DUBLIN--(BUSINESS WIRE)--The "Sports Medicine Market by Product (Body Reconstruction (Arthroscopy devices, Implants), Body Support & Recovery Products (Physiotherapy Equipment, Compression Clothing, Braces & Supports)), Application and Region - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The global sports medicine market is projected to reach USD 9.1 billion by 2024 from USD 6.6 billion in 2019
Growth in the sports medicine market can be attributed to factors such as the increasing incidence of sports injuries, continuous influx of new products and treatment modalities, and developments in the field of regenerative medicine. However, the high cost of implants and other devices may restrain the market to a certain extent.
The Body Support & Recovery Products segment is expected to grow at the highest rate during the forecast period.
On the basis of product, the global sports medicine market has been segmented into body reconstruction products, body support & recovery products, and accessories. The body reconstruction products segment is further divided into fracture and ligament repair products, arthroscopy devices, implants, prosthetics, and orthobiologics.
Similarly, body support & recovery products include braces & support, physiotherapy equipment, and compression clothing. The body support & recovery products segment is expected to grow at the highest CAGR during the forecast period. Braces & supports are required before and after procedures involving reconstruction. The demand for these devices is growing due to their requirement in the treatment of the majority of the sports injuries. Subsequently, shifting trend towards physiotherapy is a major factor boosting this market growth.
The knee injuries segment is expected to hold the largest share during the forecast period.
On the basis of application, the sports medicine market is segmented into knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries, back & spine injuries, hip & groin injuries, and other injuries. The knee injuries segment is expected to account for the largest share of this market. The large share of this segment can be attributed to knee injuries being the most common sports injury accounting for approximately 40% of all injuries.
The North American sports medicine market is expected to hold the largest market during the forecast period.
Geographically, the sports medicine market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The North American market is expected to hold the largest share during the forecast period. The rising popularity of sports and physical activity, growing awareness regarding the prevention & treatment of sports injuries, and increasing investments in sports medicine are the key factors driving the North American sports medicine market.
- Increasing Incidence of Sports Injuries
- Continuous Influx of New Products and Treatment Modalities
- Developments in the Field of Regenerative Medicine
- High Cost of Orthopedic Implants and Other Devices
- 3D-Printed Implants
- Expansion and Market Penetration Opportunities in Emerging Economies
- Dearth of Skilled Professionals
- Arthrex, Inc.
- Bauerfeind AG
- Breg, Inc.
- Conmed Corporation
- Depuy Synthes Companies (A Part of Johnson & Johnson)
- DJO Global, Inc. (Subsidiary of Colfax Corporation)
- KARL STORZ GmbH & Co.Kg
- Medtronic PLC
- Mueller Sports Medicine, Inc.
- Performance Health International Limited
- RTI Surgical Holdings, Inc.
- Smith & Nephew PLC
- Stryker Corporation
- Wright Medical Group N.V.
- Zimmer Biomet Holdings, Inc.
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