In this Sports M edicine Market market report, industry trends have been explained on the macro level which makes it possible to summarize the market landscape and probable future issues. The report analyses and estimates general market drivers in the form of consumer demand, government policy and demand which are related to consumer buying pattern and thereby market growth and development. This market research report contains thorough analysis of market and numerous related factors that range from market drivers, market restraints, market segmentation, opportunities, challenges, and market revenues to competitive analysis. Sports Medicine Market report is also useful when launching a new product or expanding the business regionally or globally.
Data Bridge Market Research analyses that the Global sports medicine market, which 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. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market overview:
The countries covered in the sports medicine market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the sports medicine market because of the huge base of healthcare facilities, the existence of major players in the market, a growing government initiative to surge the athletes for playing any of the sport, increased cases of sports injuries among the athletes and increasing number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the rise in government initiatives to raise awareness, the large population base, the increasing influx of new products and treatment modalities because of active government participation in influencing sports activities and the growing demand for quality healthcare in the region.
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.)
Global Sports Medicine Market Dynamics
Drivers
- Growing Incidence of sports-related Injuries
Sports injuries are very prevalent worldwide. For instance, the Guangzhou Summer Asian Games in 2010 stated 725 injuries among 430 athletes. There were around 288 new injuries in 209 athletes, with an occurrence rate of 45.5 injuries per 1,000 athletes exposed. Soccer is the most popular sport in Australia, and more than 3,000 athletes from more than 13,000 clubs were admitted to hospitals between 2011 and 2012. Thus, this increasing incidence is increasing the demand for sports medicine rapidly. Therefore this factor boosts the market growth.
- Increasing Demand for Wearable Devices
The growing use of wearable devices such as fitness bands and other sensors helps monitor stress load and prevent fatigue-induced injuries in athletes, which has supported the growth of the market for sports medicine. For instance, Athletigen Technology, Inc., a performance-based company in Nova Scotia, works with numerous sportsmen to utilize the collected information on their DNA to enhance their performance and health and decrease the prevalence of sports-related injuries. Such instances are expected to boost market growth over the forecast period.
Opportunities
- Increasing Product Launches by Market Players
The launches of several novel products associated with sports medicine are anticipated to boost the market's growth over the forecast period. For instance, Smith and Nephew launched its new product called ''HEALICOIL KNOTLESS Suture Anchor'' in 2020. This product, along with REGENESORB Material, supports in-bone formation and healing. Therefore, the growing number of product approvals is also anticipated to increase market growth.
- Rising Incidence of Knee Injuries
Knee injuries are very prevalent and reported during sports or other physical activities. This is due to excessive running and jumping, which further leads to wear and tear of the knee joint. According to the British Journal of Sports Medicine, knee injury accounts for about 41% of total sports injuries. Thus, the increasing rate of knee injuries leads to the higher adoption of sports medicine, boosting market growth.
Restraints/Challenges
- Lack of Skilled Professional
Sports medicine is a new, evolving branch that does not have the proper professionals to handle it. There is a shortage of properly skilled professionals. With the high increase in sports-related injuries, the need to address them is still not fulfilled because very few people specialize in this field. As a result, it is a major restraint in the market.
This sports medicine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sports medicine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2022, DJO Global announced the renewal of its partnership with the Professional Football Athletic Trainers Society (PFATS). The Professional Football Athletic Trainers Society (PFATS) is a professional football athletic trainers organization. PFATS will recommend and approve specific DJO products as part of its collaboration with DJO.
- In 2020, Anika Therapeutics Inc. received the U.S. Food and Drug Administration clearance for six innovative products that meet the needs of orthopedic and sports medicine surgeons. The products are planned to be commercialized in the future.
Global Sports Medicine Market Scope
The sports medicine market is segmented on the basis of product, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Body Reconstruction
- Fracture and Ligament Repair Products
- Arthroscopy Devices
- Implants
- Orthobiologics
- Prosthetics
- Body Support and Recovery
- Braces and Supports
- Physiotherapy
- Thermal Therapy
- Ultrasound Therapy
- Laser Therapy
- Electrostimulation Therapy
- Body Monitoring and Evaluation
- Cardiac Monitoring
- Respiratory Monitoring
- Hemodynamic Monitoring
- Musculoskeletal Monitoring
- Compression Clothing
- Accessories
- Bandages
- Disinfectants
- Tapes
- Others
Application
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Hip and Groin Injuries
- Elbow and Wrist Injuries
- Back and Spine Injuries
- Others
End-User
- Hospitals
- Orthopedic Specialty Clinics
- Fitness and Training Centers
- Ambulatory Surgical Centers (ASCs)
- Others
Sports Medicine Market Regional Analysis/Insights
The sports medicine market is analysed and market size insights and trends are provided by country, product, application and end-user as referenced above.
The countries covered in the sports medicine market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the sports medicine market because of the huge base of healthcare facilities, the existence of major players in the market, a growing government initiative to surge the athletes for playing any of the sport, increased cases of sports injuries among the athletes and increasing number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the rise in government initiatives to raise awareness, the large population base, the increasing influx of new products and treatment modalities because of active government participation in influencing sports activities and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Sports Medicine Market Share Analysis
The sports medicine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to sports medicine market.
Some of the major players operating in the sports medicine market are:
- 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.)
Browse More About This Research Report @ Sports Medicine Market Size, Segmentations Trends to 2030 (databridgemarketresearch.com)
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
Get the Full Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-sports-medicine-market
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