Sports Medicine Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Product (Body Reconstruction Products, Body Support & Recovery, Products & Accessories); Application (Knee Injuries, Shoulder Injuries, Foot & Ankle, Elbow & Wrist, Hip & Groin, Others); End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Others); Region/Country

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194

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Report ID:

UMHE21390

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Report Description
Table of content
Research Methodology

Report Description

Sports Medicine market
Sports Medicine market

Global Sports Medicine Market was valued at US$ XX million in 2020 and is anticipated to reach US$ XX million by 2027 displaying an elevated CAGR of XX% over the forecast period (2021-2027). Sports medicine is a branch of healthcare that deals with enhancing people’s athletic performance.  Sports medicines are given by sports medicine doctors for treating any injury occurred during any sports participation, exercise, or any type of physical activity. Sports medicine specialists are trained to restore function to the injured patients so that they recover soon from injury. These specialists work with professional athletes and provide their treatment facilities to the children and teens that are involved in sports activities. Various injuries such as ankle sprains, fractures, knee and shoulder injuries, tendonitis and many more are treated by sports medicine specialists. The sports medicine market is growing due to increasing demands of sports players and athletes concerns of quick recovery injury treatment solutions.

The growth of this market is driven owing to increasing incidences of sports injuries, continuous influx of new products & treatment modalities, developments in the field of regenerative medicine, rising demand for minimally invasive surgeries. For instance, according to the article published by Sarah Megginson in February 2020, 89% of Australian adults participate in sports every year, with 62% participating at least three times a week. According to the American Public Health Association in October 2016, a new smart phone application has been invented in order to specialize in sports injury detection, which captures 99% more physical and mental health symptoms for college athletes than traditional sports medicine surveillance which are some novel technologies expected to gain momentum during the forecast period.

Estimated Number (per 100,000 population) of Sports Injuries, by Sports Type, United States, 2019

According to the United Nations article, in May 2020, the Olympics and Paralympics were postponed to 2021 due to the spread of COVID-19 across the world. However, with activities are resuming now, including sports, the risk of sports-related injuries increases.

As per the data provided by the Nations Safety Council, about 122.7 per 100,000 people got injured in basketball games. This number is expected to decrease as most of the sports activities got postponed in 2020.

Growing activity in sports and athletic activity among young population is the major factor driving growth of the global sports medicine market. For instance, according to FIFA’s Professional Football Report 2019, there are at least 128,983 professional football players around the world.

Arthrex Inc., CONMED Corporation, Johnson & Johnson, Medtronic PLC, Smith & Nephew, Stryker Corporation, Breg Inc., Wright Medical Group, Performance Health International Limited, Mueller Sports Medicine Inc. are some of the prominent players operating in the global sports medicine market. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced products.

Insights Presented in the Report

“Amongst product, body reconstruction products segment holds the major share”

Based on product, the sports medicine market is segmented into body reconstruction products, body support and recovery products and accessories. The body reconstruction products segment is expected to dominate the sports medicine market in near future due to increasing cases of sports injuries as sports athletes need to take care of their body parts during sport activities and maintains it for long run.

“Amongst application, the knee injuries segment holds the major share”

Based on application, the sports medicine market is segmented into knee injuries, shoulder injuries, foot & ankle, elbow & wrist, hip & groin, and other injuries. In 2020, knee segment dominated the sports medicine market due to increasing knee fractures and ligament tears leading to growing knee applications in global sports medicine market worldwide.

“Amongst end-user, the hospitals segment holds the major share”

In terms of end user, the global sports medicine market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers, and others. Among these, hospitals segment held the largest market share in 2020 and is further predicted to maintain its leading position in the market over the coming years as well due to increasing usage of sports medicine in surgical implants such as knee, shoulder, wrist, and elbow to treat any kind of sports injury.

“North America signifies one of the largest markets of Sports Medicine market”

For a better understanding of the market dynamics of the Sports Medicine market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America is expected to dominate the sports medicine market due to increasing government initiative to encourage the athletes for playing any of the sport. Along with this, many of the manufacturers are launching new and advanced technology-based sports medicine in the region. The U.S. is expected to dominate and lead the growth of the North American market, which is expected to increase due to increases cases of sport injuries among the athletes, along with this huge R&D procedure is perform in the U.S. for introduce advance technology-based sport medicines to provide better treatment and fast recover of the athletes, which help them to return their field as soon as possible.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The Sports Medicine market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

1.1.    Market Definitions
1.2.    Objective of the Study
1.3.    Limitation
1.4.    Stake Holders
1.5.    Currency Used in Report
1.6.    Scope of the Sports Medicine Market Study
2.1.    Research Methodology for the Global Sports Medicine Market
2.1.1.Main Objective of the Global Sports Medicine Market
5.       SPORTS MEDICINE AMID COVID-19
6.       GLOBAL SPORTS MEDICINE MARKET REVENUE (USD MN), 2019-2027F
7.1.    Body Reconstruction Products
7.1.1.Fracture and Ligament Repair Products
7.1.2.    Arthroscopy Devices
7.1.3.    Implants
7.1.4.    Prosthetic Devices
7.1.5.    Orthobiologics
7.2.    Body Support and Recovery Products
7.2.1.Braces and Supports
7.2.2.     Compression Clothing
7.2.3.     Physiotherapy Equipment
7.3.     Accessories
8.1.    Knee Injuries
8.2.    Shoulder Injuries
8.3.    Foot and Ankle Injuries
8.4.    Elbow and Wrist Injuries
8.5.    Hip and Groin Injuries
8.6.    Other Injuries 
9.1.    Hospitals
9.2.    Ambulatory Surgery Centres
9.3.    Physiotherapy Centres and Clinics
10.1.                     North America Sports Medicine Market 
10.1.1.    United States
10.1.2.    Canada
10.1.3.    Rest of North America
10.2.                     Europe Sports Medicine Market
10.2.1.    Germany
10.2.2.    France
10.2.3.    United Kingdom
10.2.4.    Italy
10.2.5.    Spain
10.2.6.    Rest of Europe
10.3.                     Asia Pacific Sports Medicine Market
10.3.1.    China
10.3.2.    Japan
10.3.3.    India
10.3.4.    South Korea
10.3.5.    Rest of Asia Pacific
10.4.                     Rest of World Sports Medicine Market
11.1.                     Market Drivers
11.2.                     Market Challenges
11.3.                     Impact Analysis
12.   SPORTS MEDICINE MARKET OPPORTUNITIES
13.   SPORTS MEDICINE MARKET TRENDS
14.   LEGAL & REGULATORY FRAMEWORK
15.1.                     Demand Side Analysis
15.2.                     Supply Side Analysis
15.2.1.    Top Product Launches
15.2.2.    Top Business Partnerships
15.2.3.    Top Business Expansions, Investments and Divestitures
15.2.4.    Top Merger and Acquisitions
16.   VALUE CHAIN ANALYSIS
  
  
  
  
  
  
  
  
18.1.                     Arthrex Inc.
18.2.                     CONMED Corporation
18.3.                     Johnson & Johnson
18.4.                     Medtronic PLC
18.5.                     Smith & Nephew
18.6.                     Stryker Corporation
18.7.                     Breg Inc.
18.8.                     Wright Medical Group
18.9.                     Performance Health International Limited
18.10.                  Mueller Sports Medicine Inc.
19.   DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Sports Medicine Market were the three major steps undertaken to create and analyze the adoption of sports medicine for the different diseases across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of Sports Medicine. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size                                                                          

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Sports Medicine market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Sports Medicine market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are product, application, and end-user. Further country-level analyses were conducted to evaluate the overall utilization of sports medicine in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Sports Medicine market. Further, we conducted factor analysis using dependent and independent variables such as increasing incidence of sport injuries. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the sports medicine industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the sports medicine market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (USD) and the utilization rate of sports medicine across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Sports Medicine market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the sports medicine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, application, end user of the sports medicine market.

Main Objective of the Sports Medicine Market Study

The current & future market trends of sports medicine were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of sports medicine in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of product, application, end user
  • Define and analysis of the regulatory framework for the sports medicine industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the sports medicine market for the major region
  • Major regions studied in the report include North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of the World
  • Company profiles of the sports medicine market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry