Global Sports Medicine Market

Global Sports Medicine Market Size, Share, Growth Analysis, By Product(Implants, Fracture), By Injury Type(Knee injuries, Shoulder injuries), By End-use(Hospitals, Ambulatory Surgery Centres) - Industry Forecast 2024-2031

Report ID: SQSG35A2059 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 100 | Figures: 78

Global Sports Medicine Market Insights

Sports Medicine Market size was valued at USD 7.37 billion in 2019 and is poised to grow from USD 7.78 billion in 2023 to USD 12.04 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

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.

US Sports Medicine Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Sports Medicine Market size was valued at USD 7.37 billion in 2019 and is poised to grow from USD 7.78 billion in 2023 to USD 12.04 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

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. 'Arthrex', 'Smith & Nephew', 'Stryker Corporation', 'Zimmer Biomet', 'DJO Global', 'Breg, Inc.', 'Mueller Sports Medicine, Inc.', 'Össur', 'DePuy Synthes Companies (a Johnson & Johnson company)', 'Cramer Products, Inc.', 'Medtronic', '3M Healthcare', 'Medline Industries, Inc.', 'Conmed Corporation', 'Wright Medical Group N.V.', 'Biotek Instruments, Inc.', 'RTI Surgical, Inc.', 'Integra LifeSciences Corporation', 'KARL STORZ', 'Bauerfeind AG', 'In March 2022, During the AAOS (American Academy of Orthopaedic Surgeons) 2022 Annual Meeting, Smith+Nephew announced the inclusion of Sports Medicine technology for joint repair and a linked arthroscopic tower.', 'In March 2021, AnkleSprain.com, the first patient-focused instructional website dedicated to ankle sprain therapy, was launched by Arthrex. This has aided the firm in raising public awareness of ankle sprains, which has benefited the company's customers.'

Globally, the prevalence of sports injuries has grown in recent years, owing mostly to increasing engagement in sports and active participation in fitness activities. Sports participants are more likely to sustain ligament tears and fractures. Furthermore, the lower extremity accounts for a significant share of all sports injuries worldwide. With increased engagement in sports (among both children and adults) and an increase in the frequency of sports injuries, the need for injury treatment and rehabilitation is predicted to rise globally. This is regarded as a favourable sign of the sports medicine market's expansion.

Emerging nations such as India and China have a large patient population and are likely to offer prospective development possibilities for companies in the sports medicine market, owing to rising disposable incomes (due to fast economic expansion) and increased engagement in sports and physical activities. Furthermore, governments in these nations are now pursuing projects to develop and upgrade their respective healthcare systems.

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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