The Worldwide Sports Medicine Industry is Projected to Reach $12.8 Billion by 2030 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Sports Medicine Market by Product, Application: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.
The sports medicine market was valued at $8,520 million in 2020, and is projected to reach $12,862 million by 2030, registering a CAGR of 5.1% from 2021 to 2030.
Sports medicine is an area of medical practice concerned with the treatment of injuries resulting from athletic activities. It is a study that deals with improving physical fitness and preventing sports-associated injuries. Major objective of sports medicine is to enhance the athletic performance and prevent future injuries. Sports medicine aids in the treatment of injuries resulting from physical activity.
In addition, sports medicine assists to maximize function and minimize the disability of patients. Key factors that drive the market growth include rise in incidences of injuries associated with sports, increase in adoption of sports activities by people, and growth in demand for minimally invasive treatment methods.
Thus, rise in incidences of sports injuries worldwide propels demand for the market growth. Moreover, government initiatives for the sports industry are continuously liable for expansion of the market. However, high cost of products may hinder expansion of the medicine market.
Rise in adoption of extreme sports activities, rise in incidences of sports related injuries, growth in awareness among individuals regarding fitness and sports, and rapid advancements in sports medicine are some factors expected to drive the sports medicine market growth.
The COVID-19 impact on sports medicine market is overall negative. This is attributed to the fact that the non-COVID-19 related healthcare facilities remained non-functional during the pandemic initially in 2020. Furthermore, factors such as decline* in the number of sport events and activities organized across the globe led to decrease in incidences of sports injury, which propels demand for sport medicines in a negative manner.
In addition, the sports medicine market experienced disruptions in supply chain. This also contributed toward negative impact in growth of the sports medicine market in the year 2020. However, as the lockdown restrictions were relaxed in 2021, the demand for sports medicine exhibited a steady rise and recovery from COVID-19 impact.
Key Benefits for Stakeholders
- The study provides an in-depth analysis, current trends, and future estimations of the global market to elucidate the imminent investment pockets
- Comprehensive analysis of factors that drive and restrict the market growth is provided
- A quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities
- Extensive analysis of key segments of the industry is provided to understand the type of products and indications used globally
- Key market players and their strategies are analyzed to understand the competitive outlook of the market
Key Segments:
By Product
- Body Reconstruction and Repair
- Implants
- Arthroscopy Devices
- Fracture and Ligament Repair Devices
- Prosthetic Devices
- Orthobiologics
- Body Support and Recovery
- Thermal Therapy Products
- Brace and Support Devices
- Compression Clothing
- Monitoring Devices
- Others
- Body Monitoring and Evaluation Devices
- Cardiac monitoring and evaluation devices
- Respiratory monitoring and evaluation devices
- Hemodynamic monitoring and evaluation devices
- Muscoskeletal monitoring and evaluation devices
- Other monitoring and evaluation devices
- Accessories
By Application
- Knee Injuries
- Shoulder Injuries
- Ankle and Foot Injuries
- Back and Spine Injuries
- Elbow and Wrist Injuries
- Hip Injuries
- Other Injuries
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Arthrex Inc
- CONMED Corporation,
- DJO Global,
- Johnson & Johnson
- Mueller Sport Medicine
- Orthofix International NV
- Smith & Nephew Plc
- Stryker Corporation
- Wright Medical group
- Zimmer Biomet Holdings, Inc
For more information about this report visit https://www.researchandmarkets.com/r/obfidu
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