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LONDON, June 15, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Sports Medicine Devices Market Report 2023, the market will grow from $6.8 billion in 2022 to $7.4 billion in 2023, at a compound annual growth rate (CAGR) of more than 8%. Further, the sports medicine device market will reach $9.8 billion in 2027, with a CAGR of more than 7%. North America was the largest region in the sports medicine device market in 2022,

One of the key drivers of the sports medicine device industry is the increasing incidence of sports injuries. These injuries encompass various types of wounds that commonly occur during athletic activities. Sports medicine devices not only aid in injury treatment but also find applications in performance training, physical therapy, and injury prevention.

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Major sports medicine devices companies are Arthrex Inc., Conmed Corporation, DJO LLC, Johnson & Johnson Services Inc., Stryker, Smith+Nephew, Mueller Sports Medicine Inc., Zimmer Biomet, Wright Medical Group NV, and Kubota Pharmaceutical Holdings Co. Ltd.

Technological advancements is a key trend that is gaining traction in the sports medicine device market. Major companies in the industry are focusing on the development of innovative technologies.

For instance, Smith & Nephew, a UK-based medical technology company, launched the JOURNEY II Medial Dished (MD) in September 2021. This product stands out due to its ability to provide more natural kinematics regardless of the presence or absence of the posterior cruciate ligament (PCL). The entire JOURNEY II collection is designed to emulate the normal forms, postures, and mobility of a healthy knee.

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The global sports medicine devices market is segmented as-

1) By Product: Orthopedic Devices, Body Reconstruction And Repair, Body Support And Recovery, Body Monitoring And Evaluation, Accessories

2) By Orthopedic Product: Artificial Joint Implants, Arthroscopy Devices, Fracture Repair Devices, Prosthesis, Orthobiologic

3) By Recovery And Support Product: Braces, Performance Monitoring Devices, Accessories, Other Recovery Products

4) By Application: Knee Injury, Shoulder Injury, Ankle-Foot Injury, Back-Spine Injury, Hand-Wrist Injury, Hip-Groin Injury, Arm-Elbow Injury

5) By End Users: Ambulatory Surgical Centers, Hospitals, Orthopaedic Clinics, Other End Users

The sports medicine devices market report provides a comprehensive analysis of the global sports medicine device market, highlighting its projected growth and key trends. By examining the market size, compound annual growth rate, and regional dynamics, this report offers valuable insights into the current and future state of the industry. The report serves as a crucial resource for industry professionals, market participants, investors, and researchers seeking a deeper understanding of the global sports medicine device market. Its insights and analysis provide a solid foundation for decision-making, enabling stakeholders to stay ahead in a rapidly evolving and highly competitive industry.

Sports Medicine Devices Global Market Report 2023 by The Business Research Company provides insights on the sports medicine devices market size, sports medicine devices market segments, sports medicine devices market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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