The global sports medicine market was valued at USD 5.5 Billion in 2021 and it is anticipated to grow further till USD 10.8 Billion by 2031, at a CAGR of 7.0% during the forecast period.
An area of medicine called sports medicine is concerned with enhancing patients’ athletic prowess. Products for sports medicine help with both the healing of sports injuries and the prevention of new ones.
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Market Trends and Drivers
Growing government involvement in promoting and encouraging sports activities, along with growing public awareness of personal health, is anticipated to drive the global market statistics. Increased participation in sports could result in an increase in the frequency of sports injuries.
The National Safety Council (NSC) reports that more than 400,000 injuries resulting from sports-related activities occurred in the United States in 2019. In addition, technological developments in the orthopaedic field, such as the 3D printing of implants and the introduction of bionic technology and sensor technology in prosthetic limbs, will provide the sports medicine industry with previously unheard-of growth opportunities over the forecast period.
Major Players in the Global Sports Medicine Market
The report analyses the major players such as Stryker Corporation, Arthrex, Wright Medical Technology, Otto Bock Healthcare, Zimmer Biomet, Smith & Nephew, Breg, Inc, Muller Sports, Inc, RTI Surgical, Performance Health International Limited, KARL STORZ, Bauerfeind AG, CONMED Corporation, Johnson & Johnson, Ossur Corporate, Cramer Product, Inc, Anika Therapeutics, Inc, and DJO Global among others.
COVID-19 Impact
Due to the postponement and cancellation of numerous sporting events during the COVID-19 epidemic, which decreased the number of sports injuries, the market for sports medicine suffered. The Tokyo Olympics and Paralympics were postponed by the International Olympic Committee to 2021 in March 2020. These occurrences had a negative effect on market expansion. Only urgent and critical surgical operations were to be addressed at this time by medical professionals and specialists.
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Global Sports Medicine Market Segmental Overview
By Product
- Body Reconstruction Products
- Body Support and Recovery Products
- Accessories
By Application
- Knee Injuries
- Shoulder Injuries
- Foot & Ankle Injuries
- Elbow & Wrist Injuries
- Back & Spine Injuries
- Hip & Groin Injuries
- Others
By End User
- Hospitals
- Ambulatory Surgery Centers
- Physiotherapy Centers & Clinics
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