Sports Medicine Market Size By Products (Implants, Fracture and Ligament Repair Products, Arthroscopy Devices, Prosthetics), By Injury Type (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Back and Spine Injuries, Hip and Groin Injuries), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027
The sports medicine market is expected to observe significant growth by 2027 primarily due to rising incidences of sports injuries across the globe. In addition, recent advancements in treatment methods and procedures are also estimated to fuel market demand through the forecast period.
Sports medicine aims to help people enhance their athletic performance, accelerate recovery from injuries, and prevent potential injuries. Healthcare providers who specialize in sports medicine take special training to help restore function in injured patients and enable them to get moving as soon as possible.
Notably, sports medicine is useful for professional athletes, children involved in sports, adults who exercise, and people with physically demanding occupations, such as construction workers. Thus, sports medicine healthcare providers focus on preventing illness and injuries in people with varied levels of activities, which is a key factor propelling market adoption across the globe.
Industry players have been expanding their product offerings in order to capitalize on emerging trends in the sector. As a result, the improving product scenario has positively impacted the industry outlook across key regions.
For instance, in April 2021, Smith & Nephew plc, a leading medical technology company based out of the UK, launched novel enabling technologies for its INTELLIO Connected Tower Solution. The medical equipment manufacturer expanded its sports medicine wireless arthroscopic tower with 4KO (Optimized) Laparoscopes and Arthroscopes, and the DOUBLEFLO Inflow/Outflow Pump.
The INTELLIO Connected Tower offers sports medicine surgeons a complete range of enabling technologies to improve operating room efficiency. Using a centralized app, it streamlines procedure support by wireless connecting and controlling multiple sports medicine systems remotely from outside the sterile field.
For extensive analysis, the sports medicine market has been categorized on the basis of product, injury type, and region. In terms of product, the market has further been segmented into implants, prosthetics, arthroscopy devices, fracture and ligament repair products, and others.
The prosthetics sub-segment holds a substantial share in the sports medicine market and is speculated to rise at a notable pace over 2021-2027. Emergence of novel technologies to offer 3D printed prosthetics and growing concerns related to bone injuries are projected to fuel segmental demand over the assessment timeframe.
By injury type, the sports medicine market has been divided into shoulder injuries, knee injuries, foot and ankle injuries, hip and groin injuries, back and spine injuries, and other injuries. The sports medicine market from the hip and groin injuries sub-segment is calculated to observe notable growth at a CAGR of around 10.5% over the projected timeline. Increasing incidences of hip injuries and expanding geriatric population are anticipated to boost segmental expansion through 2027.
In the regional landscape, the North America sports medicine market is estimated to witness sizable growth by 2027, registering a stable CAGR over the forecast timeline. Surging awareness regarding sports medicine treatment options and escalating adoption of advanced products in the region are expected to foster market outlook through the study timeframe.
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