USD 7.37 billion
Sports Medicine Market Size, Share, Growth Analysis, By Product(Implants, Fracture, ligament repair products, Arthroscopy devices), By Injury Type(Knee injuries, Shoulder injuries, Foot, ankle injuries), By End-use(Hospitals, Ambulatory Surgery Centres, Physiotherapy Centres, Clinics), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35A2059 |
Region:
Global |
Published Date: August, 2024
Pages:
165
|Tables:
100
|Figures:
78
Sports Medicine Market Insights
Global Sports Medicine Market size was valued at USD 7.37 Billion in 2022 and is poised to grow from USD 7.78 Billion in 2023 to USD 12.04 Billion by 2031, at a CAGR of 5.6% over the forecast period (2024–2031).
The sports medicine market is witnessing remarkable growth owing to increasing participation in amateur and professional sports, resulting in higher cases of sports-associated injuries. Moreover, mounting emphasis on enhancing fitness levels and maintaining an active lifestyle is changing consumer preference towards therapeutic and preventive solutions in sports medicine. These factors are notably impacting the growth of the sports medicine market. However, the market is restrained by the high cost of advanced sports treatments and medicines. This comprises specialized equipment, costly surgeries, and high-end diagnostics. This might restrict access for some healthcare systems and patients. Nevertheless, leveraging improvements in technology like telemedicine, wearable devices, and regenerative medicine, such as stem cell therapy is offering opportunities for enhanced patient outcomes and modernizations.
US Sports Medicine Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
5.6% CAGR
Global Sports Medicine Market 2024-2031 ($ Bn)
Country Share for North America Region- 2023 (%)
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Sports Medicine Market Segmental Analysis
The Global Sports Medicine Market is segmented by Product, Injury Type, End Use, and Region. Based on Product, the market is segmented into Implants, Fracture, Ligament Repair Products, Arthroscopy Devices, Prosthetics, Others. Based on Injury Type, the market is segmented into Knee Injuries, Shoulder Injuries, Foot, Ankle Injuries, Back, Spine Injuries, Hip, Groin Injuries, Others. Based on End-Use, the market is segmented into Hospitals, Ambulatory Surgery Centres, Physiotherapy Centres, Clinics. By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Product
Based on product, the ligament repair products segment is projected to lead the sports medicine market owing to the increasing cases of ligament injuries. Injuries like medial collateral ligament and anterior cruciate ligament are highly common in amateur and professional sports. These injuries mostly need rehabilitation and surgical intervention. Moreover, advances in surgical techniques are propelling the demand for these products, thus the segment growth.
On the other hand, the arthroscopy devices segment is projected to witness considerable growth in the coming years owing to high cases of joint injuries. Arthroscopy is broadly used to cure multiple joint conditions like ligament injuries, meniscal tears, and cartilage damage common in general and sports population. Also, the less invasive nature of arthroscopy surgery is fueling its use and demand as compared to the traditional surgeries.
Analysis by End-Use
Based on end-use, the hospitals segment is dominating the market owing to exhaustive care facilities. Hospitals comprise advanced equipment as well as specialized departments. They are equipped with advanced medical machines and the latest technology for treating and diagnosing several sports-associated injuries. Moreover, specialized units for sports medicine that offer exhaustive care are propelling the segment’s growth.
Conversely, the physiotherapy centres segment is expected to grow considerably over the forecast period due to higher focus on recovery and rehabilitation. These centers hold expertise in recovery and rehabilitation from sports-related injuries offering patient-dedicated strength, restore function, and flexibility. This is important for active people and sports individuals who need to get back in form soon. This is notably propelling the segment growth, thus driving the sports medicine market.
Global Sports Medicine Market by End-use, 2023 (%)
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Sports Medicine Market Regional Insights
Region-wise, North America is holding a dominant share of the market owing to increasing participation in sports. The region holds a strong culture of recreational and competitive sports with broader participation in different age groups. This sports engagement is leading to an increasing number of sports injuries and simultaneously the demand for better solutions for sports medicine. In addition, advanced healthcare infrastructure is driving the growth of the region's market. The leading players operating in North America include ConMed Corporation, Stryker Corporation, Smith & Nephew, Johnson & Johnson, and more.
Asia-Pacific is expected to be the fastest growing region owing to the increasing number of developing economies and the increasing disposable income of consumers. Nations like China, Southeast Asia countries, and India are developing speedily, allowing people to spend in sports medicine and several healthcare services. Moreover, increased investment in infrastructure of healthcare is enhancing access to advanced technologies and treatments, impacting regional growth.
Global Sports Medicine Market By Geography, 2024 - 2031
- Largest
- Fastest
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Sports Medicine Market Dynamics
Drivers
Improvements in Healthcare Technology and Growing Number of Sports Injuries
- Modernizations in healthcare technology comprising advanced treatment methods and diagnostic tools are improving efficiency of sports medicine, helping it gain traction and making it more accessible. Moreover, the rising cases of sports injuries, mainly in the high-intensity sports, is propelling the demand for rehabilitation solutions and effective treatment. These factors are fueling the growth of the sports medicine market.
Growth of Fitness Facilities and Sports Complexes
- Increasing proliferation of fitness centers, gyms, and sports complexes on the global scale is significantly driving the demand for advanced medicine services and products. Moreover, increasing focus on preventive measures that fuel the need for modernized products like preventive rehabilitation and protective gear is aiding the growth of the market.
Restraints
Strong Competition from Substitute Therapies
- The popularity and growing availability of complementary and substitute therapies like chiropractic care and acupuncture might impact the demand for sports medicine treatments. Moreover, doubt over inefficiency and safety of some sports medicine treatments or products may impact trust of consumers and ultimately market growth.
Regulatory Issues and Lack of Skilled Experts
- Navigating complicated regulatory needs for certification and approval of different sports medicine treatments and products could consume a lot of time, potentially deferring market entry of new players and hindering modernizations. Furthermore, less number of skilled professionals of sports medicine is another factor affecting the market growth.
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Sports Medicine Market Competitive Landscape
Sports Medicine providers need to focus on maximizing their business scope by reaching into new markets and developing sports medicine for different industrial and personal uses. Raising new capital to fund their R&D and business expansion efforts will be essential for new sports medicine companies going forward. The development of custom robots for specific applications across different industry verticals will also help companies expand their sales potential in the future.
Top Players in the Sports Medicine Industry
- Arthrex (US)
- Smith & Nephew (UK)
- Stryker Corporation (US)
- Zimmer Biomet (US)
- Breg, Inc. (US)
- Mueller Sports Medicine, Inc. (US)
- Ossur (Iceland)
- DePuy Synthes Companies (a Johnson & Johnson company) ()
- Performance Health International Limited (US)
- Medtronic (US)
- 3M Healthcare (UK)
- Medline Industries, Inc. (US)
- Conmed Corporation (US)
- Biotek Instruments, Inc. (US)
- RTI Surgical, Inc. (US)
- KARL STORZ (Germany)
- Bauerfeind AG (Georgia)
- Medshape (US)
- Cramer Products (US)
- Bauerfeind AG (Germany)
Recent Developments in Sports Medicine Industry
- In May 2023, Arthrex introduced a novel website for patients, named ACLTear.com. The website demonstrates science of ACL (anterior cruciate ligament) injuries, focusing on the advantages of knee preservation technology and offers technology to patients to contact surgery operators performing less invasive and advanced ACL procedures.
- In February 2024, Smith & Nephew announced the opening of its lately acquired CARTIHEAL AGILI-C Cartilage Repair Implant together with Bioinductive Implant, presenting its leadership with tools that allow biological soothing for sports medicine.
- In June 2024, Stryker Corporation announced a contract to acquire Artelon, a leading expert of soft tissue fixation tools. The aim behind this contract is to improve Stryker’s product offerings in sports medicine and foot ankle domains.
Sports Medicine Key Market Trends
Advancements in Regenerative Medicine:
- Regenerative medicine holds abundant potential in sports medicine domain, offering fresh opportunities for curing injuries and speeding recoveries. Techniques, such as stem cell injections, PRP (plasma-rich-platelet) therapy, and tissue engineering are actively adopted to enhance tissue regeneration and repair, enabling sports players to play stronger and faster.
Sports Medicine Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growing prevalence of sports injuries and growing investment and funding are majorly driving the market growth. Nonetheless, regulatory challenges and high costs of advanced treatments are a few limitations to the market growth. North America is anticipated to lead the sports medicine market owing to supportive reimbursement policies, a growing number of treatment clinics, and heavy investments in the development of sports medicines. In addition, growing technological improvements and the rising number of youth sports programs are some opportunities for market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.37 Billion |
| Market size value in 2031 | USD 12.04 Billion |
| Growth Rate | 5.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sports Medicine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sports Medicine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sports Medicine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sports Medicine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sports Medicine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sports Medicine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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