The North American Sports Medicine Market's size is predicted to grow at a CAGR of 7.6% from 2023 to 2028. The market size is expected to be USD 2.92 billion in 2023 and USD 4.22 billion by 2028.
Due to the growing prevalence of sports injuries, the constant invention of new goods and treatment modalities, and the rising desire for minimally invasive operations, the market is projected to expand rapidly during the forecast period. Furthermore, government-sponsored sports medicine efforts boost athlete involvement across the region. The growing usage of wearable devices such as fitness bands and other sensors to measure stress load and prevent fatigue-induced injuries in athletes has aided the expansion of the sports medicine market in North America. Ligament injuries and fractures are common in those who participate in sports. In addition, sports injuries to the lower extremities account for a significant part of all injuries in the North American region. Therefore, injury management and rehabilitation are predicted to become more popular, which is expected to react favorably to the expansion of North American sports medicine.
According to current patterns, injury rates are anticipated to rise considerably in the next few years. Furthermore, because sports and physical activities are becoming increasingly popular in the region, the risk of injury is projected to rise. Therefore, the North American sports medicine market is projected to be driven by the high injury rate and increasing injury occurrences. Furthermore, growing public awareness of personal health and a considerable increase in sports participation are just a few reasons propelling the industry forward. Furthermore, various governments' active engagement in supporting sporting activities boosts the market growth. As a result, the demand for sports medicine is estimated to rise throughout the forecast period due to increased sports injuries.
However, the growth of the North American sports medicine market is expected to be hampered by a shortage of skilled specialists and ineffective administration and standards governing sports medicine. This nation's slow development of sports medicine might also be attributed to a lack of sporting culture. Furthermore, this country's markets are significantly price-sensitive. These issues are expected to hinder market expansion.
This research report on the North American sports medicine market has been segmented and sub-segmented into the following categories:
Reconstruction and Repair
Fracture and Ligament Repair Products
Support and Recovery
Braces and Support
Thermal Therapy Products
Topical Pain Relief Products
Other Body Support and Recovery Products
Elbow and Wrist Injuries
Back and Spine Injuries
Hip and Groin Injuries
Foot and Ankle Injuries
The United States
Rest of North America
Regionally, due to the increased government programs to encourage athletes to participate in any activity, North America is anticipated to dominate the global sports medicine market during the forecast period. In addition, several regional firms are introducing innovative and advanced technology-based sports medicine.
The U.S. sports medicine market is the leading force in maintaining its dominating share throughout the forecast period. The United States sports medicine market is expected to dominate and lead the growth of the North American market, which is expected to increase due to an increase in the number of cases of sports injuries among athletes, as well as a massive R&D program in the United States to introduce advanced technology-based sports medicines to provide better treatment and faster recovery for athletes, allowing them to return to their field as soon as possible.
Some key factors driving the U.S. sports medicine market include well-developed healthcare infrastructure, high expenditure, and the availability of technologically improved medical equipment to treat various orthopedic ailments. Furthermore, according to the U.S. Department of Health and Human Services, 8.9 million sports injuries occur each year, with one-third of all injuries occurring in a sports facility, athletic field, or playground. Sprains, strains, and fractures are the most common sports injuries. Implants, primarily used in sports injuries and medicine, account for a substantial percentage of the company's revenue. In addition, it has been noticed that a substantial percentage of the American population participates in sports, and demand is projected to rise steadily as the middle-income population grows.
KEY MARKET PLAYERS:
A few of the most promising companies operating in the North American sports medicine market profiled in this report are Smith & Nephew PLC., Arthrex, Inc., Össur hf, Stryker Corporation, Conmed Corporation, Zimmer Biomet Holdings, Inc., Breg, Inc., Mueller Sports Medicine, Inc., Tornier, Inc., Skins International Trading AG, Wright Medical Technology, Inc., DePuy Mitek, Inc., 3M Company Ace Brand, OttoBock Healthcare GmbH and DJO Global, Inc.
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