The market for sports medicine was estimated to be worth USD 8,520 million in 2021, and it is projected to grow to USD 12,862 million by 2030, with a CAGR of 5.1% between 2022 and 2030. Sports medicine is a branch that deals with the care of injuries sustained during sporting endeavors. It is a study that addresses enhancing physical fitness and avoiding sports-related accidents. Sports medicine’s main goals are to improve athletic performance and stop injuries from happening again. It is concerned with enhancing patients’ athletic prowess. Products for sports medicine help with both the healing of sports injuries and the prevention of new ones.
A few games, exercises, and rivalries embraced in schools are expanding the interest in international sports news and medication. As per the Place for Infectious Prevention (CDC), consistently in the U.S., around 30 million youngsters and kids take part in some type of sports movement. Besides, sports-related wounds represent 33% of all youth wounds. Thus, the dynamic support of kids in sports activities joined with the rising frequency of sports wounds, will animate the game medication market development throughout the next few years.
Market Trends
Dynamic cooperation in sports affects the psychological well-being and interactive abilities of an individual, separated from additionally advancing actual well-being. The 2017 Kazan Activity Plan supported by Clergymen and Senior Authorities Liable for Actual Schooling and Game (MINEPS VI), as well as the Commission on Finishing Adolescence Weight, perceived that sporting exercises and dynamic play are essential variables for the development and sound advancement of youngsters, including babies. Consequently, this multitude of variables will emphatically affect the development of in general games medication industry.
Presentation of new games in pro athletics associations and other global games will additionally speed up the business scene. For example, the worldwide Olympic advisory group presented not many new-wearing exercises in the Tokyo 2020 games. These games included surfing, sport climbing, karate, and others. In this way, the presentation of such game exercises in worldwide games will open new market amazing open doors.
Sports Medication Market Patterns
The developing usage of wearable gadgets like wellness groups to screen pressure load and keep away from sluggishness and injury issues in competitors has helped the extension of the market.
Interest in sports medication is becoming inferable from an ascent in the quantity of sports wounds and an ascent in individuals taking part in wellness and athletic activities. The shift from an essential way to deal with preventive consideration for sports-related wounds is projected to build the market during the estimate time frame.
The excessive cost of embedding materials seriously thwarts the development of the market. A costly embed is a serious concern for market development in nations like India, where just a little part of the populace is covered by medical coverage. The absence of prepared muscular experts is one of the significant difficulties for the market, as muscular specialists carry out most systems for athletic wounds.
MARKET INSIGHTS
DRIVERS
- Over the projected period, technical developments in the orthopedic discipline, such as the 3D printing of implants and the introduction of sensor technology and bionic technology, will push the sports medicine industry expansion.
- Growing government involvement in encouraging and promoting sports activities and growing public awareness of personal health is anticipated to drive the global market.
- The number of sporting events and contests held in schools raises the need for sports medicine. The Centers for Disease Control (CDC) estimates that 30 million teenagers and children participate in sports activities annually in the United States. Additionally, one-third of all children’s injuries are sports-related. As a result, the market expansion will be influenced by children’s active participation in sports activities and the increasing prevalence of sports injuries.
- The launch of new games in professional athletic leagues and international competitions will hasten the pace of business. For the Tokyo 2020 Olympics, the worldwide Olympic committee, for instance, added a few additional sports. Among these games were karate, sport climbing, and surfing. As a result, including these sports in international sporting events will create new business prospects.
RECENT DEVELOPMENT
- AnkleSprain.com, a website dedicated to treating ankle sprains, was launched by Arthrex in March 2021. It has aided the business in raising public awareness of ankle sprains, which has benefited the clientele.
- DJO, LLC declared the purchase of Mathys AG Bettlach in June 2021. The product line of DJO now includes items like implantation for artificial joint replacement and other sports medicine solutions. The company developed and provided the newest orthopedic goods due to the acquisition, maintaining its market position and obtaining an advantage over rivals.
MARKET SEGMENTATION
By Product
- Arthroscopy devices
- Fracture and ligament repair products
- implants
- Prosthetics
- Others
Injury Type
- Shoulder injuries
- Knee injuries
- Hip and groin injuries
- Spine and back injuries
- Foot and ankle injuries
- Others
Region Analysis
- North America
- US
- Canada
- Europe
- UK
- France
- Germany
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Saudi Arabia
- Brazil
- South Africa
- Rest of LAMEA
Key Players
- CONMED Corporation
- Arthrex Inc
- Johnson & Johnson
- DJO Global
- Smith & Nephew Plc
- Orthofix International NV
- Mueller Sport Medicine
- Stryker Corporation