Sports Medicine Market

The Exactitude Consultancy Sports Medicine Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2029

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 28, 2023 /EINPresswire.com/ -- The “Sports Medicine “Market Research analysis presents estimations of growth, size, and projections for each market segment, accompanied by trends and forecasts based on revenue (in USD million)

Sports medicine is a branch of medicine that deals with physical fitness, injury treatment, and prevention in sports and exercise. Sports medicine is the field that promotes a good environment in which an athlete can convert all of his genetic potentials into phenotypic realities. Sports medicine encompasses a wide range of medical practices related to physical and sporting activity. It is the branch of medicine concerned with physical fitness as well as the treatment and prevention of sports and exercise-related injuries. It focuses on sports performance enhancement, injury care, and prevention. It includes preventative measures like injury prevention as well as treatments like rehabilitation and osteopathy. Sports medicine practitioners use preventive measures such as conditioning and injury prevention, rehabilitation, injections, and other treatments such as osteopathic manipulation. The rise in sports injuries, consistent innovation of new products and treatment modalities, and growth in healthcare expenditure are propelling the development of the sports medicine market.

The global sports medicine market size was exhibited at USD 8.5 billion in 2022 and is expected to be worth around USD 13.34 billion by 2029, growing at a CAGR of 5.1% from 2023 to 2029.

Top companies covered in this report:  Arthrex Inc., CONMED corporation, DJO global, Johnson & Johnson, Mueller Sport Medicine, Orthofix International N.V, Smith & Nephew Plc., Stryker Corporation, Wright Medical group, and Zimmer Biomet Holdings Inc.

Industry News:

In August 2021, The ROSA^® hip system from Zimmer Biomet was given FDA approval for robotically assisting direct anterior total hip arthroplasty.

In June 2021, In Switzerland, an orthopaedic implants developer Mathys AG Bettlach was acquired by DJO. The company's ability to create and provide orthopaedic technologies for the future generation is aided by this purchase.

In June 2020, Smith & Nephew recently announced the release of INTELLIO Connected Tower Solution, a new product that allows users to manage various sports medicine systems from a distance wirelessly.

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Sports Medicine Market Segmentation:

Sports Medicine Market by Product, 2023-2029, (USD Billion), (Thousand Units)

Body Reconstruction

Body Support & Recovery Products

Body Monitoring And Evaluation Devices

Accessories

Sports Medicine Market by Application, 2023-2029, (USD Billion), (Thousand Units)

Ankle & Foot Injuries

Knee Injuries

Shoulder Injuries

Back & Spine Injuries

Elbow & Wrist Injuries

Hip Injuries

Others

Market Drivers

Sports injuries are becoming more common everywhere, which is directly affecting the market's expansion. This predicts that rising rates of knee injuries, sore muscles, Achilles tendon injuries, pain along the shin bone, rotator cuff injuries, fractures (broken bones), and dislocations are directly influencing the market's growth. According to the Board of Certification for Athletic Trainers, an estimated 2 million acute ankle injuries happen each year in the United States. Rising investment in research & development, particularly in developed and developing nations, will further open up attractive market expansion potential for medical instruments and technologies.

Market Restraints

However, the increase in product recalls, and the need for healthcare infrastructure in underdeveloped nations are impeding market expansion. For instance, Zimmer Biomet recalled several medical products in 2016, including bones, surgical screws, implants, and instruments for trauma and sports medicine. Additionally, the total number of medical devices recalls rose by 126% in the first quarter of 2018. Customers' perceptions of a product and a firm become more negative as a result of a product recall, which is currently impeding the market for sports medicine.

Regional Outlook:

The report’s primary insights into various regions and the major companies involved in each one are provided in this section. When evaluating a region’s or country’s growth, economic, social, environmental, technological, and political issues have all been taken into account. Additionally, each country’s and region’s revenue and sales information for the years 2018 through 2029 will be made available to readers.

The market has been divided into four key regions: North America, Europe, Asia-Pacific, and South America. The regional part will include a thorough analysis of important nations like the United States, Germany, the United Kingdom, Italy, France, China, Japan, South Korea, Southeast Asia, and India.

North America led the market for sports medicine with the highest revenue share of 47.1% in 2022. The presence of a well-developed healthcare infrastructure, coupled with high spending and the availability of technologically advanced medical devices to treat various orthopedic injuries, are some of the major factors driving the market. For instance, in December 2022, Stryker introduced Citrefix, a suture anchor system for foot & ankle surgeries that utilizes the company’s Citregen material, which is designed to mimic the chemistry and structure of native bone to support natural healing and bone regeneration.

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The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Sports Medicine market.

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.

Market Development:  Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Sports Medicine market

How big will the market and growth rate be in 2029?

What are the key drivers for the global Sports Medicine market?

What are the major market trends influencing the growth of the global Sports Medicine Market?

What are the challenges for market growth?

Who are the key vendors in the global Sports Medicine market?

What market opportunities and threats are vendors facing in the global Sports Medicine market?

What are the main findings of the five forces analysis of the global Sports Medicine Market?

Conclusion: At the end of the Sports Medicine Market report, all findings and estimates are presented. It also includes key drivers and opportunities and regional analysis. The Segmental analysis is also provided in terms of type and application.

Customization of the report: The report can be customized according to the client’s requirements. Get in touch with our sales experts and we’ll make sure you get a report that fits your needs.

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