Global Sports Medicine Market Flourishes Relentlessly; Asserts MRFR Unleashing Industry Forecast Up To 2030

Market Research Future (MRFR) has published a cooked research report on the “Global Sports Medicine Market” that contains information from 2018 to 2030. The Sports Medicine market is estimated to register a CAGR of 7.40% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Sports Medicine market— Arthrex, Inc., Smith & Nephew, Stryker, CONMED Corporation, Zimmer Biomet, Johnson & Johnson Services, Inc., KARL STORZ SE & Co. KG and Other players

Sports Medicine Market Highlights

The global Sports Medicine market is accounted to register a CAGR of 7.40% during the forecast period and is estimated to reach USD 9,655.6 Million by 2030.

The sports medicine market refers to the sector focused on the prevention, treatment, and rehabilitation of sports-related injuries and conditions. It includes diagnostic tools, therapeutic devices, medications, and surgical procedures tailored to athletes and active individuals. The market addresses the specific healthcare needs and performance optimization of individuals engaged in sports and physical activities.

Segment Analysis

The global Sports Medicine market has been segmented based on Device Type, Application and End User.

On the basis of offerings, the market is segmented into surgery devices, bone reconstruction devices, body support devices, and others. The body reconstruction devices market is expected to rise as a result of factors like technological advancements in implants, increased arthroscopy use, ligament repair goods, and fracture products.

Based on Communication Protocol, the global Sports Medicine market has been segmented into knees, head & neck, shoulder, ankle & foot, wrist and elbow and others. During the projection period, the knee segment is anticipated to rise at a high CAGR, holding the majority of the market share in 2018. The need for minimally invasive procedures is expected to rise along with the amount of knee injuries, which are some of the main factors expected to drive the segment's growth.

Based on End User, the global Sports Medicine market has been segmented into hospitals and specialty clinics. Some of the factors contributing to the expansion of the hospital segment include the availability of cutting-edge medical technology, qualified healthcare workers, and an increase in sports injuries in both developed and developing countries.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Sports Medicine Market Research Report

Regional Analysis

The global Sports Medicine market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Sports Medicine market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Sports Medicine market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Sports Medicine market comprises of Middle East, Africa, and Latin America.

North America brought in USD 2.60 billion in revenue in 2018 and is predicted to expand at a moderate CAGR during the projected period. During the forecast period, the regional market is expected to grow at a faster rate than Europe due to the rising number of orthopaedic centres, rising participation in sports and physical activity, and growing investments in the development of sports-related medicine treatment devices.

During the projection period, Asia Pacific is expected to grow more rapidly than other regions. It is projected that growing demand for these medications from developing nations like China, India, and Japan will accelerate the growth of the market in the area. Additionally, the Asia Pacific Knee, Arthroscopy and Sports Medicine Society (APKASS) hosts yearly conferences for medical professionals with the goal of updating information, fostering education, and raising awareness of the most recent advancements in this field of medicine. These elements are projected to raise the need for sports medicine equipment and the adoption of athletic careers, hence increasing market revenue.

On the other hand, due to the rising engagement in sports and physical activities from nations like Brazil, the Middle East, Africa, and Latin America are predicted to expand at a considerable CAGR throughout the projected period of 2019–2026.

Key Findings of the Study

·         The global Sports Medicine market is expected to reach USD 9,655.6 Million by 2030, at a CAGR of 7.40% during the forecast period.

·         North America brought in USD 2.60 billion in revenue in 2018 and is predicted to expand at a moderate CAGR during the projected period

·         Based on application, Knee segment dominated the market share in 2018 and is expected to grow at significant CAGR during the forecast period.

·         Arthrex, Inc., Smith & Nephew, Stryker, CONMED Corporation, Zimmer Biomet, Johnson & Johnson Services, Inc., KARL STORZ SE & Co. KG and Other players