Global Sports Medicine Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
Global Sports Medicine Market is expected to reach the market valuation of USD XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX million in 2020. 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.
Globally, the incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities (because of the growing focus on leading healthy lifestyles). According to Stanford Children’s Health, approximately 30 million adolescents and children in the US participate in sports annually, and more than 3.5 million sports injuries are reported each year.
For a detailed analysis of the Sports Medicine market browse through – https://univdatos.com/report/sports-medicine-market/
According to the Board of Certification for Athletic Trainers, an estimated 2 million acute ankle injuries occur annually in the US. In addition, growing awareness about personal health coupled with a significant rise in sports activities are few of the factors driving the market growth. Active participation of various government in encouraging sports activities are also augmenting the market expansion. In addition to this, continuous technological advancements and new product launches in sports medicine are propelling the industry growth. For instance, in May 2021, Smith & Nephew introduced new series of pumps laparoscopes and arthroscopes used for fluid management and 4k imaging technology for sports medicine surgeons.
However, some of the restraints in the market are lack of skilled professionals in this field, inappropriate administration and guidelines regarding sports medicine, and high cost of equipment. The major restraining factor for the growth of sports medicine market is high cost of implants. The cost of these implants is a major concern for market growth in countries such as India, where only a small section of the population is under insurance coverage (according to the IRDA, in 2017, 76% of the Indian population was uninsured). With an overall average cost of more than USD 12,000 in developing countries, affording such a costly treatment is still a big challenge for most of the population. Like implants and prosthetics, regenerative medicine procedures are also expensive. For instance, the cost of a single PRP injection typically ranges from USD 500–2,000, whereas the cost of bone marrow stem cell injections ranges from USD 2,000–5,000 or more. Such therapeutic procedures often require more than one treatment, thus raising their overall cost.
Request for Sample of the report browse through – https://univdatos.com/get-a-free-sample-form-php/?product_id=8917
Based on end user segment, the market is segmented into Hospitals, Ambulatory Surgery centres and Physiotherapy Centres and Clinics. The hospitals segment accounted for the largest share of the sports medicine market in 2020. The large share of this segment can be attributed to factors like Complex diagnostic and therapeutic procedures being carried out in hospitals. A study published by Cary Orthopaedics, United States, in 2019, stated that each year, 500,000 doctor visits and 30,000 hospitalizations occur due to sports injuries in high school athletes. With rising sports injuries, the incidence rate of visiting hospitals and doctors for the treatment of these injuries is increasing, subsequently boosting the demand for sports medicines
However, the physiotherapy centres and clinics is estimated to register the highest CAGR during the forecast period, primarily due to the cost-effectiveness and easy accessibility of sports medicine equipment.
Additionally, the report provides detailed initiatives that are being taken in the field of Sports Medicine. The market is classified into distinct regions 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. Growing number of professional sports leagues coupled with significant rise in sports participation are the factors driving the industry progression. The presence of high quality and technologically advanced sports injury treatment are fueling the industry demand.
Feel free to contact us for any queries – https://univdatos.com/get-a-free-sample-form-php/?product_id=8917
In addition, supportive government initiatives and a significant increase in funding for R&D of advanced therapeutic options will boost the regional growth during the forecast period. To foster scientific investigation and R&D practices within the sports medicine discipline, the American Medical Society for Sports Medicine (AMSSM) grants research funding of USD 50,000 per year to its members.
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 innovative products
Global Sports Medicine Market Segmentation
Market Insight, by Type
- Body Reconstruction Products
- Fracture and Ligament Repair Products
- Arthroscopy Devices
- Prosthetic Devices
- Body Support and Recovery Products
- Braces and Supports
- Compression Clothing
- Physiotherapy Equipment
Market Insight, by Application
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Elbow and Wrist Injuries
- Hip and Groin Injuries
Market Insight, by End-User
- Ambulatory Surgery Centres
- Physiotherapy Centres and Clinics
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Becton, Dickinson, and Company
- 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.