Sports Medicine Market by Product, Application and Region - Global Forecasts to 2024
- June 2019 •
- 195 pages •
- Report ID: 5136807 •
- Format: PDF
The global sports medicine market is projected to reach USD 9.1 billion by 2024 from USD 6.6 billion in 2019 at a CAGR of 6.5%. 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.
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level – 43%, Director-level – 32%, and Others – 25%
• By Region: North America - 38%, Europe – 23%, APAC – 29%, and RoW – 10%
The major players in the market include Arthrex, Inc (US), Smith & Nephew plc (UK), Stryker Corporation (US), Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany), and Bauerfeind AG (US).
This report studies the sports medicine market based on product, application, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the sports medicine market, and high-growth regions with their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.