Sports medicine focuses on the treatment of sports and exercise-related injuries. A vast range of goods and services, including implants, arthroscopy equipment, orthopedic braces and supports, and joint reconstruction solutions, are available in sports medicine.
In 2021, the market for sports medicine was worth USD 6.90 billion, and by 2030 it will reach USD 11.86 billion, growing at a 6.2% CAGR during the forecast period.
The rising number of sports injuries, the growth of medical associations, and ongoing technology advancements will drive the sports medicine market. Another factor boosting the market over the forecast period is the absence of carelessness while playing the sport.
Market Dynamics
Drivers
Sports injuries are becoming more prevalent, which has a direct impact on market growth. The market will develop as a result of increasing rates of knee injuries, aching muscles, pain along the shin bone, rotator cuff injuries, Achilles tendon injuries, fractures (broken bones) and dislocations. In the United States, there are 2 million acute ankle injuries each year. According to the Board of Certification for Athletic Trainers. Increasing research and development spending, particularly in established. and developing countries, will further expand the market for medical devices and technology.
Restraints
The lack of knowledge is one of the main factors affecting the worldwide market for sports. Professionals with expertise and knowledge are in more demand. One of the main impediments to the growth of the sports medicine market is the absence of physicians specializing in sports medicine.
Opportunity
Due to their vast patient populations, developing nations like China and India will present a sizable opportunity for market expansion. The market for sports medicine will expand Due to rising disposable income and expanding kid and adult participation in sports.
Market Segmentation
By Product
In 2022, the body repair and reconstruction segment led the entire market. The body reconstruction and repair industry includes a variety of devices. Such as surgical instruments, soft tissue healing equipment, and tools for bone restoration. The sizeable market share was attributed to the increasing usage of fracture. And ligament repair devices and arthroscopy equipment in minimally invasive treatments.
On the other hand, the accessories segment will grow the fastest during the projected time. This category generally consists of bandages, tapes, wraps, disinfectants, and other supplies required to treat minor sports injuries. The main factor driving this market’s expansion is the rising popularity of the PRICE therapy as an emergency treatment for sports injuries.
By Application
The knee application category ruled the market in 2022. And held the largest market share due to the continued rise in knee injuries. Due to the knee joint degradation brought on by prolonged running and jumping. Many sports- and other physical activity-related illnesses affect the knee. According to the British Journal of Sports Medicine, knee injuries are highly common and account for 41% of all sports injuries.
In addition, a number of cutting-edge treatments are accessible, including platelet-rich plasma therapy, dry needling, soft tissue massage, osteopathic manipulation, and arthroscopic knee replacement. The wide variety of easily available therapies. And the increased incidence of knee injuries are two major factors contributing to the segment’s rise.
Regional Overview
The United States dominated the North American sports medicine market in 2022. Sports medicine is becoming more and more necessary across the country. Due to millennials’ increased obsession with physical activity and fitness. Doctors are also educating the public about the importance of regular physical activity for maintaining good health and preventing disease.
Germany will likely grow in the European sports medicine industry during the forecast period. As more people participate in football and other sports, athletic injuries are becoming more frequent. Also, the benefits of cardiorespiratory physical fitness are widely recognized by the populace. which is assisting the growth of the sports medicine industry.
Key Players
· Hanger Inc.
· Braun Melsungen AG
· Johnson & Johnson Services, Inc.
· Novartis AG
· Arthrex Inc. (US), AlloSource
· Smith & Nephew plc
· Össur
· Medtronic
· Surgalign
· Mueller Sports Medicine, Inc.
· Otto Bock Healthcare GmBH
· Zimmer Biomet
· CONMED Corporation
· Stryker
· Arthrex Inc.
· AlloSource
· Wright Medical Group NV.
In 2021, the market for sports medicine was worth USD 6.90 billion. And by 2030 it will reach USD 11.86 billion, growing at a 6.2% CAGR during the forecast period. The market is growing due to the rising usage of wearable technology. Such as fitness bands, to monitor athletes’ stress levels and stop athlete fatigue and injury problems. The shift from a strategic approach to preventative care for sports-related injuries will likely drive market growth throughout the forecast period.
Sports medication alludes to the total scope of clinical products used to forestall, treat, and recuperate from sports-related wounds. Albeit most groups had doctors for very quite a long while, sports medication has just been perceived as a particular part of medication since the late 20th 100 years. Sports medication is a doctor specialty in numerous nations where it is perceived, esteemed, and rehearsed, albeit, in whatever (as the US), it can likewise be a non-careful or careful clinical forte, as well as a specialty field inside most extreme essential consideration. In different situations, sports medication alludes to clinical subject matter experts and partnered wellbeing experts who work in the domain of game, like physiotherapists, podiatrists, athletic mentors, and exercise physiologists.
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