Sports Medicine Market Status and Prospects 2022 to 2032 | By Arthrex, Tornier, CONMED, Medtronic, NuVasive
The global Sports Medicine Market revenue is expected to be worth US$ 6.8 billion in 2022, with a compound annual growth rate (CAGR) of 5.3%, rising to US$ 11.4 billion by 2032. Body reconstruction products are predicted to dominate the market in 2021, accounting for around 81.3% of the total. Sports Medicine is fast developing as practitioners help not only players but also a broader community with health and athletic performance issues. Sports Medicine combines scientific knowledge and practise to manage health and athletic performance, straddling the border between science and practise in health promotion and scientific assessment, analysis, and understanding of sports performance.
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Technological breakthroughs such as 3-D printed implants, which give a quicker healing period and rebuild damaged bones, are propelling the Sports Medicine business. 3-D printing is also utilised to create safety items such as casts, boots, shin guards, and concussion helmets. Over the forecast period, these technological advances are expected to significantly increase the Sports Medicine market.
The growing number of sports medical centres and the increased demand for minimally invasive surgeries will shape the growth and development of the Sports Medicine industry. The adoption of computer-assisted robotic procedures to reduce hospital stays and recovery time will help the market flourish.
According to an FMI analyst, “Increasing awareness regarding fitness and technological advancements in regenerative medicine are expected to drive demand in the Sports Medicine field over the forecast period.”
- Body reconstruction products are the most important product segment, accounting for around 81.3% of the market value in 2021, owing to the increasing usage of implants and prostheses during reconstruction surgeries.
- Because ACL rupture is the most common type of knee injury, the knee injuries category is expected to lead in terms of Sports Medicine application, with a projected market value share of around 27.4% by 2032.
- Because of the region’s high frequency of sports injuries and greater awareness of physical fitness, North America is recognised as the leading region, with a value share of 31.0% by the end of the projected period.
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To gain a competitive edge in the market, manufacturers are relying on a variety of strategic initiatives such as innovative product launches, mergers and acquisitions, accreditations, strategic alliances, and partnerships.
Top Key Players Covered-Arthrex, Inc., DePuy Synthes (J&J), Smith & Nephew Plc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Olympus Movement Performance, Karl Storz, Tornier N.V., Wright Medical Group N.V., DJO Global, Ossur HF, Medtronic Plc, CONMED Corporation, Mueller Sports Medicine, Inc., Cayenne Medical, NuOrtho Surgical Inc., Ottobock,, RTI Surgical, NuVasive®, Inc.
Because the Sports Medicine market is consolidated, bigger firms control a large portion of the revenue. Pricing, quality, and product diversification are all key determinants in market development. Some recent developments include:
- In April 2021, Smith & Nephew added new fluid management and 4K surgical imaging technologies to their Sports Medicine wireless arthroscopic tower.
- Stryker introduced Insignia® Hip Stem at the American Academy of Orthopedic Surgeons (AAOS) annual meeting in March 2022.
- Zimmer Biomet and Canary Medical announced in August 2021 that the FDA had granted them permission to launch the world’s first and only smart knee implant.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Sports Medicine market in its latest study, presenting a historical demand assessment of 2017 to 2021 and projections for 2022 to 2032.
Key Market Segments Covered in Sports Medicine Industry Research
- Body Reconstruction Products
- Arthroscopy Devices
- Arthroscope and Visualization System
- Resection System
- Fluid Management System
- RF System
- Drills and Fixation System
- Meniscal Repair Device
- Prosthetic Devices
- Arthroscopy Devices
- Body Support and Recovery Products
- Braces and Supports
- Compression Clothing
- Knee Injuries
- Shoulder Injuries
- Ankle & Foot Injuries
- Back & Spine Injuries
- Elbow & Wrist Injuries
- Hip Injuries
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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