The global sports medicine market was worth US$ 6.2 Billion in 2018. Sports medicine, also known as sports and exercise medicine (SEM), is an area of medical practice that is concerned with preventing, diagnosing and treating sports or exercise-related injuries. Its primary objective is to help sports enthusiasts engage in exercising safely as well as effectively for achieving their training goals. Generally, sports medicine providers are equipped with specialized training to assist patients in maximizing function and minimizing disability. They treat a wide range of physical conditions like acute traumas including strains, sprains, fractures and dislocations as well as chronic overuse injuries such as tendonitis, degenerative diseases and overtraining syndrome.
The demand for sports medicine is rising on account of the altering lifestyles of consumers and the growing incidences of sports injuries across the globe. This can also be attributed to the rising number of individuals who are choosing sports as a career, owing to the presence of numerous opportunities, such as scholarships and corporate funding, and developing sports infrastructure. Apart from this, a rise in the demand for minimally invasive surgeries is also impelling the market growth. Moreover, rising smoking rates, sedentary lifestyles, increasing adoption of the fast food and over-consumption of alcohol, in both the developed and emerging economies, has led to a rise in the prevalence of life-threatening diseases over the years. The rising awareness about these diseases is anticipated to encourage individuals to engage in different sports activities for maintaining their wellbeing and fitness, thereby boosting the sports medicine market. Looking forward, IMARC Group expects the market to reach a value of US$ 8.8 Billion by 2024, registering a CAGR of 6% during 2019-2024.
The report has also analyzed the competitive landscape of the market with some of the key players being 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, Zimmer Biomet Holdings, etc.
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