Global Sports Medicine Market Size & Share to Surpass $11.2 Billion by 2030 | Vantage Market Research

WASHINGTON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research, the Global Sports Medicine Market is estimated to be valued at USD 11.2 Billion by 2030 at an exponential growth of 6.2% in the next seven years.

The demand for Sports Medicine has grown in recent years due to increased sports-related injuries and the number of persons participating in fitness-related activities and sports.

The Report Provides Insights on the Following Pointers

1. Market Penetration: Provides comprehensive information on the market offered by the key players.
2. Market Development: Provides in-depth information about lucrative emerging markets and analyses penetration across mature segments of the markets.
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments.
4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation.
5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The market is additionally anticipated to be driven by a gradual transition in managing sports injuries from proactive to preventative care. The most recent projections from the CDC state that in 2020, 54.1% of American children between the ages of 6 and 17 were involved in sports. Furthermore, according to data from Stanford Medicine Children's Health, almost 3.5 million injuries to people in the United States who are 14 years of age or under are recorded each year. Sports Medicine products are in great demand due to the rising number of injuries and the growing prevalence of engagement in sports among youth.

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Factors Affecting the Growth of the Sports Medicine Industry

Some factors impact the development of the Sports Medicine Market. Some of these factors include:

• The rising sports injuries emphasize the urgency for improved safety measures and training to ensure athlete well-being.
• Minimal invasive surgeries like laparoscopic procedures are in high demand due to their benefits over open surgeries. At the same time, sports medical centers cater to athletes and offer specialized services for sports injury treatment, rehabilitation, and performance enhancement.
• More people are participating in thrilling sports such as skydiving and rock climbing, leading to a rise in the popularity of extreme sports.
• The accessibility and availability of the tools and equipment required in healthcare environments, such as hospitals or clinics, to support medical treatments is referred to as the availability of medical instruments.

Key Highlights

• By the segmentation Device Type, the Surgery Devices segment accounted for the most enormous market growth in 2022.
• By Application segment, the Knee category dominated the market in 2022.
• By the End User segment, the Hospital category led the market in 2022.
• The market was ruled by North America in 2022, with a revenue share of 48.5%.
• The Asia Pacific region is expected to witness maximum market growth during the forecast period.
  
  

Prominent Players in The Global Sports Medicine Market Report Scope:

• Smith & Nephew (UK)
• Stryker Corporation (U.S.)
• Zimmer Biomet (U.S.)
• Arthrex GmbH (U.S.)
• Enovis (U.S.)
• DJO Global (U.S.)
• CONMED Corporation (U.S.)
• Mueller Sports Medicine Inc. (U.S.)
• Breg Inc. (U.S.)
• Performance Health Holding Inc. (U.S.)
• Bauerfeind AG (Germany)
• Karl Storz SE & Co. KG (Germany)
• DePuy Synthes (Johnson & Johnson) (U.S.)
  
  

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Key Trends

• Increasing technological advancements refer to the continuous development and improvement of technology, such as introducing new gadgets, software, and innovative solutions that simplify and enhance various aspects of human life. For example, the introduction of smartphones revolutionized communication by enabling people to connect with others anytime and anywhere.
• Multiple new product innovations introduce fresh and creative products into the market to meet consumer demands and enhance business growth. For example, a technology company is simultaneously releasing a new smartphone, smartwatch, and wireless earbuds.
• The company invested in ongoing research and development to develop advanced technologies, such as a new artificial intelligence algorithm that improves customer service efficiency.
  
  

Key Strategies in the Sports Medicine Market

The Sports Medicine market is highly competitive and constantly evolving, with new technologies and treatment methods being developed. Some key strategies in this market include:

• Companies invest in continuous research and development to stay up to date with the latest advancements in Sports Medicine.
• Companies establish strategic partnerships with sports teams, athletic clubs, and medical institutions to gain exposure and build trust in the market.
• Companies focus on building a strong brand image that emphasizes their expertise and credibility.
• Companies emphasize the importance of education and training for healthcare professionals and athletes to organize workshops, seminars, and conferences to disseminate knowledge about Sports Medicine advancements, injury prevention techniques, and rehabilitation protocols.
• In an effort to reach a greater number of consumers, businesses are increasing their footprint in emerging markets.
  
  

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Recent Development of the Global Sports Medicine Market

• In 2022, DJO Global renewed its partnership with the Professional Football Athletic Trainers Society (PFATS). The Professional Football Athletic Trainers Society (PFATS) is a professional football athletic trainers’ organization. PFATS will recommend and approve specific DJO products as part of its collaboration with DJO.
• In March 2021, Arthrex introduced the first patient-focused educational website, AnkleSprain.com, dedicated to ankle sprain treatment. This has helped the company to create awareness among people regarding ankle sprain, thereby positively impacting the company's clientele.
• In June 2021, DJO LLC acquired Mathys AG Bettlach. Products such as implants for artificial joint replacement and other Sports Medicine solutions were added to DJO’s product portfolio. The acquisition helped the company to develop and deliver the next-generation orthopedic products to sustain its market position along with gaining a competitive edge over others.
  
  

Sports Medicine Market Segmentation

By Device Type

• Surgery Devices
• Bone Reconstruction Devices
• Body Support Devices
• Other Device Types

By Application

• Knee
• Head & Neck
• Shoulder
• Ankle & Foot
• Wrist & Elbow
• Other Applications

By End User

• Hospitals
• Specialty Clinics

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
  
  

Browse market data Tables and Figures spread through 250 Pages and in-depth TOC on Sports Medicine Market Forecast Report (2023-2030).                       

Highlights from Segments

Device Type Analysis

• The surgery Devices segment accounted for the most significant market growth in 2022.
• The rise in sports-related injuries has led to a significant increase in the demand for surgery devices used in their treatment and repair.
• Increasing interest and participation in sports activities have driven the demand for surgery devices, especially in professional sports leagues where players seek expedited recovery and return to the field.
  
  

Application Analysis

• Knee application accounts for the potential market growth in 2022 owing to the availability of multiple treatment options and the rising number of knee injuries.
• Knee injuries are frequently observed during sports or other physical activities, where the repetitive motions of running and jumping cause damage to the knee joint. Several advanced treatment methods are available to address these issues, including dry needling, soft tissue massage, osteopathic manipulation, platelet-rich plasma therapy, and arthroscopic surgeries.

End User Analysis

• The hospital segment accounted for the potential market growth in 2022 owing to the increasing number of sports-related injuries, a growing awareness of the importance of Sports Medicine, and advancements in healthcare infrastructure.
• According to the CDC, more than 8.6 million sports- and recreation-related injuries occur annually in the United States alone. This has created a need for specialized medical care and treatment, leading to the expansion of Sports Medicine services in hospitals.

Regional Analysis

• North America led the Sports Medicine market growth in 2022. Technological advancements, an increasing prevalence of sports injuries, and awareness initiatives drive market growth.
• The Brain Injury Research Institute estimates that between 1.6 and 3.8 million concussions linked to sports and recreation occur in the US each year. This factor is likely to contribute to a growing demand for Sports Medicine.
• As sports injuries continue to rise, more individuals seek medical treatment at hospitals and doctors, leading to a higher demand for Sports Medicines.
  
  

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