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.
Rise in incidence of sports-related injuries and increase in sport-related injuries among young generation have boosted the global sports medicine market. Moreover, active participation of government for promoting sports activities and surge in demand for minimally invasive surgeries supplemented the market growth. However, lack of skilled professionals and inappropriate administration and guidelines in the field of sports medicine hamper the growth of the market. On the contrary, increasing adoption of regenerative sports medicine is expected to generate lucrative opportunities for the market players in the coming years.
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The body reconstruction & repair segment contributed to about half of the market share in 2016 and is estimated to maintain its dominance throughout the study period. This segment is further divided into implants, arthroscopy devices, fracture and ligament repair devices, prosthetic devices, and orthobiologics. Among these, orthobiologics is the fastest growing segment, registering a CAGR of 9.3% during the study period. The body support and recovery segment is bifurcated into thermal therapy products, brace and support devices, compression clothing, monitoring devices, and others. The braces & support contributed the largest share in the market, holding about five-ninths of the total share in 2016.
Comprehensive Analysis of The Key Players
The major market players that are profiled in the global sport medicine market report include Smith & Nephew Plc, Johnson & Johnson (Depuy Mitek), Conmed Corporation, Breg, Inc., DJO Global, Inc., Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc., Mueller Sports Medicine, Inc., Wright, and Medical Group N.V.
The report offers insights on application segments including knee injuries, shoulder injuries, ankle and foot injuries, back and spine injuries, elbow and wrist injuries, hip injuries, and others. The knee injuries segment is expected to grow at the highest CAGR of 8.4% during the forecast period, owing to increase in incidence of meniscus tear among athletes.
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Key Findings of the Sports Medicine Market:
- The body reconstruction & repair segment is anticipated to generate the highest revenue during the forecast period.
- The cardiac monitoring and evaluation devices segment dominated the body monitoring and evaluation market, accounting for one third of the total share in 2016.
- North America dominated the market, accounting for maximum share of overall market in 2016.
- Asia-Pacific is exhibited to grow at a high rate of 10.6% during forecast period, owing to the increase in awareness regarding physical fitness in various countries in this region.
- The braces and support products dominate the body support & recovery segment during the forecast period.
- Shoulder injuries accounted for one sixth of the total share in 2016, with a CAGR of 6.7%.
The report analyzes the global sports medicine market based on regions including Asia-Pacific, North America, Europe, and LAMEA. According to the research, Asia-Pacific region witnessed the highest growth rate and is estimated to continue its dominance throughout the forecast period.
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