Latin America Sports Medicine Market - 2024-2031

Report Overview

The Latin America sports medicine market reached US$ 382 million in 2023 and is expected to reach US$ 730.96 million by 2031, growing at a CAGR of 8.7% during the forecast period 2024-2031.

Sports medicine is largely concerned with the prevention and treatment of sports-related injuries and illnesses. Sports injuries improve the sportsperson's performance, provide injury treatment, and provide preventive measures such as rehabilitation and osteopathy. It includes implants, fracture and ligament repair items, prostheses, body support and recovery products, compression clothes, braces and supports, physiotherapy equipment, thermal treatment, electrostimulation, and accessories.

In addition to its instantaneous impact on athletes, sports medicine benefits others as well by encouraging physical exercise and healthy lifestyles. Sports medicine experts advocate for exercise as a critical component of general health, addressing concerns such as obesity and cardiovascular disease. Their work encourages people of all ages to participate in physical activity and sports safely, establishing an atmosphere that is healthy and improving quality of life.

Market Dynamics: Drivers

Increasing prevalence of sports injuries

The rising prevalence of sports injuries propels the market growth. For instance, according to an article published by the National Institute of Health, from 41 athletes who played for the Brazil National Volleyball team during the analyzed period, 12 athletes had 28 injuries and 38 athletes reported 402 complaints. For injuries, an incidence of seven injuries/1,000 h of competition and two injuries/1,000 h of training was observed.

The average recovery time of the athletes was 10 days. The regions with the highest prevalence of injuries were the knee (111/1,000 athletes) and ankle (69/1,000 athletes). For complaints, 402 complaints required 1,085 treatment sessions, with the regions with the highest prevalence of complaints being the knee (261/1,000 complaints) followed by the shoulders (236/1,000 complaints). Athletes aged above 23 years and those playing as middle blockers and outside hitters presented a higher prevalence of injuries and complaints.

In a survey conducted for school students, thirty-one percent of the participants reported sustaining an injury serious enough to cause a full day away from usual activities such as school attendance or requiring treatment by a healthcare professional during the past year. The breakdown by gender was 39% of boys and 24% of girls (p<0.001). The most common cause of the most serious injury during the year was playing or training for a sport (53%), and this was observed to be the case for both boys (58%) and girls (45%).

Restraints

Factors such as shortage of skilled professionals are expected to hamper the market. First and foremost, a shortage of trained practitioners, such as sports physicians, physiotherapists, and athletic trainers, limits player's access to specialist care. This shortage can cause delays in diagnosis and treatment, affecting athlete's performance and recovery durations. As a result, the overall quality and effectiveness of sports medicine services might decline, obstructing the value provided to both professional and amateur athletes.

Market Segment Analysis

The Latin America sports medicine market is segmented based on product, application, and end-user.

The segment body support and recovery accounted for approximately 45.8% of the Latin America sports medicine market share.

The body support and recovery segment is expected to hold the largest market share over the forecast period. In this segment, technological developments would drive this market. In sports medicine, recovery is the process of returning the body to its normal physiological and psychological state after exercise or injury. Recovery is important because it helps athletes avoid fatigue and muscle soreness that could impact their performance.

Physical restoration includes recovering muscles, the elastic system, and other systems like the cardiovascular, hormonal, immune, metabolic, and nervous systems. Body support involves braces. For instance, in July 2024, Smith & Nephew announced that it received FDA 510(k) clearance for its new Catalystem primary hip system. The company developed it using global data sets across femoral morphologies, helping to deliver a precision fit. The system features a triple-taper stem design with uniform proximal loading. Its reduced distal stem geometry and shorter lengths help with the anterior approach but can extend to all approaches.

Market Segmentation

By Product

Body Reconstruction and Repair

Bone Reconstruction Devices

Soft Tissue Repair

Body Support and Recovery

Braces and Other Support Devices

Hot & Cold Therapy

Body Monitoring and Evaluation Devices

Musculoskeletal

Cardiac

Others

Accessories

Bandages

Disinfectants

Others

By Application

Ankle & Foot Injuries

Back & Spine Injuries

Elbow & Wrist Injuries

Hip Injuries

Others

By End-User

Hospitals

Specialty Clinics

Others

Market Competitive Landscape

The major players in the Latin America sports medicine market include Smith & Nephew Plc., Stryker Corporation, Zimmer Biomet, Arthrex Inc., Johnson & Johnson Services, Inc., Enovis Corporation, Biomecanica Group, Baumer, Neoortho, Ortosintese among others.

Key Developments

In August 2024, Johnson & Johnson MedTech announced that DePuy Synthes, the orthopaedics company of Johnson & Johnson, has launched its TriLEAP(TM) Lower Extremity Anatomic Plating System, a comprehensive system with low-profile, procedure-specific titanium plates, designed for foot and ankle surgeons. The TriLEAP(TM) System covers a wide range of forefoot and midfoot reconstructive and trauma procedures for the fixation and fusion of bones and bone fragments in adults and adolescents.

Why Purchase the Report?

To visualize the Latin America sports medicine market segmentation based on product, application, and end-user as well as understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development

Excel data sheet with numerous data points of Latin America sports medicine market level with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping is available in Excel consisting of key products of all the major players.

The Latin America sports medicine market report would provide approximately 51 tables, 54 figures, and 181 Pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies