Sports medicine market to reach $8.9 billion by 2028, according to Global Market Insights Inc.

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The sports medicine industry is expected to register a CAGR of approximately 7% between 2022 and 2028, propelled by increasing participation in sports among adults and children, coupled with an increasing incidence of sports injuries.

SELBYVILLE, Del., February 28, 2022 /PRNewswire/ — Global Sports Medicine market value should exceed $8.9 billion by 2028, according to a new research report by Global Market Insights Inc. Rising attention and awareness for sports activities and fitness will drive the growth of the industry.

sports medicine market

The focus of research organizations and institutes on the development of sports medicine will provide unprecedented growth opportunities for the industry. For example, the American College of Sports Medicine seeks to enhance and integrate scientific research to provide practical and educational applications of sports medicine. Additionally, increasing demand for minimally invasive surgeries and growing number of healthcare institutions offering such specialized treatments will bolster the expansion of the market.

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In recent years, the significant increase in the number of sports activities has also led to an increase in injury cases, thus influencing the demand for sports medicine products. Excessive training and practice can lead to fatigue, muscle tension, cramps or tissue wear. Ignoring these conditions at the initial stage leads to serious injuries in the longer term. Thus, the prevalence of these injuries with increasing participation in sports will have a positive impact on company revenue.

Some major findings of the Sports Medicine Market report include:

  • The adoption of advanced technologies in the treatment of sports injuries will favor the business landscape.

  • The expansion and development of specialist center infrastructure to cater to a wide range of patients will have a positive impact on the market.

  • The growing interest in the field of sports in emerging countries will be a major factor impacting the industry scenario.

  • Increased government funding to ensure athlete safety will support industry demand.

  • The market witnessed positive growth in 2021 with declining prevalence of COVID-19 in several countries. Government efforts to expand vaccination coverage and authorization of sports activities with preventive guidelines have helped to maintain the market share.

Browse key industry information spread across 150 pages with 132 market data tables and 11 report figures and graphs“Analysis of the Sports Medicine Market by Product (Implants, Fracture and Ligament Repair Products, Arthroscopic Devices, Prosthetics), Injury Type (Knee, Shoulder, Foot and Ankle Injuries , Back & Spine, Hip & Groin), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share and Forecast, 2022-2028” in detail with the table of contents:
https://www.gminsights.com/industry-analysis/sports-medicine-market

Arthroscopy Devices Segment Sports Medicine Market Valued on $1.3 billion in 2021 due to the increasing prevalence of sports injuries in which the arthroscopic procedure avoids total arthroplasties. Additionally, recent advances in arthroscopic techniques have provided advantages in more complex procedures and offered less invasive alternatives to patients. Compared to open procedures, this resulted in shorter hospital stays and rapid recovery. Smaller incisions, less pain, less trauma, and low rate of infection are some of the benefits that should drive the preference for arthroscopic procedures. Thus, the increase in procedural volume will accelerate the demand for products, thereby increasing the market revenue in the coming years.

The shoulder injury segment held more than 15% market share in 2021. A significant increase in the number of shoulder injuries, especially among throwing athletes, will influence the product demand in the future. Additionally, swimming, throwing, and tennis are some of the sports that frequently involve repetitive and excessive motion overhead, thus contributing more to the number of shoulder injuries. Therefore, recurrent shoulder injuries during physical and sports activities increase the demand for products. However, the availability of advanced devices in the industry to provide effective treatment will determine the business prospects.

Asia Pacific The sports medicine market is expected to grow at a CAGR of 7.9% during the forecast period. Growing awareness of the importance of sports medicine coupled with increasing participation of individuals in sports and physical activities will result in rapid adoption of the products throughout the region. The expansion of well-equipped sports medicine centers to offer advanced specialized treatments will further drive the market demand. In addition, the implementation of favorable reimbursement policies will have a positive impact on the volume of procedures. For example, Johnson & Johnson Medical (Shanghai) Limited (JJMS), collaborated with Taikang Online Insurance Co. Ltd. to create an innovative sports injury insurance package. Thus, the above-mentioned factors will provide unprecedented growth opportunities to the Asia Pacific industry.

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Major players operating in the sports medicine industry include Stryker Corporation, Arthrex, Wright Medical Technology, Otto Bock Healthcare, Zimmer Biomet, Smith & Nephew, Breg, Inc, Muller Sports, Inc, RTI Surgical, Performance Health International Limited, KARL STORZ, Bauerfeind AG, CONMED Corporation, Johnson & Johnson, Ossur Corporate, Creamer Product, Inc and DJO Global, among others. These players implement various strategies such as collaborations, new product launches, and partnerships to gain competitive advantage.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, in the United States, is a global provider of market research and consulting services, offering syndicated and custom research reports as well as growth consulting services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights Inc.
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Global Market Insights, Inc. (PRNewsfoto/Global Market Insights, Inc.)

Global Market Insights, Inc. (PRNewsfoto/Global Market Insights, Inc.)

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