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.
Market Restraints and Challenges
The market’s expansion is significantly constrained by the high cost of implant materials. In nations like India, where only a small percentage of the population has access to health insurance, a pricey implant poses a serious threat to the market’s expansion. Since orthopedic surgeons undertake the majority of operations for sports injuries, a major barrier for the business is a lack of educated orthopedic doctors.
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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.
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