Sports Associated Injuries and Physical Fitness Awareness Pushing Sports Medicine Market to Reach $11,172 million by 2023, Globally

Sports medicine is a branch of healthcare industry that deals with physical fitness of people involved in sports. Sports medicine involves prevention and treatment of injuries related to sports and exercise. Common sport injuries include anterior cruciate ligament (ACL) tears, ankle sprains, muscle cramps, and shin splints. Demand for sports medicine has increased owing to active participation of athletes in different kind of sports across different countries. Various aspects of sports medicine such as indulging in sports activities for fitness, recommendations for physical training, sports injury prevention, and treatment contributes to the market growth.

Rise in incidence of sports-related injuries and increase in sport-related injuries among young generation have boosted the global sports medicine market. Moreover, active participation of government for promoting sports activities and surge in demand for minimally invasive surgeries supplemented the market growth. However, lack of skilled professionals and inappropriate administration and guidelines in the field of sports medicine hamper the growth of the market. On the contrary, increasing adoption of regenerative sports medicine is expected to generate lucrative opportunities for the market players in the coming years

According to a new report published by Allied Market Research, titled, "Sports Medicine Market by Product, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global sports medicine market was valued at $6,615 million in 2016, and is projected to reach $11,172 million by 2023, growing at a CAGR of 7.7% from 2017 to 2023. The body reconstruction & repair segment accounted for about half of the global market in 2016.

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The body reconstruction & repair segment is anticipated to maintain its dominance during the forecast period. Body reconstruction & repair products such as implants, arthroscopy devices, and orthobiologics assist in the treatment, and prevention of sport-related injuries. Orthobiologics is the fastest growing segment of body reconstruction & repair products registering a CAGR of 9.3% during the forecast period. In addition, braces & support is the highest revenue contributor to body support & recovery products accounted for five ninths share in 2016. Sports medicine is largely employed in the treatment of knee injuries owing to the increase in incidence of meniscus tear among sportsperson. Moreover, knee injuries are growing at the highest CAGR of 8.4% from 2017 to 2023, as such injuries occurs most frequently in athletes playing all kinds of sports, among all age groups.

Asia-Pacific witnessed highest growth rate for sports medicine market, and is expected to continue this trend. This is attributed to the increase in active participation in sports by people in various countries of this region. In addition, various market players focus on the opportunities offered by sports industry of this region.

Analyst Review:

Sports medicine deals with the treatment and prevention of injuries in people who are actively involved in playing sports. Sports medicine has gained traction in the recent years owing to the rise in awareness regarding physical fitness among people. Sports medicine market has witnessed significant growth over the years due to the government initiatives in this field. This has resulted in progressive influx of athletes every year, which supplements the growth of the sports medicine market.

Sports medicine makes use of various products such as, body reconstruction & repair products, body support & recovery products, body monitoring & evaluation, and accessories to treat injuries. The body reconstruction and repair products dominates the sports medicine market during the forecast period. This is attributed to the large-scale employment of arthroscopy devices and implants in the treatment of sport-related injuries. In addition, transition from minimally invasive surgeries to regenerative sports medicine in the treatment of injuries is set to increase the demand of orthobiologics in the market. Further, braces and support products segment generated highest revenue in the body support & recovery products. Using braces and support products is the most common practice observed among sportspersons.

Top Key Players in Sports Medicine Market :

• Smith & Nephew Plc
• Johnson & Johnson (Depuy Mitek)
• Conmed Corporation
• Breg Inc.
• DJO Global Inc.
• Stryker Corporation
• Arthrex Inc.
• Zimmer Biomet Holdings Inc.
• Mueller Sports Medicine Inc.
• Wright and Medical Group N.V.

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