REPORT SCOPE & OVERVIEW
In 2022, The Sports Medicine Market size amounted to USD 5.22 Billion & is estimated to reach USD 9.66 Billion by 2030 and increase at a compound annual growth rate of 8.0% between 2023 and 2030.
The Sports Medicine Market refers to the industry involved in the diagnosis, treatment, prevention, and rehabilitation of sports-related injuries and conditions. It encompasses a wide range of medical services, products, and technologies aimed at optimizing the performance and well-being of athletes and active individuals. This market is driven by the increasing participation in sports and physical activities, as well as the growing awareness of the importance of maintaining health and preventing injuries in athletes of all levels. Medical Services is including specialized medical care provided by sports medicine physicians, orthopedic surgeons, physical therapists, and other healthcare professionals. These professionals diagnose and treat various injuries such as sprains, strains, fractures, joint issues, and more. Rehabilitation and Physical Therapy are Rehabilitation is a critical aspect of sports medicine, involving personalized exercise programs, stretching, and techniques to help athletes regain strength, flexibility, and function after injuries or surgeries. Diagnostic Equipment and Imaging are Technologies like X-rays, MRI (Magnetic Resonance Imaging), CT scans, and ultrasound are crucial for accurately diagnosing sports-related injuries and conditions. Orthopedic Devices and Equipment is including braces, splints, casts, crutches, and other devices that aid in the recovery and stabilization of injuries. Topical Pain Relief Products is Creams, ointments, and gels designed to alleviate pain and inflammation caused by sports injuries. Surgical Procedures are for severe injuries that require surgical intervention, orthopedic surgeons specialize in repairing and reconstructing damaged tissues, such as ligaments, tendons, and bones.
Sports Performance Enhancement is involving products and services aimed at improving athletic performance, including nutrition supplements, specialized training programs, and wearable fitness technology. Regenerative Medicine are Innovative treatments like platelet-rich plasma (PRP) therapy and stem cell therapy are being explored to promote tissue healing and regeneration. Preventive Care and Injury Prevention is Education, training, and counseling on proper techniques, equipment usage, warm-ups, and cool-downs to prevent injuries are crucial elements of sports medicine. Research and Development is Ongoing research into new treatments, techniques, and technologies to enhance the effectiveness of sports medicine interventions. The sports medicine field caters not only to professional athletes but also to recreational enthusiasts, students, and individuals engaging in physical activities. It's a dynamic and evolving market, driven by advancements in medical science, technology, and a growing emphasis on promoting overall health and well-being. The market encompasses a wide range of players, including medical institutions, healthcare providers, manufacturers of medical devices and equipment, pharmaceutical companies, fitness centers, and more.
The increasing popularity of sports and physical activities across all age groups has led to a higher incidence of sports-related injuries.
Advancements in Medical Technology is the driver of the Sports Medicine Market.
Technological advancements have led to improved diagnostic tools, minimally invasive surgical techniques, regenerative medicine therapies, and more effective rehabilitation methods. These innovations enhance the quality of care and outcomes for patients, driving the growth of the sports medicine market.
Specialized sports medicine services, advanced medical technologies, and treatments can be expensive.
Competitive Market Landscape is the restrain of the Sports Medicine Market.
The sports medicine market is competitive, with multiple players including medical institutions, manufacturers, and service providers. This competition can lead to pricing pressures and challenges in differentiating products and services.
Advances in genomics and personalized medicine offer the opportunity to tailor treatments.
Wearable Technology and Remote Monitoring is the opportunity of the Sports Medicine Market.
Wearable devices and smart technology enable real-time monitoring of athletes' performance metrics, recovery progress, and injury risk factors. This data can inform personalized training plans and help prevent injuries.
The use of regenerative therapies, such as stem cell treatments and platelet-rich plasma (PRP) therapy, is an emerging area within sports medicine.
The problems of the Sports Medicine Market are virtual rehabilitation and telemedicine.
Telemedicine and virtual rehabilitation platforms allow athletes to receive guidance and rehabilitation exercises remotely, increasing access to care and promoting consistent recovery.
IMPACT OF RUSSIAN UKRAINE WAR
Russia's military invasion on Ukraine elicited a somewhat different reaction, thereby ending sport's neutrality. Indeed, the IOC criticised Russia's violation of the UN General Assembly's Olympic Truce and, after some reluctance, called on individual federations to exclude Russian athletes from competing in any international competitions until further notice on March, the International Paralympic Committee reversed their decision, citing threats by many federations to boycott the 2022 Winter Paralympics, and barred Russian competitors from competing in the games. The transportation industry will face the brunt of the impact, as it has the highest energy intensity of any major business. Due to the pandemic, transportation expenses increased by more than 300-320% in 2021, as borders and ports were closed throughout the world. Shipping rates will continue to rise due to a lack of new containers. During this battle, the sports medicine market has lost up to 3.2-4.5% of its market share.
IMPACT OF ONGOING RECESSION
Economic downturns and recessions result in healthcare budget cuts and service reductions, resulting in layoffs and hiring freezes. Nurses, the most important healthcare professional group, are affected by cost cuts. Furthermore, the recession disrupts the nurse labour market, resulting in long-term shortages. During economic cycles, the strategy assists healthcare decision-makers in managing human resources strategically. Healthcare employment expanded by 36.7 percent, or 6.5 million jobs, across the country from 2015 to 2020. During the same time period, total nonfarm employment increased by 5.7 percent, or 6.3 million jobs. Thus, 57.8 percent of all national job growth happened in healthcare throughout this period. The sports market is now increasing prices of their products and services to between 3.5 % and 3.7 % in this ongoing recession.
KEY MARKET SEGMENTS
Body Monitoring and Evaluation Devices
Body Support & Recovery Products
Body Reconstruction & Repair
Back & Spine Injuries
Ankle & Foot Injuries
Elbow & Wrist Injuries
Rest of Eastern Europe
Rest of Western Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East
Rest of Africa
Rest of Latin America
North America: North America has the biggest revenue share in the sports medicine industry. Some of the primary reasons driving the market are the presence of a well-developed healthcare infrastructure, high expenditure, and the availability of technologically sophisticated medical equipment to treat various orthopaedic ailments. Citrefix is a suture anchor system for foot and ankle procedures that uses Stryker's Citregen material, which is meant to imitate the chemistry and structure of native bone in order to facilitate natural healing and bone regeneration.
Asia Pacific: Over the projection period, Asia Pacific is expected to have the quickest CAGR. The growing public knowledge of the advantages of physical activity has resulted in an increase in the number of persons participating in sports in the region. As a result, the use of sports medicine is expanding in nations such as China, Japan, and South Korea. The region's enormous population base, along with growing rates of sports-related injuries, has resulted in increased demand for sports medicine goods and services.
Some major key players in Sports Medicine Market are Performance Health Holding, Inc., Smith+Nephew, Zimmer Biomet, Stryker, Enovis (DJO Global), CONMED Corporation, Arthrex GmbH, Breg, Inc., Bauerfeind AG, Mueller Sports Medicine, Inc. and other players.
Smith+Nephew-Company Financial Analysis
In 2021: Smith & Nephew has announced the intellio linked tower platform, which allows users to connect and operate sports medicine devices. It includes a remote control, an on-screen display optimised for surgeon productivity, and an image management site hosted in the cloud.
In 2021: The American Society for Orthopaedic Sports Medicine has launched an open access video sports medicine journal, a video teaching and learning platform. AOSSM created this with a digital learning perspective in order to offer best practises throughout sports medicine in the care of athletes and active individuals.
In 2020: Anika Therapeutics Inc. has gained FDA authorization for six new medicines that meet the requirements of orthopaedic and sports medicine surgeons. The items will be commercialised in the future.
|Market Size in 2022||US$ 5.22 Bn|
|Market Size by 2030||US$ 9.66 Bn|
|CAGR||CAGR of 8.0 % From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Body Monitoring and Evaluation Devices, Body Support & Recovery Products, Body Reconstruction & Repair, Accessories)
• By Application (Shoulder Injuries, Knee Injuries, Back & Spine Injuries, Ankle & Foot Injuries, Hip Injuries, Elbow & Wrist Injuries, Other Injuries)
|Regional Analysis/Coverage||North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)|
|Company Profiles||Performance Health Holding, Inc., Smith+Nephew, Zimmer Biomet, Stryker, Enovis (DJO Global), CONMED Corporation, Arthrex GmbH, Breg, Inc., Bauerfeind AG, Mueller Sports Medicine, Inc.|
|Key Drivers||• The increasing popularity of sports and physical activities across all age groups has led to a higher incidence of sports-related injuries.
• Advancements in Medical Technology is the driver of the Sports Medicine Market.
|Market Restraints||• Specialized sports medicine services, advanced medical technologies, and treatments can be expensive.
• Competitive Market Landscape is the restrain of the Sports Medicine Market.
Ans. The Compound Annual Growth rate for Sports Medicine Market over the forecast period is 8.0%.
Ans. USD 9.66 Billion is the projected Sports Medicine Market size of the market by 2030.
Ans. In 2022, the Body Reconstruction & Repair category led the sports medicine market with a share. This is due to the increased use of fracture and ligament repair devices, as well as the increased use of arthroscopy equipment in minimally invasive procedures.
Ans. Among the market's leading companies are Arthrex, Smith & Nephew, and Stryker.
Ans. North America is predicted to have the largest market share.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Sports Medicine Market Segmentation, By Product
8.1 Body Monitoring and Evaluation Devices
8.2 Body Support & Recovery Products
8.3 Body Reconstruction & Repair
9. Sports Medicine Market Segmentation, By Application
9.1 Shoulder Injuries
9.2 Knee Injuries
9.3 Back & Spine Injuries
9.4 Ankle & Foot Injuries
9.5 Hip Injuries
9.6 Elbow & Wrist Injuries
9.7 Other Injuries
10. Regional Analysis
10.2 North America
10.2.1 North America Sports Medicine Market by Country
10.2.2 North America Sports Medicine Market by Product
10.2.3 North America Sports Medicine Market by Application
10.2.4.1 USA Sports Medicine Market by Product
10.2.4.2 USA Sports Medicine Market by Application
10.2.5.1 Canada Sports Medicine Market by Product
10.2.5.2 Canada Sports Medicine Market by Application
10.2.6.1 Mexico Sports Medicine Market by Product
10.2.6.2 Mexico Sports Medicine Market by Application
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Sports Medicine Market by Country
10.3.1.2 Eastern Europe Sports Medicine Market by Product
10.3.1.3 Eastern Europe Sports Medicine Market by Application
10.3.1.4.1 Poland Sports Medicine Market by Product
10.3.1.4.2 Poland Sports Medicine Market by Application
10.3.1.5.1 Romania Sports Medicine Market by Product
10.3.1.5.2 Romania Sports Medicine Market by Application
10.3.1.6.1 Hungary Sports Medicine Market by Product
10.3.1.6.2 Hungary Sports Medicine Market by Application
10.3.1.7.1 Turkey Sports Medicine Market by Product
10.3.1.7.2 Turkey Sports Medicine Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Sports Medicine Market by Product
10.3.1.8.2 Rest of Eastern Europe Sports Medicine Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Sports Medicine Market by Country
10.3.2.2 Western Europe Sports Medicine Market by Product
10.3.2.3 Western Europe Sports Medicine Market by Application
10.3.2.4.1 Germany Sports Medicine Market by Product
10.3.2.4.2 Germany Sports Medicine Market by Application
10.3.2.5.1 France Sports Medicine Market by Product
10.3.2.5.2 France Sports Medicine Market by Application
10.3.2.6.1 UK Sports Medicine Market by Product
10.3.2.6.2 UK Sports Medicine Market by Application
10.3.2.7.1 Italy Sports Medicine Market by Product
10.3.2.7.2 Italy Sports Medicine Market by Application
10.3.2.8.1 Spain Sports Medicine Market by Product
10.3.2.8.2 Spain Sports Medicine Market by Application
10.3.2.9.1 Netherlands Sports Medicine Market by Product
10.3.2.9.2 Netherlands Sports Medicine Market by Application
10.3.2.10.1 Switzerland Sports Medicine Market by Product
10.3.2.10.2 Switzerland Sports Medicine Market by Application
10.3.2.11.1 Austria Sports Medicine Market by Product
10.3.2.11.2 Austria Sports Medicine Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Sports Medicine Market by Product
10.3.2.12.2 Rest of Western Europe Sports Medicine Market by Application
10.4.1 Asia Pacific Sports Medicine Market by Country
10.4.2 Asia Pacific Sports Medicine Market by Product
10.4.3 Asia Pacific Sports Medicine Market by Application
10.4.4.1 China Sports Medicine Market by Product
10.4.4.2 China Sports Medicine Market by Application
10.4.5.1 India Sports Medicine Market by Product
10.4.5.2 India Sports Medicine Market by Application
10.4.6.1 Japan Sports Medicine Market by Product
10.4.6.2 Japan Sports Medicine Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Sports Medicine Market by Product
10.4.7.2 South Korea Sports Medicine Market by Application
10.4.8.1 Vietnam Sports Medicine Market by Product
10.4.8.2 Vietnam Sports Medicine Market by Application
10.4.9.1 Singapore Sports Medicine Market by Product
10.4.9.2 Singapore Sports Medicine Market by Application
10.4.10.1 Australia Sports Medicine Market by Product
10.4.10.2 Australia Sports Medicine Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Sports Medicine Market by Product
10.4.11.2 Rest of Asia-Pacific APAC Sports Medicine Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Sports Medicine Market by Country
10.5.1.2 Middle East Sports Medicine Market by Product
10.5.1.3 Middle East Sports Medicine Market by Application
10.5.1.4.1 UAE Sports Medicine Market by Product
10.5.1.4.2 UAE Sports Medicine Market by Application
10.5.1.5.1 Egypt Sports Medicine Market by Product
10.5.1.5.2 Egypt Sports Medicine Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Sports Medicine Market by Product
10.5.1.6.2 Saudi Arabia Sports Medicine Market by Application
10.5.1.7.1 Qatar Sports Medicine Market by Product
10.5.1.7.2 Qatar Sports Medicine Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Sports Medicine Market by Product
10.5.1.8.2 Rest of Middle East Sports Medicine Market by Application
10.5.2.1 Africa Sports Medicine Market by Country
10.5.2.2 Africa Sports Medicine Market by Product
10.5.2.3 Africa Sports Medicine Market by Application
10.5.2.4.1 Nigeria Sports Medicine Market by Product
10.5.2.4.2 Nigeria Sports Medicine Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Sports Medicine Market by Product
10.5.2.5.2 South Africa Sports Medicine Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Sports Medicine Market by Product
10.5.2.6.2 Rest of Africa Sports Medicine Market by Application
10.6 Latin America
10.6.1 Latin America Sports Medicine Market by Country
10.6.2 Latin America Sports Medicine Market by Product
10.6.3 Latin America Sports Medicine Market by Application
10.6.4.1 Brazil Sports Medicine Market by Product
10.6.4.2 Brazil Africa Sports Medicine Market by Application
10.6.5.1 Argentina Sports Medicine Market by Product
10.6.5.2 Argentina Sports Medicine Market by Application
10.6.6.1 Colombia Sports Medicine Market by Product
10.6.6.2 Colombia Sports Medicine Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Sports Medicine Market by Product
10.6.7.2 Rest of Latin America Sports Medicine Market by Application
11 Company Profile
11.1 Performance Health Holding, Inc.
11.1.1 Company Overview
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2.1 Company Overview
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Zimmer Biomet
11.3.1 Company Overview
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Company Overview
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Enovis (DJO Global)
11.5.1 Company Overview
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 CONMED Corporation
11.6.1 Company Overview
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Arthrex GmbH
11.7.1 Company Overview
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Breg, Inc
11.8.1 Company Overview
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Bauerfeind AG
11.9.1 Company Overview
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Mueller Sports Medicine, Inc.
11.10.1 Company Overview
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
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