The global sports medicine market size is predicted to have a value of US$ 6.8 billion in 2022, with a projected Compound Annual Growth Rate (CAGR) of 5.3%, leading it to reach US$ 11.4 billion by 2032. Body reconstruction products are expected to dominate the market with an approximate 81.3% share in 2021. The realm of sports medicine is expanding rapidly as its practitioners assist not only athletes but also a broader population in matters concerning health and athletic performance. Sports medicine integrates scientific knowledge and practice to regulate health and athletic performance, straddling the line between science and practice in promoting health and scientific assessment, analysis, and understanding of sports performance.
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The sports medicine market is being propelled by technological advancements such as 3-D printed implants, which provide a faster recovery time and reconstruct fractured bones. 3-D printing is also used to manufacture safety devices such as casts, footwear, shin guards, and helmets to prevent concussions. These technological breakthroughs are expected to significantly boost the sports medicine market over the forecast period.
The high demand for minimally invasive surgeries and an increasing number of sports medical centers will shape the growth and development of the sports medicine market. The use of computer-assisted robotic operations to decrease hospital stay and recuperation time will complement the market’s growth.
According to an FMI analyst, “Increasing awareness regarding fitness and technological advancements in regenerative medicine are expected to drive demand in the sports medicine field over the forecast period.”
Key Takeaways:
- Due to the growing use of implants and prostheses during reconstruction surgeries, body reconstruction products are the main product segment, accounting for roughly 81.3% of the market value in 2021.
- Due to the existing high frequency of ACL rupture as the most prevalent kind of a knee injury, the knee injuries segment is predicted to lead in terms of application of sports medicine, with a projected market value share of roughly 27.4% by 2032.
- North America is regarded as the leading region, with a value share of 31.0% by the conclusion of the projection period, owing to the region’s high frequency of sports injuries and increased awareness of physical fitness.
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Market Competition
To gain a competitive edge in the market, manufacturers are relying on a variety of strategic initiatives such as innovative product launches, mergers and acquisitions, accreditations, strategic alliances, and partnerships.
Top Key Players Covered-Arthrex, Inc., DePuy Synthes (J&J), Smith & Nephew Plc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Olympus Movement Performance, Karl Storz, Tornier N.V., Wright Medical Group N.V., DJO Global, Ossur HF, Medtronic Plc, CONMED Corporation, Mueller Sports Medicine, Inc., Cayenne Medical, NuOrtho Surgical Inc., Ottobock,, RTI Surgical, NuVasive®, Inc.
Because the sports medicine market is consolidated, bigger firms control a large portion of the revenue. Pricing, quality, and product diversification are all key determinants in market development. Some recent developments include:
- In April 2021, Smith & Nephew added new fluid management and 4K surgical imaging technologies to their sports medicine wireless arthroscopic tower.
- Stryker introduced Insignia® Hip Stem at the American Academy of Orthopedic Surgeons (AAOS) annual meeting in March 2022.
- Zimmer Biomet and Canary Medical announced in August 2021 that the FDA had granted them permission to launch the world’s first and only smart knee implant.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the sports medicine market in its latest study, presenting a historical demand assessment of 2017 to 2021 and projections for 2022 to 2032.
Key Market Segments Covered in Sports Medicine Industry Research
By Product:
- Body Reconstruction Products
- Arthroscopy Devices
- Arthroscope and Visualization System
- Resection System
- Fluid Management System
- Implants
- RF System
- Drills and Fixation System
- Meniscal Repair Device
- Prosthetic Devices
- Orthobiologics
- Arthroscopy Devices
- Body Support and Recovery Products
- Braces and Supports
- Compression Clothing
- Accessories
By Application:
- Knee Injuries
- Shoulder Injuries
- Ankle & Foot Injuries
- Back & Spine Injuries
- Elbow & Wrist Injuries
- Hip Injuries
- Others
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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