Report: Hospitals Add $23.6 Billion to N.J. Economy, Plus 150,000 Jobs

PRINCETON, N.J.Jan. 3, 2019 /PRNewswire/ — New Jersey’s acute care hospitals deliver a $23.6 billion boost to the state economy, along with 150,000 jobs, according to the 2018 Economic Impact Report by the New Jersey Hospital Association.

“Healthcare is a critical part of New Jersey’s economic infrastructure,” said NJHA President and CEO Cathy Bennett. “The $23.6 billion that hospitals and health systems contribute to the state economy ripples throughout all communities via jobs, income taxes paid by employees and goods and services purchased from other businesses. And most importantly, our hospitals are open to their communities 24/7/365 to provide the care we need.”

Both the total economic impact of New Jersey hospitals and the number of jobs they provide continues to grow. In last year’s report, the total economic contributions reached $23.4 billion, and the number of jobs topped out at 144,000. In fact, healthcare is the only industry that has added jobs in the state every year from 1990 through 2017, according to data from the N.J. Department of Labor.

The report is based on information from 2017 cost reports from 71 acute care hospitals filed with the N.J. Department of Health, along with other publicly available data sources.

In other key findings, New Jersey hospitals deliver:

  • $3.5 billion in services purchased from other businesses
  • More than $9 billion in total employee salaries
  • More than $500 million in state income taxes paid by hospital employees
  • More than $565 million in charity care services to New Jersey’s working poor and other uninsured residents.

NJHA’s Economic Impact Report is available online at www.njha.com/economic-impact/2018/, where users can search for data by county and by individual hospital. In addition, totals are available by teaching hospital status and state and federal legislative districts.

SOURCE New Jersey Hospital Association (NJHA)

(PRNewsfoto/New Jersey Hospital Association)

Related Links

http://www.njha.com

Artificial Intelligence in Healthcare Spending to Hit $36B

By Jennifer Bresnick

 – The global market for artificial intelligence in healthcare is set for incredible growth over the next few years, according to new research from ReportLinker.

The AI in healthcare market is slated to expand from its current $2.1 billion to $36.1 billion in 2025, representing a staggering compound annual growth rate (CAGR) of 50.2 percent.

This rapid increase in value for a relatively new but highly impactful market will be driven largely by North American investment, with the United States at the forefront of innovation and spending.

Hospitals and physician providers will be the major investors in machine learning and artificial intelligence solutions and services, the report predicts.

“A few major factors responsible for the high share of the hospitals and providers segment include a large number of applications of AI solutions across provider settings; ability of AI systems to improve care delivery, patient experience, and bring down costs; and growing adoption of electronic health records by healthcare organizations,” said the report.

“Moreover, AI-based tools, such as voice recognition software and clinical decision support systems, help streamline workflow processes in hospitals, lower cost, improve care delivery, and enhance patient experience.”

Natural language processing (NLP) tools will play an important role in bringing these improvements to providers, continued the brief.

NLP can translate speech into text, extract concrete data elements from unstructured input, and power chatbots that offer customer service or even basic triage for low-level complaints.

These services will be valuable to consumers seeking more convenient, on-demand access to care as well as among providers looking to reduce their keyboard time and simplify interactions with their electronic health records (EHRs).

Using artificial intelligence to create more intuitive, user-friendly workflows is a top goal for EHR developers moving into 2019, especially as provider burnout continues to rise and dissatisfaction with existing products hits a fever pitch.

Traditionally consumer-focused companies, such as Google and Amazon, are also rising to the challenge of creating AI-driven tools that can leverage NLP to capture key medical interactions and improve home monitoring for individuals with chronic disease.

Combining machine learning with medical-grade or consumer-facing devices may exponentially increase the impact of both technologies, notes a separate report from Frost & Sullivan published in September of 2018.

Developing Internet of Medical Things (IoMT) strategies that match sophisticated sensors with AI-backed analytics will be key for developing the smart hospitals – and smart homes – of the future.

“Sensors, artificial intelligence, big data analytics, and blockchain are vital technologies for IoMT as they provide multiple benefits to patients and facilities alike,” said Varun Babu, Senior Research Analyst, TechVision.

“For instance, they help with the delivery of targeted and personalized medicine while simultaneously ensuring seamless communication and high productivity within smart hospitals.”

These strategies are likely to contribute significantly to the predicted growth of the general artificial intelligence market as devices become smaller, cheaper, and more accepted by consumers and providers alike.

 

READ THE REST HERE

 

DOJ recovered $2.5 billion in 2018 healthcare false claim cases

Dec 26, 2018 / By KEVIN TRUONG

As part of the federal government’s increasing focus on issues of healthcare fraud, particularly in the Medicare space, the U.S. Department of Justice recovered $2.5 billion in settlements and judgments from False Claims Act Cases over the past year.

According to the DOJ, this is the ninth consecutive year that the organizations’ civil health care fraud settlements and judgments have exceeded $2 billion.

While the $2.5 billion number represents federal losses, the DOJ also said it also helped recover significant funds for state Medicaid programs

“Every year, the submission of false claims to the government cheats the American taxpayer out of billions of dollars,” Principal Deputy Associate Attorney General Jesse Panuccio said in a statement.

“In some cases, unscrupulous actors undermine federal healthcare programs or circumvent safeguards meant to protect the public health … The nearly three billion dollars recovered by the Civil Division represents the Department’s continued commitment to fighting fraudsters and cheats on behalf of the American taxpayer.”

The False Claims Act has its roots in groups trying to defraud the military during and after the Civil War and was significantly strengthened since 1986 when Congress increased incentives for whistleblowers to file lawsuits alleging false claims.

In healthcare, organizations across the industry were hit with False Claims cases including drug companies, medical device manufacturers, payer organizations and healthcare providers.

 

READ THE REST HERE

 

The Hidden System That Explains How Your Doctor Makes Referrals

Dec. 27, 2018 / By Anna Wilde Mathews and Melanie Evans

Phoebe Putney Health System doesn’t want its doctors to send business to competitors. If they do, Phoebe makes sure their bosses know about it.

Doctors working for the Albany, Ga.-based hospital system’s affiliated physician group get regular reports breaking down their referrals to specialists or services. One viewed by The Wall Street Journal included cardiology, colonoscopies and speech therapy, along with the share of each referred to Phoebe health-care providers.

If the share of in-house business wasn’t viewed as adequate, administrators would press them to improve, doctors said.

“They would let you know it wasn’t high enough,” said Thomas Hilsman, a primary-care doctor recently retired from the Phoebe medical group. He said he felt referrals should be based on which health-care provider was best for patients. “They keep the Phoebe physicians busy, they see more patients, they make more money.”

Phoebe officials said they use referral policies to improve quality and reduce costs, and physicians weren’t punished for their decisions.

Patients are often in the dark about why their doctors referred them to a particular physician or facility. Increasingly, those calls are being driven by pressure to keep business within a hospital system, even if an outside referral might benefit the patient, according to documents and interviews with doctors, current and former hospital executives and lawyers.

Losing patients to competitors is known as “leakage.” Hospitals, in response, use an array of strategies to encourage “keepage” within their systems, which in recent years have expanded their array of services.

The efforts at “keepage” can mean higher costs for patients and the employers that insure them—health-care services are often more expensive when provided by a hospital. Such price pressure and lack of transparency are helping drive rising costs in the $3.5 trillion U.S. health-care industry, where per capita spending is higher than any other developed nation.

For hospital systems, doctors’ referrals are a vital source of revenue. A hospital earns an average of $1.8 million annually in revenue from an internal-medicine physician’s admissions, referrals for tests and other services, plus practice revenue for employed doctors, a 2016 survey by recruiter Merritt Hawkins, a unit of AMN Healthcare Services Inc., found. The survey didn’t include hospital revenue from referrals by internal-medicine doctors to specialists, such as orthopedic surgeons or cardiologists.

Hospitals have gained more power over doctors with a wave of acquisitions of practices and hirings in recent years, and hospitals are getting more aggressive in directing how physicians refer for things such as surgeries, specialty care and magnetic resonance imaging scans, or MRIs.

 

READ THE REST HERE

 

Year in review: The provider mergers that made headlines in 2018

by Paige Minemyer | 

Providers have yet to slake their thirst for mergers—with several big-ticket mega-deals dominating headlines in 2018—but experts warn that there’s unlikely to be an immediate pay off for patients.

And despite the fast pace of consolidation in healthcare, there are no signs of the merger trend slowing down going into 2019, especially as private equity investors have their focus squarely on the opportunities in the industry.

Some of the most notable deals of 2018 included the $28 billion merger between Catholic Health Initiatives and Dignity Health, forming one of the largest non-profit systems in the country, and the ongoing regulatory review of the deal between Lahey Health and Beth Israel Deaconess Medical Center, which seeks to create a system in Massachusetts to rival giant Partners HealthCare.

For both deals, the involved health systems touted the potential financial benefits for patients. Lahey and Beth Israel said that having a challenger to Partners will significantly bring down prices in the greater Boston area.

But Ben Isgur, leader of PricewaterhouseCoopers’ Health Research Institute, told FierceHealthcare that while the jury is still out on whether these deals will benefit for patients in the long-term, significant cost savings haven’t appeared in the short-term.

“Especially in the short-term, there’s not a lot of data out there that shows it will reduce costs,” Isgur said. “It’s a market play.”

Other experts have expressed the same concern, and in some cases, have warned that these deals could even lead to higher prices. In addition, a study released earlier this year suggests that the rapid pace of consolidation may pose a risk to patient safety.

Isgur said, though, that immediate benefits could play out in an improved patient experience and access to more convenient sites of care, such as urgent care centers or telemedicine from home.

Consolidation can also make it easier for providers to jump into the latest technologies, he said, by enhancing their workforce and bringing in additional money, which could pay off for patients more immediately, too.

READ THE REST HERE

Conformis readies $21m private placement

 BY 

ConforMIS (NSDQ:CFMS) said this week that it inked a deal with Lincoln Park Capital Fund to sell $21 million of shares of the company’s common stock over the course of a 36-month term.

According to the terms of the deal, ConforMIS also plans to issue an additional 354,430 shares of common stock to Lincoln Park as commitment shares.

In total, the company said it will sell no more than 12,651,640 shares of common stock to Lincoln Park unless it obtains stockholder approval to issue more.

Also this month, ConforMIS announced that it would lay off roughly 10% of its workforce.

 

READ THE REST HERE

 

Medtronic Completes Acquisition of Mazor Robotics

DUBLIN – December 19, 2018 – Medtronic plc (NYSE:MDT) today announced it has completed the acquisition of Israel-based Mazor Robotics (NASDAQ:MZOR, TASE:MZOR.TZ). Under the terms of the acquisition agreement announced on September 20, 2018, Mazor shareholders will receive $58.50 per American Depository Share, or $29.25 per ordinary share, in cash. The total value of the transaction is reported at $1.7 billion, or $1.3 billion net of Medtronic’s existing stake in Mazor and cash acquired. Medtronic’s acquisition of Mazor ranks among the largest orthopedic deals completed in 2018.

This acquisition strengthens Medtronic’s position as a global innovator in enabling technologies for spine surgery. By combining Medtronic’s market-leading spine implants, navigation, and 3D imaging technology with Mazor’s robotic-assisted surgery systems, Medtronic offers a fully-integrated procedural solution for surgical planning, workflow, execution and confirmation.

“With today’s announcement, in bringing the two companies together Medtronic aims to accelerate the advancement and adoption of robotic-assisted surgery in spine for the benefit of patients, providers, and the healthcare system more broadly,” said Geoff Martha, executive vice president and president of the Restorative Therapies Group at Medtronic. “This is the latest example of our Surgical Synergy strategy, which we believe will transform spine care through procedural solutions that integrate implants, biologics and enabling technologies like navigation, 3D imaging, robotics and powered surgical tools.”

Medtronic believes robotic-assisted surgery can play a transformative role in refining procedures, reducing variability and impacting procedural outcomes in spine surgery. The Mazor X(TM) Stealth Edition – a co-development effort between Mazor and Medtronic – was recently cleared by the FDA. This new system seamlessly incorporates StealthStation(TM) software into the Mazor(TM) X robotic-assisted surgery platform – leveraging the power of two industry-leading technologies to deliver procedural predictability and flexibility through real-time image guidance, visualization and navigation informed by interactive 3D planning and information systems.

“Everything that happens in the operating room depends on the trained medical professionals who are there, and that will never change. However, the Mazor X Stealth Edition gives us a very powerful tool to plan our desired surgical procedure and help make sure the surgery takes place exactly as planned with a high degree of accuracy,” commented Christopher R. Good, M.D. F.A.C.S., spine surgeon, director of Scoliosis & Spinal Deformity and president of Virginia Spine Institute. “Incorporating multiple modalities together, including computerized surgical planning, three-dimensional assessment of spinal anatomy, robotic guidance and live navigation feedback all in one platform leads to a synergy that makes my operating room much smarter.”

Mazor Robotics joins Medtronic’s Neurosurgery business, which is part of the Restorative Therapies Group’s Brain Therapies division.

Financial Highlights
The transaction is expected to be modestly dilutive to Medtronic’s fiscal 2019 adjusted earnings per share, but given the current strength of Medtronic’s business, the company expects to absorb the dilution. Consistent with its long-term financial objectives, Medtronic projects the acquisition to generate a double-digit return on invested capital (ROIC) by year four, with an increasing contribution thereafter.

Medtronic’s financial advisors for the transaction are Perella Weinberg Partners LP and Goldman Sachs & Co. LLC, with Meitar Liquornik Geva Leshem Tal and Ropes & Gray LLP acting as legal advisors. Mazor’s financial advisors are J.P. Morgan Securities LLC and Duff & Phelps LLC, with Kirkland & Ellis LLP and Luchtenstein Levy Wiseman Law office acting as legal advisors.

About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 86,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

Contacts:
Sara Thatcher
Public Relations
+1-901-399-2098

Ryan Weispfenning
Investor Relations
+1-763-505-4626

Johnson & Johnson Announces $5 Billion Share Repurchase Program

NEW BRUNSWICK, N.J.Dec. 17, 2018 /PRNewswire/ — Johnson & Johnson (NYSE: JNJ) today announced that the Board of Directors has authorized the repurchase of up to $5 billion of the company’s common stock.

“Based on our continued strong performance and, more importantly, the confidence we have in our business going forward, the Board of Directors and management team believe that the company’s shares are an attractive investment opportunity,” said Alex Gorsky, Chairman and Chief Executive Officer.  “Our strong cash flow enables us to simultaneously return value to shareholders through our regular quarterly dividend and share repurchases, while at the same time continuing to deploy capital that will further strengthen our robust enterprise pipeline and drive long-term growth.”

Repurchases may be made at management’s discretion from time to time on the open market or through privately negotiated transactions. The repurchase program has no time limit and may be suspended for periods or discontinued at any time.  Any shares acquired will be available for general corporate purposes. The company had approximately 2,683.2 million shares of common stock outstanding as of September 30, 2018.  The company does not expect to incur debt to fund the share repurchase program.

Johnson & Johnson reaffirms its full-year 2018 sales and adjusted earnings per share guidance of $81.0 to $81.4 billion and $8.13 to $8.18 per share, respectively.

About Johnson & Johnson

At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world’s largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

Cautions Concerning Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 related to the company’s plans with respect to share repurchases, involving, among other things, uncertainties inherent in business and financial planning. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to, market conditions; the possibility that the repurchase program may be suspended or discontinued; economic factors, such as interest rate and currency exchange rate fluctuations; uncertainty of commercial success for new and existing products; the ability of the company to successfully execute strategic plans; the impact of acquisitions and divestitures; significant adverse litigation or government action, including related to product liability claims; challenges and uncertainties inherent in new product development; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; changes to governmental laws and regulations and domestic and foreign health care reforms. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in the company’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.govwww.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

SOURCE Johnson & Johnson

Related Links

http://www.jnj.com

Conformis Announces Strategic Actions to Reach Profitability and Reduce Debt

BILLERICA, Mass., Dec. 13, 2018 (GLOBE NEWSWIRE) — Conformis, Inc. (NASDAQ:CFMS), a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants designed to fit each patient’s unique anatomy, today announced it is implementing steps to improve its overall business model, including the prioritization of certain product development opportunities, cost reduction initiatives with the optimization of sales, marketing and administrative expenses and a reduction of its workforce.  In connection with these cost-saving measures, Conformis also announced today the reduction of its debt facility from $30 million to $15 million.  Conformis is taking these strategic actions to strengthen its focus on specific areas of opportunity that it believes will enable it to achieve profitability in 2021.

“We are taking decisive actions to prioritize our highest-impact new product opportunities, our Conformis Hip System and our cementless Press Fit total knee, which we believe provide us an opportunity to build a stronger, more sustainable business. As a result of these actions, we believe we can achieve profitability in 2021,” said Mark Augusti, Chief Executive Officer, Conformis. “These actions included the difficult decision to part ways with many valued employees. On behalf of the entire Company, I thank these colleagues for their many contributions to the business.”

The immediate organization-wide actions include:

Expense Management

Conformis is now taking actions to leverage its improvements in gross margin, which began in the third quarter of 2017, by optimizing its overall operating expense structure. As a result, Conformis believes that the actions taken today will lead to a reduction in the use of cash by operating activities from approximately $10 million per quarter during 2018 to less than $4 million per quarter in 2019. These expense reductions are company-wide, impacting sales and marketing, research and development and general and administrative expenses.

New Product Development Opportunities

Conformis plans to continue to execute its new product development programs focusing on the Conformis Hip System, iTotal G3 and cementless Press Fit knee. In the second half of 2019, Conformis expects to achieve full commercial launch of its Conformis Hip System, as well as the limited commercial release of its iTotal G3 total knee. Conformis also remains on track to deliver the limited commercial release of its cementless knee offering in early 2020.

“We recently achieved our 100th total hip arthroplasty case at Conformis and remain very positive about the status and value proposition of our Conformis Hip System. One of our goals when identifying the cost reductions announced today was to insure that they do not affect our previously announced commitment and investment plans for full commercial launch of our Conformis Hip System in the second half of 2019,” said Mark Augusti. “Entering the $7 billion hip arthroplasty market remains a key growth opportunity and a priority for the Company.”

International Expansion

Recognizing demand for its custom orthopedic knee replacement implants outside the United States, Conformis has selectively identified opportunities to expand its distribution in certain international markets. The expansion into other international markets is intended to help offset the sales weakness the Company is experiencing in Germany.

Organizational Transformation

To create a more focused organization and better align internal resources with the Company’s strategic priorities, Conformis reduced its personnel base this week, resulting in a reduction of approximately 10% of its total workforce. As a result of this action, Conformis expects to incur employee severance charges and other exit costs of approximately $700,000 in the fourth quarter and generate annual personnel expense savings in excess of $4 million in 2019.

Debt Reduction and Restructuring

With the reduced need for capital and to create an improved capital structure, Conformis and Oxford Finance LLC have entered into an amendment to their current Loan and Security Agreement.  Under the amended agreement, the Company used cash on-hand to pay down $15 million of its $30 million debt facility, and thereby reduced the total debt outstanding to $15 million and the associated interest expense going forward. The amendment also adjusted certain financial covenants.

“We believe this new plan will help right-size the Company, significantly lowering our cash needs,” noted Paul Weiner, Chief Financial Officer. “When combined with the planned continuation of gross margin improvements, we believe we can achieve cash flow breakeven within the next three years.”

2019 Operating Expenses Commentary

The Company expects the following operating expenses for the full year 2019:

  • Sales and marketing expense of approximately $32 million. This represents a reduction of approximately $8 million over our estimated 2018 sales and marketing expense.
  • Research and development expense of approximately $16 million. This represents a reduction of approximately $1.5 million over our estimated 2018 research and development expense.
  • General and administrative expense of approximately $21 million. This represents a reduction of approximately $10 million over our estimated 2018 general and administrative expense.
  • Capital expenditure of approximately $3.5 million versus our estimated 2018 $4 million.
  • Cash used, excluding financing activities, of less than $16 million versus our estimated 2018 $38 million.

About Conformis, Inc.

Conformis is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants that are individually sized and shaped, or customized, to fit each patient’s unique anatomy. Conformis offers a broad line of customized knee and hip implants and customized pre-sterilized, single-use instruments delivered in a single package to the hospital. In clinical studies, Conformis iTotal CR knee replacement system demonstrated superior clinical outcomes, including better function and greater patient satisfaction, compared to traditional, off-the-shelf implants.  Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover customized implants and customized patient-specific instrumentation for all major joints.

For more information, visit www.conformis.com. To receive future releases in e-mail alerts, sign up at http://ir.conformis.com/.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this press release about our future expectations, plans and prospects, including statements about the anticipated timing of our product launches, and our financial position and results, ability to achieve profitability, total revenue, product revenue, gross margin, operations, operating expenses, and financing plans, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual financial results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including whether our cash resources will be sufficient to fund our continuing operations for the periods anticipated; risks related to our estimates and expectations regarding our revenue, gross margin, expenses, revenue growth and other results of operations; risks related to our impact of our reduction in force; risks associated with our ability or inability to satisfy loan covenants; and the other risks and uncertainties described in the “Risk Factors” sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.

CONTACT:
Investor Relations
ir@conformis.com
(781) 374-5598

Global $10.66 Bn Sports Medicine Devices Market Analysis and Forecasts 2017-2018 & 2025

Dublin, Dec. 13, 2018 (GLOBE NEWSWIRE) — The “Sports Medicine Devices Market to 2025 – Global Analysis and Forecasts By Product, Application, and Geography” report has been added to ResearchAndMarkets.com’s offering.

The global sports medicine devices market is expected to reach US$ 10,662.5 Mn in 2025 from US$ 5,822.6 Mn in 2017. The market is estimated to grow with a CAGR of 7.9% from 2018-2025.

The growth of the sports medicine devices market is primarily attributed to increasing incidence of sports injuries. Moreover, the presence of large number of sports medicine associations is expected to fuel the market growth. The introduction of advanced technology in the sports medicine market is expected to offer significant growth opportunity in the sports medicine devices market during the forecast period.

The innovations of the new technologies are expected to introduce new therapies and procedures that will help to reduce time and costs and provide optimized and personalized results to continue to shape the medical device industry. Also the intelligent orthopedics in combination with traditional techniques and high-end technology will enable to change the future of industry.

The associations for the sports medicine are increasing across the countries in the world. The associations are involved in spreading the awareness about the sport medicine which is helping sports players and athletes to recover from their injuries. Some of the global groups and associations for the sports medicine are International Council of Sports Science and Physical Education (ICSSPE), International Federation of Sports Medicine (FIMS) and World Federation of Athletic Training & Therapy (WFATT).

Global sports medicine devices market, based on product was segmented as, body reconstruction and repair, body support and accessories. In 2017, body reconstruction and repair segment held the largest share by the market, by product. This is mainly attributed to the benefits offered such as, reduction in pain and improved functioning. In addition, it also amplify the body’s natural healing abilities and enhances the growth of new cartilage, ligaments and tendons.

Global sports medicine devices market, based on application was segmented knee, shoulder, ankle/foot, elbow & wrist, and others. In 2017, knee segment held the largest share of market, by application. In addition, the segment is anticipated to witness a significant growth among other applications, during the forecast period.

Some of the major primary and secondary sources for sports medicine devices included in the report are World Health Organization (WHO), Organisation for Economic Co-operation (OECD), National Research Foundation (NRF), International Diabetes Federation (IDF), Canadian Institutes of Health Research (CIHR) and others.

Key Topics Covered:

1. Introduction 
1.1 Scope Of The Study
1.2 Research Report Guidance

2. Global Sports Medicine Devices Market – Key Takeaways 

3. Global Sports Medicine Devices- Market Landscape 
3.1 Overview
3.2 Market Segmentation
3.3 Pest Analysis

4. Global Sports Medicine Devices Market – Key Market Dynamics 
4.1 Key Market Drivers
4.1.1 Increase In The Number Of Sports Medicine Associations
4.1.2 Increasing Incidences Of Sports Injuries
4.1.3 Rising Demand For Minimally Invasive Methods
4.2 Key Market Opportunities
4.2.1 Penetration Into Emerging Economies
4.2.2 Introduction Of Advanced Technologies
4.3 Future Trends
4.3.1 Prevention Through Genomics
4.4 Impact Analysis

5. Sports Medicine Devices Market – Global Analysis 
5.1 Global Sports Medicine Devices Market Revenue Forecasts And Analysis
5.2 Global Sports Medicine Devices Market, By Geography – Forecasts And Analysis
5.3 Performance Of Key Players
5.3.1 Arthrex Inc.
5.3.2 Smith And Nephew
5.4 Expert Opinions

6. Global Sports Medicine Devices Market Analysis – By Product 
6.1 Overview
6.2 Global Sports Medicine Devices Market, By Product, 2017 & 2025 (%)
6.3 Body Reconstruction And Repair Market
6.3.1 Overview
6.3.2 Global Body Reconstruction And Repair Market Revenue And Forecasts To 2025 (US$ Mn)
6.3.3 Fracture And Ligament Repair Devices Market
6.3.4 Orthobiologics Market
6.3.5 Arthroscopy Devices Market
6.3.6 Prosthetic Market
6.4 Body Support Market
6.4.1 Overview
6.4.2 Global Body Support Market Revenue And Forecasts To 2025 (US$ Mn)
6.4.3 Braces Market
6.4.4 Topical Pain Relief Market
6.4.5 Compression Clothing Market
6.4.6 Thermal Therapy Devices Market
6.4.7 Others Market
6.5 Accessories Market

7. Global Sports Medicine Devices Market Analysis – By Application 
7.1 Overview
7.2 Global Sports Medicine Devices Market, By Application, 2017 & 2025 (%)
7.3 Elbow & Wrist Market
7.4 Shoulder Market
7.5 Knee Market
7.6 Ankle/Foot Market
7.7 Others Market

8. North America Sports Medicine Devices Market Revenue And Forecasts To 2025 

9. Europe Sports Medicine Devices Market Revenue And Forecasts To 2025 

10. Asia-Pacific Sports Medicine Devices Market Revenue And Forecasts To 2025 

11. Middle East & Africa Sports Medicine Devices Market Revenue And Forecasts To 2025

12. South And Central America Sports Medicine Devices Market Revenue And Forecasts To 2025 

13. Sports Medicine Devices Market – Industry Landscape 
13.1 Overview
13.2 Growth Strategies In The Sports Medicine Devices Market, 2015-2018
13.3 Organic Growth Strategies
13.3.1 Overview
13.3.2 Product Launches
13.3.3 Expansion
13.4 Inorganic Growth Strategies
13.4.1 Overview
13.4.2 Partnership
13.4.3 Acquisitions

14. Sports Medicine Devices Market, Key Company Profiles 

  • DJO Global
  • Zimmer Biomet
  • STRYKER
  • Smith & Nephew
  • DePuy Synthes
  • Wright Medical Group N.V.
  • Arthrex, Inc.
  • CONMED Corporation
  • Mueller Sports Medicine, Inc.
  • RTI Surgical, Inc.

For more information about this report visit https://www.researchandmarkets.com/research/7q4x59/global_10_66_bn?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
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