The global Sports Medicines market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Sports Medicines market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2016-2027.
Key Companies Profiled: Breg Inc., Johnson & Johnson, Medtronic Plc., Wright Medical Group N.V., Mueller Sports Medicine, Inc., Zimmer Biomet Holdings, Inc., CONMED Corporation, Stryker Corporation, Smith & Nephew Plc., Arthrex, Inc.
The global sports medicine market is set to exhibit robust growth expanding at over 7.5% CAGR between 2021 and 2031. With the rise in application in back & spine injuries, shoulder injuries, knee injuries, and others, suppliers of sports medicine are expected to witness lucrative growth opportunities. Also greater focus on personal health and wellness of sportsperson and athletes will result in greater demand for sports medicines in the coming years.
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How Future Outlook on Sports Medicine Sales Compares to Historical Sales?
The increasing prevalence of various sports related injuries such as ankle, shoulder, foot, and others boosted the demand growth of sports medicine over the past years. Despite facing a temporary decline at the onset of the COVID-19 pandemic, overall, the market exhibited significant progress during the last 5 years from 2016 to 2020.
As the sports industry is gaining traction, thanks to sports events organized around the world in accordance with the suggested pandemic protocols, the demand for sports medicines such as body reconstruction, body support & recovery, and accessories, to name a few, is spiralling upward. Furthermore, the rise in investment by manufacturers in research & development (R&D) activities, coupled with the advancement in manufacturing sector, is projected to spearhead the growth of sports medicine suppliers through 2031.
What are the Key Challenges Faced by Sports Medicine Suppliers?
Despite registering high demand, there are a few factors, restraining growth, which are worth the attention of sports medicine providers. These include factors such as high cost of products, limitations regarding the usage of drugs as a composition of the medicines, side-effects caused by the medicines, and complex lifecycle during the production of medicines or other treatment solutions.
Also, the outbreak of COVID-19 pandemic took a toll on the sports medicine manufacturers due to restrictions imposed on organizing sports or recreational activities, closing down of manufacturing hubs during long lock downs, scarcity of labors & raw materials, and overall financial crisis.
However, with the adoption of ‘new-normal’ and increase in focus by manufacturers in product quality improvement are expected to help in overcoming these few restraining factors for market players.
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What’s driving the Sales of Sports Medicine in the United States?
The United States is leading in the world’s largest sports medicine market in North America and set to maintain its lead during the forecast period. Rise in number of sports activities and related injuries are propelling the growth in the U.S.
According to a report titled “Youth Sports Injuries” published by the Science Government, over 38 million U.S. youth participate in organized sports every year, while 54% of children are between ages 6 to 17 years. As stated in the report, the prevalence rate of injuries for youth in basketball, and volleyball are 32.4% and 17.4% respectively in the U.S, while cricket, football, and other ball-related sports account for the rise in rate of sport-related injuries in the U.S. No doubt that manufacturers are eyeing the U.S. in order to increase their sales footprint.
Market Segmentation by Category
- Body Reconstruction
- Body Support and Recovery
- Body Monitoring and Evaluation
- Knee Injuries
- Shoulder Injuries
- Ankle & Foot Injuries
- Back & Spine Injuries
- Elbow & Wrist Injuries
- Hip Injuries
- Other Applications
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- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
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