Number of pages: 120 | Report Format: PDF | Published date: January 28, 2022
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 4.97 billion |
Revenue Forecast in 2031 |
US$ 9.98 billion |
CAGR |
8.05% |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Product, Application, End User, and Region |
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global sports medicine market was valued at US$ 4.97 billion in 2022 and is expected to register a revenue CAGR of 8.05% to reach US$ 9.98 billion by 2031.
Sports Medicine Market Fundamentals
Sports medicine is a branch of medicine that deals with physical fitness, treatment, and prevention of injuries related to sports and other athletic activities or exercise. Sports medicine can treat various 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.
Sports Medicine Market Dynamics
The rising popularity of various sports globally and growing awareness of people staying fit and participating in fitness-related activities have increased the incidence of sports-related injuries. According to the statistics from Stanford Children’s Health, in the U.S., 30 million children and teens participate in some form of organized sports, and more than 3.5 million children and adolescents ages 14 years and younger get hurt annually playing sports or participating in recreational activities. Such a high incidence of sports-related injuries has led to an increasing need for medicines and devices to manage these injuries, which in turn is propelling the growth of the sports medicine market. Factors contributing to the growth of the sports medicine market include continuous technological advancements in sports medicine devices and new product launches. Moreover, growing incidences of sports injuries and increasing demand for minimally invasive surgeries are some of the other factors driving the sports medicine market growth. Moreover, players in the sports medicine market are focused on launching new devices that are technologically advanced. These devices are designed such that they help patients in faster recovery. For instance, in December 2019, Fuse Medical Inc. introduced their latest orthopedic and sports medicine product offerings, the Galen Medial and Galen XT Suture Anchors, the Kopis Knotless Anchor, and the Vida Interference Screws. Such new product launches are boosting the sports medicine market growth. Companies in the market are adopting inorganic growth strategies such as collaborations, partnerships, and entering joint ventures. Through such strategies, the companies are developing new products as well as distributing the products in other regions. For instance, in October 2020, BioPoly, LLC entered into an exclusive distribution agreement with Verve Medical Products, Inc., a Canada-based distributor, to distribute the BioPoly partial resurfacing products in Canada. BioPoly implants can be used in knee surgeries. They are designed to replace only the damaged cartilage of a patient’s joint rather than replacing the entire joint.
However, the high cost of implants and other devices used for diagnosis and treatment or for post-surgical recovery is one of the factors restraining the market growth. Moreover, product recalls have also raised concerns among the patient population, hindering their adoption. For instance, in June 2020, Mueller Sports Medicine, Inc. recalled the class II device mueller sports medicine hybrid wraparound knee support.
Sports Medicine Market Ecosystem
The global sports medicine market has been analyzed from the following perspectives: by product, application, and region.
Sports Medicine Market by Product
Based on the product, the global sports medicine market is segmented into body support & recovery, body reconstruction & repair, body monitoring & evaluation, and accessories.
The body reconstruction & repair segment dominated the global market with more than 40.01% revenue share in 2022. The body reconstruction & repair segment of sports medicine focuses on addressing these injuries through surgical interventions, such as arthroscopy, ligament reconstruction, and joint replacement. The prevalence of sports injuries drives the demand for body reconstruction and repair procedures, leading to the dominance of this segment. The sports medicine market caters not only to recreational athletes but also to high-performance athletes, including professional sports teams and Olympic athletes. These individuals require prompt and effective treatment for their injuries to ensure a quick return to sports activities. The field of body reconstruction and repair has witnessed significant advancements in surgical techniques, including minimally invasive procedures, tissue engineering, and implant technologies. These advancements have improved surgical outcomes, reduced recovery times, and enhanced the overall efficacy of treatment. Additionally, the availability of advanced surgical options and techniques has propelled the growth of the body reconstruction & repair segment. The body reconstruction & repair segment plays a crucial role in addressing complex injuries and enabling athletes to return to their sports at optimal performance levels. The collaboration with sports teams further contributes to the dominance of this segment in the sports medicine market. The body reconstruction & repair segment benefits from ongoing technological advancements and product innovation. Companies develop and introduce specialized surgical instruments, implants, and graft materials that are specifically designed for sports-related injuries. These advancements enhance surgical precision, improve patient outcomes, and expand the range of treatment options available, driving the dominance of the segment. There is a global trend of increasing awareness about the importance of physical fitness and participation in sports activities. This has led to a rise in the number of individuals engaging in sports and recreational activities, consequently increasing the likelihood of sports-related injuries. As a result, the demand for body reconstruction and repair procedures has surged, contributing to the dominance of this segment. Furthermore, insurance coverage for sports injuries and related medical interventions, including body reconstruction and repair procedures, has improved over time. Insurance providers recognize the significance of these procedures in restoring the health and functionality of injured athletes. The availability of insurance coverage facilitates access to these procedures, bolstering the dominance of the body reconstruction & repair segment.
Sports Medicine Market by Application
Based on the application, the global sports medicine market is segmented into shoulders, elbow & wrist, knees, hips, back & spine, ankle & foot, and others.
The knee segment accounts for the highest revenue share of over 30.80% in 2022. Knee injuries are among the most common sports-related injuries. Athletes participating in various sports, such as soccer, basketball, football, and skiing, are particularly prone to knee injuries due to the high impact, repetitive movements, and sudden directional changes involved. Thus, the prevalence of knee injuries drives the demand for sports medicine interventions focused on knee-related conditions. The knee joint is a complex structure consisting of bones, ligaments, tendons, and cartilage. It is susceptible to various injuries, including ligament tears (such as anterior cruciate ligament or ACL tears), meniscal tears, patellar instability, and cartilage damage. For instance, according to BMJ Journals ‘British Journal of Sports Medicine,’ it was noticed that knee injury accounted for nearly 41% of all sports injuries. The intricate nature of knee injuries often necessitates specialized diagnostic, surgical, and non-surgical interventions, contributing to the dominance of the knee segment in the sports medicine market. Knee injuries frequently require surgical interventions for optimal recovery and restoration of functionality. Procedures such as ACL reconstruction, meniscal repair or transplantation, cartilage restoration, and knee arthroscopy are commonly performed in sports medicine. The demand for these surgical procedures drives the dominance of the knee segment in the market. Athletes, especially high-performance athletes, are highly motivated to recover quickly and regain their pre-injury performance levels. Additionally, advances in knee surgery techniques, including minimally invasive procedures, computer-assisted surgery, and robot-assisted surgery, have significantly improved patient outcomes and recovery times. These advancements have further strengthened the dominance of the knee segment by enhancing the efficacy and acceptance of knee-related surgical interventions. Sports medicine interventions for knee degeneration, including joint preservation techniques, partial or total knee replacements, and regenerative therapies, contribute to the dominance of the knee segment in the market. Moreover, the increasing participation in sports and physical activities worldwide has led to a larger population of athletes at all levels. This expanding athlete population creates a higher demand for sports medicine services, particularly for knee-related injuries and conditions. The knee segment benefits from the substantial number of athletes seeking medical care for knee injuries, strengthening its dominance in the market.
Sports Medicine Market by Region
Based on the region, the global sports medicine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominated the global market with more than 47.90% revenue share in 2022. North America possesses a highly developed healthcare infrastructure with advanced hospitals, specialized clinics, and research institutions. The region is at the forefront of medical innovation and technology, offering state-of-the-art facilities for sports medicine treatments and interventions. North America has a high prevalence of sports-related injuries due to the popularity and widespread participation in various sports and physical activities. For instance, according to U.S. Consumer Product Safety Commission (CPSC) data, an estimated 454,407 sports-related head injuries were treated at U.S. hospital emergency rooms in 2018. This number represents a decrease of nearly 32,875 sports-related injuries from the previous year. The region has a robust sports culture that includes professional sports leagues, collegiate athletics, and recreational sports. The large population of athletes and sports enthusiasts drives the demand for sports medicine services, leading to the dominance of the North America market. North America has a strong emphasis on sports performance and athletic achievements. The region is home to renowned sports teams, professional athletes, and major sports events. The region's significant healthcare spending enables the development of advanced medical technologies, research, and the availability of specialized sports medicine services. Smith & Nephew, for example, launched its new ‘HEALICOIL KNOTLESS Suture Anchor’ in the market in September 2020. In conjunction with REGENESORB Material, this product promotes in-bone development and repair. The financial resources available in North America support the growth and dominance of the sports medicine market. North America has a strong focus on sports medicine research and education. Prestigious medical institutions, universities, and research centers in the region conduct extensive research in the field of sports medicine, leading to advancements in diagnosis, treatment, and rehabilitation techniques. Additionally, the availability of cutting-edge research and educational opportunities attracts top medical professionals and contributes to the growth of the sports medicine market. Moreover, the availability of insurance coverage and reimbursement policies ensures affordability and encourages individuals to seek sports medicine treatments. This favorable insurance landscape further drives the dominance of the North American market. North America is home to several major companies operating in the sports medicine market. These companies have a strong presence, extensive distribution networks, and collaborations with healthcare providers, sports teams, and regional institutions. The concentration of key market players further strengthens the dominance of North America in the global sports medicine market.
Competitive Landscape
The prominent players operating in the global sports medicine market are:
Strategic Developments
Sports medicine is a specialized branch of medicine that focuses on preventing, diagnosing, treating, and rehabilitating injuries and medical conditions related to sports and physical activities. Sports medicine encompasses various healthcare professionals, techniques, and products aimed at supporting athletes, promoting performance, and facilitating recovery from sports-related injuries.
Smith+Nephew Plc., Stryker Corporation, and Zimmer Biomet Holdings Inc. are some of the major market players in the global sports medicine market.
Sports-specific challenges and the high cost of treatment are some of the restraints obstructing the growth of the global market.
The body reconstruction & repair segment dominates the global sports medicine market.
The rise in sports-related injuries and increasing participation in sports and physical activities are some of the major factors driving the global market.
*Insights on financial performance are subject to the availability of information in the public domain