Global Sports Medicine Market Size research report 2022 offers in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market.
The global sports medicine market size stood at USD 6.26 billion in 2018 and is projected to reach USD 9.86 billion by 2026, exhibiting a CAGR of 5.8% during the forecast period
Drivers & Restraints
Sports injuries include spondylolysis, fractures, strains and sprains, stingers, disc injury, and Scheuermann’s disease. According to the sports injury statistics, published by STANFORD CHILDREN’S HEALTH, in the United States, about 30 million kids and teenagers participate in various organized athletics . Almost one-third of all injuries incurred in childhood are games-related injuries. Additionally, according to National Health Statistics Reports published by the CDC in 2016, an average of 8.6 million sports and recreation-related injuries were reported in the U.S. Anatomical locations of the injuries reported during sports and recreation activities included the high percentage of injuries in lower extremity followed by upper extremity and head and neck.
This study provides information about the sales and revenue during the historic and forecasted period of (2022 to 2028). Understanding the segments helps in identifying the importance of different factors that aid market growth. Estimations about the CAGR value for specific forecast period, market drivers, market restraints, and competitive strategies are assessed in this Sports Medicine Market report.
This report focuses on Sports Medicine Market volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Sports Medicine Market market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
An Overview of the Impact of COVID-19 on this Market:
The advancement of COVID-19 has conveyed the world to a stop. We fathom that this prosperity crisis amazingly influences associations across ventures. Nevertheless, everything fortunate or unfortunate should reach a conclusion. There are a couple of organizations that are fighting and some are thriving. By and large, essentially every region is relied upon to be impacted by the pandemic.
We are advancing incessant endeavors to help your business support and create during COVID-19 pandemics. Considering our experience and expertise, we will offer you an impact examination of Covid episode across ventures to help you with preparing for what’s to come.
Key players covered in the global Sports Medicine Market research report:
- Arthrex, Inc.
- Smith & Nephew
- CONMED Corporation
- Zimmer Biomet
- Johnson & Johnson Services, Inc.
- KARL STORZ SE & Co. KG
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Increasing awareness regarding physical fitness among adult group and children is augmenting the global market forecasts
Several sports activities and competitions undertaken in schools are increasing the demand for sports medicine. According to the Centers for Disease Control (CDC) every year in the U.S., approximately 30 million teenagers and children participate in some form of sports activity. Furthermore, sports-related injuries account for one-third of all childhood injuries. As a result, the active participation of children in sports activity, combined with the rising incidence of sports injuries, will stimulate the sports medicine market growth over the coming years.
Introduction of new games in professional sports leagues and other international games will further accelerate the business landscape. For instance, the international Olympic committee introduced few new sporting activities in the Tokyo 2020 games. These games included surfing, sport climbing, karate, and others. Therefore, introduction of such sports activities in international sports events will open new market opportunities.
According to the National Safety Council (NSC), around 425,910 injuries were reported due to bicycle and its accessories in the year 2020, with maximum injuries recorded in children aged between 5 to 14 years old. It has been estimated that sports in high school accounted for 3.5 million injuries in the U.S every year. Therefore, rising incidence of fracture and ligament tear will favor the segmental expansion in near future.
Ankle injuries are one of the most common injuries experienced by high school children and adults. This will benefit the segmental growth. According to the National Safety Council (NSC) statistics reported in 2017 around three million injuries were reported in the U.S due to sports and use of recreational equipment.
The knee application segment dominated the market for sports medicine and held the largest market share in 2019, as there has been a continuous upsurge in the number of knee injuries. Knee injuries are very common injuries reported during sports or other physical activities. This is because excessive running and jumping lead to wear and tear of the knee joint. As per the British Journal of Sports Medicine, knee injury is very common and accounts for around 41% of the total sports injuries.
Moreover, this segment is also anticipated to be the fastest growing with a CAGR of 8.9% over the forecast period. There are various advanced treatments including dry needling, soft tissue massage, osteopathic manipulation, platelet-rich plasma therapy, and arthroscopic surgeries for knee repair. This availability of a wide number of treatments and the growing incidence of knee injuries are some of the major factors driving the segment growth.
Key Companies & Market Share Insights
Arthrex, Inc. dominated the market for sports medicine in 2019, with the highest market share, followed by Smith and Nephew and Stryker. These players have built a vast product portfolio and created their presence in all major countries. Moreover, they are constantly upgrading their products to attract new consumers, which is further contributing to their high market share. Some other prominent players are Zimmer Biomet, Wright Group N.V., and DJO Global.
Global Sports Medicine Market Segmentation
This report forecasts revenue growth at the global, regional, and country-level and provides an analysis of the latest industry trends in each of the sub-segments from 2022 to 2029. For the purpose of this study, GVR has segmented the global sports medicine market report on the basis of product type, application, and region.
- Natural substance providers
- Administrative bodies, including government organizations and NGO
- Business innovative work (RandD) establishments
- Merchants and exporters
- Government associations, research associations, and counseling firms
- Exchange affiliations and industry bodies
- End-use enterprises
Major Table of Contents for Sports Medicine Market Research Report:
- Executive Summary
- Market Dynamics
- Key Market Growth Insights
- Global Market Analysis, Insights and Forecast, 2017-2028
- North America Market Analysis, Insights and Forecast, 2017-2028
- Europe Market Analysis, Insights and Forecast, 2017-2028
- Asia Pacific Market Analysis, Insights and Forecast, 2017-2028
- The Middle East and Africa Market Analysis, Insights and Forecast, 2017-2028
- Latin America Market Analysis, Insights and Forecast, 2017-2028
- Competitive Landscape
- Global Sports Medicine Market Revenue Growth, Industry Share Analysis, By Key Players, 2021
- Company Profiles
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