Global Sports Medicine Market Size is Expected to Reach USD 10684 Million, with a ~4.7% CAGR by 2028

New York, Nov. 08, 2022 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Sports Medicine Market By Product Type (Body Reconstruction Products, Body Support & Recovery And Accessories) And By Application Like Shoulder Injuries, Ankle & Foot Injuries, Elbow & Wrist Injuries, Back & Spine Injuries, Hip & Groin Injuries, Knee Injuries And Other Injuries - Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028” in its research database.

“According to the latest research study, the demand of global Sports Medicine Market size & share in terms of revenue was valued at USD 7308.7 Million in 2020 and it is expected to surpass around USD 10684 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 4.7% during the forecast period 2021 to 2028.”

What are Sports Medicine? How big is the Sports Medicine Industry?

Sports Medicine Industry Coverage & Overview:

As both the number of individuals who get hurt while playing sports and the number of people who participate in sports and other activities that are related to fitness, there has been an increase in the demand for sports medicine. Over the course of the projection period, it is projected that a change from proactive to preventative care for sports injuries would further enhance the market for sports medicine. The discipline of medicine that is specifically related to athletic competition and other forms of physical activity is known as "sports medicine." The fields of performance enhancement, injury care, and injury prevention are the primary emphases of medicine for athletes. Medicine encompasses both preventative approaches, such as the prevention of injuries, and curative approaches, such as rehabilitation and osteopathy. Exercise therapy is a component of medical care for the prevention and management of chronic diseases. A sports orthopedist, a sports physician, a sports physiotherapist, a sports trainer, a sports massage therapist, a sports podiatrist, and a sports scientist are all members of the medical team.

For instance, Smith & Nephew introduced a line of fluid-management pumps, laparoscopes, and arthroscopes, as well as 4K imaging technologies, to the market for surgeons specializing in sports medicine in May 2021.
The global market is anticipated to be propelled by the increasing focus on individual health and the government's increased involvement in promoting and encouraging sporting activities. There may be more sports injuries if the number of sports played significantly increases.

Report Outlook:

The report covers forecast and analysis for the Sports Medicine market on a global and regional level. The study provides historic data of 2016 to 2019 along with a forecast from 2021 to 2028 based on revenue (USD Billion). The study includes drivers and restraints for the Sports Medicine market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Sports Medicine market on a global level.

This report offers comprehensive coverage on global Sports Medicine market along with, market trends, drivers, and restraints of Sports Medicine market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the Sports Medicine market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared by using data sourced from in-house databases, secondary and primary research team of industry experts. Research analysts & consultants cooperate with leading companies of the concerned domain to verify value of data exists in this report.

The study offers a vital outlook on the Sports Medicine market by designating the market based on product, end users, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2021 to 2028.

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Global Sports Medicine Market: Growth Dynamics

It is projected that the introduction of new products as well as technical developments will have a favourable influence on demand in the region. Therefore, the primary element that is driving new money into the expansion of this industry is the growing demand that is being caused by the rising incidence of sports injuries. In addition, actions taken by the government on behalf of the sports business are consistently responsible for the expansion of the market. On the other hand, the high price of products may be a barrier to the growth of the market for medicines. On the other hand, replacement opportunities for the pharmaceutical industry are anticipated to become available in the next few years as a result of unexplored markets and shifting regulatory landscapes in the industry.

Growth Drivers

1. The worldwide incidence of sports injuries continues to rise.
2. Improved implant and wearable device technology
3. Sports medicine facilities are proliferating to meet the growing demand for minimally invasive surgical procedures.
4. Getting the word out about the importance of exercise and sports

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Sports Medicine Market: COVID-19 Impact Analysis

Due to the pandemic that was caused by the COVID-19 outbreak, the majority of organized sports activities have been cancelled or postponed, and entertainment activities are not permitted due to stringent government guidelines. This has resulted in the loss of many lives and businesses on an unprecedented scale. Around 29 million elective surgeries all over the world are going to be cancelled or postponed in the years 2020 and 2021, which is supported by 12 weeks of peak disruption to hospital services caused by COVID-19. This is consistent with the findings of the COVIDSURG Collaborative, which is a research initiative that was formed in 120 countries to research the impact of the COVID-19 pandemics on surgeries. According to the findings of the study, orthopedic treatments are also going to be the procedures that are cancelled the most frequently, with 6.5 million orthopedic surgeries being cancelled around the world as a result of the pandemic. Because of the Covid-19 epidemic, the expansion of the drug market has been put on pause; however, it is anticipated that this will resume once the situation has returned to normal.

Sports Medicine Market: Segmentation Analysis

The study offers a vital outlook on the Sports Medicine market by designating the market based on product, end users, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2021 to 2028.

• The product type market covered under this study includes Body Reconstruction Products, Body Support & Recovery and Accessories.
• The Application covered in this study includes Shoulder Injuries, Ankle & Foot Injuries, Elbow & Wrist Injuries, Back & Spine Injuries, Hip & Groin Injuries, Knee Injuries and Other Injuries.

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By Products

• Body Reconstruction Products
  • Implants
  • Fracture and Ligament Repair Devices
  • Arthroscopy Devices
  • Prosthetic Devices
  • Orthobiologics
• Body Support & Recovery
  • Braces and Support
  • Compression Clothing
  • Physiotherapy
    • Thermal Therapy
    • Electrostimulation
    • Other Therapies
• Accessories

By Application

• Shoulder Injuries
• Ankle & Foot Injuries
• Elbow & Wrist Injuries
• Back & Spine Injuries
• Hip & Groin Injuries
• Knee Injuries
• Other Injuries

Browse the full “Sports Medicine Market By Product Type (Body Reconstruction Products, Body Support & Recovery And Accessories) And By Application Like Shoulder Injuries, Ankle & Foot Injuries, Elbow & Wrist Injuries, Back & Spine Injuries, Hip & Groin Injuries, Knee Injuries And Other Injuries - Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028” Report at https://www.zionmarketresearch.com/report/sports-medicine-market

Competitive Landscape

Some of the main competitors dominating the global Sports Medicine market include - 

• Smith & Nephew Plc
• Stryker Corporation
• Johnson & Johnson (Depuy Mitek)
• Arthrex Inc.
• Conmed Corporation
• Zimmer Biomet Holdings Inc.
• Breg Inc.
• Mueller Sports Medicine Inc.
• DJO Global Inc.
• Wright
• Medical Group N.V.

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Sports Medicine market is likely to expand at a CAGR of around 4.7% during the forecast period (2021-2028).
• In terms of revenue, the Sports Medicine market size was valued at around US$ 7308.7 Million in 2020 and is projected to reach US$ 10684 million by 2028.
• In 2020, sports medicine was dominated by body reconstruction products.
• By application, sports medicine is dominated by knee injuries.
• Based on Region, North America dominates the global sports medicine industry and is expected to continue doing so.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Sports Medicine industry?
• What are the main driving factors propelling the Sports Medicine Market forward?
• What are the leading companies in the Sports Medicine Industry?
• What segments does the Sports Medicine Market cover?
• How can I receive a free copy of the Sports Medicine Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2021−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by By Product Type, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Regionally, North America has been leading the worldwide Sports Medicine market and is anticipated to continue in the dominant position in the years to come. High product acceptance rate and favorable government initiatives supporting the production of Sports Medicine is the main factor behind the dominance of the North America Sports Medicine market. Europe is the second largest segment in the sports medicine market is expected to show significant growth in the forecast period as a result of the increasing prevalence of chronic sports injuries. The Asia Pacific is projected to grow at the fastest growth shortly and this is due to increasing awareness and government support towards the sports industry. 

The geographical segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Furthermore, these major regions are bifurcated into major countries such as U.S., Canada, Mexico, Poland, Russia, UK, France, Germany, China, Japan, India, South Korea, ASEAN, Brazil, and Argentina.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In March 2021, AnkleSprain.com is the first patient-focused educational website, and it was developed by Anthrax. The website is dedicated to the treatment of ankle sprains. Because of this, the company has been able to raise awareness about ankle sprains among the public, which has had a beneficial effect on the company's clients.
• In June 2021, DJO LLC made the announcement that they had acquired Mathys AG Bettlach. The new additions to DJO's product line include things like artificial joint replacement implants and several other sports medicine solutions. The company was able to maintain its market position as well as obtain a competitive edge over other businesses as a result of the purchase, which helped the company create and supply orthopedic solutions of the next generation.

Report Scope

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FREQUENTLY ASKED QUESTIONS

1. What was the value of global Sports Medicine Market in 2020?

The global Sports Medicine Market was valued at USD 7308.7 Million in 2020.

2. What will be the size of the global Sports Medicine Market in 2028?

The global Sports Medicine Market is expected to reach USD 10684 Million by 2028, growing at a CAGR of 4.7% between 2021 to 2028.

3. What are the key factors driving the global Sports Medicine Market growth?

The demand for sports medicine is on the rise due to the growing incidences of sports injuries and the increasing participation of people in sports and fitness-related activities.

4. Which region will make notable contributions in the global Sports Medicine Market?

North America is expected to remain the dominant region over the forecast period. North America followed by Asia-Pacific and Europe in terms of demand for Sports Medicine.

5. Who are the major companies operating in the global Sports Medicine Market?

Key operating players in Sports Medicine market are like Smith & Nephew Plc, Stryker Corporation, Johnson & Johnson (Depuy Mitek), Arthrex, Inc., Conmed Corporation, Zimmer Biomet Holdings, Inc., Breg, Inc., Mueller Sports Medicine, Inc., DJO Global, Inc., and Wright, Medical Group N.V

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