Sports Medicine Market Size Is Projected To Be Around $13 Billion By 2025
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A research study titled, “Sports Medicine Market by Product and Application - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the sports medicine market is projected to be around $13 billion by 2025.
Sports injury is one of the most common types of injuries affecting children and teenagers. Sports injuries amount to almost one-third of all the injuries reported in children. Such injuries are majorly associated with spine, knees, back, ankle, shoulder, foot, and other body parts. Sports and related activities in developing countries are witnessing more growth and acceptance on a professional level contributing to the number of sports related injuries. Sports and physical activities are associated with around one-fifth of the brain related traumatic injuries. As the awareness about the health benefits of involvement in sports and other physical activities is rising, instances of sports injuries are also on a rise worldwide.
Body reconstruction and repair devices segment held a major share of the overall sports medicine market in 2016. These devices have wide applications in procedures such as ligament reconstruction, soft tissue repair, and bone reconstruction procedures along with injuries related to neck, knee and shoulders.
Recovery and support products segment held the second largest share of the global market in 2016, owing to increased demand for performance monitoring devices, braces and support devices. Such products are largely used by professional athletes and fitness enthusiasts who wish to monitor and improve their performance while taking adequate precautions to avoid injuries.
Knee injuries segment dominated the global market in 2016. These are the most common type of injuries related to sports such as basketball, soccer and running. Majority of injuries related to football are associated with knees. Shoulder segment accounted for almost one fourth of the total sports injuries market in 2016 and is poised to grow at a high CAGR during the forecast period.
North America held the major share of the global sports medicine market in 2016 and it is expected to witness substantial growth in near future due to advanced healthcare infrastructure and high healthcare expenditure. Asia-Pacific is projected to be the fastest-growing segment in the global market during the forecast period, due to the rising awareness about sports in developing nations. Moreover, the attitude of adopting sports on a professional level is on the rise in these regions resulting in favorable market growth for sports medicine.
Smith & Nephew plc, Zimmer Biomet, DePuy Mitek, and Arthrex together accounted for major share of the overall market in 2016. Some of the other key players are DJO Global, Mueller Sports Medicine Inc, Medstar Sports Medicine, Tornier N.V., Acumed LLC, Wright Medical Technology, and Ossur HF.
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Key Findings of the Research Study:
- Body reconstruction and repair devices segment was the largest segment in 2016, and will dominate the market over the forecast period due to wide applications in most orthopedic sports injury treatments such as hip replacement and knee replacement procedures.
- Recovery and support devices segment will exhibit a favorable growth over the forecast period owing to the rise in professional competitive sports activities globally.
- Knee injuries market held a major share of the global sports medicine market in 2016 as these are the most common types of sports injuries.
- North America dominated the global market in 2016 and is projected to continue its leading position over the forecast period, due to wide presence of dedicated healthcare facilities for sports medicine coupled with high purchasing power of the American population.
- The global sports medicine is consolidated in nature with top four players accounting for more than two-third share in 2016.
About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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