Sports Medicine Market to Reach USD 10.8 billion by 2031, driven by the growth in investment in healthcare infrastructure across the globe: Global Insight Services
An area of medicine called sports medicine is concerned with enhancing patients’ athletic prowess. Products for sports medicine help with both the healing of sports injuries and the prevention of new ones.
Sports Medicine Market: Key Trends and Drivers
Growing government involvement in promoting and encouraging sports activities, along with growing public awareness of personal health, is anticipate to drive the global market statistics. Increased participation in sports could result in an increase in the frequency of sports injuries.
The National Safety Council (NSC) reports that more than 400,000 injuries resulting from sports-related activities occurred in the United States in 2019. In addition, technological developments in the orthopaedic field, such as the 3D printing of implants and the introduction of bionic technology and sensor technology in prosthetic limbs, will provide the sports medicine industry with previously unheard-of growth opportunities over the forecast period.
Sports Medicine Market: Restraints and Challenges
In nations like India, where only a small percentage of the population has access to health insurance, a pricey implant poses a serious threat to the market’s expansion. Since orthopedic surgeons undertake the majority of operations for sports injuries, a major barrier for the business is a lack of educated orthopedic doctors.
Body support & recovery products segment is anticipated to dominate the market during the forecast period
Base on the product, it is segment into body reconstruction products, body support and recovery products, and accessories. Body support & recovery products segment is anticipated to dominate the market during the forecast period. Products such as braces, support, and physiotherapy equipment are require before and after procedures involving reconstruction. So, the demand for this device is boosting owing to the increasing number of sports injuries across the globe.
The knee injuries segment is anticipate to dominate the market during the forecast period
Based on the application, it is segmented into knee injuries, shoulder injuries, foot & ankle, elbow & wrist, back & spine, hip & groin, and other injuries. The knee injuries segment is anticipate to dominate the market during the forecast period. The large share of this segment can be attribute to the fact that a large number of knee injuries are record across major sports, across the globe.
The hospitals segment is anticipate to dominate the market during the forecast period
Based on the end user, it is segmented into hospitals, ambulatory surgery centers, physiotherapy centers & clinics. The hospitals segment is anticipate to dominate the market during the forecast period. The large share of this segment is primarily attribute to the factors such as complex diagnostic and therapeutic procedures being carried out in hospitals. However, the physiotherapy center & clinics segment is anticipate to witness the fastest growth during the forecast period. Owing to cost effectiveness and easy availability of sports medicine equipment.
The North America region is anticipate to dominate the market during the forecast period
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America region is anticipate to dominate the market during the forecast period. Factors such as the increasing popularity of sports & physical activity, increasing awareness regarding the prevention & treatment of sports injuries coupled with growing investment in sports medicine are boosting the growth of the market.
Recent Developments
- June 2021, DJO, LLC, announced the acquisition of Mathys AG Bettlach. Products such as implants for artificial joint replacement and other sports medicine solutions were add to DJO’s product portfolio. The acquisition helped the company to develop and deliver the next generation of orthopedic products to sustain its market position coupled with gaining a competitive edge over others.
- March 2021, Arthrex introduced the first patient-focused educational website AnkleSprain.com, dedicated to ankle sprain treatment. This has helped the company to create awareness among people regarding ankle sprain, thereby positively impacting company’s clientele.
- June 2020, Smith+Nephew launched Intellio in the market. Intelllio is a sports medicine system connectivity and management platform. This app allows to connect and control arthroscopy surgical towers wirelessly.
Sports Medicine Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Sports Medicine market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluate in this report.
- The forecasts in this report are made by examining the recent trends along with future Sports Medicine market potential from 2021 to 2031 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Sports Medicine market are also analyse.
- Major players in the market are profile in this report and their key developmental strategies are study in detail. This will provide an insight into the competitive landscape of the global Sports Medicine industry.
Global Sports Medicine Market Segmental Overview
Product
- Body Reconstruction Products
- Body Support and Recovery Products
- Accessories
Application
- Knee Injuries
- Shoulder Injuries
- Foot & Ankle Injuries
- Elbow & Wrist Injuries
- Back & Spine Injuries
- Hip & Groin Injuries
- Others
End User
- Hospitals
- Ambulatory Surgery Centers
- Physiotherapy Centers & Clinics
