Global Sports Medicine Devices Market Forecast to 2028: Emerging Economies See Increasing Participation in Sports and Market Penetration Opportunities – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The report “Sports Medicine Devices Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Product, Application, End-User and Geography” has been added to from ResearchAndMarkets.com offer.
Global Sports Medicine Devices Market is anticipated to be valued at USD 6,094.67 Million in 2022 and is projected to reach a value of USD 9,452.72 Million by 2028; it is expected to grow at a CAGR of 7.6% from 2022 to 2028.
The growth of the sports medicine devices market is mainly attributed to factors such as the rising incidence of sports injuries and the growing demand for minimally invasive methods. However, the high cost of devices and shortage of skilled professionals are hampering the growth of the market.
Sports medicine is a branch of health care that increases athletic performance and improves physical fitness. Sports medicine devices promote early injury recovery and prevent the risk of future injuries. Various injuries caused by sports and general exercise are head, knee and ankle injuries; muscle spasms; sprains and strains; and torn ligaments.
These devices can be surgically implanted, externally attached, or used for minimally invasive procedures such as arthroscopy. The devices also include performance monitors and various accessories, such as bandages, bands and slings. Braces prevent and treat musculoskeletal problems, such as sprains and strains, fracture and ligament repairs, repetitive motion injuries, and upper and lower back pain associated with sports.
In athletes with a physical deformity or any physiological dysfunction, prostheses replace, correct or support a part of the body. Both upper and lower limb amputees use sports prostheses to participate in sports and other physical activities. They help replicate the functions of fingers, arms, elbows and other body parts.
The COVID-19 outbreak has severely affected medical systems in various parts of the world. The global impacts of the outbreak are being felt across multiple markets. The COVID-19 pandemic has had a significant impact on the sports medicine device market. Several sports activities have been suspended or postponed at international, regional and national levels to control the spread of the virus during the first quarter of 2020.
On the basis of product, the sports medicine device market is segmented into body reconstruction and repair, body support and recovery, body monitoring and assessment, and accessories. In 2022, the body reconstruction and repair segment accounted for the largest market share. Body reconstruction is a specialized treatment used for damaged or injured skin and tissue.
Reconstruction and repair help the sportsman to return to the field as soon as possible. Body reconstruction and repair aids are mainly performed by the mode of surgery which requires products, such as autografts, allograft spacers, mesh cages, cement augmentation, implants and cages expandable.
Therefore, owing to the benefits of body reconstruction and repair for sports injuries, the global sports medicine devices market is likely to grow with a significant growth rate in the coming years. Also, the body monitoring and assessment segment is likely to register the highest CAGR in the market during the forecast period.
In terms of application, the global sports medicine device market is segmented into elbow and wrist injuries, shoulder, knee, ankle and foot, spine and others. The knee injury segment held the largest market share in 2022. However, the shoulder injury segment is expected to register the highest CAGR in the market during the forecast period.
The global sports medicine devices market, based on end-user, is segmented into hospitals and clinics, physiotherapy centers, sports centers and outpatient surgery centers. The hospital and clinic segment held the largest market share in 2022. However, the physiotherapy center segment is expected to register the highest CAGR of 8.0% of the market during the forecast period.
Key market dynamics
Market factors
Increased incidence of sports injuries
Growing demand for minimally invasive methods
Market constraints
High cost of devices and shortage of qualified professionals
Market opportunities
Growing technological advancements in sports medicine devices
Future trends
Increase sports participation and market penetration opportunities in emerging economies
Analysis of growth strategy
Performance of key players
Arthrex inc.
Blacksmith and nephew
Global Sports Medicine Devices
Body reconstruction products
Fracture and ligament repair products
Arthroscopy devices
Implants
Prostheses
Orthobiologics
Body support and recovery products
Braces
Compression garments
physiotherapy equipment
Body monitoring and assessment
Company Profiles
Arthrex inc.
Conmed Company
Medtronic
DePuy Synthes
stryker
Blacksmith and nephew
DJO Global Inc.
Zimmer Biomet
Karl Storz SE & Co., KG
Breg Inc.
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