Sports Medicine Market Size
According to the report published, the size of the global sports medicine market is forecasted to worth USD 10.67 Billion by the end of 2025, registering a CAGR of 8.1% from 2020 to 2025.
Key Market Drivers
The significant factor contributing most to the market growth is growing cases of sports injuries due to the increasing population and rising awareness about the benefits of playing sport. Technological advancement in sports medicine equipment is the key to the development of this market during the forecast period. The growing focus of private and government institutions to build better sports infrastructure will boost the growth of the sports medicine market. The increasing scholarships and corporate funds for the development of players will positively influence the market. A shift from proactive to preventive care for sports injuries is further expected to drive the market for sports medicine over the forecast period.
Browse TOC and other details of the global sports medicine market research report that spread through 160 pages @ https://www.marketdataforecast.com/market-reports/sports-medicine-market
Significant Challenges
The key factor hindering the growth of the market is the rise in product recalls related to sports medicine equipment. The lack of healthcare infrastructure at some places due to low awareness and fewer government initiatives is also restraining the market growth. A lack of sporting culture and the high cost of medicines are also factoring responsible for the slow development of sports medicine in some countries.
Impact of Covid-19 On the Global Sports Medicine Market:
COVID-19 is expected to negatively impact the market during the forecast period. The surge in cases of positive corona cases all across the world has forced the governments to impose the lockdown to restrict the virus spread. This halted the sports-related activities for approximately eight months and severely impacted the revenue of the sports medicine market. As the restrictions are getting lifted, we can see more sports-related activities like football and cricket and thus increasing the demand for sports medicine products. However, the fear of the second wave of coronavirus may lead to stricter lockdown in many countries and negatively impacting the market growth rate.
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This research report on the global sports medicine market has been segmented & sub-segmented into the following categories:
By Product:
- Reconstruction and Repair
- Implants
- Prosthetics
- Arthroscopy Devices
- Fracture and Ligament Repair Products
- Orthobiologics
- Support and Recovery
- Braces and Support
- Thermal Therapy Products
- Topical Pain Relief Products
- Compression Clothing
- Monitoring Devices
- Other Body Support and Recovery Products
- Accessories
By Application:
- Head Injuries
- Shoulder Injuries
- Elbow and Wrist Injuries
- Back and Spine Injuries
- Hip and Groin Injuries
- Knee Injuries
- Foot and Ankle Injuries
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
North America dominated the global sports medicine market in terms of revenue in 2019 and is expected to be in the same spot during the forecast period. The presence of well-developed healthcare infrastructure, along with technologically advanced equipment, is responsible for the market dominance of this region. The high spending capacity of people allows them to spend more on sports medicine equipment and increase demand.
Europe region had the second largest market share and is expected to grow at a healthy rate during the forecast period. Increasing sporting culture, coupled with advanced healthcare facilities, are the main growth driving factors of this market. An increase in government initiatives to promote sports medicine culture will further propel the market growth.
The Asia Pacific had the third-largest market share in 2019 and is expected to grow at the highest rate among all other regions. The growing culture of playing sports and the growing acceptance of sports medicine is the main growth increasing factor during the forecast period. The increasing population of India and China are also increasing the demand for sports medicine equipment. Relatively easy guidelines will also help this market to get more product approvals.
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PROMISING COMPANIES IN THIS MARKET
Key market participants leading the global sports medicine market profiled in this report are Smith & Nephew PLC, Arthrex, Inc., össur hf, Stryker Corporation, Conmed Corporation, Zimmer Biomet Holdings, Inc., Breg, Inc., Mueller Sports Medicine, Inc., Tornier, Inc., Skins International Trading AG, Wright Medical Technology, Inc., DePuy Mitek, Inc., 3M Company Ace Brand, OttoBock Healthcare GmbH and DJO Global, Inc.
List of Tables and Figures of the report:
- Global Sports Medicine Market, By Region, From 2020 to 2025 (USD Billion)
- Global Sports Medicine Market, By Product, From 2020 to 2025 (USD Billion)
- Global Reconstruction and Repair Products Market, By Region, From 2020 to 2025 (USD Billion)
- Global Support and Recovery Products Market, By Region, From 2020 to 2025 (USD Billion)
- Global Sports Accessories Market, By Region, From 2020 to 2025 (USD Billion)
- Global Sports Medicine Market, By Application, From 2020 to 2025 (USD Billion)
- Global Head Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Shoulder Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Elbow & Wrist Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Back & Spine Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Hip & Groin Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Knee Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Foot & Ankle Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Other Injuries Market, By Region, From 2020 to 2025 (USD Billion)
- Global Reconstruction and Repair Products Market, By Type, From 2020 to 2025 (USD Billion)
- Global Implants Market, By Region, From 2020 to 2025 (USD Billion)
- Global Prosthetics Market, By Region, From 2020 to 2025 (USD Billion)
- Global Arthroscopy Devices Market, By Region, From 2020 to 2025 (USD Billion)
- Global Fracture and Ligament Repair Products Market, By Region, From 2020 to 2025 (USD Billion)
- Global Orthobiologics Market, By Region, From 2020 to 2025 (USD Billion)
- Global Support and Recovery Products Market, By Type, From 2020 to 2025 (USD Billion)
- Global Braces and Support Market, By Region, From 2020 to 2025 (USD Billion)
- Global Thermal Therapy Products Market, By Region, From 2020 to 2025 (USD Billion)
- Global Topical Pain Relief Products Market, By Region, From 2020 to 2025 (USD Billion)
- Global Compression Clothing Market, By Region, From 2020 to 2025 (USD Billion)
- Global Monitoring Devices Market, By Region, From 2020 to 2025 (USD Billion)
- Global Other Body Support and Recovery Products Market, By Region, From 2020 to 2025 (USD Billion)
- 110+ More
Browse Regional Reports:
- North America Sports Medicine Market
- Europe Sports Medicine Market
- Asia Pacific Sports Medicine Market
- Latin America Sports Medicine Market
- MEA Sports Medicine Market
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