Sports Medicine Market to Grow at a CAGR of 6.5% | Key Players are Arthrex, Inc (US), Smith & Nephew plc (UK), and Stryker Corporation (US)

Growth in the sports medicine market is primarily driven by factors such the increasing incidences of sports injuries, continuous influx of new products & treatment modalities, and developments in the field of regenerative medicine.

The sports medicine market is expected to grow from USD 6.6 billion in 2019 to USD 9.1 billion by 2024, at a CAGR of 6.5% during the forecast period.

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Body support & recovery products expected to grow at the highest rate during the forecast period.

On the basis of products, the sports medicine market is segmented into body reconstruction products (fracture & ligament repair products, arthroscopy devices, implants, prosthetics, orthobiologics), body support & recovery products (braces & support, physiotherapy equipment, and compression clothing), and accessories. The body support & recovery products segment is expected to witness the fastest growth during the forecast period.

Products such as braces, supports, and physiotherapy equipment are required before and after procedures involving reconstruction. Thus, the demand for these devices is growing due to the increasing number of sports injuries globally. The body reconstruction segment is further divided into Fracture & Ligament Repair Products, Arthroscopy Devices, Implants, Orthobiologics, and Prosthetics. The orthobiologics segment is the fastest growing owing to the interest of prominent companies in launching innovative orthobiologics for treating sports-related injuries.

Knee Injuries segment held the largest share of the sports medicine market in 2018.

Sports medicine is widely used for the prevention of sports injuries as well as for the cure, recovery, and rehabilitation of athletes. The sports medicine applications market is segmented into knee injuries, shoulder injuries, foot & ankle, elbow & wrist, back & spine, hip & groin, and other injuries. The knee injuries segment held the largest share of the market in 2018, a trend that is expected to continue during the forecast period. The large share of this segment can be attributed to the fact that a large number of knee injuries are recorded across major sports, globally, accounting for approximately 40% of all injuries due to sports.

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North America is expected to hold a significant share in the sports medicine market during the forecast period.

Factors such as the rising popularity of sports and physical activity, increasing awareness regarding the prevention & treatment of sports injuries, and growing investments in sports medicine are driving the North American sports medicine market. Asia Pacific is the fastest growing market majorly due to the growth of the sports industry and overall participation. Sporting events such as the 2008 Beijing Olympics, 2018 Winter Olympics in Korea, and the upcoming 2020 Summer Olympics in Japan have increased the level of interest in sports in Asia.

Leading Companies

The major vendors in the global sports medicine market include Arthrex, Inc (US), Smith & Nephew plc (UK), Stryker Corporation (US), Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany), and Bauerfeind AG (US).

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