Global Sports Medicine Market Poised to Value Over USD 13.1 Billion by 2026 End

  • 24 Sep 2019

Global sports medicine market is forecasted to value over USD 13.1 Billion by 2026 end and register a CAGR of over 7.5% from the forecast period 2019-2026.

 Factors such as changing lifestyle and increasing sports injuries are significantly increasing the sports medicine market size. The growing prevalence of chronic diseases across the globe has resulted in a huge part of the population opting for a healthy lifestyle, thus positively influencing the market. As per the figures released by the Physical Activity Council, around 64% of individuals participated in fitness, 6% more than it was in 2013. In addition, continuous events imposed by health ministries and NGOs such as marathons are stimulating the sports medicine market growth.

The market is bifurcated into product, application, and region. In terms of product, body reconstruction and repair holds a major sports medicine market share. Body reconstruction and repair consist of devices like soft tissue repair equipment, bone reconstruction device and surgical equipment. The growing usage of ligament and fracture devices coupled with increasing usage of arthroscopy devices for performing minimally invasive surgeries is boosting the market growth.
Based on application, the knee segment is the leader of the market. The rise in a number of knee surgeries coupled with the growing number of injuries in sport is boosting the segment which in turn is increasing the sports medicine market size.

In terms of region, North America is the global leader of the market. Increasing focus towards improvement in healthcare and the presence of prominent players is inflating the market in the region. The presence of developed infrastructure alongside rising focus towards trauma and other related injuries is driving the market in the region. Besides, the availability of trained professionals and good reimbursement coverage is also escalating the market in the region.

Asia-Pacific region is expected to show exponential growth due to increasing demand from emerging economies like Japan, India, and China. Rapidly increasing medical tourism in countries like Japan and India is increasing the sports medicine market size in the region. Additionally, Asia-Pacific Knee Arthroscopy and Sports Medicine Society's constant efforts to educate healthcare professionals and promoting recent transformation are complementing the growth of the market.

Major players of the market are Wright Medical Technology, DJO Global, Tornier N.V, Arthrex, DePuy Orthopaedics, Zimmer Biomet Holdings, Smith & Nephew Plc, Breg, Inc and Stryker Corporation. 

Competitive Landscape:
●     In a bid to strengthen its grip over the market, Mitek Sports Medicine, a division of DePuy Orthopaedics launched VAPR radiofrequency device
●     Arthrex collaborated with Clemson University, US to provide 10 scholarships worth USD 7500 each for students who will opt for internships and courses aimed at the needs of surgical device sector

Global Sports Medicine Market Segmentation:
By Product 

●     Body Reconstruction & Repair
▪      Surgical Equipment
▪      Soft Tissue Repair
▪      Bone Reconstruction Devices
●     Body Support & Recovery
▪      Braces & Other Support Devices
▪      Compression Clothing
▪      Hot & Cold Therapy
●     Body Monitoring and Evaluation
▪      Cardiac
▪      Respiratory
▪      Hemodynamic
▪      Musculoskeletal
▪      Others
●     Accessories
▪      Bandages
▪      Tapes
▪      Disinfectants
▪      Wraps
▪      Others

By Application: 
●     Knees
●     Shoulders
●     Ankle and Foot
●     Back and Spine
●     Elbow and Wrist
●     Hip
●     Others

By Region
●     North America
●     Europe
●     Asia Pacific
●     Latin America
●     Rest of the World

FutureWise Key Takeaways
●  Growth Prospects
●  SWOT Analysis
●  Key Trends
●  Key data-points affecting market growth

Objectives of the Study
• To provide with an exhaustive analysis on the global sports medicine market by product, by application and by region 
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market 
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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