Sports Medicine Market size was USD 6.92 Billion in 2020 and is expected to register a revenue CAGR of 6.4% during the forecast period.
Sports Medicine Market size was USD 6.92 Billion in 2020 and is expected to register a revenue CAGR of 6.4% during the forecast period. Key factors driving global market revenue growth are rising prevalence of sports-related injuries, increasing number of sports events across the globe, rapid advancements in regenerative medicines, improving healthcare infrastructure, and increasing R&D investments.
Lifestyle changes, improvements in standards of living, and technological developments are leading to a paradigm shift to sustainable and healthy lifestyle among a large population. People are focusing on maintaining a healthy lifestyle due to rising prevalence of sedentary lifestyle-associated diseases such as diabetes, high blood pressure, cardiovascular diseases, and obesity, among others. There has been a steady increase in participation in various sports such as cricket, baseball, tennis, hockey, basketball, golf, and weightlifting, or in recreational activities like walking, running, bicycling, spot jumping, and swimming, among others at individual levels, as well in schools and other educational institutes.
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In recent years, there has been a steady increase in sports injuries as various schools & educational institutes are encouraging sports activities. Similarly, large population across the globe is adopting a healthy lifestyle and adopting daily exercise and sports routine. Sports injuries can be caused to professional athletes, as well as non-athletes due to factors such as practice of improper techniques, lack of conditioning, impact, or insufficient warm-up & training. Sports medicine is a branch of specialty medicine that deals with treatment and prevention for various sports & exercise-related injuries. Sprains, fractures, stingers, disc injuries, and dislocations are some of the most common sports injuries caused due to playing cricket, football, ice hockey, baseball, volleyball, bicycle riding, and swimming, among others. Rising budget for sports, increasing investments in research & development activities, availability of advanced equipment & devices for treating sports injuries, and high adoption of 3D printing for making orthopedic devices are boosting market revenue growth.
However, factors such as high cost of implants, lack of trained professionals, unavailability of latest equipment & devices in developing countries, and dominance of local companies offering materials & products at low costs are expected to hamper overall market growth in the near future.
The global pharma & healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research & development activities, and new drug pipelines are among the key factors that have driven the global pharma & healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Companies Profiled In The Global Sports Medicine Market:
Arthrex, Inc., Smith & Nephew plc, Stryker Corporation, DJO Global, Inc., Mueller Sports, Inc., Wright Medical Group N.V., Medtronic, RTI Surgical, Performance Health International Limited, KARL STORZ, Bauerfeind AG, Össur, MedShape, Inc., Cramer Products, Biotek, and RôG Sports Medicine.
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Some key highlights of the report:
- Among the application segment, knee injuries segment is expected to account for significantly larger revenue share over the forecast period. Increasing incidence of knee injuries due to sports & recreational activities, rapid growth in orthopedics sector, and availability of various advanced treatments & equipment for knee injuries are anticipated to boost growth of this segment.
- Based on end-use, physiotherapy centers & clinics segment is expected to register fastest revenue CAGR during the forecast period, owing to availability of cost-effective treatments, rising number of well-developed physiotherapy centers & clinics, and increasing cases of fractures & ligament tears.
- North America is expected to account for largest revenue share in the global sports medicine market between 2021 and 2028. High revenue growth is attributed to factors such as presence of well-established healthcare infrastructure, rising prevalence of sport-related activities, steady inclination towards a healthy lifestyle, and availability of latest treatment procedures.
- Asia Pacific is expected to register rapid revenue CAGR throughout the forecast period, owing to increasing occurrence of knee injuries & ligament tears, rising focus on surging sports participation in schools & colleges, and higher awareness about overall health & physical fitness. In addition, increasing investments to develop enhanced products & devices, improving healthcare infrastructure, rising disposable income, and surging healthcare spending are other factors supporting market growth in Asia Pacific.
- In January 2021, Stryker Corporation acquired OrthoSensor, Inc., a manufacturer of medical sensor products, implants, and monitoring services. This acquisition is expected to help Stryker Corporation to introduce innovative smart sensor technologies, smart implants, and devices. It would also enhance the company’s product base.
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For the purpose of this report, Reports and Data has segmented the global sports medicine market based on product, application, end use, and region:
Product Outlook (Revenue, USD Billion, 2018-2028)
- Body Reconstruction Products
- Fracture and Ligament Repair Products
- Arthroscopy Devices
- Implants
- Prosthetic Devices
- Orthobiologics
- Body Support & Recovery Products
- Braces and Supports
- Compression Clothing
- Physiotherapy Equipment
- Thermal Therapy
- Electrostimulation
- Other Therapies
- Ultrasound Therapy
- Laser Therapy
- Body Monitoring & Evaluation
- Cardiac Monitoring
- Respiratory Monitoring
- Hemodynamic Monitoring
- Musculoskeletal Monitoring
- Others
- Accessories
Application Outlook (Revenue, USD Billion, 2018-2028)
- Knee Injuries
- Shoulder Injuries
- Foot & Ankle Injuries
- Elbow & Wrist Injuries
- Back & Spine Injuries
- Hip & Groin Injuries
- Other Injuries
End Use Outlook (Revenue, USD Billion, 2018-2028)
- Hospitals
- Ambulatory Surgery Centers
- Physiotherapy Centers & Clinics
Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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