The ‘Global Sports Medicine Market Share Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global sports medicine market, assessing the market on the basis of its segments like product, application, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Sports Medicine Market Size, Share, Price Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.8%
|Market Size in 2020||USD 6.5 billion|
|Revenue Forecast in 2026||USD 9.2 billion|
|Growth Rate CAGR||5.8%|
|Major Players||Smith & Nephew, Stryker Corporation, Mueller Sports Medicine, Inc,|
RTI Surgical Holdings, Inc., Breg, Inc., and among others.
Increased participation in various sports and physical activities has increased the incidences of sports injuries, fuelling the sports medicine market. Moreover, awareness campaigns are being set up regarding prevention as well as treatment of sports injuries which is creating a strong impact on the market owing to the advancements and innovations in the field of medicines. Various governments and private medical research organisations are investing in the development of these medications for faster recovery and treatment of sports participants.
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With increasing globalisation, more sports are being played at an international level with countries vying for the winning position, due to which they are proactively maintaining the health of their players with the help of sports medicine. Apart from maintaining health, sports medicine also helps in boosting the performance of players, helping them manage both their training and nutrition together.
Sports medicines are commonly used by players of active sports such as football, baseball, basketball, and soccer. These sports can cause injuries ranging from a simple strain to dislocation of the bone. Rising prevalence of serious injuries is increasing the number of sports and medical centres run by professionals who perform assessment, treatment, diagnostics, surgery, and also provide care after treatment. The growing network of treatment centres is fuelling the overall sports medicine market.
Sports Medicine Industry Definition and Major Segments
Sports medicine is a branch of medicine that is mainly focused on the prevention and treatment of a wide range of injury caused during any sport or physical activity. There are various sub-categories of sports medicine for specific treatments, such as sports dentistry, sports psychology, chiropractic, sports nutrition, sports vision, and sports physiology.
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Based on product, the market can be segmented into:
- Body Reconstruction
- Fracture and Ligament Repair Products
- Arthroscopy Devices
- Body Support and Recovery
- Braces and Supports
- Thermal Therapy
- Ultrasound Therapy
- Laser Therapy
- Electrostimulation Therapy
- Body Monitoring and Evaluation
- Cardiac Monitoring
- Respiratory Monitoring
- Hemodynamic Monitoring
- Musculoskeletal Monitoring
- Compression Clothing
On the basis of application, the market has been classified into:
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Hip and Groin Injuries
- Elbow and Wrist Injuries
- Back and Spine Injuries
Based on end use, the market can be categorised into:
- Orthopaedic Specialty Clinics
- Fitness and Training Centres
- Ambulatory Surgical Centres
On the basis of region, the market can be segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Sports Medicine Market Trends
The key trends in the global sports medicine market include the rapid rise in innovations such as 3D printing and custom braces which can be created as per the needs of specific players for targeted results and improved protection. The market has been observing a continuous evolution due to advancements in research and technology which thereby allow the delivery of the quality and best product to the consumers. Sports medicine technologies such as ultrasound guided injection for speed recovery, stimulated environments for injury prevention among other advanced technologies are becoming major trends and contributing to the growth of the overall sports medicine market.
Governments all around the globe are investing in developing new sports facilities and also in enhancing the overall sports infrastructure. Some of the initiatives include addition of number of sport events that is subjected to increase the participation, thus helping in the growth of the sports medicine market. In Jamaica, their government established a sports medicine rehabilitation programme in order to provide easy access of medical care to the athletes. They also signed a memorandum of understanding with overseas and local partners with an aim to advance the rehabilitation programme that will help in the growth of the market.
Key Market Players
The major players in the sports medicine market report are Smith & Nephew, Stryker Corporation, Mueller Sports Medicine Inc., RTI Surgical Holdings Inc., and Breg Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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