SAN FRANCISCO, June 29, 2023 /PRNewswire/ — The global sports medicine market size is projected to reach USD 9.4 billion by 2030, expanding at a CAGR of 8.2% during the forecast period, according to a new report by Grand View Research, Inc. The rising demand for sports medicine, owing to the increasing shift from a sedentary lifestyle to a healthy lifestyle by the younger population, and increasing incidences of injuries among fitness enthusiasts, are some of the major factors driving industry growth.
Key Industry Insights & Findings from the report:
- Based on the product, the body reconstruction & repair segment accounted for the largest revenue share of 39.0% in 2022. On the other hand, the accessories segment is anticipated to witness the fastest CAGR over the forecast period, as the demand for wound care products is increasing.
- Based on application, the knee segment accounted for the largest revenue share of 30.3% in 2022. The ankle & foot segment, on the other hand, is expected to witness the fastest growth rate over the forecast period.
- North America dominated the market for sports medicine, accounting for the largest revenue share of 47.1% in 2022. This is owing to the presence of major companies and the high healthcare expenditure in the region. Asia Pacific is anticipated to expand at the highest CAGR during the projection period.
Read 127-page market research report, “Sports Medicine Market Size, Share & Trends Analysis Report By Product Type (Body Reconstruction & Repair, Body Support & Recovery), By Application (Knees, Shoulders, Ankle & Foot), By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Sports Medicine Market Growth & Trends
The market for sports medicine includes products such as braces, supports, and compression garments, as well as diagnostic tools and devices, surgical equipment, and rehabilitation products. The growing popularity of sports and fitness activities is driving the demand for sports medicine products and services. As more people participate in these activities, the risk of injuries increases, creating the need for various advanced products and services to prevent and treat these injuries.
The National Cricket Academy released an Injury Surveillance Report in 2020, which highlighted that 14.75% of male and female players suffered shoulder injuries, making it the most common injury. Knee injuries followed, with over 13% of players affected. The report also revealed that a significant proportion (74%) of career-threatening Anterior Cruciate Ligament (ACL) injuries occurred within the first two years of resuming sporting activity. In cricket alone, the report indicated that 262 cricketers, comprising 218 men and 44 women, underwent rehabilitation programs between April 2019 and March 2020.
Furthermore, with the increasing healthcare expenditure worldwide, more resources are being directed toward innovations and advances in sports medicine research, development, and treatment. This is creating opportunities for companies specializing in sports medicine solutions to expand their product offerings and market reach.
Sports Medicine Market Report Scope
Market size value in 2023
USD 5.5 billion
Revenue Forecast in 2030
USD 9.4 billion
CAGR of 8.2% from 2023 to 2030
Base year for estimation
2018 – 2021
2023 – 2030
Sports Medicine Market Segmentation
Grand View Research has segmented the global Sports Medicine market based on solution, service, deployment, enterprise size, end-use, and region
Sports Medicine Market – Product Type Outlook (Revenue, USD Billion, 2018 – 2030)
- Body Reconstruction & Repair
- Surgical Equipment
- Soft Tissue Repair
- Bone Reconstruction Devices
- Body Support & Recovery
- Braces and Other Support Devices
- Compression Clothing
- Hot & Cold Therapy
- Body Monitoring & Evaluation
Sports Medicine Market – Application Outlook (Revenue, USD Billion, 2018 – 2030)
- Ankle & Foot
- Back & Spine
- Elbow & Wrist
Sports Medicine Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
List of Key Players in the Sports Medicine Market
- Zimmer Biomet
- Arthrex GmbH
- Enovis (DJO Global)
- CONMED Corporation
- Mueller Sports Medicine, Inc.
- Breg, Inc.
- Performance Health Holding, Inc.
- Bauerfeind AG
- KARL STORZ SE & Co. KG
- DePuy Synthes (Johnson & Johnson)
Check out more market research studies published by Grand View Research:
- Sports Mouthguard Market – The global sports mouthguard market size is expected to reach USD 8.7 billion by 2030, according to a new report by Grand View Research, Inc. A large number of sports-related dental injuries and the high treatment costs associated with these injuries are the key factors driving the growth. Furthermore, rising consumer awareness about the importance of sports mouthguards is fueling the growth of the industry.
- Knee Braces Market – The global knee braces market size is anticipated to reach USD 2.1 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a 4.3% CAGR during the forecast period. Rising prevalence of osteoarthritis and number of sports-related injuries are the key growth boosters for this market. The increasing burden of obesity is also anticipated to encourage youth to engage sports activities. Easy availability of braces through online stores is projected to further drive the product demand. This helps overcome the geographical barrier and facilitates easy product access.
- Recreational Oxygen Equipment Market – The global recreational oxygen equipment market size is expected to reach USD 299.8 million by 2026, according to a new report by Grand View Research, Inc., registering a CAGR of 16.2% over the forecast period. High prevalence of unhealthy lifestyle among a large section of the global population has increased the risk of respiratory disorders such as chronic obstructive pulmonary disease (COPD). This is a major factor driving the need for recreational oxygen equipment. In addition, growing geriatric population, who is prone to numerous health disorders requiring supplemental oxygen, is expected to boost the market.
Browse through Grand View Research’s Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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