Global Sports Medicine Market was valued at USD 5.8 billion in 2020 which expected to reach USD 11.21billion by 2027 at a CAGR 6.7% from 2020-2027.
Sports injuries are fractures or wounds which are caused due to exercise or sports activities. Also, the absence of warm up exercise increases the risk of sports injuries like. Injuries like ankle sprains, fractures, knee & shoulder injuries, tendonitis and many more are treated by sports medicine specialists.
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The major vendors in the global sports medicine market include Zimmer Biomet, Wright Group N.V., Arthrex, Inc., Smith and Nephew, Stryker, Medtronic, DJO Global, Mueller Sports Medicine, Conmed, Depuy Synthes Companies, etc.
Globally, the incidences of sports injuries have raised over the past few years, due to the rise in sports participation as well as active participation in fitness activities. Also, the incidence of ligament tears & fractures is high among people participating in sports. The lower extremity constitutes a main portion of sports injuries across the globe. However, high cost of orthopaedic implants and other devices is expected to hamper the growth of global sports medicine market throughout the forecast period.
Impact of COVID-19 on Market
The COVID-19 pandemic has upended many lives & businesses on an unprecedented scale. Due to the spread of COVID-19, most organized sports activities have been on hold or postponed. For instance, in March 2020, the International Olympic Committee had postponed the 2020 Tokyo Olympics and Paralympic to 2021. Thus, the growth of global sports medicine market is halted due to the COVID-19 pandemic but it is anticipated to be restored once the situation stabilizes.
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By Product Type
- Body Reconstruction & Repair
- Surgical Equipment
- Soft Tissue Repair
- Bone Reconstruction Devices
- Body Support & Recovery
- Braces and Other Support Devices
- Compression Clothing
- Hot & Cold Therapy
- Body Monitoring & Evaluation
- Ankle & Foot
- Back & Spine
- Elbow & Wrist
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
The Global Sports Medicine Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The APAC region is expected to witness the fastest growth over the forecast period as the adoption rate of sports medicine in countries like Japan, China, and South Korea is increasing continuously. Furthermore, the regulatory process for product approvals is comparatively less stringent in these countries, which expected to support the sports medicine market in this region.
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