SPORTS MEDICINE MARKET
Market overview
Sports medicine is supposed to be a part of healthcare. It mainly focuses on an individual’s athletic performance. So sports medicine is mainly given to people to recover from injuries or to prevent injuries that may occur in the future. Injuries may occur while undergoing therapy for physical fitness also. Professionals can also treat not only athletes but all people with injuries. Government makes certain rules and regulations to motivate sports personnel to participate in athletes, which has further resulted in the rise of the Sports Medicine Market Dynamics. Despite all this support, the market growth may be affected due to the lack of skilled professionals or improper sports medicine administration.
Like all other markets, the sports medicine market was also affected by the pandemic situation- COVID’19. Due to the compulsory implementation of lockdown worldwide, there were no sports activities done which resulted in a decline in the sports medicine market. For instance, in March 2020, the Olympics was to commence in Tokyo, but the International Olympic Committee postponed the event to 2021.
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Market Segmentation
- By Product
The product-based segments of the sports medicine market are support & recovery products, accessories & consumables, joint reconstructive & repair products, and others.
- By Application
The application-based segments of the global market for sports medicine are knee treatment, spine treatment, shoulder treatment, hip treatment, and others.
- By Procedure
The procedure-based segments of the global market for sports medicine are tendinosis, tendon to bone, and cartilage repair.
- By End-User
The end-user-based segments of the global sports medicine market are trauma centers, hospitals & emergency care, ambulatory care, and others.
List of Key Companies Covered in this Report
- Medtronics
- Stryker
- Zimmer Biomet
- CONMED Corporation
- DePuy Synthes
- GE Healthcare
- Smith & Nephew plc
- Arthrex, Inc.
Regional Classification
When the product category is considered, the products related to body reconstruction and repair are the largest revenue earner to the sports medicine market. When analysed geography-wise, North America has the highest share in the sports medicine market. There is an immense growth in the occurrence of injuries over the past few years. Several players faced the problem of ligament tears and fractures. This factor is a source of creating a rise in the sports medicine market.
Industry News
- When the last few years of sports activities are analysed, it is found that the participation in sports activities (irrespective of age) has increased a lot. This increase in participation plays an important role In increasing the sports medicine market. When analysed globally, the sports medicine market is expected to earn a revenue of 9,850 million USD by the end of 2026 with a CAGR of 5.5%. The cost of the treatment in the case of implants is high. Apart from these, prosthetics and regenerative medicine procedures are also expensive. Suppose appropriate research and development is done to reduce the cost of the treatment. In that case, there is a chance of a rise in the sports medicine market as the affordability status of the sports personnel or the sponsor will increase.
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