Sports Medicine Market to Reach Valuation of USD 11.2 Billion by 2030 – Growing Incidence of Sports- related Injuries Drives the Market

In terms of revenue, the Global Sports Medicine Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 6.2% from 2023 to 2030.

Sports Medicine comprises a wide range of medical procedures related to physical exercise and sports. This area of medicine focuses on maintaining physical fitness and treating and preventing injuries sustained during exercise and sports. Its main topics include sports injury prevention, performance enhancement, and Sports Medicine. It covers osteopathic treatment and rehabilitation and proactive strategies like preventing injuries. Sports Medicine practitioners use injections, rehabilitation, conditioning, and other treatments, including osteopathic manipulation, as preventive measures against injuries.

Furthermore, it extends its application to areas like hip, ankle, and foot injuries, knee injuries, back and spine injuries, and shoulder injuries. It also encompasses disciplines like body evaluation, body monitoring, reconstruction, healing, and support. Sports Medicine is a subspecialty that addresses physical fitness and managing and avoiding injuries sustained during exercise and sports. 

Key Highlights from the Report

• Based on Device Type, the Surgery Devices segment dominates the Sports Medicine market owing to the increasing number of sports-related injuries.
• Based on the Application, due to the rising incidence of knee injuries among sports, the Knee application category was responsible for the market's significant increase in 2022.
• Based on End Users, the Hospital segment expressed the most significant growth of the market in 2022 owing to the availability of specialized Sports Medicine hospital facilities.
• Based on Region, North America holds the significant market share within the Sports Medicine market in 2022 owing to the appearance of a well-developed healthcare infrastructure, coupled with high spending and the availability of technologically advanced medical devices. 

Market Dynamics

Around the world, sports injuries are prevalent. For example, 430 competitors reported 725 injuries at the 2010 Guangzhou Summer Asian Games. With 209 athletes experiencing about 288 new injuries, were 45.5 injuries for every 1,000 athletes exposed. In Australia, soccer is the most popular sport. Between 2011 and 2012, over 3,000 players from over 13,000 clubs were taken to hospitals. Therefore, the need for Sports Medicine is rising quickly due to this rising prevalence. As a result, this element promotes market expansion.

Furthermore, introducing cutting-edge Sports Medicine products is expected to drive the market's expansion during the projected period. For example, Smith and Nephew introduced "HEALICOIL KNOTLESS Suture Anchor," a new device, to the market in September 2020. This product promotes in-bone development and repair when used with REGENESORB Material. As a result, the growing number of product approvals would accelerate market expansion.

North America led the Sports Medicine market in 2022. Some key reasons driving the market include an advanced healthcare infrastructure, high spending, and the accessibility of cutting-edge medical technologies to treat various orthopedic injuries. For example, Stryker unveiled Citrefix in December 2022; it is a suture anchor system for foot and ankle procedures that uses Citregen, a material the company developed to replicate the chemistry and structure of native bone to facilitate bone regeneration and natural healing. 

The Global Sports Medicine Market is Segmented as follows

• Device Type
  • Surgery Devices
  • Bone Reconstruction Devices
  • Body Support Devices
  • Other Device Types
• Application
  • Knee
  • Head & Neck
  • Shoulder
  • Ankle & Foot
  • Wrist & Elbow
  • Other Applications
• End User
  • Hospitals
  • Specialty Clinics
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Sports Medicine Market is

Smith & Nephew (UK), Stryker Corporation (U.S.), Zimmer Biomet (U.S.), Arthrex GmbH (U.S.), Enovis (U.S.), DJO Global (U.S.), CONMED Corporation (U.S.), Mueller Sports Medicine Inc. (U.S.), Breg Inc. (U.S.), Performance Health Holding Inc. (U.S.), Bauerfeind AG (Germany), Karl Storz SE & Co. KG (Germany), DePuy Synthes (Johnson & Johnson) (U.S.)

The Global Sports Medicine Market Scope can be Tabulated as below