The global sports medicine market is estimated to grow at a considerable CAGR of 7.2% during the forecast period. The market growth is backed by the rising sports-related injuries such as the knee, shoulder, and growing trends toward the minimally invasive procedure.According to the American Orthopaedic Society for Sports Medicine, the trend toward participation in organized sports has been reported. In the US, approximately 30 million adolescents and children participate in youth sports. Moreover, over 3.5 million kids under the age of 14 receive medical treatment for sports injuries every year. Moreover, children aged between 5 and 14 accounts for approximately 40.0% of all the sports-related injuries that are treated in hospitals. Moreover, the advancement in regenerative medicines and the availability of new advanced products and treatment options forsports-related injuries are the factors that propel market growth.

Impact of COVID-19 Pandemic on Global Sports MedicineMarket

In January 2020, the COVID-19 pandemic spread the lockdown in most the nations to stop the spread of the virus which resulted in a financial crisis in most industries including the sports medicine market. The market players faced a significant drop in sales in 2020. As per the 2020 annual report of CONMED Corp., the companywas significantly impacted by the emergence of the COVID-19 pandemic, with the company experiencing lower sales in 2020 compared to 2019, first in the Asia/Pacific Rim and later in the US, Europe and elsewhere as temporary closures occurred and hospitals and surgery centers postponed many non-urgent surgical procedures to minimize the risk of infection. However, as the situation got normal, the sales have also increased significantly.

Segmental Outlook 

The global sports medicinemarket is segmented based on product and application. Based on the product, the market is segmented into reconstruction & repair products, support & recovery products, and accessories. Based on the application, the market is sub-segmented into back & spine injuries, elbow & wrist injuries, hip & groin injuries, knee injuries, shoulder injuries, and others. The other segment is further sub-segmented into foot and ankle injuries. The above-mentioned segments can be customized as per the requirements.Based on product, support &recovery products are projected to grow suggestively, and based on application, knee injuries are estimated to rise significantly during the forecast period.

Global Sports Medicine  MarketShare by Product, 2021 (%)

The Support and Recovery Products Segment is Anticipated to Grow Significantly in the Global Sports Medicine Market

Support and recovery products segment are projected to have significant market growth during the forecast period. The market is growing due to the increasing application of body support and recovery products, such as braces, physiotherapy equipment, and supporters in sports injuries. These products are primarily applied to sports-related injuries. Moreover, reconstruction and repair products have a significant market share among all product types, which include bone reconstruction devices, soft tissue repair equipment, surgical equipment, and others. The market is backed by the rising demand for arthroscopy devices, ligament, and fracture devices in minimally invasive procedures. Moreover, the advancement in arthroscopic technology is the other factor that contributes to the growth of the market.

Regional Outlooks

The global Sports Medicine market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement.Asia-Pacific is estimated to have significant growthin the global market during the forecast period. This is due to an increasingly growing medical tourism and rising injuries coupled with a large pool population in China and India. These countries raise the demand for sports medicine in the region which propels the market growth.

Global Sports Medicine Market Growth, by Region 2022-2028

The North America Region Estimated to Hold Significant Share in the Global Sports Medicine Market

Geographically,North America is estimated to share significantly in the global market. The increasing numbers of sports injuries are propelling the use of body reconstruction, recovery, and other products. Moreover, rising sports and physical activities leads to sports-related injuries in the region. Rising severe shoulder and elbow injuries among softball and baseball players in the US are another factor propelling the market growth in the country. The rising number of sports injuries is fueling the demand for medical products to manage joint pain, reduce swelling and provide protection and support to the management of injuries.Moreover, technological advancement and availability of advanced products and treatment options are further contributing to the market growth. As per the annual report of CONMED Corp. 2020, the company generated 44% of the global revenue of the market in the US generated more than 50% of its annual revenue. 

Market Players Outlook

The major companies serving the global Sports Medicine market include CONMED Corp.,DePuy Synthes Companies (A Johnson & Johnson Services, Inc. Company), Medtronic PLC, RTI Surgical, Inc., Stryker Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2019, Arthrex, Inc.,established an FDA agreement for its Eclipse Total Shoulder Replacement System whichhas helped in enhancing the company’s position in the market.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global sports medicinemarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.