Sports injuries are more likely to occur as young people participate in more sports-related activities. Additionally, athletics has gained acceptance as a practical way to maintain physical fitness and fight lifestyle disorders as a result of the increased awareness of health issues. As a result, the number of sports-related injuries and muscle tears has increased, increasing the need for therapeutic procedures and products.
According to Data Bridge Market Research, Global Sports Medicine Market was USD 5.34 billion in 2022, would rocket up to USD 9.12 billion by 2030 and is expected to undergo a CAGR of 6.90% during the forecast period 2023 to 2030.
"Growing demand for wearable devices surge market demand"
Sports medicine has benefited from the expanding use of wearable technology, which includes fitness bands, other sensors, and tools for monitoring stress load and preventing fatigue-related injuries in athletes. For instance, Athletigen Technology, Inc., a performance-based business in Nova Scotia, collaborates with numerous athletes to improve their performance and health and lower the frequency of sports-related injuries by using the data gathered from their DNA. Over the course of the forecast period, such events are anticipated to spur market growth.
What restraints the growth of the sports medicine market?
"Lack of skilled professionals can impede the market growth”
Sports medicine is a young, developing field that lacks qualified medical personnel to manage it. A lack of properly qualified professionals exists. Because there are so few professionals who specialize in this area, the need to address the high increase in sports-related injuries is still unmet. As a result, it is a significant market restraint.
Segmentation: Global Sports Medicine Market
The global sports medicine market is segmented on the basis of products, application, procedure and end user.
- On the basis of products, the sports medicine market is segmented into body reconstruction products, body support, and recovery products.
- On the basis of application, the sports medicine market is segmented into knee, hip, shoulder and elbow, foot and ankle, hand and wrist, back and spine injuries, other injuries.
- On the basis of procedure, the sports medicine market is segmented into knee arthroscopy procedures, hip arthroscopy procedures, shoulder and elbow arthroscopy procedures, foot and ankle arthroscopy procedures, hand and wrist arthroscopy procedures, others.
- On the basis of end user, the sports medicine market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers, others.
Regional Insights: North America dominates the Global Sports Medicine Market
North America is expected to dominate the sports medicine market owing to the extensive network of healthcare facilities, the presence of major market players, the growing government initiative to encourage athletes to play any sport, the rise in sports-related injuries among athletes, and the rising volume of research activities.
Asia-Pacific is expected to witness significant growth during the forecast period owing due to the increase in public awareness campaigns, the region's sizable population, the growing influx of new products and treatment options brought on by the government's active involvement in influencing sports activities, and the rising need for high-quality healthcare.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-sports-medicine-market
Recent Developments in Global Sports Medicine Market
- In 2022, It was announced by DJO Global that its collaboration with PFATS, the Professional Football Athletic Trainers Society, had been extended. An organization for professional football athletic trainers is called the Professional Football Athletic Trainers Society (PFATS). Within the framework of its partnership with DJO, PFATS will endorse and recommend particular DJO products.
- In 2020, Six cutting-edge products from Anika Therapeutics Inc. that cater to orthopedic and sports medicine surgeons' needs have received approval from the U.S. Food and Drug Administration. The products will eventually be made available for purchase.
The Prominent Key Players Operating in the Global Sports Medicine Market Include:
- Arthrex, Inc (U.S.)
- Smith+Nephew (U.K.)
- Stryker (U.S.)
- Breg Inc. (U.S.)
- DJO LLC (U.S.)
- Mueller Sports Medicine, Inc (U.S.)
- Wright Medical Group N.V. (U.S.)
- Medtronic (Ireland)
- RTI Surgical (U.S.)
- Performance Health (U.S.)
- KARL STORZ (Germany)
- Bauerfeind (Germany)
- Össur (Iceland)
- MedShape (U.S.)
- Cramer Products (U.S.)
- Agilent Technologies, Inc (U.S.)
- RôG Sports Medicine (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of sports medicine market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Sports Medicine Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
