MarketersMEDIA / Newsroom / Sports Medicine Market Growing at 6.5% CAGR and to Reach US$ 9.1 Billion Revenue by 2024 Led by Physiotherapy and Sports Injuries

Sports Medicine Market Growing at 6.5% CAGR and to Reach US$ 9.1 Billion Revenue by 2024 Led by Physiotherapy and Sports Injuries

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Key factors driving growth of sports medicine market are increasing incidences of sports injuries, continuous influx of new products and treatment modalities, and development in field of regenerative medicine.

— The global sports medicine market is projected to reach USD 9.1 billion by 2024 from USD 6.6 billion in 2019 at a CAGR of 6.5%. The demand for these devices is growing due to their requirement in the treatment of the majority of the sports injuries. Subsequently, shifting trend towards physiotherapy is a major factor boosting this market growth.

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Growth in sports medicine market can be attributed to factors such as the increasing incidence of sports injuries, continuous influx of new products and treatment modalities, and developments in the field of regenerative medicine. However, high cost of implants and other devices may restrain the market to a certain extent.

“The Body Support & Recovery Products segment is expected to grow at the highest rate during the forecast period.”

Sports medicine market is segmented into knee injuries, shoulder injuries, foot & ankle injuries, elbow & wrist injuries, back & spine injuries, hip & groin injuries, and other injuries. Knee injuries segment is expected to account for largest share of this market. Large share of this segment can be attributed to knee injuries being most common sports injury accounting for approximately 40% of all injuries.

The sports medicine market is segmented on the basis of product, application, and region. On the basis of product, the global market is segmented into body reconstruction products, body support & recovery products, and accessories. The body reconstruction products segment is further categorized into implants, fracture & ligament repair devices, arthroscopy devices, prosthetics, and orthobiologics.

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Geographically, sports medicine market segmented into North America, Europe, Asia Pacific (APAC), & Rest of the World. North American market is expected to hold largest share during forecast period. Rising popularity of sports & physical activity, growing awareness regarding prevention & treatment of sports injuries, & increasing investments in sports medicine are key factors driving North American sports medicine market.

Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level – 43%, Director-level – 32%, and Others – 25%
• By Region: North America - 38%, Europe – 23%, APAC – 29%, and RoW – 10%

Key players in sports medicine market are Arthrex, (US), Smith & Nephew (UK), DePuy Synthes (US), Stryker (US), CONMED (US), Zimmer Biomet (US), Breg (US), DJO Global (US), Mueller Sports (US), Wright Medical Group (US), Medtronic (Ireland), RTI Surgical (US), & Performance Health International (US).

Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. Of these, North American region is expected to account for largest share of market in 2017. Large share of this segment can primarily be attributed to increased popularity of sports & physical activities, continued government support, investments in field of sports awareness, & efforts to raise awareness on prevention & treatment of sports injuries.

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Sports medicine pertains to the treatment and prevention of injuries resulting from sports and athletic activities. Sports injuries involve both bone and soft tissue injuries. The sports medicine market includes devices that are used for the prevention of sports injuries as well as for the cure, recovery, and rehabilitation of such injuries.

Key Benefits of Buying the Report:

The report analyzes the sports medicine market and aims at estimating market size and future growth potential of this market based on various segments such as product, application, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.

Contact Info:
Name: RnRMarketResearch
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Organization: RnRMarketResearch
Address: Pune, India
Phone: +1 888 391 5441

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Source: MarketersMedia

Release ID: 88892118

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