Sports Medicine Devices Market Size, Share, Analysis, Regional Outlook and Forecast 2020-2026

Sports medicine is the treatment and prevention of sports related injuries. These injuries include strain, sprain, musculoskeletal injuries, soft tissue damage joint dislocation, and fractures. Increasing participation in various sports, globally is expected to fuel adoption of sports medicine over the forecast period. The field of sports medicine has a wide variety of disciplines, from physiotherapy and orthopedics, to public health and psychiatry. It aids in enhancing the physical fitness and overall performance of the athletes.

Major players in the market are focused on maintaining transparency around the cost of orthopedic braces & support, casting & splints to enhance their market share. For instance, in January 2020, Breg, Inc. released a new software release focused on improving transparency around the cost of durable medical equipment products such as knee braces, shoulder slings, splints, boots and crutches at the time of dispensement.

Major players in the market are also focused on approval and launch of new products to expand their product portfolio. For instance, in August 2019, Arthrex received the U.S. Food and Drug Administration’s clearance of its Eclipse Total Shoulder Replacement System.

Major players in the market are focused on launching new products to expand their product portfolio. For instance, in July 2019, DJO Global, Inc. launched the AltiVate Reverse Short Stem, a fully-convertible, inlay, short stem shoulder arthroplasty system in the U.S.

Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in October 2018, Arthrex, Inc. partnered with the Florida Everblades, a minor league ice hockey team based in Florida, U.S., as the team’s presenting sponsor for the second straight season.

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Restraints of the Global Sports Medicine Devices Market

Major factors hampering the growth of the sports medicine devices market during the forecast period constitutes of side effects associated with these devices, and lack of reimbursement.

Sports medicine encompasses the entire range of medical products for prevention, cure, and recovery of injuries arising from sports injuries. These injuries include sprain, strain, fractures, joint dislocation, musculoskeletal injuries and soft tissue damage.

Sports such as cricket, football, basketball, baseball, sprinting, tennis, and badminton mainly cause soft tissue damage such as anterior cruciate ligament rupture, rotator cuff tear, Achilles’ tendon tear, meniscus tear and ulnar collateral ligament damage. Generally, fractures and joint dislocation occur in rugby, wrestling, motor racing, skateboard sports, and other extreme sports.

The global sports medicine devices market is estimated to account for US$ 8,645.3 Mn in terms of value in 2020 and is expected to reach US$ 11,656.1 Mn by the end of 2027.

Global Sports Medicine Devices Market: Drivers

Increasing prevalence of sports-related injuries is expected to propel growth of the global sports medicine devices market over the forecast period. For instance, according to the National High School Sports-Related Injury Surveillance Study 2017-2018, 1,367,490 cases of sport-related were recorded in high schools in the U.S.

Moreover, increasing number of football players is also expected to aid in growth of the market. For instance, according to FIFA’s Professional Football Report 2019, there are at least 128,983 professional football players around the world.

Increasing number of sports events is expected to propel growth of the global sports medicine devices market over the forecast period. For instance, the number of sports contested at every summer Olympic Games increased from 26 in 2012 to 28 in 2016 and 33 sports are scheduled for 2020.

Orthopedic Products held dominant position in the global sports medicine devices market in 2019, accounting for 68.5% share in terms of value, followed by Recovery Products.

Global Sports Medicine Devices Market: Restraints

Dominance of local players manufacturing support and recovery products is expected to hinder growth of the market. Local manufacturers dominate the support and recovery business, which includes braces, wraps, tapes, and hot and cold gel packs. These products are available at low cost as compared to branded products.

Moreover, severe complications with total or partial hip replacement devices is also expected to hinder growth of the market.

Lack of reimbursement for academic sports injuries is expected to limit the market growth. Most of the insurance companies do not cover injuries for schools and college sports activities and in certain cases, if they do cover, additional clauses restrict the reimbursement.

Global Sports Medicine Devices Market: Opportunities

Increasing adoption 3D printing in manufacturing of finger splints is expected to offer lucrative growth opportunities for players in the global sports medicine devices market. For instance, the research ‘Patient-specific 3D-printed Splint for Mallet Finger Injury,’ published in the International Journal of Bioprinting’, in April 2020, reported use of an Ultimaker 2 Extended+ 3D printer to fabricate splint for mallet finger injury.

Moreover, increasing budget for sports is also expected to aid in growth of the market. For instance, in February 2019, the Government of India increased the sports budget by US$ 28.25 million for the financial year 2019-2020.

Use of IoT in orthopedic braces & support, casting & splints is expected to offer lucrative growth opportunities for players in the global sports medicine devices market. For instance, in August 2019, Intellirod Spine launched iLink, a Bluetooth-enabled sensor module that can be attached to any brace, orthotic or prosthetic to measure wearing compliance, upright posture time and mobility daily through a free smartphone app.

The global sports medicine devices market was valued at US$ 8,284.0 Mn in 2019 and is forecast to reach a value of US$ 11,656.1 Mn by 2027 at a CAGR of 4.4% between 2020 and 2027.

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Market Trends/Key Takeaways

Major players in the market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in November 2018, DJO Global, Inc., a provider of orthopedic technologies, partnered with SirenMD, a workplace collaboration platform, to become the exclusive sales representative for SirenMD’s sports team market.

Major players in the market are also focused on R&D to expand their product portfolio. For instance, in June 2018, Breg, Inc. hosted a co-creation workshop on bracing solutions with orthopedic surgeons and administrators

The market is witnessing several M&A activities. For instance, in February 2019, Colfax Corporation, a technology company, acquired DJO Global, Inc.

Major players in the market are focused on launching new products to expand their product portfolio. For instance, in February 2019, Breg, Inc. launched Breg Quantum OA, a next generation unloader knee brace for mild to severe osteoarthritis.

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