Sports Medicine Market Size, Share & Segmentation, 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) and By Regions Global Market Forecast 2023-2030

The Sports Medicine Market 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.

MARKET DYNAMICS

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.

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.

RESTRAIN:

• 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.

OPPORTUNITY:

• 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.

CHALLENGES:

• 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

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 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

REGIONAL ANALYSIS

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.

Key players

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

RECENT DEVELOPMENT

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.