The sports medicine market has been witnessing a steady growth in recent years owing to rise in the incidence of sports associated injuries, government initiatives pertaining to sports medicine, a surge in the demand for minimally invasive surgeries, an increase in awareness among people toward physical fitness. Allied Market Research states that the sports medicine market is likely to reach $11,172 million by 2023 from $6,615 million in 2016, growing at a CAGR of 7.7% during the forecast period, 2017 - 2023. There are also a few factors that impede the growth of the industry such as lack of skilled professionals in the field and inappropriate administration and guidelines regarding sports medicine.

Several companies are coming up with innovative solutions or involving in strategies such as mergers and acquisitions in order to expand their market share and grow in the space. For instance, the Orthopedic Institute at St. Elizabeth introduced a sports injury prevention program in order to keep student athletes healthy. Private equity company, Nordic Capital recently announced the acquisition of Orchid Orthopedic Solutions, a company that specializes in implants, instruments, and innovative technologies for markets such as sports medicine, dental, extremities, and more. MetroHealth Sports Medicine and Physical Therapy, a physiotherapist in Ohio, U.S., launched a new sports medicine and physical therapy office in Broadview Heights to provide care for patients with sports injuries and more conditions.

Orthopedic Institute Launches Program

The Orthopedic Institute at St. Elizabeth, a collaboration St. Elizabeth Healthcare, St. Elizabeth Physicians and OrthoCincy Orthopaedics & Sports Medicine, launched an injury prevention program in February 2019. Meant to prevent similar injuries in student athletes, the program involves compiling and analyzing data at 23 high schools. As injuries occur, the athletic trainers at the institute across Campbell, Kenton, Grant, and Boone counties input the data with a computer into an Epic-powered prevention program. The trainers then study the data to figure out trends and causes of injuries, thus telling the program that they prepare for coaches and other school athletic personnel to keep the same injuries from happening again. This helps in enhancing results and keep injuries from occurring again for student athletes. Dr. Adam V. Metzler, an orthopedic surgeon from OrthoCincy Orthopaedics & Sports Medicine said, “Our injury prevention program is an example of organizations partnering together to build a healthy community by providing the highest quality of care at the most personalized level for our student-athletes. Real, localized data is invaluable to creating programs that work – and that’s exactly what we have at our fingertips.”

Orchid Orthopedic to be Acquired by European Private Equity Firm

In January ’19, Nordic Capital announced its plans to acquire a majority stake in Orchid Orthopedic Solutions. Financial terms of the deal were not disclosed. The latter is a leading provider of span hip, knee, extremity and spinal implant products, instruments used in implant-associated surgical procedures, and more. With the acquisition, Nordic aims at supporting Orchid through its next phase of development by closely partnering with their management team. According to Jerry Jurkiewicz, CEO of Orchid, they are glad to have Nordic Capital as their new majority partner as they have transformed Orchid from a U.S. contract manufacturer to a leader in global orthopedic implants design and manufacturing.

MetroHealth Introduces New Sports Medicine Office

The sports medicine and physical therapy office launched by MetroHealth in January ’19 aims to offer care to patients with sports injuries, bone and joint issues, back and neck pain, and other orthopedic conditions. Forming a part of MetroHealth's Rehabilitation Institute, the new establishment offers inpatient and outpatient therapy for patients recovering from a stroke, orthopedic condition and more. According to Michael Stern, executive vice president and COO at MetroHealth, they aim to bring their services closer to patients.