Sports Medicine Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Sports Medicine Market

The Sports Medicine Market size was valued at USD 6.26 billion in 2023, and the market is now projected tgrow t13.86 USD billion by 2032, exhibiting a CAGR of 5.8% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Sports Medicine Market growth.

One of the main things influencing people tpursue this as a career is the addition of new games tthe Olympics and other international competitions. One of the main causes of the rise in these injuries in both industrialized and developing nations is the increased participation in sports and physical activities. Furthermore, during the projected period, this is one of the main reasons expected tdrive the need for sports medicine. Furthermore, some of the key elements anticipated tdrive the growth of the sports medicine market include expanding infrastructure and the availability of possibilities like corporate sponsorship and scholarships. Athletes are prone tmishaps and injuries, which would probably increase demand for these medications and drive the market. These particular growth driving factors have been recorded tattribute the Sports Medicine Market Share.

It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. A healthy lifestyle and the increasing prevalence of chronic disorders like obesity and cardiovascular diseases are twof the main factors driving higher involvement in sports. Rising demand for minimally invasive operations in both developed and developing nations, as well as ongoing innovation in new reconstruction and surgical equipment technologies, are further drivers driving the market's expansion. Over the course of the forecast period, rising rates of sports injuries in both developed and developing nations are expected tpropel the expansion of the global market.

Comprehensive Analysis of Sports Medicine Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. The global market can be divided intmany segments based on type, such as body support devices, bone reconstruction devices, and surgical devices. Some of the factors that are expected tsupport the expansion of the body reconstruction devices market include technological advancements in implants, the growing use of arthroscopy, and products for ligament repair and fractures. The market may be divided intseveral segments based on application, including knees, head and neck, shoulder, ankle and foot, wrist and elbow, and others. The market may be divided inthospitals and specialist clinics based on the distribution route. These particular segmentations have been categorized intsuch groups sthat their attribution tthe overall revenue systems are properly recorded studied sas tdetermine which is the leading and most beneficial segment of all.

During the projected period, North America is expected tgrow at a moderate compound annual growth rate (CAGR) and generated billions of dollars in sales. The growth of the regional market is expected tbe aided by the expansion of orthopedic centers, rising athletic and physical activity participation, and rising investment in the creation of sports-related medical treatment devices during the forecast period, with Europe following closely behind. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Arthrex, Inc. (U.S.), Smith & Nephew (U.K.), Stryker (U.S.), CONMED Corporation (U.S.), Zimmer Biomet (U.S.), Johnson & Johnson Services, Inc. (U.S.), and KARL STORZ SE & Co. KG (Germany).

In March 2021, This particular company has attributed the market growth in terms of revenue and shares system. The open access VideJournal of Sports Medicine (VJSM) is a teaching and learning platform that uses videos. It was created by the American Orthopaedic Society for Sports Medicine (AOSSM) with the goal of delivering best practices in sports medicine for the care of athletes and active individuals.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD billion)

Segmentation By Device Type

Surgery Devices

Bone Reconstruction Devices

Body Support Devices

Others

By Application

Knee

Head & Neck

Shoulder

Ankle & Foot

Wrist & Elbow

Others

By End User

Hospitals

Specialty Clinics

By Geography

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)