According to the latest report by IMARC Group “Sports Medicine Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028“, The global sports medicine market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.77% during 2023-2028.
Sports medicine refers to medications used to enhance the physical fitness and prevent and treat injuries associated with athletic activities. It is utilized during cardiac rehabilitation provided by professional cardiothoracic surgeons and nurses to recover and improve the functional capacity of an athlete after experiencing events of heart attack or having cardiac surgery. Sports medicine assists individuals in maintaining safety when pursuing their training goals. It offers functional, medical, and therapeutic aspects of exercise to enhance the overall performance.
It also reduces the formation of clots in arteries and lowers blood pressure. It helps heal stress fractures, muscle imbalance, and muscular weakness caused by the lack of proper strength training, abnormal gait, and improper footwear. It also cures hormonal imbalance and exercise-related muscle cramps caused by inadequate mineral or other nutrient intake in a sportsperson. Sports medicine aids athletes in overcoming their emotional challenges and anxieties that can impede performance and enables them to maintain a mental balance while recovering from severe injuries and during competitions across the globe.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
At present, the increasing demand for sports medicine due to the rising participation of individuals in sport-associated activities represents one of the key factors influencing the market positively. Besides this, the growing integration of effective non-surgical or regenerative treatment options, such as platelet-rich plasma (PRP) and stem cell therapies, to help patients recover quickly is offering a favorable market outlook. In addition, the rising utilization of minimally invasive surgical procedures to reduce scarring and the requirement for post-operative care around the world is contributing to the growth of the market. Apart from this, the increasing employment of musculoskeletal ultrasound (MSK US) for rapid diagnosis and safe treatment and neurocognitive testing in managing concussions is strengthening the growth of the market.
Additionally, governing agencies of various countries are launching sports medicine rehabilitation programs to ensure that athletes get easier access to effective medical treatment from experienced doctors and physiotherapists. Moreover, there is an increase in the adoption of healthy lifestyle habits and involvement in fitness activities, such as swimming, bicycling, martial arts, and running, to avoid chronic diseases and weight gain. This, along with the rising popularity of gyms and Zumba centers among fitness enthusiasts across the globe, is propelling the growth of the market. Furthermore, the increasing number of specialty clinics to provide quality healthcare, along with the thriving medical industry, is bolstering the growth of the market.
Competitive Landscape:
The competitive landscape of the market has also been analyzed, with some of the top leading sports medicine companies.
Some of these key players include:
- Arthrex
- Smith & Nephew plc’s
- Medtronic plc.
- Wright Medical Group N.V.
- Bioventus
- Stryker
- 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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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Product:
- Body Reconstruction
- Fracture & Ligament Repair Products
- Arthroscopy Devices
- Implants
- Orthobiologics
- Prosthetics
- Body Support and Recovery
- Braces & Supports
- Physiotherapy
- Thermal Therapy
- Ultrasound Therapy
- Laser Therapy
- Electrostimulation Therapy
- Body Monitoring and Evaluation
- Cardiac Monitoring
- Respiratory Monitoring
- Hemodynamic Monitoring
- Musculoskeletal Monitoring
- Compression Clothing
- Accessories
- Bandages
- Disinfectants
- Tapes
- Others
Breakup by Application:
- Knee Injuries
- Shoulder Injuries
- Foot & Ankle Injuries
- Hip & Groin Injuries
- Elbow & Wrist Injuries
- Back & Spine Injuries
- Others
Breakup by End-User:
- Hospitals
- Orthopedic Specialty Clinics
- Fitness and Training Centers
- Ambulatory Surgical Centers (ASCs)
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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