The Sports Medicine by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sports Medicine , The sports medicine market size has grown strongly in recent years. It will grow from $7.61 billion in 2023 to $8.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rise in sports injuries, growing emphasis on physical fitness, increase in sports participation, expansion of arthroscopic procedures, focus on injury prevention programs, rising awareness among athletes..
The sports medicine market size is expected to see strong growth in the next few years. It will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to personalized medicine approaches, expansion of sports medicine clinics, nutritional strategies for performance enhancement, global sports events and sponsorships, focus on mental health in sports.. Major trends in the forecast period include technological solutions for rehabilitation, telemedicine and remote monitoring, integration of wearable technologies, advanced orthopedic technologies, collaboration with sports teams and leagues..
The increasing number of sports injuries is expected to propel the sports medicine market’s growth going forward. Sports injuries refer to injuries that are caused during sports or exercise, and they are not limited to athletes. They are commonly caused by a direct impact, overuse, or force application. Sports medicine provides treatment or support for sports injuries, so an increase in sports injuries will propel market growth. For instance, in 2021, according to a report shared by the National Safety Council, a US-based public service organization for health and safety, sports and recreational injuries in the US increased by 20% to 409,224 in 2021. Further, 91% of injury victims are treated in the emergency department with sports medicine and released. Therefore, the increasing number of sports injuries is driving the growth of the sports medicine market.
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The sports medicine market covered in this report is segmented –
1) By Product: Implants, Fracture And Ligament Repair Products, Arthroscopy Devices, Prosthetics, Other Products
2) By Injury Type: Knee Injuries, Shoulder Injuries, Foot And Ankle Injuries, Back And Spine Injuries, Hip And Groin Injuries
3) By End User: Hospitals, Ambulatory Surgery Centres, Physiotherapy Centres And Clinics
Product innovations are a key trend gaining popularity in the sports medicine market. Major companies operating in the sports medicine market are focused on developing new technological solutions to strengthen their position. For instance, in April 2021, Smith & Nephew Inc., a UK-based medical equipment manufacturing company, launched a new 4K surgical imaging technology called 4KO. The new technology is designed to improve image quality and increase the resolution by a minimum of 30%. The 4KO provides increased brightness and clarity to the surgeons so they can determine the best treatment for the patients. The new technology is meant to expand the company’s sports medicine wireless arthroscopic tower.
The sports medicine market report table of contents includes:
1. Executive Summary
2. Sports Medicine Market Characteristics
3. Sports Medicine Market Trends And Strategies
4. Sports Medicine Market – Macro Economic Scenario
5. Global Sports Medicine Market Size and Growth
6. Sports Medicine Market Segmentation
7. Sports Medicine Market Regional And Country Analysis
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27. Sports Medicine Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sports Medicine Market
29. Sports Medicine Market Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Stryker Corporation
- Arthrex Inc.
- Wright Medical Technology Inc.
- Zimmer Biomet Holdings Inc.
- Smith & Nephew PLC
- Mueller Sports Medicine Inc.
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