29 Oct Global Sports Medicine Market 2020-2025: Developments in the Field of Regenerative Medicine & Rising Demand for Minimally Invasive Surgeries
DUBLIN, Oct. 28, 2020 /PRNewswire/ — The “Global Sports Medicine Market by Product (Body Reconstruction, Body Support & Recovery), Application (Knee Injuries, Shoulder Injuries, Foot & Ankle Injuries), End User (Hospitals, Physiotherapy Centers & Clinics) and Region – Analysis & Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global sports medicine market is projected to reach USD 7.2 billion by 2025 from USD 5.5 billion in 2020, growing at a CAGR of 5.7%.
This report studies the sports medicine market based on product, application, region and end user. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders.
Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
“The Body Support & Recovery Products segment is expected to grow at the highest rate during the forecast period.”
On the basis of product, the global sports medicine market has been segmented into body reconstruction products, body support & recovery products, and accessories. The body reconstruction products segment is further divided into fracture and ligament repair products, arthroscopy devices, implants, prosthetics, and orthobiologics.
Similarly, body support & recovery products include braces & support, physiotherapy equipment, and compression clothing. The body reconstruction products segment is expected to grow at the highest CAGR during the forecast period. Braces & supports are required before and after procedures involving reconstruction. The demand for these devices is growing due to their requirement in the treatment of the majority of the sports injuries.
“The knee injuries segment is expected to hold the largest share during the forecast period.”
On the basis of application, the sports medicine market is segmented into knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries, back & spine injuries, hip & groin injuries, and other injuries. The knee injuries segment is expected to account for the largest share of this market. The large share of this segment can be attributed to knee injuries being the most common sports injury accounting for approximately 40% of all injuries.
“The Hospitals segment is expected to account for the largest share during the forecast period.”
Based on end user segment, the market is segmented into Hospitals, Ambulatory Surgery centers and Physiotherapy Centers 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.
“The North American sports medicine market is expected to hold the largest market during the forecast period.”
Geographically, the sports medicine market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The North American market is expected to hold the largest share while Asia Pacific is to account for the highest CAGR of 6.1% during the forecast period. The rising popularity of sports and physical activity, growing awareness regarding the prevention & treatment of sports injuries, and increasing investments in sports medicine are the key factors driving the North American sports medicine market.
Impact of COVID-19 Pandemic on the Sports Medicine Market
The sports medicine market is a growing healthcare field owing to the rise in popularity of several sports activities and relevant opportunities. However, the erstwhile growing market has come to a standstill as most of the sporting events and activities have been put on hold because of the COVID-19 outbreak. Hospitals which are the largest growing end user segment have seen an incline in the treatment of COVID-19 cases which in turn has led to cancellation or rescheduling of sports related orthopedic injuries. The growth of the sports medicine market is hampered because of the novel coronavirus but is expected to be restored once the situation stabilizes.
- Increasing Incidence of Sports Injuries
- The Continuous Influx of New Products and Treatment Modalities
- Developments in the Field of Regenerative Medicine
- Rising Demand for Minimally Invasive Surgeries
- High Cost of Orthopedic Implants and Other Devices
- 3D-Printed Implants
- Expansion and Market Penetration Opportunities in Emerging Economies
- Dearth of Skilled Professionals
- Impact of the COVID-19 Pandemic on the Sports Medicine Market
- Arthrex, Inc.
- Bauerfeind AG
- Breg, Inc.
- Conmed Corporation
- Cramer Products
- Depuy Synthes Companies (Part of Johnson & Johnson)
- DJO Global, Inc. (Subsidiary of Colfax Corporation)
- Karl Storz GmbH & Co. KG
- Medtronic plc
- Mueller Sports Medicine, Inc.
- Performance Health International Limited
- RG Sports Medicine
- RTI Surgical Holdings, Inc.
- Smith & Nephew plc
- Stryker Corporation
- Wright Medical Group
- Zimmer Biomet Holdings, Inc.
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