alarming rise in prevalence of sports related injuries in young generation, advancements in pharmaceutical for manufacturing of sport medicine, rise in demand for sport medicine devices, and increase in number of approvals for sport medicine and instruments are expected to notably contribute toward growth of the global sports medicine market during the forecast period
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According to a new report published by Allied Market Research, titled, “sports medicine market by product and application: global opportunity analysis and industry forecast, 2021–2030,”the global sports medicine market size was valued at $8519 billion in 2020, and is estimated to reach $12862 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
Sports medicine is a branch of the healthcare industry that deals with physical fitness of people involved in sports. Sports medicine involves prevention and treatment of injuries related to sports and exercise. Common sport injuries include anterior cruciate ligament (ACL) tears, ankle sprains, muscle cramps, and shin splints. Demand for sports medicine has increased, owing to active participation of athletes in different kinds of sports across different countries. Various aspects of sports medicine such as indulging in sports activities for fitness, recommendations for physical training, sports injury prevention, and treatment contributes to the sports medicine market growth.
The COVID-19 was declared as a pandemic in the start of the year 2020. This was followed with strict lockdowns and containment restriction in more than 200 countries across the globe. Hence, this lead to serious disruptions in every business across each industry globally. For instance, lockdown restrictions led to closure of non-essential business worldwide and only essential businesses such as healthcare facilities with focus on COVD-19 treatment operated during the pandemic.
Key Findings Of The Study
- By product, the body reconstruction & repair products segment was the highest contributor to the sports medicine market in 2020.
- On the basis of application, the knee injuries market dominated the sports medicine market in 2020, and is expected to continue this trend during the forecast period.
- Region wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
North America accounted for the largest share of the sports medicine in 2020, and is expected to continue this trend during the forecast period. This is attributed to the increase in active participation in sports by people in various countries of this region. In addition, various market players focus on opportunities offered by sports industry of this region.
The sports medicine industry is segmented on the basis of product, application, and region. By product, it is classified into body reconstruction & repair products, body support & recovery products, body monitoring & evaluation, and accessories. Body reconstruction & repair products are sub-segmented into implants, arthroscopy devices, fracture and ligament repair devices, prosthetic devices, and orthobiologics. Further, body support & recovery products are sub-segmented into thermal therapy products, brace and support devices, and compression clothing. Body monitoring and evaluation is sub-segmented into cardiac monitoring & evaluation, respiratory monitoring & evaluation, hemodynamic monitoring & evaluation, muscoskeletal monitoring & evaluation, and other monitoring & evaluation.
Key Market Segments
- By Product
- Body Reconstruction and Repair
- Implants
- Arthroscopy Devices
- Fracture and Ligament Repair Devices
- Prosthetic Devices
- Orthobiologics
- Body Support and Recovery
- Thermal Therapy Products
- Brace and Support Devices
- Compression Clothing**Monitoring Devices
- Others
- Body Monitoring and Evaluation Devices
- monitoring and evaluation devices
- Respiratory monitoring and evaluation devices
- Hemodynamic monitoring and evaluation devices
- Muscoskeletal monitoring and evaluation devices
- Other monitoring and evaluation devices
- Accessories
- Body Reconstruction and Repair
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