(PharmaNewsWire.Com, December 14, 2020 ) Growth in the sports medicine market is primarily driven by factors such the increasing incidences of sports injuries, continuous influx of new products & treatment modalities, developments in the field of regenerative medicine, rising demand for minimally invasive surgeries.
The sports medicine market is expected to grow from USD 5.5 billion in 2020 to USD 7.2 billion by 2025, at a CAGR of 5.7% during the forecast period.
On the basis of products, the sports medicine market is segmented into body reconstruction products (fracture & ligament repair products, arthroscopy devices, implants, prosthetics, orthobiologics), body support & recovery products (braces & support, physiotherapy equipment, and compression clothing), and accessories.
The body support & recovery products segment is expected to witness the fastest growth during the forecast period. Products such as braces, supports, and physiotherapy equipment are required before and after procedures involving reconstruction. Thus, the demand for these devices is growing due to the increasing number of sports injuries globally.
Sports medicine is widely used for the prevention of sports injuries as well as for the cure, recovery, and rehabilitation of athletes. The sports medicine applications market is segmented into knee injuries, shoulder injuries, foot & ankle, elbow & wrist, back & spine, hip & groin, and other injuries.
The knee injuries segment held the largest share of the market in 2019, a trend that is expected to continue during the forecast period. The large share of this segment can be attributed to the fact that a large number of knee injuries are recorded across major sports, globally, accounting for approximately 40% of all injuries due to sports.
Based on end user segment, the market is segmented into Hospitals, Ambulatory Surgery centres and Physiotherapy Centres and Clinics. The hospitals segment accounted for the largest share of the sports medicine market.
The large share of this segment can be attributed to factors like Complex diagnostic and therapeutic procedures being carried out in hospitals. However, the physiotherapy centres and clinics segment is estimated to register the highest CAGR of 6.9% during the forecast period, primarily due to the cost-effectiveness and easy accessibility of sports medicine equipment.
Region Covered in Sports Medicine Market
Factors such as the rising popularity of sports and physical activity, increasing awareness regarding the prevention & treatment of sports injuries, and growing investments in sports medicine are driving the North American sports medicine market.
The major vendors in the global sports medicine market include Arthrex, Inc (US), Smith & Nephew plc (UK), Stryker Corporation (US), Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany), and Bauerfeind AG (US), Össur (Iceland), MedShape (US), Cramer Products (US), Biotek ( India), RôG Sports Medicine (US).
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