Sports medicine’s main goal is to prevent and treat illnesses and injuries associated with sports. Sports injuries help athletes perform better, provide injury care, and enable injury prevention strategies like osteopathy and rehabilitation. Physiotherapy equipment, thermal therapy, electrostimulation, implants, prostheses, body support, and rehabilitation products, including braces, compression clothes, and accessories, are all included in sports medicine.
In 2021, the market for sports medicine was USD 6.90 billion, and by 2030, it will reach USD 11.86 billion, growing at a 6.2% CAGR during the forecast period.
Sports injuries are more likely to occur as young people participate in more sports-related activities. Additionally, athletics has gained popularity as a practical way to maintain physical fitness and fight lifestyle illnesses due to the increased knowledge of health issues. As a result, the number of sports-related injuries and muscle tears has increased, increasing the need for treatments and goods.
As proactive treatment for sports injuries gives way to preventive care, the market for sports medicine will expand throughout the projected period. Due to the growing use of wearable technologies, such as fitness bands and other sensors that detect stress loads and shield athletes from fatigue-related illnesses, the demand for sports medicine has increased. For instance, the Nova Scotia-based performance-based company Athletigen Technology, Inc. works with different athletes to improve their health and performance while reducing the occurrence of sports-related illnesses by using the data acquired from their DNA.
Furthermore, a rise in public & private funding for targeted research, a rise in kids playing sports, and an increase in innovation and development because of global technological advancements will present profitable opportunities for market participants.
The high cost of implant materials severely hampers the market growth. The requirement for qualified orthopedic doctors is a key obstacle for the industry because orthopedic surgeons perform most procedures for sports injuries.
Due to their large patient populations, rapid economic growth, rising disposable incomes, and rising participation in sports and physical activity, developing nations with large patient populations, such as India and China, will present significant development opportunities for the sports medicine market. By 2040, all developing nations will gain $4.4 trillion, or a 7% boost in GDP, predicts Brookings. Depending on income level, the proportional increase in GDP in 2040 is between 7 and 11%.
In 2022, the body repair and reconstruction segment led the entire market. The body reconstruction and repair industry includes a variety of devices, such as surgical instruments, soft tissue healing equipment, and tools for bone restoration. The sizeable market share is due to the increasing use of fracture and ligament repair devices and arthroscopy equipment in minimally invasive treatments.
The accessories segment will grow at a rapid rate. The primary factor boosting the market’s expansion is the rising popularity of the PRICE (Protection, Rest, Ice, Compression, and Elevation) therapy as an emergency treatment for sports injuries.
The knee application segment was the biggest market in 2022 due to the continuous rise in knee injuries. Due to the knee joint degradation caused by prolonged running and jumping, many sports- and other physical activity-related illnesses affect the knee. The wide variety of easily available therapies and the increased incidence of knee injuries are two major factors contributing to the segment’s rise.
The hospital segment ruled the entire market with the biggest revenue share. The need for sports medicine is growing due to complicated procedures, diagnostic tests, and other medical treatments. The ankle, knee, and hamstring are the most often injured joints in football,
The United States ruled the North American sports medicine market in 2022. Sports medicine is becoming more and more necessary nationwide due to millennials’ increased obsession with physical activity and fitness. Doctors are also educating the public about the importance of regular physical activity to maintain good health.
Germany will likely grow in the European sports medicine industry. Athletic injuries are becoming more frequent as more people participate in football and other sports. Also, the benefits of cardiorespiratory physical fitness are widely recognized by the populace, which is assisting the growth of the sports medicine industry.
Arthrex Inc. (US), AlloSource
Braun Melsungen AG
Johnson & Johnson Services, Inc.
Smith & Nephew plc
Mueller Sports Medicine, Inc.
Otto Bock Healthcare GmBH
Wright Medical Group NV.
In 2021, the market for sports medicine was USD 6.90 billion, and by 2030 it will reach USD 11.86 billion, growing at a 6.2% CAGR during the forecast period. The need for sports medicine is growing due to the rising instances of sports injuries and increasing participation in sports and fitness-related activities.
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