Sports Medicine Market Size Worth USD 9,655.6 Million by 2030 at 7.40% CAGR – Report by Market Research Future (MRFR)
Sports Medicine Market Size, Growth and Insights By Product (Joint Reconstructive & Repair Products, Support & Recovery Products, Accessories & Consumables, Others), By Application (Shoulder Treatment, Knee Treatment, Hip Treatment, Spine Treatment, Others), By Procedure (Tendinosis, Tendon to Bone, Cartilage Repair) and By End-User (Hospitals & Emergency Care, Trauma Centres, Ambulatory Care, Others), Competitive Market Trends, Share and Forecast to 2030
New York, USA, Feb. 17, 2023 (GLOBE NEWSWIRE) — Sports Medicine Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Sports Medicine Market Information By Product, Application, Procedure, End-User, and Region – Forecast till 2030” the market is anticipated to acquire the value of USD 9,655.6 Million while thriving at a CAGR of 7.40% during the assessment tenure from 2022-2030.
It is projected that the rising number of sports injuries, the growth of medical associations, and ongoing technology advancements will drive the sports medicine market. Sports with the highest injury rates tend to be football and baseball. Another factor that is anticipated to increase the market over the evaluation period is the absence of carelessness while playing the sport. However, over the forecast period, the growth of the sports medicine market is projected to be constrained by unfavourable reimbursement policies and a lack of knowledge.
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|Market Size in 2030||USD 9655.6 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product, Application, Procedure and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Rising Incidence of Sports Injuries to Favour Market Growth|
|Growing Penetration of Sports Medicine in Emerging Economies|
The key players of the Sports Medicine Market
List of Key Companies Covered in this report are
- Zimmer Biomet
- DePuy Synthes
- CONMED Corporation
- GE Healthcare
- Arthrex, Inc.
- Smith & Nephew plc
Growing Number of Sports Injuries to Benefit Market Development. The market for sports medications may be driven mostly by rising sports participation and increased fitness awareness. During the evaluation period, the market is projected to grow because to the increasing frequency of ligament tears and fractures. During the assessment period, it is anticipated that the sector will grow globally due to the rising demand for injury treatment and rehabilitation.
US non-profit healthcare system Banner Health said in December 2020 that it would construct a $54 million valley sports medical complex.
A significant opportunity for the market expansion of sports medications is presented by the expanding use of sports medicine in emerging economies.
Due to their vast patient populations, developing nations like China and India are projected to present a sizable opportunity for market expansion. Due to rising disposable income and expanding kid and adult participation in sports, the market for sports medicine is anticipated to expand.
The National Academy of Sports Medicine (NASM), a leader in fitness certifications and specialties with a global reputation, announced the launch of a revised weight reduction specialisation course for certified trainers in December 2020.
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The sports medicine market’s growth may be hampered by a lack of expertise. The lack of knowledge is one of the main factors affecting the worldwide market for sports. Professionals with expertise and knowledge are in more demand.
One of the main impediments to the growth of the sports medicine market is the dearth of physicians who specialise in sports medicine.
A significant obstacle to market expansion is also the absence of a sports culture. Lack of a sporting culture, slow growth of medical associations, and a dearth of cutting-edge healthcare facilities are a few of the key issues that would seriously hamper market advancement over the evaluation period.
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Market segmentation for sports medicine
The sports medicine market is divided into support & recovery products, accessories & consumables, joint reconstructive & repair products, and other products based on product.
The global market for sports medicine is divided into categories based on application, including those for treating knee, spine, shoulder, hip, and other injuries.
The tendinosis, tendon to bone, and cartilage repair subsegments of the global market for sports medicine are based on procedure. The worldwide sports medicine market is divided into ambulatory care, trauma centres, hospitals & emergency care, and other end-users.
During the Forecast Period, North America Will Acquire a Significant Market Share
During the period of the analysis, the regional market is anticipated to increase significantly due to the rising popularity of sports and the growing awareness of the need to treat sports injuries. The size of the sports medicine market in North America is anticipated to increase due to the increasing investments there. The availability of cutting-edge medical treatments to treat a variety of orthopaedic problems is anticipated to influence local commerce in the next years.
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It is anticipated that the US, Canada, and Mexico will contribute significantly during the review period.
The second-largest market share will be acquired by Europe. Europe is expected to gain the second-largest market share throughout the projection period due to the region’s increased interest in sports. The market is anticipated to grow during the forecast period as a result of the government’s increased efforts to boost the market for sports medical devices.
MEA to Experience Slow Growth Due to the presence of impoverished nations and a lack of a sports culture, MEA is anticipated to see sluggish growth during the forecast period. However, there are a number of unexplored markets that could present profitable prospects for the growth of the sports medicine industry.
Latin America Will See Consistent Growth When the Review Period began
Due to the growing popularity of sports, Latin America is predicted to grow at a considerable CAGR during the evaluation period. During the evaluation period, Brazil is anticipated to be a lucrative sports medicine industry.
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