Sports Medicine Market Exhibit a CAGR of 5.1% with Future Strategies, Competitive Outlook, Industrial Demand and Opportunities by 2029 | Exactitude Consultancy

Sports Medicine Market key players include Arthrex Inc., CONMED corporation, DJO global, Johnson & Johnson, Mueller Sport Medicine, Orthofix International N.V, Smith & Nephew Plc., Stryker Corporation, Wright Medical group, and Zimmer Biomet Holdings Inc

Luton, Bedfordshire, United Kingdom, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Sports Medicine Market.

Sports Medicine Market is to grow at 5.1 % CAGR and expected to surpass USD 13.34 billion by 2029.

The rise in sports injuries, the constant infusion of new goods and treatment options, advancements in regenerative medicine, and the increased need for minimally invasive operations are the main drivers of market growth in the sports medicine Market.

Sports injuries are occurring more frequently, and individuals are participating in more sports and fitness-related activities, which is boosting the demand for sports medicine. The sports medicine market is also anticipated to grow over the projected period as proactive treatment for sports injuries gives way to preventive care. Due to an increase in sports injuries, body reconstruction products have taken over the type segment of the sports medicine market. This is because players need to take care of their body parts during sport activities and maintain them over the long term.

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Recent Developments

  • In June 2021, DJO announced the acquisition of Mathys AG Bettlach, anorthopedic implants developer in Switzerland. This acquisition assists the company in developing and delivering next-generation orthopedic innovations.
  • In June 2020, Smith & Nephew received the CE mark approval for Regeneten Bioinductive Implant, thus allowing its sale in key European markets.
  • In March 2019, Arthrex partnered with Clemson University, US, with the aim of providing 10 scholarships worth USD 7500 each, for students who will take courses and internships specifically tailored to the needs of the surgical device industry
  • In August 2018, DePuy Synthes entered in an agreement with SERF (Société d’Etude, de Recherche et de Fabrication), France, in order to strengthen its hip portfolio by adding a dual-mobility acetabular cup in hip implants.

Report AttributeDetails
Revenue forecast in 2029USD 13.34 billion
Growth RateCAGR of 5.1 % from 2022-2029
Base year for estimation2021
Historical data2017-2020
Forecast period2022-2029
Quantitative unitsRevenue in USD million and CAGR from 2020 to 2027
Report coverageRevenue forecast, company share, competitive landscape, growth factors and trends
Segments coveredProduct type, application, region
Regional scopeNorth America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scopeU.S.; Canada; Germany; U.K.; Germany; Greece; France; Italy; Poland; Japan; China; India; South Korea; Thailand; Mexico; Argentina; Brazil; Colombia; South Africa; Saudi Arabia
Key companies profiledArthrex, Inc.; Smith and Nephew; Stryker; Zimmer Biomet; Wright Group N.V.; DJO Global.
Customization scopeFree report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase optionsAvail customized purchase options to meet your exact research needs. Inquire for Discount

Sports Medicine Market Players

The major players operating in the sports medicine market are Arthrex Inc., CONMED corporation, DJO global, Johnson & Johnson, Mueller Sport Medicine, Orthofix International N.V, Smith & Nephew Plc., Stryker Corporation, Wright Medical group, and Zimmer Biomet Holdings Inc.

Sports Medicine Market Segmentation

Sports Medicine Market by Product, 2020-2029

  • Body Reconstruction
  • Body Support & Recovery Products
  • Body Monitoring and Evaluation Devices
  • Accessories

Sports Medicine Market by Application, 2020-2029

  • Ankle & Foot Injuries
  • Knee Injuries
  • Shoulder Injuries
  • Back & Spine Injuries
  • Elbow & Wrist Injuries
  • Hip Injuries
  • Others

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Development of Technologically Advanced Treatment Devices in The Region Will Drive the Market Statistics

In 2021, the North American sports medicine market accounted for almost 35% of total revenue. Rapid product uptake will occur across the region as a result of the presence of key market participants, favourable reimbursement situations, an increase in medical facilities, and expanding investments in the development of sports medicine. Additionally, one of the main factors influencing the size of the regional market is the well-developed healthcare infrastructure along with the rising usage of technologically advanced technologies to treat sports injuries. 

For instance, Stryker Corporation installed almost 650 Mako surgical robots globally in 2018 and completed more than 76,900 robotic hip and knee replacement surgeries. The regional industry projections will be fueled by an increase in government initiatives as well as increased investment for research and development of cutting-edge treatment solutions.

Sports Medicine Market Trends

The increasing use of wearable technology, such as fitness bands, to track athletes' stress levels and prevent athlete fatigue and injury issues has contributed to the market's growth.

Due to an increase in sports injuries and the number of people engaging in athletic and fitness activities, there is a rising demand for sports medicine. The market is expected to grow over the forecast period as a result of the switch from a strategic approach to preventative care for sports-related injuries.

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 orthopaedic surgeons undertake the majority of operations for sports injuries, a major barrier for the business is a lack of educated orthopaedic doctors.

Additionally, it is anticipated that during the forecast period, a rise in public-private funding for focused research, an increase in children's participation in sports, and an increase in innovation and development as a result of technological advancements globally will present lucrative opportunities for market participants.

Key Benefits for Stakeholders

  • The study provides an in-depth analysis of the sports medicine market size along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers Sports Medicine Market analysis from 2022to 2029, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
  • A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
  • The profiles and growth strategies of the key players are thoroughly analysed to understand the competitive outlook and global sports medicine market growth.

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