PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1559898
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1559898
The global sports medicine market is expected to reach USD 9.45 Billion by 2029 from USD 6.79 Billion in 2024, growing at a CAGR of 6.8% during the forecast period. The anticipated market growth for sports medicine market is supported by significant progress made in the field. The factors enhancing the demand comprise innovation and improvements in technologies, improved therapeutic efficiency and uptake of major initiatives by government to increase the physical activity of citizens as well as to prevent sports related injuries. The limitations are the high cost of medical devices associated with sports medicine that may restrict many people in need from accessing such therapies.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | By Product, Application, End user, Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
"Body reconstruction products to register largest market share in 2022-2029."
Body reconstruction products include implants, fracture & ligament repair products, arthroscopy devices, prosthetics and orthobiologics. Products for body reconstruction include prosthesis, arthroscopy equipment, implants, fracture and ligament repair supplies, and guthobiologics. Numerous contact sports, including basketball, rugby, and football, entail injuries that necessitate reconstruction, muscle or tendon fix, or replacement of the complete bone or cartilage tissue. To restore strength to large regions, implants may be used in a number of cases to replace missing bone. Furthermore, the injured site may also require the utilization of scaffold reconstruction material and OrthoBiologics. The frequency of fractures and ligament damage has gone up over time. Sports injuries involving the anterior cruciate ligament (ACL) are by far the most frequent. Meniscus, rotator cuff, and cartilage repairs are the three primary surgical techniques for ACL injuries. Repairing meniscals is the most typical process performed on the knee.
"Physiotherapy centers and clinics to register highest growth rate in the market during the forecast period."
Physiotherapy centers offer support and promote health of an individual's lifestyle. Physiotherapists utlizes exercises and help to recover physical and mental well-being. There are various advantages associated with this segment. It can decrease pain, enhance joint movement, give strength, reduce inflammation, and betters cardio-respiratory role of the patient.
"Asia Pacific to register highest growth rate in the market during the forecast period."
The highest CAGR was registered by the APAC region throughout the forecast period from 2024-2029. Asia Pacific comprise India, China, Japan, Australia, South Korea and RoAPAC. The Asia-Pacific region has shown significance growth for sports medicine market. Asia Pacific is projected to grow at a highest rate in sports medicine market for numerous reasons. Most importantly, sports medicine products are in high demand due to increase in participation in outdoor sports activities for professional or recreational purpose. Rise in fundings and increase in participation in different sports events such as Olympics are enhancing the growth of sports medicine market.
Prominent players in this market are Smith & Nephew (UK), DePuy Synthes (US), Stryker (US), Breg, Inc. (US), Conmed Corporation (US), Zimmer Biomet Holdings, INC. (US), Enovis (US), RTI Surgical (US), Performance Health International Limited (US), Bauerfeind AG (Germany), Arthrex, INC. (US), Karl Stprz GMBH & CP. KG (Germany), Mueller Sports Medicine, INC. (US), Ossur (Iceland), Ottobock SE & CO. KGAA (Germany), Biotek (India), Anika Therapeutics (US) among others.
Research Coverage
Products, applications, end users, and regions are the basis for the segmentation. The drivers, constraints, opportunities, and challenges that affect the market's growth are all examined in this study. For stakeholders, the report outlines the prospects and challenges in the sports medicine sector. There are also more specifics on competitive landscapes of key players. This study assesses micro markets in terms of their potential, growth trends, and contributions to the global sports medicine industry. With a focus on five key regions, the report projects a rise in market segment revenues.
The report aims to assist new entrants and top players in the in sports medicine market in understanding the sustainability of investments. It also addresses the availability of comprehensive data for these purposes. These are the main benefits of purchasing the report. It will support thorough risk assessment procedures and investment decision-making. It provides accurate market segmentation, such as that based on end users and geographic factors, providing targeted segments with customized information. Additionally, it assesses the most important trends, difficulties, growth factors, and opportunities related to the same, enabling intelligent judgment and strategic decision-making.
Analysis of the key drivers, restraints, opportunities, and challenges affecting the growth of the sports medicine market: Innovative technology and rise in cases of sports injury; high cost of devices and strict regulations; growing number of hospitals and increased therapies.
Product Development/Innovation: Overview of pipeline technologies, research & development endeavors and introduction of novel product & service for the sports medicine industry.
Market Development: Comprehensive details regarding profitable markets: the study examines the sports medicine business in several geographical areas.
Market Diversification: Thorough understanding of novel products, unexplored regions, current advancements, and investments in the sports medicine market.
Competitive Assessment: Detailed assessment of market share, service offerings leading strategies of key players such as Smith & Nephew (UK), DePuy Synthes (US), Stryker (US), Zimmer Biomet Holdings, INC. (US) and Arthrex, INC. (US).