Sports medicine industry is anticipated to register 6.4% CAGR between 2022 and 2030 due to increasing incidence of sports injuries globally coupled with rising awareness regarding physical fitness.
Selbyville, Delaware , July 06, 2022 (GLOBE NEWSWIRE) --
The sports medicine market value is expected to surpass USD 9.5 billion by 2030. Technological advancements coupled with new product launches in sports medicine industry will propel the overall market expansion.
The rise in use of wearable devices for fitness purposes such as fitness bands that helps in monitoring various health parameters such as heart rate, oxygen, blood pressure etc. has prevented incidence of several injuries and assisted people in monitoring their health. Leading industry players partner with popular celebrities or sports players to advertise/ market their product in order to promote their brand and stimulate product adoption rate among public.
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Active involvement in sports activities by adults and children attributes to the growth of the market. Thus, growing prerequisites associated with choosing sports as a career coupled with rising inclination towards a healthy lifestyle will augment the industry scenario. Moreover, excessive training and practice can lead to fatigue, muscle strains, cramps or wear and tear of tissues. Ignorance to such conditions at initial stage results in severe injuries in longer term. Thus, prevalence of such injuries with increasing involvement in physical activities will positively impact the business revenue.
Some major findings of the sports medicine market report include:
Growing interest and awareness regarding physical fitness and sports activities will spur the product demand.
Adoption of advanced technologies in the treatment of sports injuries will foster the business landscape.
Increasing government funding to ensure the safety of sports players will fuel the market revenue.
Expansion and infrastructure development of specialty centers to cater to a wide range of patient population suffering from varied injuries will positively influence the industry statistics.
Browse key industry insights spread across 167 pages with 132 market data tables & 11 figures & charts from the report, “Sports Medicine Market Analysis By Product (Implants, Fracture, and Ligament Repair Products, Arthroscopy Devices, Prosthetics), Injury Type (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Back and Spine Injuries, Hip and Groin Injuries), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Sports medicine market from arthroscopy devices segment surpassed USD 1.2 billion in 2021. Increasing number of minimally invasive procedures will propel the market trends. Minimal invasive surgery has plenty of benefits such as it has reduced risk of complications, smaller incisions, less scarring, and shorter recovery time. For instance, arthroscopy also known as keyhole surgery, is a minimally invasive surgical (MIS) procedure for joint that involves an examination using an arthroscope, inserted into the joint through an exceedingly small incision. It is less painful procedure with negligible side effects. Furthermore, recent advancements in arthroscopy techniques have proven to be beneficial in case of complex procedures coupled with offering less invasive alternatives to the patients.
Shoulder injuries segment held over 15% revenue share in 2021 and is anticipated to progress at considerable CAGR during the forecast period. Significant increase in number of shoulder injuries, especially in throwing athletes will influence the product demand. However, rise in number of sports injuries among children is further driving the market forecasts. Therefore, such large participation in sports leads to increasing number of injuries, thereby stimulating the product demand.
Asia Pacific sports medicine market is poised to witness 7.5% CAGR during the forecast period. An upsurge in awareness about importance of sports medicine coupled with increasing participation of individuals in sports and physical activities will result into elevated product adoption throughout the region. Further, government initiatives and support to increase sports participation will boost the regional market size. Industry participants are undertaking various strategies to increase their business revenue as well as expand their product portfolio.
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Major players operating in the sports medicine market include Stryker Corporation, Arthrex, Wright Medical Technology, Otto Bock Healthcare, Zimmer Biomet, Smith & Nephew, Breg, Inc, Muller Sports, Inc, RTI Surgical, Performance Health International Limited, Karl Storz, Bauerfeind AG, Conmed Corporation, Johnson & Johnson, Ossur Corporate, Cramer Product, Inc, Anika Therapeutics, Inc, and DJO Global.
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