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sports medicine market is expected to reach USD 11.4 Billion in 2028 and register a steady revenue of 6.4% over the forecast period,
NEW YORK CITY, NY, UNITED STATES, September 22, 2022 /EINPresswire.com / -- The global sports medicine market is expected to reach USD 11.4 Billion in 2028 and register a steady revenue of 6.4% over the forecast period, according to a latest report published by Reports and Data. Key factors driving global market revenue growth are rising awareness about physical fitness & personal health, growing healthcare spending, and increasing focus on developing advanced equipment & devices.
In recent years, there has been a steady increase in sports injuries as various schools & educational institutes are encouraging sports activities. Similarly, large population across the globe is adopting a healthy lifestyle and adopting daily exercise and sports routine. Sports injuries can be caused to professional athletes, as well as non-athletes due to factors such as practice of improper techniques, lack of conditioning, impact, or insufficient warm-up & training. Sports medicine is a branch of specialty medicine that deals with treatment and prevention for various sports & exercise-related injuries. Sprains, fractures, stingers, disc injuries, and dislocations are some of the most common sports injuries caused due to playing cricket, football, ice hockey, baseball, volleyball, bicycle riding, and swimming, among others. Rising budget for sports, increasing investments in research & development activities, availability of advanced equipment & devices for treating sports injuries, and high adoption of 3D printing for making orthopedic devices are boosting market revenue growth.
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However, factors such as high cost of implants, lack of trained professionals, unavailability of latest equipment & devices in developing countries, and dominance of local companies offering materials & products at low costs are expected to hamper overall market growth in the near future.
Some key highlights of the report:
Among the application segment, knee injuries segment is expected to account for significantly larger revenue share over the forecast period. Increasing incidence of knee injuries due to sports & recreational activities, rapid growth in orthopedics sector, and availability of various advanced treatments & equipment for knee injuries are anticipated to boost growth of this segment.
Based on end-use, physiotherapy centers & clinics segment is expected to register fastest revenue CAGR during the forecast period, owing to availability of cost-effective treatments, rising number of well-developed physiotherapy centers & clinics, and increasing cases of fractures & ligament tears.
North America is expected to account for largest revenue share in the global sports medicine market between 2021 and 2028. High revenue growth is attributed to factors such as presence of well-established healthcare infrastructure, rising prevalence of sport-related activities, steady inclination towards a healthy lifestyle, and availability of latest treatment procedures.
Asia Pacific is expected to register rapid revenue CAGR throughout the forecast period, owing to increasing occurrence of knee injuries & ligament tears, rising focus on surging sports participation in schools & colleges, and higher awareness about overall health & physical fitness. In addition, increasing investments to develop enhanced products & devices, improving healthcare infrastructure, rising disposable income, and surging healthcare spending are other factors supporting market growth in Asia Pacific.
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Sports Medicine market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Arthrex, Inc., Smith & Nephew plc, Stryker Corporation, DJO Global, Inc., Mueller Sports, Inc., Wright Medical Group N.V., Medtronic, RTI Surgical, Performance Health International Limited, KARL STORZ, Bauerfeind AG, Össur, MedShape, Inc., Cramer Products, Biotek, and RôG Sports Medicine.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Sports Medicine Market Segmentation:
Product Outlook (Revenue, USD Billion, 2018-2028)
Body Reconstruction Products
Fracture and Ligament Repair Products
Body Support & Recovery Products
Braces and Supports
Body Monitoring & Evaluation
Application Outlook (Revenue, USD Billion, 2018-2028)
Foot & Ankle Injuries
Elbow & Wrist Injuries
Back & Spine Injuries
Hip & Groin Injuries
Geographic Segment Covered in the Report:
The Sports Medicine report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
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Key market aspects are illuminated in the report:
Executive Summary: It covers a summary of the most vital studies, the Global Sports Medicine market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Sports Medicine market, the years measured, and the study points.
Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
Manufacture by Region: This Global Sports Medicine report offers data on imports and exports, sales, production and key companies in all studied regional markets.
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