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Sports Medicine Market Size, Growth and Insights By Product (Joint Reconstructive & Repair Products, Support & Recovery Products, Accessories & Consumables, Others), By Application (Shoulder Treatment, Knee Treatment, Hip Treatment, Spine Treatment, Others), By Procedure (Tendinosis, Tendon to Bone, Cartilage Repair) and By End-User (Hospitals & Emergency Care, Trauma Centers, Ambulatory Care, Others) - Global Forecast to 2032


ID: MRFR/MED/2407-CR | 130 Pages | Author: Kinjoll Dey| August 2018

Sports Medicine Market Overview


Sports Medicine Market Size was valued at USD 5.81 Billion in 2023. The Sports Medicine industry is projected to grow from USD 6.48 Billion in 2024 to USD 14.43 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.30% during the forecast period (2024 - 2032).


Sports Medicine Market Overview1


The market of sports medicine is anticipated to be driven by the growing cases of sports injuries, expansion of medical associations, and on-going technological development. Sports, like baseball and football, are likely to record maximum injuries. Also, the lack of carelessness while practicing the sport is expected to be another cause that is likely to strengthen the market during the assessment period.


However, the unfavorable reimbursement policies and lack of expertise are likely to hamper the market sports medicine market growth during the projection tenure.


Impact of COVID-19


The outbreak of COVID-19 has brought a significant impact on the global market of sports medicine. Various tournaments were suspended owing to the lockdown. For example, the International Olympic Committee postponed the 2020 Olympics and Paralympic to 2021. The expansion of the market has been hampered due to the pandemic. However, the market is likely to stabilize in the future at steady pace.


Smith+Nephew launched a REGENETEN Bioinductive Implant for the healing of rotator cuff tears in Japanese patients in October 2023.


August 2023 saw Smith+Nephew bring the OR3O Dual Mobility System into India for primary and revision hip arthroplasty use.


In March 2023, the U.S. FDA approved Arthrex, Inc.’s application for the TightRope Implant. It is a surgical device used in orthopedic injuries treatment and has been approved for pediatric ACL surgery.


January 2023 was when Enovis (DJO, LLC) introduced DynaClip Quattro and DynaClip Delta bone staples that offer foot and ankle surgeons ease of use & procedural efficiency.


Citrefix—Stryker’s suture anchor system—was developed to mimic native bone structure and chemistry to facilitate natural healing and bone regeneration during foot & ankle surgeries, as announced in December 2022.


Sports Medicine Market Trends


The sports medicine market for sports is expected to be influenced by various factors and opportunities. 


Drivers


Rising Incidence of Sports Injuries to Favor Market Growth


The increasing participation in sports and growing awareness about fitness are likely to be primary causes that can drive the sports medicines market. The rising incidence of ligament tears and fractures are likely to propel the market during the assessment period. The surging demand for injury management and rehabilitation is projected to strengthen the industry across the globe during the assessment tenure.


Opportunities


Growing Penetration of Sports Medicine in Emerging Economies to Present Significant Opportunity for sports medicines market Expansion


Developing countries such as; India and China are likely to offer a significant opportunity for market expansion due to the presence of a large patient pool. The market of sports medicine is expected to grow due to the rising disposable income and the growing participation of children and adults in sports activities.


Restraints


Lack of Expertise can Hinder the sports medicine market Growth


One of the primary factors affecting the global market for sports is the dearth of expertise. There is a growing need for skilled professionals with experience and knowledge. The limited number of doctors in sports medicines is one of the major market restraining factors for this sports medicine.


Challenges


Lack of Sports Culture to Pose a Significant Challenge in Market Expansion


Lack of sporting culture, sluggish development of medical associations, and lack of advanced healthcare facilities are some of the salient factors posing a significant challenge to the market expansion during the assessment tenure.


Sports Medicine Market Segment Insights


Sports Medicine Product Insights


The product-based segments of the sports medicine market are support & recovery products, accessories & consumables, joint reconstructive & repair products, and others.


Sports Medicine Application Insights


The application-based segments of the global market for sports medicine are knee treatment, spine treatment, shoulder treatment, hip treatment, and others.


Sports Medicine Procedure Insights


The procedure-based segments of the global market for sports medicine are tendinosis, tendon to bone, and cartilage repair.


Sports Medicine End-User Insights


The end-user based segments of the global sports medicine market are trauma centers, hospitals & emergency care, ambulatory care, and others.


Regional analysis


North America to Acquire a Significant Market Share during the Forecast Period


The rising popularity of sports and the increasing awareness regarding the treatment of sports injuries are expected to be a significant cause that can grow the regional market during the analysis tenure. The rising investments in North America are expected to augment the sports medicine market size in the region. The presence of technologically advanced medical services to treat various orthopedic injuries are likely to steer the regional trade in the coming period. The US, Canada, and Mexico are projected to make a significant contribution during the review timeframe.


Europe to Procure Second-Largest Market Share During the Forecast Period


Europe is predicted to acquire the second-largest market share during the forecast period owing to the growing inclination towards sports. The increasing initiatives taken by the government to develop the sports medicine devices market are projected to augment the market during the forecast period.


APAC to Expand at the Highest CAGR During the Forecast Period


The growing demand for sports medicine devices from developing countries such as; India, China, and Japan are expected to play a crucial role in developing the regional market during the assessment tenure. Furthermore, the regulatory process for product approvals is comparatively less stringent in these countries, which has eased the entry of new products, thereby augmenting the market in the assessment timeframe.


MEA to Witness Sluggish Growth During the Forecast Period


MEA is predicted to witness sluggish growth during the forecast period owing to the presence of underdeveloped countries and a lack of sports culture. However, there are various untapped market opportunities that are likely to offer lucrative opportunities for sports medicine market expansion.


Latin America to Experience Steady Growth During the Review Period


Latin America is anticipated to thrive at a significant CAGR during the evaluation tenure due to the rising inclination towards sports. Brazil is projected to be a lucrative sports medicine market in the assessment period.


Competitive Landscape


The established players of the global sports medicine market are adopting various strategies of expansion, such as; collaboration, merger, acquisition. The growing inclination towards sports has led to a higher demand for innovative and effective methods to heal the injury, for which key players are focusing on expanding their reach. The growing initiatives of expansion are likely to intensify the market competition the coming time.


List of Key Companies Covered in this Report



  • Medtronics

  • Stryker

  • Zimmer Biomet

  • CONMED Corporation

  • DePuy Synthes

  • GE Healthcare

  • Smith & Nephew plc

  • Arthrex, Inc.


Recent Developments



  • December 2020- The National Academy of Sports Medicine (NASM), a globally recognized leader in fitness certifications and specializations, announced the launch of an updated weight loss specialization course that is designed for certified trainers.



  • December 2020- Banner Health, a non-profit health system in the US, announced to build valley sports medicine facility worth $54 million.


Sports Medicine Market Segmentation


Sports Medicine Product Outlook



  • Joint reconstructive & repair products

  • Support & Recovery Products

  • Accessories & Consumables


Sports Medicine Application Outlook



  • Shoulder treatment

  • Knee treatment

  • Hip treatment

  • Spine treatment


Sports Medicine Procedure Outlook



  • Tendinosis

  • Tendon to bone and cartilage repair


Sports Medicine End-User Outlook



  • Hospitals & Emergency care

  • Trauma centers

  • Ambulatory care

Report Attribute/Metric Details
  Market Size   USD 14.43 Billion
  CAGR   9.30%
  Base Year   2023
  Forecast Period   2024-2032
  Historical Data   2021
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Application, Procedure and End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors    Medtronics, Stryker, Zimmer Biomet, CONMED Corporation, DePuy Synthes, GE Healthcare, Smith & Nephew plc, Arthrex, Inc.
  Key Market Opportunities   Growing Penetration of Sports Medicine in Emerging Economies to Present Significant Opportunity for Market Expansion
  Key Market Drivers   Rising Incidence of Sports Injuries to Favor Market Growth


Frequently Asked Questions (FAQ) :

The global sports medicine market size can balloon to USD 14.43 Billion by 2032.

The global sports medicine market can expand at 9.30% CAGR from 2024-2032.

Smith & Nephew plc, Stryker, CONMED Corporation, DePuy Synthes, GE Healthcare, Arthrex, Inc., Medtronics, and Zimmer Biomet are prominent players in the global sports medicine market.

The APAC region can exhibit a CAGR of 9.2% from 2022 to 2032.

North America dominates the global sports medicine market.

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