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.
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Major companies profiled in the report include Smith & Nephew Plc., Stryker Corporation, Johnson & Johnson (Depuy Mitek), Arthrex, Inc., Conmed Corporation, Zimmer Biomet Holdings, Inc., Breg, Inc., Mueller Sports Medicine, Inc., DJO Global, Inc., and Wright, Medical Group N.V.
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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.
Furthermore, owing to strict worldwide lockdowns in 2020, a number of sports tournaments and sports activities were impacted in an extremely negative manner. Thus, this led to a decline in demand for sports medicine globally. In addition, the negative impact was fueled by a downfall in manufacturing of medicines and disruptions in supply chain of the sports medicine market. However, owing to rise in relaxations in lockdowns leading to surge in number of sport activities throughout the globe has led to recovery in growth of the sports medicine market in the year 2021.
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- 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.
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Electronic Health Records Market
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