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"Overview of Sports Medicine Market, Trends, Analysis, Opportunities, Share and Forecast – 2020-2028"
Sports are a rapidly growing industry worldwide. The sports medicine industry is a multi-billion dollar industry that encompasses the medical treatment and care of injured athletes including all of the subspecialties of medicine as well as nutrition, physiology, and preventative health care. It involves a wide scope of healthcare services for professional athletes and recreationally active individuals. It provides them with diagnostic, rehabilitative, curative, and preventive medical services. In several countries around the world, there has been an upsurge in demand for sports medicine as there has been an increase in the percentage of sports injuries. Also, athletic activities are becoming popular in large parts of society and a large number of people are also participating in such activities
The regional and international government is taking initiatives about sports medicines across the globe which is anticipated to fuel the growth of the global sports medicine market throughout the forecast period.
The Rise in Incidents of Sports Injuries is driving the Growth of the Global Market
In recent years, athletic activities have gained significant importance around the world. As large numbers of people are engaging in sports and recreation activities, injuries resulting from these activities pose an increasingly important public health concern. The growth in the incidences of sports injuries is the key driving factor for the growth of the sports medicine market. As per the National Health Statistics, annually, an average estimate of 8.6 million sports and recreation-related injury episodes was reported in 2019. Sports medicine focuses on aiding people to improve their athletic performance, recover from injury and prevent future injuries. Sports medicine physicians provide specialized care for athletes, fitness professionals, and active individuals to enhance injury and re-injury prevention and their athletic performance. It also offers leading-edge reconstructive surgical techniques to regenerative medicine procedures like platelet-rich plasma therapy and stem cell therapy, to help restore the function of the injured areas. Additionally, the availability of high-performance technologies and enhanced treatment management will further stimulate industry growth.
Body Reconstruction and Recovery is Expected to be the Dominant Segment
In terms of products, the body reconstruction and repair segment is the dominant segment by holding the largest market share. This is mainly due to a rise in demand for arthroscopy devices across the globe
North America is dominating the Global Market, accounting for 35.13% Share in 2019
Geographically, the North America region held the dominant share in the global sports medicine market in 2019 and is expected to continue its dominance over the forecast period. The developed healthcare infrastructure, early adoption of advanced technology in fitness facilities in the U.S. are the major factors contributing to the growth of the sports medicine industry in North America. Additionally, favorable reimbursement policies, strong government support for athletes, and increasing awareness regarding the treatment and prevention of sports injuries are driving the North America sports medicine market. Also, the U.S. dominance in sports such as Basketball, Football, and Baseball, which cause the largest number of injuries, is another factor that is expected to augment the demand for sports medicine in the North American region.
Moreover, Europe is expected to hold the second-largest share owing to the large participation of countries such as France, Spain, the United Kingdom and Germany in several sports. Furthermore, it is also a popular destination for sports events such as the French Open, FIFA, hockey and basketball league, which in turn, increases the demand for sports medicine services in Europe.
Asia Pacific is expected to be the Fastest Growing Region, growing at a CAGR of 7.1%
The Asia Pacific region is expected to grow at a significant rate owing to the surging popularity of sports and physical activity in countries such as China, India, Japan, and South Korea. The growing investments in sports, increasing awareness about sports medicines and the growing participation of several Asian players in several global sports drives the growth of the sports medicine market in the Asia Pacific region.
The company’s strategy includes strategic mergers and acquisitions along with new product launches to enhance its business portfolio. Also, the key players are focused on extensive research and development activities to develop innovative products.
Fuse Medical Launched Suture Anchor Product Line for Sports Medicine
In September 2019, Fuse Medical announced to launch the Galen Medial and Galen XT Suture Anchors, the Kopis Knotless Anchor, and the Vida Interference Screws.
Some of the prominent players involved in the global sports medicine market include Stryker Corporation, CONMED Corporation, Arthrex, Inc., DJO Global, Zimmer Biomet Holdings, Inc., Smith & Nephew Plc, Johnson & Johnson, Mueller Sports, Inc, Wright Medical Group, Inc., and Breg Inc.
Global Sports Medicine by Product
- Body reconstruction and repair
- Fracture & Ligament Repair Products
- Arthroscopy Devices
- Body support and recovery
- Braces and other support devices
- Physiotherapy Equipment
- Body monitoring and evaluation
Global Sports Medicine by Application
- Ankle and foot
- Back and spine
- Elbow and wrist
Global Sports Medicine by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America