PUBLISHER: Orion Market Research | PRODUCT CODE: 1159391
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159391
Title: Global Sports Medicine Market Size, Share & Trends Analysis Report by Product (Reconstruction and Repair Products, Support and Recovery Products, and Accessories), and by Application (Back & Spine Injuries, Elbow & Wrist Injuries, Hip & Groin Injuries, Knee Injuries, Shoulder Injuries, and Others) Forecast (2022-2028).
The global sports medicine market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period. One of the core factors that is fueling the market is the growing competitiveness in sports. Sports have been popular in every area of humans for years, and all different types of sports have huge fanbase which drives the sports and makes them much more competitive. To compete and stay in this competition, players use their full physical strengths to improve their performance which has been also growing the injuries in the sports. This has increased the demand for sports medicine in sports management to provide the quickest and best treatment possible to their players.
The global sports medicine market is segmented based on product and application. Based on the product, the market is segmented into reconstruction & repair products, support & recovery products, and accessories. Based on the application, the market is sub-segmented into back & spine injuries, elbow & wrist injuries, hip & groin injuries, knee injuries, shoulder injuries, and others. The other segment is further sub-segmented into foot and ankle injuries. The above-mentioned segments can be customized as per the requirements. Based on application, knee injuries are projected to grow significantly during the forecast period since a large number of knee injuries have been recorded across major sports such as running, football, basketball, lacrosse, or skiing, globally, because of the harsh moves inherent to the sport. Sudden stops, twists, and turns or the pressure put on the knee joint while running can cause knee pain or injury.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to grow significantly during the forecast period owing to the growing sports culture in the region. The rising sports such as cricket, football, Olympics, Hockey, and many others have increased the demand for sports medicine. For instance, in June 2020, Smith & Nephew received the CE mark approval for RegenetenBioinductive Implant, thus allowing its sale in key European markets.
The major companies serving the global sports medicine market include CONMED Corp., DePuy Synthes Companies (A Johnson & Johnson Services, Inc. Company), Medtronic PLC, RTI Surgical, Inc., Stryker Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2019, Arthrex partnered with Clemson University, US, intending to provide 10 scholarships worth USD 7500 each, for students who take internships and courses specifically tailored to the needs of the surgical device industry.
Research Methodology
The market study of the global sports medicine market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: