As per our report, the global sports medicine market size was worth USD 7.23 billion in 2020. The market is estimated to be growing at a CAGR of 8.1% and will reach USD 10.67 billion by 2025. The burgeoning number of sports injuries throughout the world is to drive the sports medicine market growth.
Sports such as Football/soccer, Basketball, Baseball, Volleyball, Wrestling, Water sports, Cricket, Ice hockey, Rugby, and Bicycling are causing most sports injuries worldwide. As per Livewell, the Patellofemoral Syndrome (knee), Shoulder Injury, Tennis or Golf Elbow, Hamstring Strain (thigh), Sciatica (feet), Shin Splints (lower leg bone), Groin Pull (thigh), Concussion (brain), ACL Tear or Strain (ligament of the knee) and Hip Flexor Strain (thigh) are the most common injuries in sports.
Sports medicines can help prevent, diagnose, and treat sports injuries. The goal of sports medicine is to provide athletes with information about sports injuries, knowledge of sports injury prevention measures, and sports injury treatment and rehabilitation. Sport pharmaceuticals target all professionals involved in improving the performance and health of sports activists.
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Number of Sports Injuries by Sport in 2017, |
|
|
SPORT |
Number of Injuries in the United States (Treated in Hospital Emergency Departments) |
|
Basketball |
500,085 |
|
Football |
341,150 |
|
Soccer |
218,926 |
|
Baseball, Softball |
187,447 |
|
Lacrosse, Rugby, Misc. Ball Games |
73,829 |
|
Volleyball |
51,653 |
|
Horseback Riding |
48,796 |
|
Hockey |
44,353 |
|
Water Skiing, Tubing, Surfing |
20,463 |
|
Boxing |
17,293 |
MARKET DRIVERS:
The growing sports-related injuries and technological advancements in the treatment procedures are the major forces driving the global sports medicine market.
An increasing number of casualties with sports, technological advances in sports medicine equipment, increased government budget allocations in the sports sector, and the penetration of key players into emerging markets primarily boost the global sports medicine market growth. The growing focus of private and government organizations on developing infrastructure for sports, increasing scholarships, and corporate funds for athletes help the sports medicine market grow.
The prevalence of sports injuries in the Asia Pacific region is high. For example, at the 2010 Guangzhou Summer Asian Games, 430 athletes reported 725 casualties. Among them, 288 of the 209 athletes started fresh, with 45.5 injuries per 1,000 athletes.
In Australia, football is the most competitive sport, with more than 3,000 athletes were in the hospitals between 2011 and 2012 from around 13,000 clubs. At the same time, more than 36,000 Australians over the age of 15 were hospitalized for sports injuries. Therefore, the high incidence of sports injuries in this region is likely to boost its sports medicine market.
Recent technological enhancements in health care and pharmaceutical industries, the continually rising rate of injuries and accidents, and the emergence of 3D implants push the demand for sports medicines. Emerging economies of countries like the United States, China, the United Kingdom, India, the U.A.E, and others are to provide lucrative opportunities for the growth of the global sports medicine market.
MARKET RESTRAINTS
In developing countries, there is no fully developed medical facility due to low economic growth. The health care costs of governments in these countries are also relatively low, and acceptance of these products is quiet. The lack of sports culture is also a factor limiting the growth of the market. The markets in these countries are also susceptible to prices. The factors mentioned above are impeding the demand of the market.
The prosthetic testing for medical staff and lack of clear guidelines on hormones are the main challenges in the global sports medicine market. The high cost of new procedures and sub-standard infrastructure in some developing countries constrain the market's growth. Additionally, lack of proper guidelines regarding the medicines, unavailability of trained professionals, and disproportionate administration are further restraining the market growth.
COVID 19 impact on the sports medicine market:
COVID 19 pandemic has affected many lives in an unpredicted manner. All the sports activities have been postponed due to lockdown restrictions. The International Olympic Committee has postponed Tokyo Olympics and Paralympic to 2021. These factors limited the growth rate of the sports medicine market. According to the survey, around 28.4 million surgeries were postponed or canceled due to COVID 19 in 2020. However, the demand for the market will grow by 2021.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By product, application, and region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global sports medicine market has been segmented & sub-segmented the market based on the product, application, and region.
Sports Medicine Market - By Product:
Based on product type, the reconstruction and repair segment is predicted to lead the market due to the growing awareness of sports injuries. This segment is witnessing a CAGR of 7.1% between 2020 to 2025. Growing usage of implants, fracture, and ligament repair products in the treatment procedures drive the market growth.
The support and recovery product segment to have a healthy CAGR during the forecast period. In 2019, this segment was worth over 1 billion USD.
Sports Medicine Market - By Application:
Based on the application, the knee injuries segment was the market leader in 2019 and will continue its dominating trend throughout the forecast period. High possibility of meeting with the knee injuries in most sports and the rising adoption of minimally invasive surgeries in the treatment procedures to drive the growth for this segment.
Sports Medicine Market - By Region:
In 2019, North America was the global sports medicine market leader, with over 40% market share. The United States is the leading force globally, but Asia has a huge potential, considering the population figures and growing incidences of sports-related injuries. Factors such as well-organized healthcare infrastructure, integrated with the high amount spent, and the accessibility of advanced technological medical devices for treating various diseases are majorly supporting the market in North America. The U.S. was leading the market and predicted to hold its leading position throughout the forecast period, followed by Canada.
Europe positioned 2nd in leading the majority of the shares in the market. Developed economies such as the United States, United Kingdom, Germany, Spain, France, Italy, and Japan, with their dominant sporting cultures, occupy about three-fourths of the global sports medicine market. The UK is holding the largest share of the market due to the growing demand for sports activities worldwide. Germany's market owes to the increasing amount spent on healthcare, and Italy sports medicine market growth is due to the need to launch new products with new advances. The latest technologies are likely to boost the market over the period.
The Asia-Pacific region records the fastest growth in the forecast period, with continued development in sports medicine acceptance in countries such as China, Japan, and South Korea. The relatively strict regulatory process for product approval in these countries makes it easier for advanced products and medical devices to enter this market.
KEY MARKET PLAYERS:
Noteworthy companies leading the global 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.
Key market participants invest hugely in Research and Development to create innovative and effective solutions for sports injuries. For example, Nova Scotia's performance-based company, Athletigen Technology, Inc., has worked with various athletes to use information gathered in DNA to improve performance and reduce the incidence of sports-related injuries. Like the initiatives mentioned above by various companies are to drive market growth during the forecast period.
MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
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