Sports Medicine Market by: Product (Body Reconstruction and Repair, Body Support, Body Monitoring, and Evaluation, and Accessories); Application (Elbow & Wrist Injury, Shoulder Injury, Knee Injury, Ankle/Foot Injury, Spine Injury, and Others); End-User (Hospitals and clinics, Physiotherapy Centres, Sports Centers, Ambulatory Surgery Centres): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026865 | Pages: 100 | Industry: Pharmaceuticals | Date: Oct 2022 | Type: Global

The market crossed the US$ 6.22 billion mark in 2022 and is expected to hit US$ 10.09 billion by 2030, recording a CAGR of 6.1% during the forecast period.

The Sports Medicine market has been significantly growing with the increasing number of sports injuries across the world.

Within the report, the market is segmented into product type, application, end-user, and geography. Based on product type, the market is segmented into body reconstruction products, body support and recovery products, body monitoring and evaluation, and accessories. In 2021, the body reconstruction products segment held the largest share of the market. Moreover, the body monitoring and evaluation segment are also expected to register the highest CAGR of 8.3% in the market during the forecast period.

On the basis of application, the market is segmented into elbow & wrist injury, shoulder injury, knee injury, ankle & foot injury, spine Injury, and others. In terms of end-user, hospitals and clinics, physiotherapy centers, sports centers, and ambulatory surgery centers Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

The Rising Demand for Minimally Invasive Methods is a Major Factor in Accelerating the Market Growth of Sports Medicine.

Sports injuries are usually minor, but orthopedists try to avoid surgical interventions in the case of more significant injuries. Minor injuries can generally be treated with minimally invasive methods such as physiotherapy, orthotics, acupuncture, arthroscopic surgery, and sports medicine. Professional athletes risk their lives for excellence in their respective sports, which often leads to many sports injuries, sometimes even permanent injuries at the end of a career. Newer and minimally invasive surgical techniques for dealing with sports injuries also shorten the time it takes for players to return to sports. These treatments are less invasive than surgery and generally require a shorter recovery period. These minimally invasive methods are inexpensive. The introduction of novel implants and prostheses and the development of performance monitoring devices are creating numerous opportunities in the market. Among the procedures popular today, arthroscopy has become a major elective procedure. Frost & Sullivan estimates that approximately 180,000 to 200,000 arthroscopic procedures are performed in India.

Increasing demand for minimally invasive surgeries and the growing number of sports medical centers is shaping the growth and development of the sports medicine devices market. The high growth is attributed to the increasing adoption of computer-assisted robotic surgeries to reduce hospital stays and recovery times and a faster return to normal activities in sports injuries, which is increasing the market growth.  

Rising Technological Advancements in Sports Medicine is the Major Factor in Accelerating Market Growth in Future

Medical technologies play a role in many aspects of an athlete's routine, from predicting and preventing sports-related injuries to monitoring fitness and enhancing recovery after a training session or competitive outing. The rise of artificial intelligence (AI), automation, and a host of other technological breakthroughs over the same period is leading to the introduction of innovations to optimize performance, maintain fitness, and extend athletes' careers. Further, new technologies and applications are also showing the potential to provide athletes and their coaches with even more valuable biometric data, including heart rate, metabolism, workload, and core temperature, which, in turn, can be used to detect fatigue and predict its likelihood of future injury.

Recent strategic developments in the sports medicine market.

The sports medicine market has undergone several significant developments, and a few of these have been mentioned below:

  • In January 2022, Smith+Nephew acquires novel cementless partial knee system
  • In September 2022, Smith+Nephew launches OR3O Dual Mobility System in Japan for use in primary and revision hip arthroplasty
  • In August 2021, Smith+Nephew to feature new Sports Medicine technology for joint repair and connected arthroscopic tower during AAOS 2021.
  • In May 2021, Smith+Nephew launches ARIA Home PT – a remote physical therapy solution
  • In June 2020, Smith & Nephew announced that it will launched its Intellio connected tower platform to connect and control sports medicine systems.
  • In June 2020, Smith & Nephew received the CE mark approval for Regeneten Bioinductive Implant, thus allowing its sale in key European markets.
  • In March 2019, Arthrex partnered with Clemson University, US, with the aim of providing 10 scholarships worth USD 7500 each, for students who will take courses and internships specifically tailored to the needs of the surgical device industry
  • In August 2018, DePuy Synthes entered into an agreement with SERF (Société d’Etude, de Recherche et de Fabrication), France, in order to strengthen its hip portfolio by adding a dual-mobility acetabular cup in hip implants.

The sport medicine market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Arthrex Inc., Conmed Corporation, Medtronic, DePuy Synthes, Stryker, Smith & Nephew, DJO Global Inc., Zimmer Biomet, Wright Medical Group, and Breg Inc. among others are among the prominent players operating in the market.

The target audience for the report:

  • Raw material providers
  • Sports Medicine distributor and retailer
  • Sport Medicine Manufacturer
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Central Laboratory, Hospitals, and Clinics
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Material Type:
    • Body Reconstruction Products
    • Fracture and Ligament Repair Products
    • Arthroscopy Devices
    • Implants
    • Prosthetic Devices
    • Orthobiologics
    • Body Support and Recovery Products
    • Braces and Supports
    • Compression Clothing
    • Physiotherapy Equipment
        • Thermal Therapy
        • Electrostimulation
        • Other Therapies
          • Ultrasound Therapy
          • Laser Therapy
    • Accessories       
  • Structure
  • Knee Injuries
  • Shoulder Injuries
  • Foot and Ankle Injuries
  • Elbow and Wrist Injuries
  • Back and Spine Injuries
  • Hip and Groin Injuries
  • Other Injuries
  • Application
  • Hospitals
  • Ambulatory Surgery Centres
  • Physiotherapy Centres and Clinics
  • Region:
  • North America
  • Europe
  • Asia Pacific
  • South & Central America
  • Middle East & Africa
  • Companies profiled:
  • Arthrex Inc.
  • Conmed Corporation
  • Medtronic
  • DePuy Synthes
  • Stryker
  • Smith & Nephew
  • DJO Global Inc.
  • Zimmer Biomet
  • Wright Medical Group
  • Breg Inc.
  • Others

The List of Companies:
- Arthrex Inc.
- Conmed Corporation
- Medtronic
- DePuy Synthes
- Stryker
- Smith & Nephew
- DJO Global Inc.
- Zimmer Biomet
- Wright Medical Group
- Breg Inc.
- Others

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