Due to rising sports injuries and a worldwide trend toward more active lives, the sports medicine industry is growing. As people play sports, demand for sports medicine goods and services including injury prevention, treatment, and rehabilitation rises, impacting market dynamics.
Market dynamics are affected by orthopedic device and arthroscopic technology advances. Sports medicine solutions are used because less invasive treatments, arthroscopic gadgets, and orthopedic implants increase sports injury treatment results.
Increasing sports medical clinics and specialized facilities affect the market. Comprehensive sports medical services are prioritized as healthcare infrastructure grows worldwide. This tendency boosts market expansion and specialized care access.
Market dynamics are changing as sports medicine and digital health integrate. Telemedicine, wearables, and mobile applications provide remote monitoring, injury prevention, and tailored rehabilitation. This technological synergy puts sports medicine at the forefront of digital healthcare.
Market trends favor prevention and performance enhancement. For injury prevention, conditioning, and performance improvement, athletes and fitness enthusiasts are exploring sports medicine solutions. Preventive sports medical services develop with this trend.
Sports medicine's interest in regenerative medicine and biologics affects market dynamics. Market variety and innovation come from tissue repair and regeneration therapies using platelet-rich plasma (PRP), stem cells, and growth factors.
Sports nutrition and rehabilitation products are in demand in sports medicine. Nutritional supplements, braces, and rehabilitation equipment meet athletes' holistic demands for injury healing and performance maintenance, impacting market dynamics.
Sports globalization and growth affect market dynamics. As sports become more popular globally, sports medicine goods and services demand grow. Market companies are expanding into varied regions, boosting worldwide market development and variety.
Sports medicine providers, producers, and organizations collaborate to shape the market. Partnerships with professional athletes and sports teams influence market trends by developing products, promoting sports medical treatments, and boosting exposure.
Education and awareness campaigns on sports medicine impact market dynamics. Training, seminars, and awareness campaigns for athletes, coaches, and healthcare professionals promote sports medical practices and industry development.
Sports injury insurance affects market dynamics. Sports medicine services' pricing and accessibility depend on insurance coverage, impacting market trends and patient choices.
The sports medicine market is regulated and standardized. Manufacturers and service providers must follow these criteria to ensure sports medicine product and practice safety and quality, impacting market dynamics. Regulatory factors affect market entrance and competition.
Sports Medicine Market Size was valued at USD 5.81 Billion in 2023. The Sports Medicine industry is projected to grow from USD 6.48 Billion in 2024 to USD 14.43 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.30% during the forecast period (2024 - 2032).
The market of sports medicine is anticipated to be driven by the growing cases of sports injuries, expansion of medical associations, and on-going technological development. Sports, like baseball and football, are likely to record maximum injuries. Also, the lack of carelessness while practicing the sport is expected to be another cause that is likely to strengthen the market during the assessment period.
However, the unfavorable reimbursement policies and lack of expertise are likely to hamper the market sports medicine market growth during the projection tenure.
Impact of COVID-19
The outbreak of COVID-19 has brought a significant impact on the global market of sports medicine. Various tournaments were suspended owing to the lockdown. For example, the International Olympic Committee postponed the 2020 Olympics and Paralympic to 2021. The expansion of the market has been hampered due to the pandemic. However, the market is likely to stabilize in the future at steady pace.
Smith+Nephew launched a REGENETEN Bioinductive Implant for the healing of rotator cuff tears in Japanese patients in October 2023.
August 2023 saw Smith+Nephew bring the OR3O Dual Mobility System into India for primary and revision hip arthroplasty use.
In March 2023, the U.S. FDA approved Arthrex, Inc.’s application for the TightRope Implant. It is a surgical device used in orthopedic injuries treatment and has been approved for pediatric ACL surgery.
January 2023 was when Enovis (DJO, LLC) introduced DynaClip Quattro and DynaClip Delta bone staples that offer foot and ankle surgeons ease of use & procedural efficiency.
Citrefix—Stryker’s suture anchor system—was developed to mimic native bone structure and chemistry to facilitate natural healing and bone regeneration during foot & ankle surgeries, as announced in December 2022.
The sports medicine market for sports is expected to be influenced by various factors and opportunities.
Drivers
The increasing participation in sports and growing awareness about fitness are likely to be primary causes that can drive the sports medicines market. The rising incidence of ligament tears and fractures are likely to propel the market during the assessment period. The surging demand for injury management and rehabilitation is projected to strengthen the industry across the globe during the assessment tenure.
Opportunities
Developing countries such as; India and China are likely to offer a significant opportunity for market expansion due to the presence of a large patient pool. The market of sports medicine is expected to grow due to the rising disposable income and the growing participation of children and adults in sports activities.
Restraints
One of the primary factors affecting the global market for sports is the dearth of expertise. There is a growing need for skilled professionals with experience and knowledge. The limited number of doctors in sports medicines is one of the major market restraining factors for this sports medicine.
Challenges
Lack of sporting culture, sluggish development of medical associations, and lack of advanced healthcare facilities are some of the salient factors posing a significant challenge to the market expansion during the assessment tenure.
The product-based segments of the sports medicine market are support & recovery products, accessories & consumables, joint reconstructive & repair products, and others.
The application-based segments of the global market for sports medicine are knee treatment, spine treatment, shoulder treatment, hip treatment, and others.
The procedure-based segments of the global market for sports medicine are tendinosis, tendon to bone, and cartilage repair.
The end-user based segments of the global sports medicine market are trauma centers, hospitals & emergency care, ambulatory care, and others.
Regional analysis
North America to Acquire a Significant Market Share during the Forecast Period
The rising popularity of sports and the increasing awareness regarding the treatment of sports injuries are expected to be a significant cause that can grow the regional market during the analysis tenure. The rising investments in North America are expected to augment the sports medicine market size in the region. The presence of technologically advanced medical services to treat various orthopedic injuries are likely to steer the regional trade in the coming period. The US, Canada, and Mexico are projected to make a significant contribution during the review timeframe.
Europe to Procure Second-Largest Market Share During the Forecast Period
Europe is predicted to acquire the second-largest market share during the forecast period owing to the growing inclination towards sports. The increasing initiatives taken by the government to develop the sports medicine devices market are projected to augment the market during the forecast period.
APAC to Expand at the Highest CAGR During the Forecast Period
The growing demand for sports medicine devices from developing countries such as; India, China, and Japan are expected to play a crucial role in developing the regional market during the assessment tenure. Furthermore, the regulatory process for product approvals is comparatively less stringent in these countries, which has eased the entry of new products, thereby augmenting the market in the assessment timeframe.
MEA to Witness Sluggish Growth During the Forecast Period
MEA is predicted to witness sluggish growth during the forecast period owing to the presence of underdeveloped countries and a lack of sports culture. However, there are various untapped market opportunities that are likely to offer lucrative opportunities for sports medicine market expansion.
Latin America to Experience Steady Growth During the Review Period
Latin America is anticipated to thrive at a significant CAGR during the evaluation tenure due to the rising inclination towards sports. Brazil is projected to be a lucrative sports medicine market in the assessment period.
Competitive Landscape
The established players of the global sports medicine market are adopting various strategies of expansion, such as; collaboration, merger, acquisition. The growing inclination towards sports has led to a higher demand for innovative and effective methods to heal the injury, for which key players are focusing on expanding their reach. The growing initiatives of expansion are likely to intensify the market competition the coming time.
List of Key Companies Covered in this Report
Recent Developments
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