Number of pages: 120 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – | Forecasted Years – 2021-2031
The global sports medicines market was pegged at US$ 5.35 billion in 2020 and is expected to witness a CAGR of 5.5% during the forecast period.
Market Fundamentals
Sports medicines is a branch of medicine that deals with the physical fitness, treatment and prevention of injuries related to sports and other athletic activities or exercise. Sports medicine can be used to treat wide range of physical conditions, including fractures, strains, sprains, concussions, and dislocations. It can also be used to treat chronic injuries such as degenerative diseases, tendonitis, and overtraining syndrome. Sports medicine is commonly used for rehabilitating professional athletes.
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Market Dynamics
Various factors attributing to the growth of sports medicine market include the rising incidence of sports injuries, growing demand for minimally invasive surgeries, and the rising awareness of people to stay fit and participate in the fitness related activities. Moreover, technological advancements such as 3D printed implants and new product launches are also propelling the global sports medicine market growth. However, high cost of implants and the rising number of product recalls are some of the factors hindering the sports medicine market to a certain extent.
Market Ecosystem
The global sports medicine market has been analyzed from four perspectives: Product, Application, End User, and Region.
Sports Medicine Market by Product
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Based on product, the sports medicine market has been segmented into reconstruction products, support & recovery products, and accessories. Reconstruction products segment is further bifurcated into fracture & ligament repair products, implants, arthroscopy devices, prosthetic devices, and orthobiologics. Support & recovery products segment is further categorized into braces & supports, physiotherapy equipment, and compression clothing. Support & recovery products segment is anticipated to grow at the highest CAGR during the forecast period. Rising awareness regarding the benefits of physiotherapy and increasing use of braces & supports after surgeries are some of the important factors fueling the segmental growth.
Sports Medicine Market by Application
Based on application, the market has been segmented into knee injuries, shoulder injuries, elbow & wrist injuries, foot & ankle injuries, back & spine injuries, hip & groin injuries, and others. Knee injuries segment held the largest share of the sports medicine market in 2020. Majority of injuries that happen during sports activities are knee injuries. Therefore, their high incidence rate is the major factor driving the demand for sports knee injury products.
Sports Medicine Market by End User
Based on end user, the market has been segmented into hospitals, physiotherapy centers and clinics, and ambulatory surgery centers. Hospitals segment held the largest share of the sports medicine market in 2020. Hospitals being the first choice of patients for conducting diagnostic procedures and thus, it is the major factor fueling the growth of this end user segment.
Sports Medicine Market by Region
Regionally, the global sports medicine market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the market for sports medicine, holding the largest market share in 2020. Greater popularity of sports in North America and growing number of sports injuries among athletes are key drivers of the regional market. Moreover, dense presence of regional players and incessant launch of new and advanced products are some other factors driving the market growth in this region.
Competitive Landscape
Some of the prominent players operating in the global sports medicine market includes:-
Strategic Developments
|
Report Attribute |
Details |
|
Historical Period |
2018 & 2019 |
|
Base year for estimation |
2020 |
|
Forecast period |
2021-2031 |
|
Market size in 2020 |
USD 5.5 billion |
|
Market size in 2031 |
USD 9.64 billion |
|
Growth Rate |
5.5% |
|
Segments covered |
Product, Application, and End User |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
The global sports medicines market was estimated to clock at US$ 5.5 billion in 2020.
The sports medicines market is projected to reach US$ 9.64 billion by 2031.
Various factors attributing to the growth of sports medicine market include the rising incidence of sports injuries, growing demand for minimally invasive surgeries, and the rising awareness of people to stay fit and participate in the fitness related activities. Moreover, technological advancements such as 3D printed implants and new product launches are also propelling the global sports medicine market growth.
Arthrex, Inc., Smith & Nephew, DePuy Synthes, Conmed Corporation, Stryker, Zimmer Biomet, Breg, Inc., Wright Medical Group N.V., DJO (Colfax Corporation), Medtronic, among others
The growth rate of sports medicines market is CAGR of 5.5% between 2021-2031
North America held the largest market share of the global sports medicines market in 2020
*Insights on financial performance is subject to availability of information in public domain
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