Sports Medicine Practitioners in the US - Industry Market Research Report

Sports Medicine Practitioners in the US - Industry Market Research Report

Sports Medicine Practitioners in the US

Perceived as a luxury service for elite athletes in the past, the Sports Medicine Practitioners industry has gained wide public acceptance and become more accessible to most Americans in recent years. Sports medicine is a special branch of medicine that focuses on the diagnosis, treatment and prevention of injuries and illnesses resulting from sports, exercise or recreational activities. The industry has grown over the past five years. This results from increased participation in sporting activities, increased insurance coverage over the past decade and a steady improvement in consumers' ability to spend on services. However, the pandemic outbreak challenged the industry, which disrupted the athletic calendar and forced many individuals to postpone treatment, decreasing demand for services in 2020. Over the past five years, revenue has been growing at a CAGR of 1.6%, and is expected to reach $29.1 billion in 2023. This includes an expected 1.0% increase in 2023. Profit is expected to slump to 14.8% of revenue in 2023, down from 15.4% in 2018.

Establishments in this industry provide health and special services that apply medical and scientific knowledge to prevent, recognize, manage and rehabilitate injuries related to sport, exercise or recreational activity.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.