Market Overview:
Considering the rapid expansions the market is perceiving currently and the potential this market holds to grow further, Market Research Future (MRFR) recently published a study report, giving out a complete market insight for the period 2022 – 2030. In its analysis, MRFR asserts that the global Sports Medicine market size will reach up to 7.65 % CAGR during the review period (2022 – 2030).
The Sports Medicine Market is a dynamic sector focused on preventing, diagnosing, and treating injuries related to sports and physical activities. It encompasses a wide range of products and services, including orthopedic implants, braces, rehabilitation equipment, and surgical devices. The market is driven by factors such as the growing number of sports injuries, increasing participation in sports and fitness activities, advancements in technology, and rising healthcare expenditure. Key players in the market are continually innovating to develop more effective treatments and products, catering to the needs of athletes and individuals seeking active lifestyles. Overall, the Sports Medicine Market continues to expand globally, fueled by both demand and innovation.
The Orthopedic Sports Medicine market is witnessing significant growth driven by an increasing emphasis on sports-related injuries and the growing participation in sports and physical activities worldwide. As more individuals engage in athletic pursuits, the demand for advanced orthopedic sports medicine solutions rises. This market encompasses a wide range of products and services aimed at treating and preventing sports injuries, including orthobiologics, arthroscopic devices, and surgical implants. Additionally, non-invasive treatments such as physical therapy and regenerative medicine techniques are gaining traction. Orthopedic Sports Medicine is a critical component of the broader sports medicine industry, catering to the specific needs of athletes and active individuals.
Global Sports Medicine Market –Segmentations
MRFR has segmented the Sports Medicine Market into Five key dynamics
By Products : Comprising Flavors Support & Recovery Products, Joint Reconstructive & Repair Products, and Accessories & Consumables, among others.
By Applications : Knee Treatment, Shoulder Treatment, Hip Treatment, and Spine Treatment, among others.
By Procedures : Tendon to Bone, Tendinosis, and Cartilage Repair, among others.
By End-Users : Trauma Centers, Hospitals & Emergency Care, and Ambulatory Care, among others.
By Regions : North America, Europe, APAC and Rest of the World.
Segment Tendinosis by procedures commands the largest share market of 54% in global sports medicine market.
Global Sports Medicine Market –Competitive Analysis
The global Sports Medicine market appears to be fiercely competitive and fragmented with many well-established players having the global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
Sports Medicine Companies are including.
- Medtronics
- Stryker
- Zimmer Biomet
- CONMED Corporation
- DePuy Synthes
- GE Healthcare
- Smith & Nephew plc
- Arthrex, Inc.
Global Sports Medicine Market -Geographical Analysis
Geographically, North America accounted for the leading market for Sports Medicine, capturing 39 % of market share, valuing USD 1,883.6 Million in 2016, followed by the markets of Europe & Asia Pacific, respectively. The market is growing due to the significant contributions from the burgeoning market of the US backed by the high expenditure on healthcare coupled with the increasing prevalence of sports injuries and increasing number of sports medical centers. Moreover, growing demand for the Sports Medicine provides impetus to the market growth. Continuing with the same trends, the North America market is expected to create a larger revenue pocket in the global market by 2023.
On the other hand, Europe, the world’s second-largest market for Sports Medicine is driven by the high per capita income and well-established healthcare penetration in the region. The strong market growth in the countries like Germany & France drives the regional market growth large scale. With the increasing investment in healthcare and rising number of sports injuries, the market is projected to register a phenomenal CAGR.
Asia Pacific market for the Sports Medicine is expected to perceive an exponential growth owing to the growing markets of India & China backed by the vast population and the increasing number of sports medical centers in the region. Vietnam, Thailand, and Malaysia among the other South East Asian countries are projected to contribute significantly to the regional market growth. With the growing Medical Tourism markets in India & Malaysia, the APAC region will register a CAGR during the review period.
