Market Size
The Global Sports Medicine Market reached US$ 7.0 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 11.3 billion by 2031. The global sports medicine market is expected to exhibit a CAGR of 6.3% during the forecast period (2024-2031).
The increase in the number of sports injuries, rising product launches, introductions of new therapies, advancements in regenerative medicine, and increasing requirements for minimally invasive surgery are among the factors expected to boost the global sports medicine market growth in the forecast period.
Market Scope
| Metrics | Details |
| CAGR | 6.3% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product, Application, End User, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
Increasing Incidences of Sports Injuries Drive the Growth of the Sports Medicine Market
The increasing number of sports and recreational activity-associated injuries is boosting the global sports medicine market growth in the forecast period. For instnace, according to Johns Hopkins University, over 3.5 million youngsters aged 14 and younger obtain injury yearly by playing sports or partaking in recreational exercises.
Although death from a sports injury is rare, the leading cause of death from a sports-related injury is a brain injury. Also, according to the National Safety Council, over 3.2 million individuals were treated in emergency divisions for injuries concerning sports and recreational gear in 2021. The sports most repeatedly associated with injuries are basketball, exercise, and cycling.
Sports and recreational exercises account for roughly 21% of all traumatic brain damage in American youngsters. Moreover, according to the AusPlay survey 2020-21, the most elevated rate of registered injury per participant was for the Outdoor group sports type, with about 26% of players injured in 2022.
Combat sports were next with almost 16% of players injured, closely heeded by Indoor group sports, motor, and horse sports individually with approximately 15% injured (ASC, 2023). The sports accountable for the highest injury hospitalizations in 2020–21 were those that concerned wheels, and diverse kinds of football. Cycling induced about 9,800 registered injury hospitalizations, heeded by soccer (5,100), roller sports (5,000), and rugby (5,000).
The Increase Advancements are Expected to Present the Global Sports Medicine Market With Growth Opportunities
The increasing advancements are presenting the global sports medicine market with lucrative growth opportunities. For instnace, one of the highly compelling creations is stem cell treatment, for tendon, ligament, and cartilage rejuvenation, stem cells can be gathered from fat or bone marrow on the person himself and injected, typically with PRP, into the injured tissue.
In suitable conditions, stem cells can differentiate or transform into any kind of tissue in the body. This represents an injured tendon, worn-out or torn cartilage, or unconsolidated ligaments potentially rejuvenating around to normal without surgery or lengthy time off.
The Presence of Stringent Regulatory Bodies is Estimated To Hamper The Global Sports Medicine Market During The Forecast Period
The presence of stringent regulatory bodies for the approval of newly developed drugs for sports medicine is hampering the global market growth in the forecast period. For instance, the major regulatory bodies supervising the authorization and commercialization of sports medicine include the United States Food and Drug Administration (USFDA) and the European Medicines Agency, an agency of the European Union in charge of the evaluation and supervision of pharmaceutical products in the European Union.
Market Segmentation Analysis
The global sports medicine market is segmented based on product, application, end-user, and region.
The Ankle & Foot Injuries Application is Estimated to Dominate the Global Sports Medicine Market
Owing to the increasing product introduction for the foot and ankle sports-injury applications segment into the global sports medicine market, the segment is estimated to hold a large share of the global market accounting for about 33.8%. For instance, in December 2022, Stryker, one of the world’s leading medical technology corporations launched Citrefix, a suture anchor system for foot & ankle procedures that employs the corporation’s Citregen material, which is developed to imitate the chemistry and configuration of aboriginal bone to sustain natural recovery and bone rejuvenation.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
North America is estimated to hold Approximately 38.9% of the Market Share by 2030, Owing to The Increasing Cases of Chronic Conditions
Owing to the increasing incidences of sports injuries in the United States the regional market is estimated to hold about 38.9% of the global sports medicine market share by 2030. For instance, according to the National Safety Council (NSC), exercise equipment accounted for about 409,000 injuries, the most in any category of sports and recreation, including exercise, exercise equipment associated with 409,224 injuries, bicycles, and accessories related 375,797 injuries, basketball associated 259,779 injuries, skateboards, scooters, hoverboards related 245,177 injuries and around ATV's, mopeds, minibikes, etc. with 238,404 injuries in 2021.
Source: DataM Intelligence Analysis (2023)
Market Companies
The major global players in the sports medicine market include Arthrex Inc., CONMED Corporation, Johnson & Johnson, Medtronic PLC, Mueller Sports Medicine Inc., Performance Health, Smith & Nephew, Stryker Corporation, Wright Medical Group, Zimmer Biomet Holdings Inc., among others.
COVID-19 Impact Analysis
Russia-Ukraine Conflict Analysis
The Russia-Ukraine conflict is thought to hold a moderate influence on the global sports medicine market, as there is a low incidence of sports injuries and a lack of primary market players in this region.
Though continuing to countenance invasions from Russian armies, Ukrainian clinics are forced by growing numbers of deaths and limited medical aid. There are shortages across all products of medications. Again, the significance of the import and export of fundamental materials are expected to slightly impact the global sports medicine market growth in the forecast period.
Key Developments
- In August 2021, DePuy Synthes, an associate of Johnson & Johnson featured the latest developments and technology solutions shaping new bars of care for modern-day orthopedics in the American Academy of Orthopedic Surgeons (AAOS) yearly conference. The latest featured developments were robotic and more personalized.
- In February 2022, the DJO multinational corporation continued its collaboration with the Professional Football Athletic Trainers Society (PFATS). PFATS is a professional organization comprised of certified athletic coaches functioning in professional football.
- In January 2023, Zimmer Biomet Holdings, Inc., a multinational medical technology leader, acquired Embody, Inc., a privately-held medical device corporation concentrated on soft tissue healing, for $155 million at closing and up to an added $120 million subject to fulfilling prospective regulatory and commercial landmarks over a three-year term.
Why Purchase the Report?
- To visualize the global sports medicine market segmentation based on product, application, end-user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of sports medicine market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available in excel consisting of key products of all the major players.
The global sports medicine market report would provide approximately 53 tables, 54 figures, and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
