What is the global market size of Sports Medicine Market?

Sports Medicine Market size was valued at USD 7.37 billion in 2021 and is poised to grow from USD 7.78 billion in 2022 to USD 12.04 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

Who are the key vendors in the Global Sports Medicine Market?

According to our research, the leading firms in the sports medicine market are focused on the development of new products and treatment techniques. To address the increasing demand for MI operations, they are investing heavily in developing and commercializing minimally invasive (MI) technologies for sports medicine and orthopaedics surgery procedures. Furthermore, prominent manufacturers are always improving their goods in order to attract new clients and increase their product range in order to enhance their market position in all key nations. Aside from that, rising public and private support for specialized research provides market participants with profitable options. Furthermore, the increasing number of product approvals, current implant developments, and technical improvements are some of the other aspects expected to contribute to a positive market outlook. 'Arthrex', 'Smith & Nephew', 'Stryker Corporation', 'Zimmer Biomet', 'DJO Global', 'Breg, Inc.', 'Mueller Sports Medicine, Inc.', 'Össur', 'DePuy Synthes Companies (a Johnson & Johnson company)', 'Cramer Products, Inc.', 'Medtronic', '3M Healthcare', 'Medline Industries, Inc.', 'Conmed Corporation', 'Wright Medical Group N.V.', 'Biotek Instruments, Inc.', 'RTI Surgical, Inc.', 'Integra LifeSciences Corporation', 'KARL STORZ', 'Bauerfeind AG', 'In March 2022, During the AAOS (American Academy of Orthopaedic Surgeons) 2022 Annual Meeting, Smith+Nephew announced the inclusion of Sports Medicine technology for joint repair and a linked arthroscopic tower.', 'In March 2021, AnkleSprain.com, the first patient-focused instructional website dedicated to ankle sprain therapy, was launched by Arthrex. This has aided the firm in raising public awareness of ankle sprains, which has benefited the company's customers.'.

What is the key driver of Global Sports Medicine Market?

Globally, the prevalence of sports injuries has grown in recent years, owing mostly to increasing engagement in sports and active participation in fitness activities. Sports participants are more likely to sustain ligament tears and fractures. Furthermore, the lower extremity accounts for a significant share of all sports injuries worldwide. With increased engagement in sports (among both children and adults) and an increase in the frequency of sports injuries, the need for injury treatment and rehabilitation is predicted to rise globally. This is regarded as a favourable sign of the sports medicine market's expansion.

What is the key market trend for Global Sports Medicine Market?

Emerging nations such as India and China have a large patient population and are likely to offer prospective development possibilities for companies in the sports medicine market, owing to rising disposable incomes (due to fast economic expansion) and increased engagement in sports and physical activities. Furthermore, governments in these nations are now pursuing projects to develop and upgrade their respective healthcare systems.

Which region accounted for the largest share in Global Sports Medicine Market?

In 2022, the North American sports medicine market had a revenue share of more than 35%. The presence of key market participants, favourable reimbursement situations, an increase in the number of medical centres, and increased investment in sports medicine development will result in rapid product acceptance throughout the area. Furthermore, enhanced healthcare infrastructure, as well as increased usage of technologically sophisticated equipment to treat sports injuries, are boosting the regional market size.

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.

Sports Medicine Market Report Snapshots

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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. '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)'

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.

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.

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.

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What is the global market size of Sports Medicine Market?

Who are the key vendors in the Sports Medicine Market?

What is the key driver of Sports Medicine Market?

What is the key market trend for Sports Medicine Market?

Which region accounted for the largest share in Sports Medicine Market?

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