Sports Medicine Market Size By Products (Implants, Fracture and Ligament Repair Products, Arthroscopy Devices, Prosthetics), By Injury Type (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Back and Spine Injuries, Hip and Groin Injuries), Indus

Sports Medicine Market Size By Products (Implants, Fracture and Ligament Repair Products, Arthroscopy Devices, Prosthetics), By Injury Type (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Back and Spine Injuries, Hip and Groin Injuries), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The sports medicine market is set to witness robust growth by 2030 on account of increasing incidences of sports-related injuries. In addition, growing demand for less invasive clinical procedures is also expected to drive market growth through the forecast period.

Notably, major players in the sector are increasingly trying to adopt profitable strategies and focus on product innovation to gain a better business standing, thereby improving overall sports medicine market dynamics. For instance, in June 2022, Life Wear Technologies, a leading supplier of sports medicines, introduced CleanPrene, the first sustainable joint support for sports injuries. Made with bio-based materials like plant oils and oyster shells as well as recycled materials, CleanPrene doesn’t have the negative impacts of traditional Neoprene. These splint products are available for the elbow, knee, ankle, and wrist, and are touted to be ideal for sensitive skin.

In another notable development, in June 2022, the Children’s Health Andrews Institute for Orthopaedics & Sports Medicine announced the opening of a new sports medicine clinic in Frisco. This clinic was intended to offer treatment for sports injuries and musculoskeletal issues related to tissue, bone, and joints. The clinic was also purposed to offer pediatric care, along with physical therapy for adults.

The sports medicine market has been bifurcated in terms of injury type, product, and region. On the basis of injury type, the market has been segmented into shoulder injuries, back and spine injuries, hip and groin injuries, knee injuries, foot and ankle injuries, and others.

Among these, the back and spine injuries sub-segment exceeded $650.0 million in revenue in 2021 driven by growing participation in sports activities involving the lower back, such as baseball, cycling, golf, and swimming. These sports put a strain on the spine and back, which is supporting segmental expansion.

Based on product, the sports medicine market has been divided into fracture and ligament repair products, prosthetics, implants, arthroscopy devices, and others. The prosthetics sub-segment is expected to witness robust growth at around 6.4% CAGR from 2022 to 2030. Substantial technological advancements in the field of 3D printed prosthetics, coupled with surging awareness pertaining to sports medicine, are likely to benefit the revenue growth of this segment.

On the regional front, the Latin America sports medicine market is set to depict a CAGR of about 5.4% between 2022 and 2030. Growing awareness in developing countries about treatment options for severe sports injuries, increasing participation in fitness and sports activities, and a rise in medical tourism are slated to bolster market growth in LATAM through the forecast timeframe.