Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global sports medicine market size is predicted to USD 9.86 billion by 2026, exhibiting a CAGR of 5.8% during the forecast period. The rising prevalence of chronic conditions, including cardiovascular diseases and obesity, is escalating participation in sports activities. Moreover, rising awareness about a healthy lifestyle will spur participation of children in sports activities, which in turn will contribute positively to the sports medicine market revenue. According to Stanford children’s Health statics, more than 30 million children and teens in the U.S participate in organized sports. Whereas one-third of the injuries reported are sports injuries. Furthermore, innovation in new products and surgical devices will bolster the healthy growth of the market in the forthcoming years. In addition, the rising demand for minimally invasive surgeries in developed and developing nations will further create new sales opportunities for the sports medicine market analysis.
Key Industry Development
- Smith & Nephew launched iIntellio connected tower platform to connect and control sports medicine systems. It has a remote control, an on-screen display optimized for surgeon workflow, and a cloud-based image management portal.
- American Orthopaedic Society for Sports Medicine (AOSSM) announced the launch of open access Video Journal of Sports Medicine (VJSM), a video-based teaching and learning platform. AOSSM has developed this with the mindset of digital learning and to deliver best practices across sports medicine in the management of athletes and active people.
- Smith+Nephew, medical technology business, announced the HEALICOIL KNOTLESS Suture Anchor launch to expand its comprehensive line of advanced healing solutions for rotator cuff repair.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 5.8% |
| 2026 Value Projection | USD 9.86 Billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 6.26 Billion |
| Historical Data | 2015 to 2017 |
| No. of Pages | 130 |
Key Takeaways
- Sports injuries include spondylolysis, fractures, strains and sprains, stitches, disc injuries and Scheuermann's disease.
- According to the EU IDB sports catalogue, about 4.5 million people aged 15 and over are treated in a hospital for injuries each year.
- Asia-Pacific is expected to grow at a higher CAGR over the projection period.
- By Device Type Analysis the Global market of sports medicine can be segmented into surgical devices, bone rebuilding devices, body support devices.
The sports medicine market stood at USD 6.26 billion in 2018. Combined with the market analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the market, and all articulated with geographical and merchandise segments. Moreover, it also shows different procedures and strategies, benefactors and dealers working in the market, explores components convincing market development, generation patterns, and following systems. Additionally, the figures and topics covered in this report are both all-inclusive and reliable for the readers.
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Rising Number of Medical Sports Centres will Accelerate Revenue in North America
North America stood at USD 2.60 billion in 2018 and is expected to grow rapidly during the forecast period. The increasing number of medical sports centers will aid the expansion of the market in North America. The growing participation in sports and physical activities by children will augment the healthy growth of the market in the region. Asia Pacific is predicted to grow significantly in the forthcoming years. The rising demand for sports medicine from developing countries such as China, India, and Japan will boost the sports medicine market trends. Furthermore, increasing government initiatives to educate healthcare professionals and promote research will further facilitate growth in the region.
Acquisition of Ivy Sports Medicine by Stryker will Enable Speedy Market Expansion
The announcement of Stryker's Endoscopy division, a visualization platform enabling distinguish anatomy across all minimally invasive procedures, acquired Ivy Sports Medicine, LLC, medical equipment production company. The acquisition will enable Stryker to provide customers with a complete meniscal platform to better serve their patients. The agreement between the companies will boost the sports medicine market share owing to the portfolio of the company, which includes the only FDA-approved collagen meniscus implant (CMI) on the market a reliable and innovative all-inside repair device, as well as an inside-out meniscal suturing platform. In addition, the developing sports infrastructure, along with the growing patient pool in hospitals, will facilitate the growth of the market. According to the EU IDB catalog of sports, about 4.5 million people aged 15 and above have been treated in hospital for a sports injury each year. In addition, the presence of opportunities such as corporate funding & scholarships for students will bode well for the market in the forthcoming years.
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Factors affecting the growth of Sports Medicine industry?
There are several factors that can affect the growth of the sports medicine industry. Some of these factors include:
- Increasing participation in sports and physical activity: As more people engage in sports and physical activity, there is a corresponding increase in the demand for sports medicine products and services.
- Advances in technology: The development of new and improved medical devices, diagnostic tools, and treatment options is driving growth in the sports medicine industry.
- Growing awareness of the importance of injury prevention: There is a growing awareness of the importance of injury prevention in sports, which is leading to an increase in the demand for sports medicine products and services.
- Government support and funding: Governments around the world are increasingly providing financial support and funding for sports medicine research, which is driving growth in the industry.
- Aging population: As the population ages, there is an increase in the number of people who are participating in sports and physical activity, leading to an increase in the demand for sports medicine products and services.
- Increase in the number of youth sports: The number of youth participating in sports is increasing, this leads to more demand for the sports medicine industry for their injuries and treatments.
- Increase in the number of professional athletes: With the rise of professional sports, the number of professional athletes is also increasing, leading to more demand for the sports medicine industry for their injuries and treatments.
- Increase in the number of adventure sports: With the rise of adventure sports like rock climbing, bungee jumping, and other extreme sports, the number of injuries and accidents is also increasing, leading to more demand for the sports medicine industry.
Some of the Major Companies in the Sports Medicine Market Include:
- Arthrex, Inc.
- Smith & Nephew
- Stryker
- CONMED Corporation
- Zimmer Biomet
- Johnson & Johnson Services, Inc.
- KARL STORZ SE & Co. KG
- Other players
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Table of Content
- Global Sports Medicine Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Device Type
- Surgery Devices
- Bone Reconstruction Devices
- Body Support Devices
- Others
- Market Analysis, Insights and Forecast – By Application
- Knee
- Head & Neck
- Shoulder
- Ankle & Foot
- Wrist and Elbow
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Sports Medicine Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Device Type
- Surgery Devices
- Bone Reconstruction Devices
- Body Support Devices
- Others
- Market Analysis, Insights and Forecast – By Application
- Knee
- Head & Neck
- Shoulder
- Ankle & Foot
- Wrist and Elbow
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Sports Medicine Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Device Type
- Surgery Devices
- Bone Reconstruction Devices
- Body Support Devices
- Others
- Market Analysis, Insights and Forecast – By Application
- Knee
- Head & Neck
- Shoulder
- Ankle & Foot
- Wrist and Elbow
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
Continued...
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