According to the latest report by IMARC Group, titled "Sports Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global sports medicine market size reached US$
6.1 Billion in 2022. Sports medicine refers to an area of medical practice that assists individuals to improve their overall athletic performance. It aids in preventing, diagnosing as well as treating sports-related injuries, such as sprains, strains, fractures, concussions, dislocation and exercise-induced asthma. Apart from this, it is also widely used to treat chronic overuse injuries, which include tendonitis, degenerative diseases and overtraining syndrome. Sports medicine doctors aid professional athletes and sports enthusiasts in achieving their training goals by offering advice on proper exercises, nutrition and supplements. Sports doctors who are certified in pediatrics or family medicine can also assist children and teenagers by helping them in exercising safely and avoiding acute trauma.
Global Sports Medicine Market Trends:
The global sports medicine market is primarily driven by increasing participation in sports and related activities. In line with this, growing awareness regarding the adverse effects associated with a lack of physical activities has led a majority of the population to adopt a physically active lifestyle. An increasing number of individuals are participating in sports events and physical activities, which is creating a positive outlook for the market. Also, rising incidences of sports-related injuries are acting as another major growth-inducing factor. This is further facilitated by numerous government initiatives to upgrade the sports healthcare infrastructure. Moreover, individuals across the globe are now opting for sports as a career, which is providing a thrust to the market growth. This can be attributed to the presence of numerous opportunities in the field of sports, in terms of scholarships and corporate funding, along with a successful professional career. The increasing organization of marathons for spreading awareness regarding social causes, the growing preference among sports enthusiasts and athletes for minimally invasive procedures and growing popularity of wearable devices that monitor the physical health of the professionals are some of the other factors influencing the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$
8.5 Billion by 2028, growing at a CAGR of 5.77% during 2023-2028.
- On the basis of the product, the market has been classified into body reconstruction (fracture & ligament repair products, arthroscopy devices, implants, orthobiologics and prosthetics) body support and recovery (braces & supports and physiotherapy), body monitoring and evaluation (cardiac monitoring, respiratory monitoring, hemodynamic monitoring, musculoskeletal monitoring), compression clothing, and accessories (bandages, disinfectants, tapes and others). At present, body reconstruction represents the largest segment in the market.
- On the basis of the application, knee injuries exhibit a clear dominance in the market. Other major segments are shoulder injuries, foot and ankle injuries, hip and groin injuries, elbow and wrist injuries, back and spine injuries and others.
- Based on the end user, the market has been divided into hospitals, orthopedic specialty clinics, fitness and training centers, ambulatory surgical centers (ASCs) and others. Currently, hospitals account for the majority of the overall market share.
- On the geographical front, North America holds the leading position in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been analyzed with the detailed profiles of the key players operating in the market. Some of these players include Arthrex, Smith & Nephew PLC, Medtronic PLC, Wright Medical Group, Bioventus LLC, Stryker Corporation, Mueller Sports Medicine, RTI Surgical Holdings, Breg, Conmed Corporation, Performance Health International Limited, Bauerfeind AG, KARL STORZ Gmbh & Co. KG, and Zimmer Biomet Holdings.
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