Sports Medicine Market: Current Analysis and Forecast (2021-2027)

Sports Medicine Market: Current Analysis and Forecast (2021-2027)

Global Sports Medicine Market was valued at US$ XX million in 2020 and is anticipated to reach US$ XX million by 2027 displaying an elevated CAGR of XX% over the forecast period (2021-2027). Sports medicine is a branch of healthcare that deals with enhancing people’s athletic performance. Sports medicines are given by sports medicine doctors for treating any injury occurred during any sports participation, exercise, or any type of physical activity. Sports medicine specialists are trained to restore function to the injured patients so that they recover soon from injury. These specialists work with professional athletes and provide their treatment facilities to the children and teens that are involved in sports activities. Various injuries such as ankle sprains, fractures, knee and shoulder injuries, tendonitis and many more are treated by sports medicine specialists. The sports medicine market is growing due to increasing demands of sports players and athletes concerns of quick recovery injury treatment solutions.

The growth of this market is driven owing to increasing incidences of sports injuries, continuous influx of new products & treatment modalities, developments in the field of regenerative medicine, rising demand for minimally invasive surgeries. For instance, according to the article published by Sarah Megginson in February 2020, 89% of Australian adults participate in sports every year, with 62% participating at least three times a week. According to the American Public Health Association in October 2016, a new smart phone application has been invented in order to specialize in sports injury detection, which captures 99% more physical and mental health symptoms for college athletes than traditional sports medicine surveillance which are some novel technologies expected to gain momentum during the forecast period.

According to the United Nations article, in May 2020, the Olympics and Paralympics were postponed to 2021 due to the spread of COVID-19 across the world. However, with activities are resuming now, including sports, the risk of sports-related injuries increases.

As per the data provided by the Nations Safety Council, about 122.7 per 100,000 people got injured in basketball games. This number is expected to decrease as most of the sports activities got postponed in 2020.

Growing activity in sports and athletic activity among young population is the major factor driving growth of the global sports medicine market. For instance, according to FIFA’s Professional Football Report 2019, there are at least 128,983 professional football players around the world.

Arthrex Inc., CONMED Corporation, Johnson & Johnson, Medtronic PLC, Smith & Nephew, Stryker Corporation, Breg Inc., Wright Medical Group, Performance Health International Limited, Mueller Sports Medicine Inc. are some of the prominent players operating in the global sports medicine market. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced products.

Insights Presented in the Report

“Amongst product, body reconstruction products segment holds the major share”

Based on product, the sports medicine market is segmented into body reconstruction products, body support and recovery products and accessories. The body reconstruction products segment is expected to dominate the sports medicine market in near future due to increasing cases of sports injuries as sports athletes need to take care of their body parts during sport activities and maintains it for long run.

“Amongst application, the knee injuries segment holds the major share”

Based on application, the sports medicine market is segmented into knee injuries, shoulder injuries, foot & ankle, elbow & wrist, hip & groin, and other injuries. In 2020, knee segment dominated the sports medicine market due to increasing knee fractures and ligament tears leading to growing knee applications in global sports medicine market worldwide.

“Amongst end-user, the hospitals segment holds the major share”

In terms of end user, the global sports medicine market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers, and others. Among these, hospitals segment held the largest market share in 2020 and is further predicted to maintain its leading position in the market over the coming years as well due to increasing usage of sports medicine in surgical implants such as knee, shoulder, wrist, and elbow to treat any kind of sports injury.

“North America signifies one of the largest markets of Sports Medicine market”

For a better understanding of the market dynamics of the Sports Medicine market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America is expected to dominate the sports medicine market due to increasing government initiative to encourage the athletes for playing any of the sport. Along with this, many of the manufacturers are launching new and advanced technology-based sports medicine in the region. The U.S. is expected to dominate and lead the growth of the North American market, which is expected to increase due to increases cases of sport injuries among the athletes, along with this huge R&D procedure is perform in the U.S. for introduce advance technology-based sport medicines to provide better treatment and fast recover of the athletes, which help them to return their field as soon as possible.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry