The demand for sports medicine has witnessed an increase over the years owing to the rise in injuries among athletes. In addition, various technological advancements such as, orthobiologics, and novel treatment devices are expected to boost the growth of sports medicine in near future.
Global Sports Medicine Market was valued at $6,615 million in 2016, and is expected to reach $11,172 million by 2023, registering a CAGR of 7.7% from 2017 to 2023. Sports medicine is a branch of healthcare that deals with enhancing people’s athletic performance. Sport medicine products help people recover from injuries and prevent future injuries. In addition, sports medicine has displayed a considerable growth among all the other healthcare fields, as professionals in this field have the capability to treat all kinds of people, and not just athletes.
Sports medicine is a branch of healthcare industry that deals with physical fitness of people involved in sports. Sports medicine involves prevention and treatment of injuries related to sports and exercise. Common sport injuries include anterior cruciate ligament (ACL) tears, ankle sprains, muscle cramps, and shin splints. Demand for sports medicine has increased owing to active participation of athletes in different kind of sports across different countries. Various aspects of sports medicine such as indulging in sports activities for fitness, recommendations for physical training, sports injury prevention, and treatment contributes to the market growth.
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The body reconstruction & repair segment is anticipated to maintain its dominance during the forecast period. Body reconstruction & repair products such as implants, arthroscopy devices, and orthobiologics assist in the treatment, and prevention of sport-related injuries. Orthobiologics is the fastest growing segment of body reconstruction & repair products registering a CAGR of 9.3% during the forecast period. In addition, braces & support is the highest revenue contributor to body support & recovery products accounted for five ninths share in 2016. Sports medicine is largely employed in the treatment of knee injuries owing to the increase in incidence of meniscus tear among sportsperson. Moreover, knee injuries are growing at the highest CAGR of 8.4% from 2017 to 2023, as such injuries occurs most frequently in athletes playing all kinds of sports, among all age groups.
Rise in the incidence of sports related injuries primarily drives the growth of the sports medicine market. Sport-related injuries have upraised in the young generation owing to the increase in participation in sports. In addition, active participation of government for promoting sports activities and growth in demand for minimally invasive surgeries boost the market growth. Further, easily accessible and advanced treatment products related to sports medicine for quick and easy recovery supplements the growth in demand for sports medicine. However, lack of skilled professionals as well as inappropriate administration and guidelines in the field of sports medicine hampers the growth of the market. Furthermore, rise in adoption of regenerative sports medicine offers profitable opportunities for the expansion of this market.
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Key players operating in the sports medicine market have adopted product launch as their key developmental strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share. The major companies profiled in the report 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., and Wright, Medical Group N.V.