Worldwide Sports Medicine Industry has been divided into Orthopedics Devices, Body Reconstruction & Repair, Body Support & Recovery, Body Monitoring & Evaluation and Accessories. By Product, Body reconstruction and repair products have generated the highest revenue among all. The increased demand for arthroscopy devices and an increase in transition from conventional open surgeries to minimally invasive surgeries employing orthobiologics are influencing this segment market. The growing use of fracture and ligament repair devices and the increasing utilization of arthroscopy equipment in minimally invasive procedures were credited with huge market share growth. As per the research findings, the market for sports medicine will grow with a healthy CAGR of 7.70% during 2021-2027.
By Application
Sports Medicine is most used for Knee Injuries as Knee injuries are one of the most prevalent injuries sustained when participating in sports or other physical activity. This is because excessive running and jumping causes knee joint wear and strain. Knee injuries are quite common, according to the British Journal of Sports Medicine, accounting for roughly 41% of all sports injuries. Orthopaedic clinics use most sports medicine due to the increase of these types of injuries. As per this research report, Worldwide Sports Medicine Market Size was US$ 7.2 Billion in 2020.
Factors Driving Sports Medicine demand Globally
- Rising prevalence of sports injuries
- Continual invention of new goods and treatment modalities
- And increased desire for less invasive operations are all driving the industry forward.
Facts about Sports Medicine
- According to a February 2020 article by Sarah Megginson, 89 per cent of Australian adults participate in sports every year, with 62 percent doing so at least three times per week.
- The demand for injury treatment and rehabilitation is predicted to rise around the world as more people participate in sports (both children and adults) and as the incidence of sports injuries will increase.
This is viewed as a favorable indicator of the sports medicine market's expansion. However, one of the significant challenges the global sports medicine market faces is the high cost of implants. Many developing countries, such as India, where patients do not have insurance coverage, it is hard for them to pay such a big amount to hospitals for their treatment.
COVID- 19 Impacts
Most international, regional, and national sports activities have been postponed to combat the disease, resulting in fewer sports injuries and, as a result, a decrease in demand for sports medicine. For example, the emergence of COVID-19 in April 2020, the Confederation of African Football stated their intention to move the African Champions League semi-finals. But the market will recover in 2021 and will increase during the forecast period as per the publisher's anticipation.
This report titled “Global Sports Medicine Market by Product (Orthopedics Devices, Body Support & Recovery, Body Reconstruction & Repair, Body Monitoring & Evaluation and Accessories), Application (Hand & wrist, Shoulder Injury, Ankle - foot Injury, Arm - elbow Injury , Knee Injury, Back - spine Injury and Hip - groin Injury) End Users (Hospitals, Ambulatory, Clinics and Other), Region (North America, Asia- Pacific's, Europe, ROW), Company (ZIMMER BIOMET HOLDINGS, INC., MEDTRONIC PLC, Smith & Nephew, Stryker)" provides comprehensive details about Global Sports Medicine industry.
Product Type -Market breakup from 5 viewpoints
1. Orthopedics Devices
2. Body Reconstruction & Repair
3. Body Support & Recovery
4. Body Monitoring & Evaluation
5. Accessories
Application - Market breakup from 7 viewpoints
1. Hand & wrist
2. Shoulder Injury
3. Ankle - foot Injury
4. Arm - elbow Injury
5. Knee Injury
6. Back - spine Injury
7. Hip - groin Injury
End Users- Market breakup from 4 viewpoints
1. Hospitals
2. Ambulatory
3. Clinics
4. Other
Region - Market breakup from 5 viewpoints
1. North America
2. Europe
3. Asia Pacific
4. Rest of World
All companies have been covered from 3 viewpoints
- Overviews
- Recent Developments
- Financial Insights
Company Analysis
1. ZIMMER BIOMET HOLDINGS, INC.
2. MEDTRONIC PLC
3. Smith & Nephew
4. Stryker
What is the estimated value of the Global Sports Medicine Market?
What is the growth rate of the Global Sports Medicine Market?
What is the forecasted size of the Global Sports Medicine Market?
Who are the key companies in the Global Sports Medicine Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | September 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 7.2 Billion |
| Forecasted Market Value ( USD | $ 12.1 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 4 |
Table of Contents
Companies Mentioned
- ZIMMER BIOMET HOLDINGS, INC.
- MEDTRONIC PLC
- Smith & Nephew
- Stryker
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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