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Global Sports Medicine Market was valued at US$ ~7 billion in 2022 and is expected to grow at a decent rate of ~6% by 2027

Medi-Tech Insights
Medi-Tech Insights

Medi-Tech Insights: Growing cases of sports injuries, increasing technological advancements and multiple new product innovations in sports medicine, rising demand for minimally invasive surgeries, developments in regenerative medicine and increasing awareness on physical fitness and sports activities are some of the prime factors driving the growth of the sports medicine market.

Global Sports Medicine Market (2022-2027)

Global Sports Medicine Market
Global Sports Medicine Market

BRUSSELS, BELGIUM, Jan. 17, 2023 (GLOBE NEWSWIRE) --

Description:

Sports medicine is an umbrella term representing a broad array of specialties which bridge the academic disciplines of medicine and physical education as well as the basic sciences.

A Slowdown in the Demand for Sports Medicine Points to A Looming Recession

The recession's negative impact on young adults' physical activity highlights the need for policymakers to consider the impact of major economic downturns on the physical activity of young adults. Due to the looming recession, patients are expected to delay minimally invasive surgical procedures including sports. Companies will likely witness a slight drop in their orthopaedic robotic system sales as hospitals might tighten their spending amid an economic slowdown and a looming recession risk.

Potential of Sports Medicines in the Treatment of Sports Injuries Boosts the Sports Medicine Market

Sporting injuries are inevitable for anyone who actively engages in physical activity. Development in regenerative medicine in the sporting arena focuses predominantly on cartilage, tendon, ligament, meniscal, and skeletal muscle injuries. The future contains a trend toward prevention through genetics, nutrigenomics, and numerous monitors and wearables in sports medicine which is further expected to drive the global sports medicine market in the forecasted period.

                  

Growing Emphasis on Developing New Advanced Sports Medicine Products

There have been many recent advancements in the products category of sports medicine such as rotator cuff repair, high altitude simulation training, anti-gravity treadmill, exoskeletons, virtual and augmented reality, and hip/knee arthroscopy that are revolutionizing the sports medicine market. For instance, in November 2022, Smith+Nephew announced the introduction of its JOURNEY II ROX Total Knee Solution – a reverse hybrid construct for total knee arthroplasty.

Growing Cases of Youth Sports Injuries Fuels the Global Sports Medicine Market

More than 3.5 million children under age 14 receive medical treatment for sports injuries each year. Young athletes especially those younger than 8 are more prone to sports injuries than adults. Injuries to the face or head are more common and account for 27% of high school sports injuries. Sports injuries in children must be treated properly by using different sports medicine techniques so that children can get back to their regular activities and avoid developing any chronic pain or long-term injuries.

Upcoming Market Challenges: Sports Medicine Market

The inflated cost of sports medicine & other devices, shortages of skilled & trained professionals, and a global shortage of some raw materials & components are some of the major factors which are likely to hamper the growth of the sports medicine market in the upcoming years.

North America is Expected to Continue to Hold a Major Share in the Sports Medicine Market

From a geographical perspective, North America holds a major market share of the sports medicine market. This can be mainly attributed to the growing incidence of sports-related injuries and muscle tears, the rising usage of absorbable implants, and improved sports healthcare infrastructure in the region.

Competitive Landscape Analysis: Sports Medicine Market

Some of the established players operating in the global sports medicine market are as follows: -

  • Arthrex Inc.

  • DePuy Synthes

  • Stryker Corporation

  • CONMED Corporation among others

Organic and Inorganic Growth Strategies Adopted by Leading Market Players to Establish Their Strong Foothold in the Sports Medicine Market

All key players operating in the global market are adopting organic and inorganic growth strategies such as collaborations, acquisitions and new product launches to garner a larger market share. For instance,

  • In July 2022, Oxford Performance Materials, Inc (OPM) announced an agreement with Fuse Medical, Inc (Fuse) to develop new, world-class spinal, extremity, and sports medicine implant product lines utilizing OPM’s patented OsteoFab PEKK technology.

Explore Detailed Insights on Sports Medicine Market with TOC @ https://meditechinsights.com/sports-medicine-market/

About Medi-Tech Insights:

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

Contact Us:

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com

https://meditechinsights.com/

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