Sports medicine deals with the care of sports-related injuries. Treatment for sports-related injuries, such as back discomfort, spine problems, shoulder problems, etc., is a part of sports medicine. Both athletes and non-athletes use sports medical products.

In 2021, the market for sports medicine was USD 6.90 billion, and by 2030, it will reach USD 11.86 billion, growing at a 6.2% CAGR during the forecast period. 

The rise in sports-related injuries is one of the main factors boosting the global market for sports medicine. Another significant factor stimulating the expansion of the sports medicine market is the need to improve athletic performance among athletes and prevent medical syndromes associated with sports and other exercises.

Market Dynamics

Drivers

The increasing number of participation in recreational sports, fitness, and athletic activities, coupled with the increasing awareness of the harmful consequences of inactivity, has led to a higher demand for sports medicine. Additionally, the market is stimulated by the increased use of sports medicines due to consumers' changing lifestyles and the rise in sports injuries. The introduction of PRICE therapy—which stands for protection, rest, ice, compression, and elevation—as an emergency remedy for sports injuries is also helping the business expand.

Restraints

The high price of implant materials has a significant impact on market growth. In nations like India, where a small portion of the population has access to adequate health insurance, an expensive implant is a significant worry. The lack of trained orthopedic doctors is a big issue for this sector because orthopedic surgeons perform the majority of operations for sports injuries.

Opportunity 

Two of the most populated emerging markets are China and India. They have sizable populations and room for expansion. This is mostly caused by their rising disposable earnings, which are a result of both their rapid economic expansion and a rise in sports and other activity involvement. These developing nations have their healthcare systems and are working to improve them.

Market Segmentation

By Product

In 2022, the body repair and reconstruction segment led the entire market. The body reconstruction and repair industry includes a variety of devices, such as surgical instruments, soft tissue healing equipment, and tools for bone restoration. The sizeable market share is due to the increasing use of fracture and ligament repair devices and arthroscopy equipment in minimally invasive treatments.

On the other hand, the accessories segment will expand at the fastest rate. This category generally consists of bandages, tapes, wraps, disinfectants, and other supplies required for treating minor sports injuries. The main factor boosting the market growth rate is the rising popularity of the PRICE (Protection, Rest, Ice, Compression, and Elevation) therapy as an emergency treatment for sports injuries.

By Application

In 2022, the knee application segment ruled the entire market due to the continuous rise in knee injuries. Due to the knee joint degradation caused by prolonged running and jumping, many sports- and other physical activity-related illnesses affect the knee. Per the British Journal of Sports Medicine, knee injuries are highly common and account for 41% of all sports injuries.

In addition, several cutting-edge treatments are accessible, including platelet-rich plasma therapy, dry needling, soft tissue massage, osteopathic manipulation, and arthroscopic knee replacement. The wide variety of easily available therapies and the increased incidence of knee

injuries are two major factors contributing to the segment's rise.

Regional Analysis 

The United States ruled the North American sports medicine market in 2022. Sports medicine is becoming increasingly necessary nationwide due to millennials' increased obsession with physical activity and fitness. Doctors are also educating the public about the importance of regular physical activity to maintain good health.

Germany will likely grow in the European sports medicine industry during the forecast period. As more people participate in football and other sports, athletic injuries are becoming more frequent. Also, the benefits of cardiorespiratory physical fitness are widely recognized by the populace, which is assisting the growth of the sports medicine industry.

Key Players 

· Össur

· Hanger Inc.

· Braun Melsungen AG

· Arthrex Inc. (US), AlloSource

· Smith & Nephew plc 

· Johnson & Johnson Services, Inc.

· Mueller Sports Medicine, Inc.

· Novartis AG

· Surgalign

· Medtronic

· Zimmer Biomet

· CONMED Corporation

· Arthrex Inc.

· Stryker

· AlloSource

· Wright Medical Group NV.

In 2021, the market for sports medicine was USD 6.90 billion, and by 2030, it will reach USD 11.86 billion, growing at a 6.2% CAGR during the forecast period. Sports medicine is in high demand due to increased sports injuries and increased engagement in sports and other fitness-related activities.

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