NEW YORK, Nov. 12, 2023 /PRNewswire/ — The sports medicine market size is expected to grow by USD 2.64 billion during 2022-2027, progressing at a CAGR of 6.47% as per the latest Technavio market research report. The increasing incidence of sports injuries drives the sports medicine market. As the sports industry has been growing rapidly, sports injuries have been on the rise too. Specifically, in the global sports medicine market, incidences of sports injuries have been a major concern for athletes and medical professionals. Factors such as the pressure of competing at a higher level, extreme training schedules, and the urge to win at all costs attribute to the growth in the number of injuries. Hence, factors such as the rise in the number of sports injuries are anticipated to drive the demand for the sports medicine market during the forecast period.
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Sports Medicine Market: Rise In Demand For Minimally Invasive Surgeries
The rise in demand for minimally invasive surgeries is an emerging sports medicine market trend. The rise in demand for minimally invasive surgeries is the advancement in technology as the use of robotics and computer-assisted technologies in minimally invasive surgeries has also improved. For instance, the use of robotics in knee surgeries has significantly reduced the risk of complications and improved patient outcomes but the rising incidence of sports-related injuries is also driving the demand for minimally invasive surgeries. Hence, such trends are expected to drive the growth of the global sports medicine market during the forecast period.
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Some of the key Sports Medicine Market Players:
The sports medicine market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some of the key companies are mentioned below:
Alimed Inc., Arthrex Inc., Bauerfeind AG, Breg Inc., Conmed Corp., Core Products International Inc., DJO Global Inc., Johnson and Johnson Services Inc., KARL STORZ SE and Co. KG, Kinex Medical Co. LLC, medi GmbH and Co. KG, Medtronic Plc, Mueller Sports Medicine Inc., Ossur hf, Ottobock SE and Co. KGaA, Performance Health Holding Inc., Smith and Nephew plc, Stryker Corp., ThermoTek Inc., and Zimmer Biomet Holdings Inc.
Sports Medicine Market: Segmentation and Geographical Analysis
This sports medicine market report extensively covers market segmentation by application (knee treatment, hip treatment, shoulder treatment, spine treatment, and others), product (reconstructive products, support and recovery products, and accessories), and geography (North America, Europe, Asia, and Rest of World (ROW)).
- The knee treatment segment will be significant during the forecast period. ACL tear is one of the most common knee injuries which can often result in long-term consequences and the major treatments include surgery and rehabilitation as important aspects in the sports medicine sector. Furthermore, knee osteoarthritis is a common ailment among athletes and it occurs when the cartilage in the knee joint breaks down, which leads to pain and inflammation. This progressively restricts the capacity of the athlete to perform. Hence, such factors boost the segment growth during the forecast period.
- North America is estimated to account for 48% of the market’s overall growth. The advancements in technology contribute to the growth of the market in the region. These advancements have led to the development of innovative sports medicine products and services. For example, orthopedic implants and devices, such as joint replacements, are now widely used in sports medicine. Hence, owing to such factors, the market in the region is expected to grow during the forecast period.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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