Global Sports Medicine Market by Type (Body Reconstruction and Repair, Body Support and Recovery, Body Monitoring and Evaluation, and Accessories), by Application (Knee Injuries, Shoulder Injuries, Ankle and Foot Injuries, Back and Spine Injuries, and Other Applications), By End User (Hospitals, Ambulatory Surgery Centers, Physiotherapy Centers, and Clinics), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Sports Medicine Market size is expected to be worth around USD 15.6 Billion by 2032 from USD 8.6 Billion in 2022, growing at a CAGR of 6.30% during the forecast period from 2023 to 2032.

Demand for sports medicine is high because of the increasing issues of sports injuries and the rising number of people in sports activities. Furthermore, preventive care for sports injuries is anticipated to drive market growth.

The increasing use of wearable analogs such as fitness wristbands and new devices plays an essential role in monitoring the health conditions of athletes; this also supported the market for driving the growth of sports medicine. For example, Athletigen Technology, Inc. corporation in Nova Scotia works with athletes to use the recorded DNA data to refine their performance and health.

It helps avoid the issues related to sports injuries. Such activities help to grow the market of sports medicine. However, the lack of unprofessional in this field is responsible for restraining the growth of this sports medicine market.

Additionally, the growing number of chronic disorders such as diabetes encouraged people to adopt self-hygiene. Increasing knowledge about chronic diseases is helping the sports medicine market drive its growth; technological advancements and various paramedical and medical specialties fuel the market’s growth.

In addition, increasing career opportunities for athletes with advanced trends and technologies will help to raise the sports medicine market. Sports medicine is used to prevent injuries and recover, restore, and cure incidents during sports.

Driving Factors

Increasing Prevalence of Athletic Injuries to Fuel the Demand for Sports Medicine

Sports injuries include fractures, Spondylolysis, strains and sprains, disc injury, stingers, and Scheuermann’s disease. According to Stanford Children’s Health statistics, sports injuries affect approximately 30 million children and teenagers in the United States. Participate in a variety of organized sports. Games-related injuries account for nearly one-third of all childhood injuries.

The lower extremity had the highest percentage of injuries reported during sports and recreation activities, followed by the upper extremity, head, and neck. Additionally, approximately 4.5 million people aged 15 and up are treated in a hospital for injuries yearly, with Team Ball accounting for roughly 40.0% of all hospital-treated athletic injuries.

According to the CDC’s National Health Statistics Reports, the most common injuries were Fractures, Spondylolysis, strains and sprains, disc injury, stingers, and Scheuermann’s disease.

Increasing Participation in Sports to Drive the Market Growth

One of the primary reasons promoting people to pursue this as a profession is the inclusion of new sports in the Olympics and other international games. Furthermore, the International Olympic Council declared the inclusion of five new sporting activities in the Tokyo 2020 Olympics skateboarding, surfing, baseball, softball, mountain climbing, and karate.

Including athletics in international sporting competitions is predicted to boost involvement and thus demand for this medicine. Furthermore, the advantages of a sporting job are anticipated to expand the number of young people interested in professional sports. Some of these benefits include notoriety and renown, high pay, and the availability of other forms of income, such as sponsorships.

Restraining Factors

Costly Devices and High Cost of Orthopedic Implants

The high expense of implants is a significant weakness in the worldwide market’s development. The expense of these implants is a substantial concern for market development in countries such as India, where only a tiny portion of the population is covered (according to the IRDA, 76% of the Indian population was uninsured in 2017).

With an average cost of more than USD 12,000 in developing nations, most people can still not afford such an expensive procedure. In addition, regenerative medicine treatments, such as implants and prosthetics, are costly. A single PRP infusion, for example, usually costs USD 500-2,000, whereas bone marrow stem cell injections cost USD 2,000-5,000 or more.

Growth Opportunities

Due to the primarily rising disposable incomes and rising participation in sports and physical activities in these countries (as a result of the rapid growth of their economies), emerging nations such as India and China are anticipated to provide potential growth opportunities for players operating in the global market.

India and China both have large patient populations. These nations’ governments also plan to modernize and expand their healthcare infrastructures.

Latest Challenges

Since orthopedic surgeons perform most procedures for various sports injuries, this is one of the major obstacles for the global market. By 2032, there will be a shortage of between 20,700 and 30,500 surgeons in the United States, according to a new report released in April 2018 by the Association of American Medical Colleges (AAMC).

As a result, there is a growing demand for trained professionals with relevant experience and understanding of using orthobiologics and performing specific surgeries in sports medicine. In addition, musculoskeletal injuries and related disorders brought on by sports activities are diagnosed and treated by sports medicine surgeons.

Product Analysis

Based on product, the sports medicine market is divided into four types body support and recovery, body monitoring and evaluation, body reconstruction and repair, and accessories. Among these, the body reconstruction & repair segment dominated with the largest revenue share of 40.3% in 2022. In addition, this segment contains soft tissue repair equipment, bone reconstruction, and surgical equipment.

The segment’s growth is because of the increasing use of ligament and fracture repair devices and the increasing use of arthroscopy devices in minimally invasive surgeries. On the other hand, the accessories segment is projected to record rapid growth during the forecasted period. This segment contains bandages, tapes, disinfectants, wraps, and other medical kits used to aid sports injuries.

Application Analysis

Based on applications sports medicine market is divided into shoulder injuries, knee injuries, back and spine injuries, ankle and foot injuries, elbow and wrist injuries, and hip injuries. Among these injuries, knee injuries dominated the market in 2022 with a revenue share of 43%. This segment dominates all injuries because knee injury is a common injury that occurs to athletes continuously.

This application is also predicted to be the fastest-growing, with a CAGR of 9.8% during the forecasted period. Many advanced treatments include soft tissue massage, dry needling, platelet-rich plasma therapy, arthroscopic surgeries, and osteopathic manipulation for knee repair. This advanced therapy is also fueling the global sports medicine market.

End-User Analysis

Based on the end-user market is segmented into ambulatory surgical centers, physiotherapy centers, and clinics and hospitals. Among these segments, the hospital segments dominated the sports medicine market with a significant revenue share of 41.3% and are also estimated to register the highest CAGR of 7.2% in the forecasted period 2023-2032. The hospital segment dominates the market because this segment belongs to therapeutic procedures and complex diagnostic trends.

Key Market Segments:

By Product

• Body Reconstruction and Repair
• Surgical Equipment
• Soft Tissue Repair
• Bone Reconstruction Devices
• Body Support and Recovery
• Braces and Other Support Devices
• Compression Clothing
• Hot and Cold Therapy
• Body Monitoring and Evaluation
• Cardiac
• Respiratory
• Hemodynamic
• Musculoskeletal
• Others
• Accessories
• Bandages
• Tapes
• Disinfectants
• Wraps
• Others

By Application

• Knee Injuries
• Shoulder Injuries
• Ankle and Foot Injuries
• Back and Spine Injuries
• Elbow and Wrist Injuries
• Hip Injuries
• Other Applications

By End-User

• Hospitals
• Ambulatory Surgery Centers
• Physiotherapy Centers and Clinics

COVID-19 Impact Analysis

Sports Medicine Market Was Also Impacted During the Pandemic

On January 30, 2020, the World Health Organization (WHO) designated the COVID-19 outbreak as a global health emergency. Around 210 countries around the world have been affected by the coronavirus. During the Coronavirus pandemic, state-run organizations across the globe announced lockdowns and amicable separating measures to prevent the breakdown of the medical services structure.

Additionally, projects and elective surgeries have been restricted and controlled by states. The immediate impact of the episode changes, starting with one industry, and these deterrents continue to influence growth in various industries. The global implementation of the lockdown has impacted scattering, production, and the store network.

The market for global sports medicine was affected by the COVID-19 pandemic, and it harmed the sports medicine market. First, the decreased demand for sports medicine was seen because of the COVID-19 pandemic.

Another reason was the decrease in the number of sports events and the number of competitions due to the strict global lockdown in 2020. Additionally, the supply chain of many businesses was disrupted because of the COVID-19 lockdown. Therefore, the first wave of COVID-19 negatively impacted medicine production.

Regional Analysis

North America Dominated the Market for Sports Medication in 2022.

In 2022, North America dominated the market for sports medication with a 37.2% revenue share. The sports medicine market is driven mainly by several factors, including a well-developed healthcare infrastructure, high spending, and the availability of technologically advanced medical devices to treat various orthopedic injuries.

For instance, Stryker Corporation has installed over 650 Mako surgical robots worldwide and has carried out over 76,900 procedures for knee and hip replacements using these robots as of 2018.

However, as the adoption rate of the global sports medicine market continues to rise in nations such as China, Japan, and South Korea, Asia-Pacific is anticipated to experience the fastest growth over the forecast period. In addition, the less stringent regulatory requirements for product approvals in these nations have made it easier for cutting-edge products and medical devices to enter the market.

Key Regions and Countries Covered in this Report:

North America

• The US
• Canada
• Mexico

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Market Share & Key Players Analysis:

Players have employed various strategies to enhance their position in the global sports medicine market, including product launches, mergers and acquisitions, and establishing a robust distribution network.

For instance, Wright Medical Group N.V. completed the acquisition of Cartiva, Inc. (Cartiva) in October 2018 to improve opportunities for its global extremities business and strengthen its foot and ankle portfolio.

Market Key Players:

With several local and regional players, the market for sports medicine is fragmented. Market players are subject to intense competition from top players, particularly those with strong brand recognition and high distribution networks.

As a result, companies have gained various expansion strategies, such as partnerships and product launches, to stay on top of the market.

The following are some of the major players in the global sports medicine industry

• Arthrex Inc.
• CONMED Corporation,
• DJO Global,
• Johnson & Johnson
• Mueller Sport Medicine
• Orthofix International N.V
• Smith & Nephew Plc.
• Stryker Corporation
• Wright Medical Group
• Zimmer Biomet Holdings, Inc.
• Other Key Players

Recent Developments:

• In June 2021 – The Intellio connected tower platform was launched by Smith & Nephew to connect and control sports medicine systems. A cloud-based image management portal, an on-screen display explicitly designed for surgeon workflow, and a remote control are included.
• In March 2021 – The open-access Video Journal of Sports Medicine (VJSM), a video-based teaching and learning platform launched by the American Orthopaedic Society for Sports Medicine (AOSSM). AOSSM developed this with a digital learning mindset to provide sports medicine’s best practices for managing athletes and active individuals.
• In September 2020 – The medical technology company Smith & Nephew introduced the HEALICOIL KNOTLESS Suture Anchor to expand its extensive line of cutting-edge rotator cuff repair solutions.
• In July 2020 – Six developments related to sports medicine and orthopedics obtained permission from Anika Therapeutics, Inc. from the United States Food and Drug Administration (FDA). The organization desired to send off different items to handle the needs of muscular and sports medication specialists and their patients’ conditions to remain active by defeating delicate tissue injuries.

Report Scope: