Sports Medicine Market
Sports Medicine Market Expected to Reach $12 Billion by 2030 | CAGR of 5.1%
PORTLAND, OREGON, UNITED STATE, July 18, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “sports medicine market by product and application: global opportunity analysis and industry forecast, 2021–2030,”the global sports medicine market size was valued at $8519 billion in 2020, and is estimated to reach $12862 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
Alarming rise in prevalence of sports related injuries in young generation, advancements in pharmaceutical for manufacturing of sport medicine, rise in demand for sport medicine devices, and increase in number of approvals for sport medicine and instruments are expected to notably contribute toward growth of the global sports medicine market during the forecast period
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Sports medicine is a branch of the healthcare industry that deals with physical fitness of people involved in sports. Sports medicine involves prevention and treatment of injuries related to sports and exercise. Common sport injuries include anterior cruciate ligament (ACL) tears, ankle sprains, muscle cramps, and shin splints. Demand for sports medicine has increased, owing to active participation of athletes in different kinds of sports across different countries. Various aspects of sports medicine such as indulging in sports activities for fitness, recommendations for physical training, sports injury prevention, and treatment contributes to the sports medicine market growth.
The COVID-19 was declared as a pandemic in the start of the year 2020. This was followed with strict lockdowns and containment restriction in more than 200 countries across the globe. Hence, this lead to serious disruptions in every business across each industry globally. For instance, lockdown restrictions led to closure of non-essential business worldwide and only essential businesses such as healthcare facilities with focus on COVD-19 treatment operated during the pandemic.
Key Findings Of The Study
By product, the body reconstruction & repair products segment was the highest contributor to the sports medicine market in 2020.
On the basis of application, the knee injuries market dominated the sports medicine market in 2020, and is expected to continue this trend during the forecast period.
Region wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Key Market Segments
By Product
Body Reconstruction and Repair
Implants
Arthroscopy Devices
Fracture and Ligament Repair Devices
Prosthetic Devices
Orthobiologics
Body Support and Recovery
Thermal Therapy Products
Brace and Support Devices
Compression Clothing**Monitoring Devices
Others
Body Monitoring and Evaluation Devices
Cardiac monitoring and evaluation devices
Respiratory monitoring and evaluation devices
Hemodynamic monitoring and evaluation devices
Muscoskeletal monitoring and evaluation devices
Other monitoring and evaluation devices
Accessories
By Application
Knee Injuries
Shoulder Injuries
Ankle and Foot Injuries
Back and Spine Injuries
Elbow and Wrist Injuries
Hip Injuries
Other Injuries
Key Market Players
Arthrex Inc.
CONMED Corporation,
DJO Global,
Johnson & Johnson
Mueller Sport Medicine
Orthofix International N.V
Smith & Nephew Plc.
Stryker Corporation
Wright Medical group
Zimmer Biomet Holdings ,Inc
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The factors that drive the growth of sports medicine market is driven by increase in incidences of sports injuries. This is attributed to surge in sports activities and events across the globe, which, in turn, contributes toward rise in incidences of sports related injuries. Furthermore, novel and advanced sports medicine products are being introduced into the market, which leads to surge in demand for sports medicine drives growth of the sports medicine market. In addition, surge in developments in the field of regenerative medicine and rise in demand for minimally invasive surgeries. In addition, easily accessible and advanced treatment products related to sports medicine for quick and easy recovery supplements growth in demand for sports medicine.
North America accounted for the largest share of the sports medicine in 2020, and is expected to continue this trend during the forecast period. This is attributed to the increase in active participation in sports by people in various countries of this region. In addition, various market players focus on opportunities offered by sports industry of this region.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Allied Analytics LLP
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