Sports Medicine Market, By Product Type, Companies, Global Forecast by 2027
Sports Medicine Market was valued at US$ 12.1 Billion in 2027. Global Forecast, Impact of COVID-19, Industry Trends, by Product Type, Application, Growth, Opportunity Company Analysis.
Sports medicine is a type of medicine that focuses on improving people's athletic abilities. Sport medicine products aid in the recovery of injuries as well as the prevention of future injuries. Furthermore, sports medicine has outgrown all other healthcare fields in terms of growth, as healthcare practitioners in this sector can treat a wide range of people, not only athletes. The growing incidence of sports-related injuries and increased public awareness regarding physical fitness has surged in demand for the sports medicine market across the world. According to Renub Research, Global Sports Medicine Market was valued at US$ 12.1 Billion in 2027.
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 our research findings, the market for sports medicine will grow with a healthy CAGR of 7.70% during 2021-2027.
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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 Renub Research anticipation.
Renub Research new 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.
Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/sports-medicine-market-p.php
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