LONDON, May 04, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the sports medicine market identifies the sports medicine market share to grow at a compound annual growth rate (CAGR) of more than 7% from $7 billion in 2022 to $7.6 billion in 2023. The market size is further expected to reach $10 billion in 2027, at a CAGR of more than 7%. North America was the largest region in the global sports medicine market in 2022.
The rising number of sports injuries, caused by a direct impact, overuse, or force application, is one of the factors driving the growth of the sports medicine market.
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Product innovations are a key trend in the sports medicine market, with major companies focused on developing new technological solutions to strengthen their position.
In 2021, Smith & Nephew Inc. launched a new 4K surgical imaging technology called 4KO, while Zimmer Biomet Holdings Inc. acquired A&E Medical Corporation in 2020 for $250 million to expand its portfolio and address patient and surgical needs.
The top sports medicine companies include Stryker Corporation, Arthrex Inc., Wright Medical Technology Inc., Zimmer Biomet Holdings Inc., Smith & Nephew plc, Mueller Sports Medicine, Inc., Karl Storz SE & Co. KG, CONMED Corporation, Johnson & Johnson, DJO Global, Breg, Inc., RTI Surgical, Inc., Performance Health International Limited, Bauerfeind AG, Ossur Corporate, and Cramer Product Inc.
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The global sports medicine market is segmented as
1) By Product: Implants, Fracture And Ligament Repair Products, Arthroscopy Devices, Prosthetics, Other Products
2) By Injury Type: Knee Injuries, Shoulder Injuries, Foot And Ankle Injuries, Back And Spine Injuries, Hip And Groin Injuries
3) By End User: Hospitals, Ambulatory Surgery Centres, Physiotherapy Centres And Clinics
With the market expected to grow consistently, the sports medicine market report highlights high growth segments and regions that businesses should focus on for expansion and investment. The report also offers in-dept insights on consumer behavior, supply chain analysis, and major competitors and their strategies.
Sports Medicine Global Market Report 2023 by The Business Research Company provides insights on the sports medicine market size, sports medicine market segments, sports medicine market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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