Overview and Scope
Sports medicine refers to an area of medicine concerned with physical fitness and the treatment, and prevention of injuries that are resulting from athletic activities. They are used to reduce pain and inflammation.
Sizing and Forecast
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..
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Segmentation & Regional Insights
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
North America was the largest region in the sports medicine market in 2023. The regions covered in the sports medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the sports medicine market are focusing on digital distribution channels such as a product website to drive revenues in their market. The updated website demonstrates the range of products offered by Maruho Medical and emphasizes the company’s innovative focus on soft tissue fixation in sports medicine. For instance, in March 2023, Maruho Co. Ltd. a Japan-based pharmaceutical company launched a new website to support next phase of growth. The apollo knotless anchor, which was just introduced, is shown off on the company’s redesigned website together with the rest of its product line. This is made to support future technological advancements that Maruho plans to add to its soft tissue repair portfolio and to give resources to both its customers and sales team. The knotless fixation feature of the anchor can be advantageous in specific surgical procedures and is consistent with the goal of introducing innovative soft tissue fixation techniques for sports medicine.
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
……
31. Global Sports Medicine Market Competitive Benchmarking
32. Global Sports Medicine Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sports Medicine Market
34. Sports Medicine Market Future Outlook and Potential Analysis
35. Appendix
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