and total knee replacement.

5. In August 2021, Bioventus Inc. acquired Misonix Inc. Misonix was a company that offered a variety of regenerative medicine, minimally invasive technologies, and tissue products. In terms of the overall portfolio that Misonix offered, it included orthopedic, neurosurgery, and plastic and maxilla-facial surgery products. All of which Bioventus now owns.

6. In September 2021, Stryker launched the Citrelock™ Tendon Fixation Device System. With a differentiated design due to a tendon thread featuring a resorbable technology, known as Citregen™, the product has unique chemical and mechanical properties for orthopedic surgical applications.

7. In September 2021, Anika Therapeutics announced that it received additional 510(k) clearance by the FDA for it’s Tactoset® Injectable Bone Substitute. Tactoset® is a calcium phosphate based, biocompatible, bone graft substitute that incorporates Anika’s core hyaluronic acid (HA) technology. With this clearance, the device will have expanded use and will include augmentation of hardware and the support of bone fragments during surgical procedures.

U.S. SPORTS MEDICINE MARKET ANALYSIS AND FORECAST

According to iData’s upcoming 2023 Sports Medicine Market Report, the U.S. market is expected to reach a valuation around $2.8 billion by 2029. The majority of musculoskeletal injuries occur due to recreational sports and activities. As a result, a few of the main drivers of this market include demographic factors, active lifestyles, and the professional sports industry.

Our upcoming report will include metrics such as unit sales, average selling prices (ASPs), market values, market trends, a complete competitive analysis and COVID-19 analysis, along with market drivers, market limiters, and more. The following markets will be included within the upcoming report: achilles’ tendon repair and reconstruction devices, rotator cuff repair and reconstruction devices, shoulder labrum repair devices, biceps tenodesis repair devices, anterior and posterior cruciate ligament (ACL/PCL) reconstruction products, meniscal repair devices, and hip arthroscopy devices.

If you want to request a pre-publication summary for the 2023 U.S. Sports Medicine Market, feel free to request below:

 

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Emma MatrickTop 6 Surprising Developments in the U.S. Sports Medicine Device Market