USD 6.13 billion
Report ID: SQSG35A2059 | Region: Global | Published Date: October, 2022 | Pages: 165 | Tables: 100 | Figures: 66
Global Sports Medicine Market was valued at USD 6.13 billion in 2021, and it is expected to reach a value of USD 8.50 billion by 2028, at a CAGR of 5.6% over the forecast period (2022 -2028).
The increasing occurrences of sports injuries, the continual intake of new products and treatment methods, breakthroughs in the field of regenerative medicine, and increased demand for less invasive operations are driving growth in the sports medicine market. Growing technical breakthroughs and several new product improvements in sports medicine will drive worldwide market expansion. Rising personal health awareness, along with a major rise in government intervention in promoting and supporting sporting activities, is predicted to drive worldwide market figures. A significant increase in sports activities may result in an increase in the frequency of sports injuries.
Sports medicine is a branch of medicine focused with the treatment of injuries caused by sporting activity. A sports medicine practitioner concentrates on sports-related medical treatments. This can involve things like training and injury prevention, as well as treatments like osteopathic manipulation, rehabilitation, or injections. Athletes experiencing back discomfort caused by strain and injury from activities such as bicycle, weightlifting, running, and golf are frequently treated by sports medicine experts. The domains of many sub-disciplines of sports medicine are used in the field of physical education and sports. It is impossible to bring a sportsperson's performance to the highest level without understanding of the extent of sports medicine.
Global Market Size
USD 6.13 billion
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The Global Sports Medicine Market is segmented on the basis of Product, Injury Type, End-use, and Region. Based on Product the market is segmented into Implants, Fracture and ligament repair products, Arthroscopy devices, Prosthetics, and Others. Based on injury type the market is divided into knee injuries, Shoulder injuries, Foot and ankle injuries, Back and spine injuries, Hip and groin injuries, and Others. Based on end-use the market is segmented into Hospitals, Ambulatory Surgery Centres, and Physiotherapy Centres and Clinics. Based on the region, the global Sports Medicine market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
The Fracture and ligament repair products segment is predicted to account for the greatest market share in the year 2022. During the predicted period, it is also expected to increase the quickest. The market's expansion may be linked to the fact that these goods are responsible for healing and restoring the functioning of wounded body components. Furthermore, a slew of revolutionary body reconstruction and repair solutions with extra advantages are propelling the sports medicine industry forward.
Analysis by Application
In terms of application, the knee injuries sector will have the largest share of the sports medicine market in 2022. It is also predicted to increase the quickest throughout the projection period. This is due to an increase in the occurrence of sports-related knee injuries. Running, football, basketball, lacrosse, and skiing all have an elevated risk of knee joint damage due to the hard movements involved. Knee discomfort or damage can result from abrupt pauses, twists, and turns, or pressure placed on the knee joint when jogging.
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In 2022, the North American sports medicine market had a revenue share of more than 35%. The presence of key market participants, favourable reimbursement situations, an increase in the number of medical centres, and increased investment in sports medicine development will result in rapid product acceptance throughout the area. Furthermore, enhanced healthcare infrastructure, as well as increased usage of technologically sophisticated equipment to treat sports injuries, are boosting the regional market size.
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Sports injuries are becoming more common, which will boost market expansion.
Orthopaedics implants and associated equipment are expensive.
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According to our research, the leading firms in the sports medicine market are focused on the development of new products and treatment techniques. To address the increasing demand for MI operations, they are investing heavily in developing and commercializing minimally invasive (MI) technologies for sports medicine and orthopaedics surgery procedures. Furthermore, prominent manufacturers are always improving their goods in order to attract new clients and increase their product range in order to enhance their market position in all key nations. Aside from that, rising public and private support for specialized research provides market participants with profitable options. Furthermore, the increasing number of product approvals, current implant developments, and technical improvements are some of the other aspects expected to contribute to a positive market outlook.
Top Players in Global Sports Medicine Market are
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According to our analysis, based on the Product segmental analysis, The accessories section is expected to expand the quickest throughout the projection period. Wraps, bandages, tapes, disinfectants, and other goods used to treat minor sports injuries are mostly included in this sector. Furthermore, Asia Pacific is expected to expand the quickest throughout the projection period, as the acceptance of sports medicine in countries such as China, Japan, and South Korea continues to rise. Furthermore, the regulatory procedure for product approvals in these nations is significantly less demanding, which has permitted the simple introduction of innovative items and medical devices into this market.
|Market size value in 2021||USD 6.13 billion|
|Market size value in 2028||USD 8.50 billion|
|Forecast period||2022 -2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Sports Medicine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sports Medicine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sports Medicine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Sports Medicine Market for additional countries.
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