According to Renub Research, The Sports Medicine Market is anticipated to be priced at around US$ 10.34 Billion by 2030. Sports medicine plays a pivotal role in healthcare by addressing the specialized wishes of athletes and active individuals. It specializes in preventing, diagnosing, treating, and rehabilitating sports activity-related accidents and conditions, providing the most reliable physical performance and well-being. Sports medicine experts hire interdisciplinary techniques, including orthopedics, physical remedies, nutrients, and sports activity psychology, to optimize athletic performance and prevent injuries. Medicinal drugs complement people's standard fitness and athletic ability by providing customized care and know-how tailored to the particular demands of sports activities and physical pastime ability.
Sports Medicine Market is foreseen to grow at a CAGR of 6.04% between 2024 and 2030
The growing participation of young individuals in sports activities drives growth within the sports medicine market. According to Johns Hopkins University, 30 million people take part in some sports activities, and over 3.5 million accidents are pronounced annually in the U.S. With more individuals undertaking athletic endeavors, sports activity-associated injuries increase, necessitating specialized hospital therapy and treatment. Sports medicine professionals cater to this growing demand by imparting injury prevention, rehabilitation, and overall performance enhancement services. Further, advancements in sports activities remedy technology and techniques bolster the market boom, providing revolutionary solutions to address the evolving wishes of athletes and energetic people.
The global sports medicine market is marked by regular innovation and ongoing improvement, continually introducing new technologies and techniques. One fantastic trend is the increasing popularity of minimally invasive processes, which decrease patient pains and fatigue. Genomics and personalized medicine advancements allow tailor-made treatment plans for athletes primarily based on their genetic makeup. Precision fitness techniques contribute to more powerful damage prevention and treatment strategies. Recognizing this shift in patient desire, market players strategically invest in growing and adopting modern technologies. These investments aim to enhance treatment outcomes and improve the sports medicine market position. Hence, the sports medicine market was US$ 6.86 Billion in 2023.
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Developing economies such as India and China have large population of patients, which can provide sizable opportunities for sports medicine experts. The industry is anticipated to grow due to government tasks encouraging physical interest and sports activities. China has a national health plan to increase regular workouts. The goal is 38.5% and US$ 773.6 Billion for the sports activities sector by 2025 to propel the improvement of the sports medicine market. Several strategic collaborations to fund and implement new and improved technology also open up appealing market possibilities. For instance, Athletigen Technology, Inc. is an agency based in Nova Scotia that allows athletes to improve their fitness and performance by analyzing their DNA statistics. This way, the possibilities of getting injured while playing sports are decreased.
One of the top products in the sports medicine market is body reconstruction and repair
By product, the sports medicine market is fragmented into Body Reconstruction Repair, Accessories, Body Monitoring Evaluation, and Body Support Recovery. Body reconstruction and repair are among the leading products in the sports medicine market. This is because of its essential role in addressing sports-related injuries. This category encompasses several methods and strategies to restore and reconstruct broken tissues, ligaments, and joints, restoring capability and permitting athletes to return to their game safely and swiftly. With the growing occurrence of sports activity injuries globally, the demand for robust reconstruction and repair solutions continues to rise, driving the prominence of this segment in the sports medicine market.
Knee injuries are one of the most common issues addressed in the sports medicine market
By application, the sports medicine market is segmented into Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Hip and Groin Injuries, Elbow and Wrist Injuries, Back and Spine Injuries, and Others. Knee injuries rank among the leading applications in the sports medicine market. This is because of their prevalence and effect on athletic performance. The knee is primarily liable to injuries at some point in sports activities due to its complex shape and the stress placed on it at some stage in dynamic moves. As a result, conditions like ligament tears, meniscal injuries, and cartilage damage are common among athletes. Sports medication experts are conscious of appropriately diagnosing and treating knee injuries. They use many surgical and non-surgical remedies to repair knee parts and help athletes return to playing.
Hospitals could possibly emerge as significant players in the sports medicine industry
By end-user, the sports medicine market is categorized into Hospitals, Ambulatory Surgery Centers, Physiotherapy Centers, and Clinics. Hospitals might become a leading segment in the sports medicine market. This is due to the fact they, in general, offer specialized clinical care for sports activities-related accidents. Hospitals also provide tailor-made diagnostic, remedy, and rehab offerings for athletes and enthusiastic individuals. Their ability to provide contained care contributes to their prominence in the sports medicine market.
United States can potentially become a leader in the global sports medicine market
By country, the sports medicine market is divided into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, the Netherlands, and Turkey), Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, and New Zealand), Latin America (Brazil, Mexico, and Argentina), Middle East Africa (Saudi Arabia, the UAE, and South Africa). The United States could lead the market for sports medicine. This is due to millennials' growing infatuation with workout and health. There is a growing want for sports medicine in the state.
According to US Department of Health and Human Services findings, 8.6 million sports accidents occur yearly, growing the want for Sports Medicine Devices and driving the American sports medicine market. Also, a well-advanced healthcare infrastructure, increased spending, and availability of technologically premium clinical instruments to treat diverse orthopedic wounds are influential aspects pushing the market. For example, Stryker introduced Citrefix in 2022, a suture anchor system for foot ankle surgeries that uses Citregen, a material that mimics native bone for natural healing and bone regeneration.
Key Players
The sports medicine market is comprised of companies like Zimmer Biomet Holdings, Inc., Medtronic Plc., Smith Nephew Plc., Stryker, Novartis AG, Johnson Johnson Services, Inc., CONMED Corporation, Surgalign Holdings.
- In October 2023 - Smith+Nephew introduced the REGENETEN Bioinductive Implant in Japan, which provides a fresh healing option for individuals suffering from rotator cuff tears. This implant is easy to use and helps patients recover quickly.
- In March 2023 - Arthrex, Inc. received clearance from the U.S. FDA 510(k) for the TightRope Implant. The device is used for orthopedic injuries and is the only one cleared for pediatric ACL surgery.
- In June 2022 - Mueller Sports Medicine launched the SKY Ankle Stabilizer to prevent chronic ankle instability and provide healthy ankles for players in vertical jumping sports. The ankle stabilizer addressed causal factors of inversion sprains and biomechanics.
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