Sports Medicine Market Zooms Towards Billion-Dollar Valuation: Estimated to Reach USD 9.48 Billion by 2030: Verified Market Research®
The "Global Sports Medicine Market Size By Product (Body Reconstruction Products, Body Support and Recovery Products), By Application (knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries), By End-User (hospitals, ambulatory surgery centers), By Geographic Scope & Forecast, 2023-2030" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Sports Medicine Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., May 18, 2023 /PRNewswire/ -- The Global Sports Medicine Market is projected to grow at a CAGR of 5.61% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 5.81 Billion in 2021 and is expected to reach USD 9.48 Billion by the end of the forecast period.
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Browse in-depth TOC on "Sports Medicine Market"
202 - Pages
126 – Tables
37 – Figures
Sports Medicine Market to Witness Substantial Growth Driven by Increasing Sports Participation and Rising Demand for Injury Management
The global sports medicine market is poised for significant expansion in the coming years, fueled by the growing prevalence of sports-related injuries and the rising popularity of sports and fitness activities worldwide. Sports medicine, also known as sport and exercise medicine (SEM), encompasses a range of treatments and products tailored to athletes and sports staff. These include fracture and ligament repair products, implants, arthroscopy devices, ortho biologics, prosthetics, and physiotherapy equipment used in the management of ankle sprains, fractures, knee and shoulder injuries, tendonitis, and more.
The surge in sports participation and fitness consciousness has led to an increase in sports injuries globally. Sports activities have gained higher acceptance among the population, surpassing traditional exercise and health-related activities. Consequently, there has been a rise in the number of fractures and ligament tears, necessitating injury management and rehabilitation. As the influx of professional and casual players in sports continues to grow, the demand for sports medicine is witnessing a significant upswing, creating substantial growth opportunities for the global sports medicine market and generating higher revenue during the forecast period.
Among the various segments of the sports medicine market, knee injuries accounted for the largest market share in 2020 and are expected to maintain this dominance throughout the projection period. Additionally, the body support & recovery products segment anticipates the most accelerated growth during the forecast period. This segment includes supports, braces, and physiotherapy equipment required before and after procedures involving reconstruction.
North America is projected to be the dominant region in the sports medicine market, primarily due to increasing government initiatives aimed at encouraging athletes to engage in various sports activities. Furthermore, numerous manufacturers are launching new and advanced technology-based sports medicine products in the region, contributing to its market dominance.
Prominent players in the global sports medicine market include:
- Smith & Nephew
- Zimmer Biomet
- Bird & Cronin
- Wright Medical Group N.V.
- Össur Corporate
- Mueller Sports Medicine
- Ceterix Orthopaedics
- General Electric Company
- KFx Medical LLC.
- MedShape, Inc.
- Osiris Therapeutics, Inc.
- NuVasive, Inc.
These key players have demonstrated their commitment to innovation, quality, and customer satisfaction, driving the market forward. They are actively involved in financial statements, product benchmarking, SWOT analysis, and key development strategies to maintain their competitive edge.
In conclusion, the global sports medicine market is poised for substantial growth, driven by the increasing participation in sports and fitness activities and the rising demand for injury management and rehabilitation. As new and advanced sports medicine products continue to be developed and introduced by key market players, the industry is expected to thrive and provide enhanced healthcare solutions for athletes and sports enthusiasts worldwide.
Based on the research, Verified Market Research® has segmented the global Sports Medicine Market into Product, Application, End-User, And Geography.
- Sports Medicine Market, by Product
- Body Reconstruction Products
- Fracture and Ligament Repair Products
- Arthroscopy Devices
- Body Support and Recovery Products
- Braces and Supports
- Compression Clothing
- Physiotherapy Equipment
- Sports Medicine Market, by Application
- Knee injuries
- Shoulder injuries
- Foot & ankle injuries
- Elbow & wrist injuries
- Back & spine injuries
- Hip & groin injuries
- Other injuries
- Sports Medicine Market, by End-User
- Ambulatory surgery centers
- Physiotherapy centers and clinics
- Sports Medicine Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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