Sports Medicine Market Analysis | 2022-2028

“The Sports Medicine Market was estimated at US$ 8.9 billion in 2021 and is expected to grow at a CAGR of 5.01% during 2022-2028 to reach US$ 10.40 billion in 2028”.

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Market Dynamics

Introduction

Sports medicine is a specialized medical field dedicated to preventing, diagnosing, treating, and rehabilitating injuries associated with sports and physical activity.

It adopts a comprehensive, multidisciplinary approach, engaging various healthcare professionals like sports physicians, orthopedic surgeons, physical therapists, and athletic trainers. Beyond addressing immediate injuries, sports medicine also tackles chronic conditions and focuses on optimizing athletic performance.

Market Drivers

Growing government involvement in promoting and encouraging sports activities, along with growing public awareness of personal health, is anticipated to drive the global market statistics. Increased participation in sports could increase the frequency of sports injuries.  The National Safety Council (NSC) reported that more than 400,000 injuries resulting from sports-related activities occurred in the United States in 2019.

In addition, technological developments in the orthopedic market field, such as the 3D printing of implants and the introduction of bionic technology and sensor technology in prosthetic limbs, will provide the sports medicine industry with previously unheard-of growth opportunities over the forecast period.

The National Safety Council (NSC) estimates that 425,910 injuries related to bicycles and their accessories will be reported in 2020, with children between the ages of 5 and 14 experiencing the majority of these incidents. High school athletics are thought to be responsible for 3.5 million injuries in the United States each year. As a result, the expansion is likely to increase soon due to an increase in fractures, ligament tears, and other injuries.

According to Stanford Children's Health, approximately 3.5 million sports injuries are reported each year among the nearly 30 million teenagers and kids who participate in sports in the United States. According to the Board of Certification for Athletic Trainers, there are 2 million acute ankle injuries in the United States every year, which has led to the creation of numerous lucrative chances for the major players in this sector.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

• The number of sporting events and contests held in schools is raising the demand for sports medicine. The Centers for Disease Control (CDC) estimates that 30 million children and teenagers participate in sports activities annually in the United States. Furthermore, sports-related injuries account for one-third of all childhood injuries. As a result, the expansion of the sports medicine market will be influenced by children's active participation in sports activities as well as the increasing prevalence of sports injuries.
• In addition to enhancing physical health, active engagement in sports has a significant impact on a person's mental health and social skills. Recreational activities and physical play are essential for the growth and healthy development of children, including toddlers, according to the 2017 Kazan Action Plan, which was approved at the Ministers and Senior Officials Responsible for Physical Education and Sport (MINEPS VI) meeting. Thus, all of these variables will have a beneficial effect on the expansion of the sports medicine sector as a whole.

Recent Developments

To increase their product offerings and market visibility, these firms are actively engaged in technical breakthroughs and strategic alliances. For instance:

• In July 2021, Colfax Corporation, a well-known, diversified technology business, finished buying Mathys AG Bettlach. The former proprietors of Mathys received 6,544,522 shares of Colfax common stock as payment for the approximate USD 285 million total transaction consideration.
• In June 2021, DJO, LLC declared the intention to purchase Mathys AG Bettlach. The product line of DJO now includes items like implants for artificial joint replacement and other sports medicine solutions. The company was able to develop and provide the newest orthopedic goods as a result of the acquisition, maintaining its market position and obtaining an advantage over rivals.
• In April 2021, the DOUBLEFLO Inflow/Outflow Pump and 4KO (Optimized) Arthroscopes and Laparoscopes were two new enabling technologies that were introduced by Smith+Nephew, a leading global provider of medical technology.
• In March 2021, AnkleSprain.com, a website dedicated to the treatment of ankle sprains, was launched by Arthrex. This has aided the business in raising public awareness of ankle sprains, which has benefited the clientele.

COVID-19 Impact

Due to the postponement and cancellation of numerous sporting events during the COVID-19 pandemic, which decreased the number of sports injuries, the market for sports medicine suffered. The Tokyo Olympics and Paralympics were postponed by the International Olympic Committee to 2021 in March 2020.

These occurrences harmed market expansion. Only urgent and critical surgical operations were to be addressed at this time by medical professionals and specialists.

Segments Analysis

By Product Type

Body reconstruction products, body support, recovery products, and accessories are the market segments for sports medicine that have been created based on product type.

By Application Type

“Ankle injuries are among the most common injuries experienced by adults and high school students”.

The sports medicine market has been divided into knee injuries, shoulder injuries, foot and ankle injuries, elbow and wrist injuries, back and spine injuries, hip and groin injuries, and others. One of the most frequent injuries sustained by adults and high school students is an ankle injury.

The segmental growth will profit from this. Around three million injuries were recorded in the United States in 2017 as a result of playing sports and using recreational equipment, according to information from the National Safety Council (NSC).

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Regional Analysis

“North America dominated the sports medicine market in terms of revenue share in 2021”.

The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The sports medicine market in North America had the biggest revenue share in 2021. Rapid product uptake will occur across the region as a result of the presence of key market participants, favorable reimbursement situations, an increase in medical facilities, and expanding investments in the development of sports medicine.

Additionally, one of the main factors influencing the size of the regional market is the well-developed healthcare infrastructure along with the rising usage of technologically advanced technologies to treat sports injuries. For instance, Stryker Corporation installed almost 650 Mako surgical robots globally in 2018 and completed more than 76,900 robotic hip and knee replacement surgeries.

The regional industry projections will be fueled by an increase in government initiatives as well as increased investment in research and development of cutting-edge treatment solutions.

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Key Players

The following are the key players in the Sports Medicine Market (arranged alphabetically)

• Arthrex
• Bauerfeind AG
• Biotek
• Breg Inc.
• CONMED Corporation
• Cramer Products
• DJO Global
• Johnson & Johnson
• KARL STORZ
• MedShape
• Medtronic
• Mueller Sport Medicine
• Orthofix International N.V
• Ossur
• Performance Health International Limited
• RTI Surgical
• RôG Sports Medicine
• Smith & Nephew Plc.
• Stryker
• Wright Medical Group
• Zimmer Biomet Holdings

Note: The above list does not necessarily include all the top players in the market.

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This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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