Global Sports Medicine Market Size By Product(Body Reconstruction Products, Body Support and Recovery Products), By Application(knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries), By End-User(hospitals, ambulatory surgery centers), By Geographic Scope And Forecast
Report ID: 3753|No. of Pages: 202
Global Sports Medicine Market Size By Product(Body Reconstruction Products, Body Support and Recovery Products), By Application(knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries), By End-User(hospitals, ambulatory surgery centers), By Geographic Scope And Forecast
Sports Medicine Market Size And Forecast
Sports Medicine Market size was valued at USD 5.81 Billion in 2021 and is projected to reach USD 9.48 Billion by 2030, growing at a CAGR of 5.61% from 2023 to 2030.
The rising number of sports injuries, increasing advancements in treatment modalities, continuous influx of new products, and growing awareness of regenerative medicine have driven the global Sports Medicine Market. The Global Sports Medicine Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Sports Medicine Market Definition
Sports medicines, also known as sport and exercise medicine (SEM), are prescribed by sports medicine specialists, which deals with the treatment and physical fitness and preventing any injuries related to exercise and sports. Sports medicine primarily focuses on sports-related medical services to the athletics and other sports staff. Sports medicine healthcare professionals get special training to treat athletics to restore function to injured athletics. So that, Athletes get back on the field as soon as possible.
Sports medicine includes different types of body reconstruction products such as fracture and ligament repair products, implants, arthroscopy devices, orthobiologics, prosthetics, and body support and recovery products such as physiotherapy equipment, braces and supports, compression clothing, electrostimulation, thermal therapy, and accessories that are used as sports medicine to treat multiple types of injuries such as ankle sprains, fractures, knee and shoulder injuries, tendonitis, and many more, advancement in these products provide complete care, new and innovative treatment options to treat different types of sports injuries and also helps to maintain preventive care.
However, it does not stop at preventing illness and accidents, it also contains medications that increase athletic performance and protect athletes from possible injuries. The global Sports Medicine Market expects to expand due to the high penetration of sports medicine devices in developing countries due to new advanced treatments, improved healthcare facilities, and increasing affordability as per capita income rises.
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Global Sports Medicine Market Overview
Globally, sports injuries have increased over the last few years, primarily due to the growing participation in sports and active participation in fitness activities (the increasing focus on leading healthy lifestyles). People hardly have time to exercise or engage in physical activities in today’s fast-paced world. So, they participate in sports activities willingly, some for fun and others to have physical activity. When more people participate in sports, injuries also increase, necessitating injury care and recovery. The incidence of fractures and ligament tears is high among people participating in sports. Also, the lower extremity constitutes a significant portion of sports injuries globally. With the increasing participation in sports and subsequent growth in sports injuries, the demand for injury management and rehabilitation expect to increase across the globe.
This demand for injury management and rehabilitation is considered a positive indicator of the development of the Sports Medicine Market. The influx of new sports and various sports tournaments are stimulating the interest of a rising number of people. So, they have begun to consider sports as a full-fledged career. Moreover, private funding supports and funds youngsters interested in athletics, motivating them to pursue sports interests. With more tournaments and matches and an increasing number of people entering this field, the market for sports medicine expects to grow during the forecast period.
The major restrictive factor for the growth of the Sports Medicine Market is the high cost of implants. The cost of these implants is a primary concern for market growth in countries such as India, where only a tiny section of the population is under insurance coverage. Affording such high-cost treatment is still a big challenge for most people. The rise in sports medicine equipment-related product recalls, and lack of healthcare infrastructure in under-developed countries obstruct market growth. Recalling the product creates a negative image of the product and the company in customers’ minds, which is currently blocking the market for sports medicine. The lack of healthcare infrastructure due to fewer government initiatives and low awareness is also hampering market development.
High-cost medicines and lack of sporting culture are also reasons for some countries’ slow growth in the Sports Medicine Market. Due to poor economic growth in Underdeveloped and Developing countries, the healthcare facilities lack well-developed infrastructure, which drives lower adoption of these products. Furthermore, a lack of sporting culture is also responsible for the slow development of sports medicine in these countries. Also, the market in these countries is highly-priced sensitive. These factors anticipate limiting the market growth. Emerging countries such as China and India are home to a vast patient base. They expect to offer potential growth opportunities for players working in the Sports Medicine Market due to the increasing disposable incomes in these countries (due to the fast economic growth) and rising participation in sports and physical activities. Also, currently, governments in these countries are beginning initiatives to develop and improve their respective healthcare infrastructures.
Global Sports Medicine Market: Segmentation Analysis
The Global Sports Medicine Market is Segmented on the basis of Product, Application, End-User, and Geography.
Sports Medicine Market, By Product
• Body Reconstruction Products
o Fracture and Ligament Repair Products
o Arthroscopy Devices
o Implants
o Others
• Body Support and Recovery Products
o Braces and Supports
o Compression Clothing
o Physiotherapy Equipment
o Others
• Accessories
Based on Product, the market is bifurcated into body reconstruction products (fracture & ligament repair products, arthroscopy devices, implants, and others), body support & recovery products (braces & supports, physiotherapy equipment, and compression clothing), and accessories. The body support & recovery products segment expects to witness the most accelerated growth during the projection period. Products such as supports, braces, and physiotherapy equipment are required before and after procedures involving reconstruction. Therefore, the need for these devices is rising due to the increasing number of sports injuries globally.
Sports Medicine Market, By Application
• Knee injuries
• Shoulder injuries
• Foot & ankle injuries
• Elbow & wrist injuries
• Back & spine injuries
• Hip & groin injuries
• Other injuries
Based on Application, the market is bifurcated into knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries, back & spine injuries, hip & groin injuries, and other injuries. The knee injuries segment held the largest market share in 2020, which is expected to continue during the forecast period. The large share of this segment can attribute to the fact that many knee injuries are recorded across significant sports globally, accounting for approximately 41% of all injuries due to sports.
This is because extreme running and jumping lead to wear and tear of the knee joint. There are various advanced treatments, including dry needling, soft tissue massage, osteopathic manipulation, platelet-rich plasma therapy, and arthroscopic surgeries for knee repair. The advancement of the medical field and the increasing prevalence of minimally invasive surgeries are also fueling the Sports Medicine Market.
Sports Medicine Market, By End-User
• Hospitals
• Ambulatory surgery centers
• Physiotherapy centers and clinics
Based on End-User, the market is bifurcated into hospitals, ambulatory surgery centers, and physiotherapy centers and clinics. The hospital segment expects to dominate the global Sports Medicine Market. The large share of this segment can attribute to factors like increasing usage of sports medicine in surgical implants such as the knee, shoulder, wrist, and elbow to treat any sports injury carried in hospitals. However, the physiotherapy centers and clinics segment is estimated to register the highest CAGR during the forecast period, primarily due to sports medicine equipment’s cost-effectiveness and easy accessibility.
Sports Medicine Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
Based on Geography, the Global Sports Medicine Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America expects to dominate the Sports Medicine Market due to increasing government initiatives to encourage athletes to play any sport. Along with this, many manufacturers are launching new and advanced technology-based sports medicine in the region. The U.S. expects to dominate and lead the growth of the North American market, which is likely to increase due to increased cases of sports injuries among the athletes, along with this vast R&D procedure is performed in the U.S. to introduce advanced technology-based sports medicines to provide better treatment and fast recover of the athletes, which help them to return their field as soon as possible.
In Europe, Germany dominates with the highest growing CAGR due to large end-users being snagged in adopting advanced technology-based sports medicine. Asia-Pacific will expand with the highest CAGR in forecast periods because, in Asia-Pacific, countries increasing introduction of novel products and treatment modalities due to active government participation in promoting sports activities, and China expects to dominate the Asia-Pacific market as China is one of the world’s leading countries in the rapid influx of athletes.
Key Players
The “Global Sports Medicine Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Smith & Nephew, Zimmer Biomet, Stryker, Breg, Medtronic, Bird & Cronin, Arthrex, Wright Medical Group N.V., Arthrosurface, Össur Corporate, Mueller Sports Medicine, Ceterix Orthopaedics, General Electric Company, KFx Medical LLC., MedShape, Inc., Osiris Therapeutics, Inc., NuVasive, Inc.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Smith & Nephew, Zimmer Biomet, Stryker, Breg, Medtronic, Bird & Cronin, Arthrex, Wright Medical Group N.V. |
| SEGMENTS COVERED | By Product, By Application, By End-User, and By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL SPORTS MEDICINE MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL SPORTS MEDICINE MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porter Five Force Model
4.4 Value Chain Analysis
5 GLOBAL SPORTS MEDICINE MARKET BY PRODUCT
5.1 Overview
5.2 Body Reconstruction Product
5.2.1 Fracture and Ligament Repair Products
5.2.2 Arthroscopy Devices
5.2.3 Implants
5.2.4 Others
5.3 Body Support and Recovery Products
5.3.1 Braces and Supports
5.3.2 Compression Clothing
5.3.3 Physiotherapy Equipment
5.3.4 Others
5.4 Accessories
6 GLOBAL SPORTS MEDICINE MARKET BY APPLICATION
6.1 Overview
6.2 Knee injuries
6.3 Shoulder injuries
6.4 Foot & ankle injuries
6.5 Elbow & wrist injuries
6.6 Back & spine injuries
6.7 Hip & groin injuries
6.8 Other injuries
7 GLOBAL SPORTS MEDICINE MARKET BY END-USER
7.1 Overview
7.2 Hospitals
7.3 Ambulatory surgery centers
7.4 Physiotherapy centers and clinics
8 GLOBAL SPORTS MEDICINE MARKET BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Middle East and Africa
8.5.2 Latin America
9 GLOBAL SPORTS MEDICINE MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
10 COMPANY PROFILES
10.1 Smith & Nephew
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 Zimmer Biomet
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Stryker
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Breg
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Medtronic
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Bird & Cronin
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 Arthrex
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 Wright Medical Group N.V.
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Arthrosurface
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
10.10 Össur Corporate
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments
10.11 Mueller Sports Medicine
10.11.1 Overview
10.11.2 Financial Performance
10.11.3 Product Outlook
10.11.4 Key Developments
11 Appendix
11.1 Related Research
Report Research Methodology
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Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
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Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
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- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
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We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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