The global sports medicine market size was US$ 6.1 billion in 2021. The global sports medicine market is forecast to grow to US$ 10.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 30.
Sports medicine encompasses the treatment, physical fitness, and prevention of injuries brought on by exercise and sports. Sports medicine focuses on offering effective medical care to athletes and other sports professionals. Healthcare professionals who specialize in sports medicine have obtained specialized training to treat athletes and help injured athletes regain function so they can get back on the field as soon as possible.
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Factors Influencing the Market
The rising cases of sports-related injuries will fuel the growth of the global sports medicine market. In addition, growing initiatives by government bodies aimed at offering efficient medical services to athletes will also boost the growth of the global sports medicine market during the forecast period. Government-sponsored programs in sports medicine increase athlete participation all across the world. Additionally, a rise in demand for minimally invasive procedures supports market expansion.
Ligament rips and fractures occur often among sports participants. The growing interest in sports activities will contribute to the growth of the market. Apart from that, rising awareness related to the efficient treatment for a sports injury will escalate the growth of the market. In addition, growing technological advancements in the medical field will offer ample opportunities for market growth.
COVID-19 Impact Analysis
The sports medicine market witnessed a drastic drop in terms of revenue. The growth of the market is attributed to the sudden decline in the number of sports activities. The government-imposed restrictions halted sports activities, and almost every centre closed its doors. Thus, it affected the demand for sports medicine. In addition, the COVID-19 virus has a significant threat to lives, which prohibited people from going to public places. Thus, it ultimately decreased the demand for sports medicine.
Regional Analysis
North America is forecast to dominate the sports medicine market. The growth of the market is attributed to the rising interest of youth in sports activities. Furthermore, growing investments by government bodies and private firms in this sector will benefit the sports medicine market during the study period. Apart from that, the presence of a well-developed healthcare infrastructure and the availability of technologically sophisticated medical devices will fuel the growth of this region’s sports medicine market during the forecast period.
Competitors in the Market
• Breg, Inc.
• Smith & Nephew Plc
• Stryker Corporation
• Johnson & Johnson
• Arthrex, Inc.
• Conmed Corporation
• Zimmer Biomet Holdings, Inc.
• Mueller Sports Medicine, Inc.
• Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Sports Medicine industry experienced notable growth in its workforce. Starting in January, employment within the Sports Medicine sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Sports Medicine output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Sports Medicine output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Sports Medicine market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Sports Medicine market.
Market Segmentation
The global sports medicine market segmentation focuses on Product, Application, End-User, and Region.
By Product
• Body Reconstruction Products
o Fracture and Ligament Repair Products
o Arthroscopy Devices
o Implants
o Prosthetic Devices
o Orthobiologics
• Body Support and Recovery Products
o Braces and Supports
o Compression Clothing
• Physiotherapy Equipment
o Thermal Therapy
o Electrostimulation
• Other Therapies
o Ultrasound Therapy
o Laser Therapy
• Accessories
By Application
• Knee Injuries
• Shoulder Injuries
• Foot and Ankle Injuries
• Elbow and Wrist Injuries
• Back and Spine Injuries
• Hip and Groin Injuries
• Other Injuries
By End-User
• Hospitals
• Ambulatory Surgery Centres
• Physiotherapy Centres and Clinics
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
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