Sports Medicine Devices Market Size Worth $13.76 Billion by 2032: The Brainy Insights

The sports medicine devices market size is anticipated to grow from USD 6.80 Billion in 2022 to USD 13.76 Billion in 10 years. The market ought to witness a positive growth rate owing to increasing incidences of sport’s related accidents and injuries across developed and developing nations.

Newark, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global sports medicine devices market will grow from USD 6.80 Billion in 2022 to USD 13.76 Billion by 2032. Europe region is expected to grow substantially over the years. Europe is a significant player in the global sports medical equipment market due to its strong emphasis on physical wellness promotion and its long history of sports culture. Several factors, such as the variety of sports available, professional sports leagues, and the emphasis on sports science and medicine, contributed to Europe's market share. A major focus on injury prevention and sports performance optimization contributes to the regional market share. As a result, orthopaedic devices, compression clothing, and special footwear have become widely used as body support and rehabilitation tools. The emphasis on evidence-based procedures and a comprehensive approach to patient treatment define the European sports medicine market. This strategy includes assessing and improving sports performance through monitoring and assessment tools, such as wearable technology and diagnostic imaging.

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Report Coverage Details

Report CoverageDetails
Forecast Period2023-2032
Base Year2022
Market Size in 2022USD 6.8 Billion
Market Size in 2032USD 13.76 Billion
No. of Pages in Report235
Segments CoveredType, Application
DriversGrowing Awareness of Sports-Related Injuries
OpportunitiesIncreasing Global Health Expenditure
RestraintsHigh Costs Associated

Key Insight of the Sports Medicine Devices Market

Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.

During the forecast period, Asia-Pacific is expected to grow at the highest CAGR within the global Sports medicine devices market. The Asia-Pacific region would significantly expand. Emerging nations such as China, India, Japan, and South Korea are prominent countries in the Asia Pacific region. The vast and mixed population of Asia Pacific, which includes a sizable youth population that actively participates in sports and physical activities, impacts the region's market share for sports medical equipment. The need for sports medicine solutions is strengthened by growing awareness of sports-related injuries and the significance of prompt therapies. In Asia Pacific, orthopaedic devices, especially those that treat fractures and joint injuries, have a substantial market share. The demand for orthopеdic interventions is driven by the region's changing lifestyle trends, which include a move towards more sedentary activities and an increased incidence of musculoskeletal disorders.

The body evaluation and monitoring segment is expected to grow at the highest CAGR during the forecast period.

The type segment includes body reconstruction and repair, body support and recovery, body monitoring and evaluation and accessories. The body evaluation and monitoring segment is expected to grow at the highest CAGR during the forecast period. Body monitoring and evaluation devices are essential to the sports medicine industry because they give medical practitioners important information about the health of the musculoskeletal system, athletic performance, and injury prevention. Motion analysis systems, wearable technology, and diagnostic imaging equipment are all included in this category. The increasing demand for real-time data in sports medicine, the integration of artificial intelligence, and technological improvements all impact the market share of body monitoring and evaluation equipment. Diagnostic imaging devices like MRIs, X-ray machines, and ultrasound systems account for a substantial market share in body monitoring and assessment. With these tools, medical personnel can precisely identify and visualize musculoskeletal ailments and disorders.

The spine injury segment is expected to grow at the highest CAGR during the forecast period.

The application segment is bifurcated into knee injury, shoulder injury, ankle-foot injury, spine injury, hand-wrist injury, hip-groin injury and arm-elbow injury. The spine injury segment is expected to grow at the highest CAGR during the forecast period. Athletes in various sports may sustain back and spine injuries, which has led to a sizable market share in the sports medical equipment industry. Orthopеdic products, which offer support and stabilization for those with back and spine ailments, like lumbar supports and back braces, add to the market share. Surgical interventions impact the market share by treating specific problems, including spinal instability and ruptured discs. These options include disc replacement surgeries and spinal fusion procedures. Back and spine injury-specific rehabilitation devices—such as traction equipment and therapeutic exercise tools—contribute to the market share by assisting in the healing and strengthening process following surgery. Diagnostic imaging tools, such as CT and MRI scans, are essential for diagnosing cancer because they provide precise diagnosis and treatment options.

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Impact of Covid-19 Pandemic

Globally, the COVID-19 pandemic has significantly affected various industries, and the sports medical device business is no exception. The sports business saw extraordinary disruptions as governments implemented strict controls to stop the virus's spread, which created enormous obstacles and changed the landscape of sports medical products. Sports events, from local competitions to important international tournaments, were scheduled or cancelled as one of the pandemic's initial effects. Sports-related injury rates fall due to players and sports activities being suspended. While a few people sought medical attention and rehabilitation during the pandemic's peak, the market for sports medical devices was severely impacted by the decline in injury rates. Further, delays in essential and non-urgent medical procedures, such as orthopеdic surgery frequently linked to sports injuries, result from the burden on healthcare resources and prioritizing COVID-19-related care. Due to the temporary drop in demand for orthopеdic equipment such as joint implants and soft tissue repair instructions, the medical operations' delay affected the market in a cascading manner.

Market Dynamics

Driver: Integration of Sports Medicine into Mainstream Healthcare

One factor that is revolutionizing the market growth is incorporating sports medicine into general health care. The consequences of sports medicine are now widely used in general health care and are no longer limited to professional athletes. Since it serves various patients, this integration has expanded the market for sports medical devices. Physical therapists, orthopaedic surgeons, and primary care doctors frequently include sports medicine procedures in treatment regimens. The need for sports medicine equipment in various healthcare settings has emerged because sports medicine is widely adopted. High levels of sports participation, sophisticated technology, and robust healthcare systems contribute significantly to marked growth in developed regions like North America and Europe. On the other hand, sports participation is on the rise in developing countries in Asia, Africa, and Latin America, and these regions are gradually realizing the significance of sports medicine. This factor is boosting the market growth and development.

Restraint: Lack of Standardization

One major obstacle to using gadgets and therapies in sports medicine is the need for established practices. Sports organizations and medical practitioners may adhere to different injury prevention, diagnostic, and recovery methods. This lack of uniformity can impair training effectiveness in various circumstances and result in inconsistent use of sports medical devices. Standardization is necessary To provide consistency in the implementation of sports medicine concepts. This enhances the comparability of results and increases the validity of study findings. The need for established protocols presents obstacles for producers seeking to develop sports medicine devices that are broadly applicable and hinders the smooth incorporation of these devices into various healthcare environments. These factors may limit the market growth.

Opportunity: Technological Advancements

Technological developments have had a significant effect on the worldwide market for sports medical devices. More advanced and useful tools and equipment for injury prevention, diagnosis, and treatment have been made possible by these advancements. Modern innovations in wearable technology, technology, 3D printing, artificial intelligence, and others have completely transformed the sports medical sector. For instance, wearable technology can track an athlete's progress and identify injury risks instantly. Athletes may make educated judgments about their training regimens thanks to this data-driven approach, while medical practitioners can act quickly to treat patients. Athletes in isolated locations now have better access to professional medical advice and treatment due to innovations like telemedicine. The market for sports medicine equipment has benefited from the rise in sports sponsorships. Numerous firms and organizations have invested a lot of money in sports-related activities, as sports have grown to be a global phenomenon with large fan bases. These factors are anticipated to provide lucrative growth opportunities in the upcoming years.

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Some of the major players operating in the Sports medicine devices Market are:

• Arthrex Inc.
• Conmed Corporation
• Johnson & Johnson Services Inc.
• Stryker
• Smith+Nephew
• Mueller Sports Medicine Inc.
• Zimmer Biomet
• Wright Medical Group NV
• Orthofix US LLC.
• Karl Storz SE & Co. KG
• RTI Surgical
• Medtronic
• Santen Pharmaceutical Co. Ltd.
• Kubota Pharmaceutical Holdings Co. Ltd.

Key Segments Cover in the Market:

By Type:

• Body Reconstruction and Repair
• Body Support and Recovery
• Body Monitoring and Evaluation
• Accessories

By Application:
• Knee Injury
• Shoulder Injury
• Ankle-Foot Injury
• Back-Spine Injury
• Hand-Wrist Injury
• Hip-Groin Injury
• Arm-Elbow Injury

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is anal yzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.

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