Global Sports Medicine Market

Sports Medicine Market: Insights

The overall market for sports medicines will be driven by a high compound annual growth trend over the projected period from 2020 to 2026. Sports medicine is a healthcare division that deals with optimizing the physical ability of individuals. Among all the other healthcare sectors, sports medicine has seen tremendous development, as practitioners in this area have the potential to treat all sorts of patients and not just athletes. Increased incidence of sports-related injuries and increasing understanding of physical exercise among individuals are some of the key factors anticipated to spur growth in the sports medicine industry. Sport medicine products help patients heal and avoid potential complications from injuries. Moreover, the rapid increase in demand for minimally invasive surgery and the rising demand for 3D printed implants are both driving the growth of the industry. However, over the projected timeframe, the shortage of trained practitioners and high orthopedic implants and other equipment costs are likely to adversely impede market development.

Sports Medicine Market: By Product

In three product-based divisions, including body reconstruction products, accessories, and body support & recovery products, this market can be identified. The demand for body support & recovery products is projected to project the highest rate of growth to boost company growth. This is because one of the key reasons for the rise of the industry is the rising number of sports injuries. Pre and post-reconstruction treatments are required for assistance, braces, and physiotherapy equipment. The development of the segment would be encouraged by the growing number of restoration procedures.

Sports Medicine Market: By Application

This market can be supported by seven categories, according to the application report: knee injuries, shoulder injuries, foot and ankle injuries, back and spine injuries, hip and groin injuries, and elbow and wrist injuries, among others. The category of knee injuries is estimated to contribute more to global revenues in the field. Sports medicine is commonly used for the treatment of athletic injury, as well as for athletes' healing, recovery, and rehabilitation. This is attributed to the fact that a substantial number of knee injuries are documented annually in major league sports, accounting for more than 40% of all sports-related injuries. Moreover, consumer growth would be influenced by the growing acceptance of a balanced lifestyle, including engagement in sporting activities.

Sports Medicine Market: By End-User

According to the end-user survey, this market can be represented in three segments, namely: hospitals, outpatient surgery centers, physiotherapy centers, and clinics, among others. Revenue from the hospital end-use market is projected to rise steadily from 2020 to 2026. This is because demand from the food processing and pharmaceutical sectors is growing. Owing to the accessibility of specialized medical devices, trained healthcare practitioners, and the rising number of sporting accidents are factors that lead to the growth of the hospital sector.

Sports Medicine Market: By Region

The demand for sports medicines, depending on the geographical location, is divided into Europe, APAC, North America, CSA, and MEA. The North American area is expected to add to global revenues over the forecast timeframe. This is due to the growing awareness of sports injury prevention & recovery and significant investments in sports medicine are expected to stimulate the growth of demand in the North American region over the forecasted timeframe. Furthermore, the Asia-Pacific area is expected to see substantial growth in emerging regions at a quick CAGR. Also, in countries such as China, Japan, and South Korea, the growing rate of use of sports medicine is continually increasing.

Sports Medicine Market: Share & Competitor Analysis

The key players competing in this market are DJO Global, Arthrex, Inc., Performance Health International Limited, Depuy Synthes Companies (A Part Of Johnson & Johnson), Conmed Corporation, Bauerfeind Ag, Medtronic Plc, Berg, Inc., Karl Storz Gmbh & Co.Kg, Zimmer Biomet Holdings, Inc., Biotek AG, Össur, Stryker Corporation, Medshape, and Mueller Sports Medicine, Inc., among others.

Please note: This is not an exhaustive list of companies profiled in the report.

In June 2020, Smith & Nephew secured the clearance of the CE mark for the Regeneten Bioinductive Implant, enabling it to be marketed in main European markets.

Check the Press Release on Global Sports Medicine Market Report