Sports Medicine Market Outlook: Trends And Predictions By 2022 To 2032

By Author: sanket badgujar
Total Articles: 2
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In 2022, the Sports Medicine Market is predicted to be worth US$ 6.8 billion. By 2032, the market will be worth US$ 11.4 billion, growing at a CAGR of 5.3%. According to the forecast, body reconstruction products would hold a market share of approximately 81.3% in 2021.

Approximately 6.5 billion US dollars were spent on sports medicine in 2021, and it is projected to increase at a CAGR of nearly 5.3% over the next five years. Sports medicine is a rapidly expanding medical profession since the assistance provided by sports medicine doctors is not just limited to athletes but to a wider community as well. The use of scientific theory and practises to regulate health and athletic performance is what gives sports medicine its start. Sports medicine bridges the gap between research and practise by advancing health and by examining, analysing, and comprehending sports performance scientifically.

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Technology advancements like 3-D printed implants are a major market ...
... driver. Faster healing times and the ability to repair broken bones are now possible thanks to 3-D printing. With the aid of 3-D printing, ears, hands, legs, and even arms can be produced. Among the safety equipment produced utilising 3-D technology are footwear, shin guards, and helmets to assist prevent concussions and casts to aid in the faster healing of broken bones. Thus, during the course of the projected period, technological improvements are anticipated to greatly increase the sports medicine market.

High demand for minimally invasive procedures and a growing number of sports medical facilities will shape the growth and development of the sports medicine market. The use of computer-assisted robotic procedures to shorten hospital stays and recovery periods will increase, which will support market expansion.

“Growing awareness regarding fitness, and technological advancements in regenerative medicine are anticipated to propel the demand in the sports medicine hemisphere over the forecast period,” says an FMI analyst.

Key Takeaways:

Body reconstruction products are the leading product segment, and hold approximately 81.3% market value share in 2021, owing to the widespread adoption of implants and prosthetics during reconstruction surgeries.
Knee injuries segment is set to lead in terms of application of sports medicine, a projected market value share of around 27.4% by 2032, owing to the existing high metrics of ACL rupture as the most common form of a knee injury.
North America is considered the leading region with a value share of 31.0% at the end of the forecast period, owing to the high prevalence of sports injury, and rising awareness regarding physical fitness in the region.

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.

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
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