Favorable government initiatives, large scale collaborations for technical advancements and the changing lifestyle and the desire to remain healthy, healthcare awareness among individuals are key factors contributing to the high CAGR of Sports Medicine Market during the forecast period.
Market Size – USD 6.12 Billion in 2018, Market Growth – CAGR of 6.4%, Market Trends– Adoption of advanced technology
According to the current analysis of Reports and Data, the global Sports Medicine Market was valued at USD 6.12 billion in 2018 and is expected to reach USD 10.12 billion by 2026, at a CAGR of 6.4%. Sports medicine is generally taken to prevent injuries and also for the cure, recovery, and restoration of injuries in athletes during sports/games. Products are used for athletes to improve the condition during injuries and to prevent future progress of injuries. Rise in prevalence of sports injuries is major factor driving the market growth. The injuries include various kinds of strains and sprains. It also includes spondylolysis and spondylolisthesis, stingers, disc injury, and Scheuermann’s disease. As per the Stanford children’s health statistics (US), 30 million kids and teenagers had been a part of some form of sports in 2018, and 3.5 million injuries are recorded in US. Sports medicine has undergone satisfactory growth from among other healthcare fields, as these treatments can be provided for other individuals as well and not just for athletes. The extended rise in the demand for sports medicine is due to an increase in sports injuries. With an increase in awareness among individuals for physical fitness, the government is also actively taking initiatives for sports medicine to increase the participation of athletes around the globe.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Arthrex, Inc (US), Smith & Nephew plc (UK), Stryker Corporation (US), Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany), and Bauerfeind AG (US).
Market Segmentation by Types:
Products Outlook (Revenue in Million USD; 2016–2026)
- Body Reconstruction Products
- Fracture and Ligament Repair Products
- Arthroscopy Devices
- Prosthetic Devices
- Body Support and Recovery Products
- Braces and Supports
- Compression Clothing
- Physiotherapy Equipment
- Thermal Therapy
- Other Therapies
- Ultrasound Therapy
- Laser Therapy
Applications Outlook (Revenue in Million USD; 2016–2026)
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Elbow and Wrist Injuries
- Back and Spine Injuries
- Hip and Groin Injuries
- Other Injuries
Body Monitoring and Evaluation Devices Outlook (Revenue in Million USD; 2016–2026)
- Cardiac monitoring and evaluation devices
- Respiratory monitoring and evaluation devices
- Hemodynamic monitoring and evaluation devices
- Musculoskeletal monitoring and evaluation devices
End use outlook (Revenue in Million USD; 2016–2026)
- Physiotherapy clinics
- Rehab centers
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Sports Medicine market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Further key findings from the report suggest
- According to the EU IDB catalog, 4.5 million people are treated for sports-related injury, which includes age groups above 15-25 years old. Statistics also predicts that the incidences of injuries are expected to increase significantly in the forecast period. The rise in injury is likely to increase in the developing countries, as physical activities are attaining importance in these countries it is expected to fuel the sports medicine market worldwide.
- There is a new evolution for the development of bioresorbable implants. The use of arthroscopic procedures and absorbable implants are common for the treatment of injuries, for better graft fixation.
- Technology on the absorbable polymer, such as the development of calcium polymer composite materials has number of advantages than MRI imaging, metal contamination, and better healing. Meniscus tears are prevalent, where mostly total knee replacement is considered for the treatment.
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