Sports Medicine Devices Industry Landscape and its Growth Prospect By 2021-2028

Sports Medicine Devices Market Outlook 2028
• The global sports medicine devices market was valued at US$ 9.08 Bn in 2020
• It is estimated to expand at a CAGR of 5.6% from 2021 to 2028
• The global sports medicine devices market is expected to reach the value at US$ 13.85 Bn by the end of 2028

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Analysts' Viewpoint on Sports Medicine Devices Market Scenario
Technological advancements, growing importance of sports activities among the young as well as the older population, and increasing focus on developing cost-conscious treatment methods currently form major drivers for the global sports medicine devices market. People are inclining more toward preventive care when compared to proactive care. Wearable devices such as pulse oximeter, fitness band, and others assist in monitoring stress load. These gadgets have various uses, including avoiding fatigue related injuries in athletes. This, in turn, has supported the growth of the sports medicine devices market. However, unfavorable reimbursement policies in developed countries are likely to restrain the expansion of the target market.
Rise in Sports Injuries to Drive Global Market
Sports medicine devices in medical field are used to treat and prevent sports and exercise related injuries. Various injuries caused due to sports and general exercise include head, knee & ankle injuries, muscle cramps, sprains & strains, and ligament ruptures. These devices are either surgically implanted, externally attached or used for minimally invasive procedures such as arthroscopy. These also involve use of performance monitoring devices and various accessories products such as wraps, tapes, and slings. The recovery products comprise hot and cold packs, electro stimulators, and compression clothing. The demand for arthroscopic procedures is expected to grow in the near future, owing to increase in geriatric population and sports injuries across the globe. A rise in disposable income of people in developing countries has boosted the confidence of OEMs toward these regions.

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Growth in Health Awareness and Decline in Budget Allocation for Sports Tests to Fuel Market Expansion
The growth of the global sports medicine devices market is forecast to slump due to decreased budget allocation for sports. Moreover, dearth of reimbursement policies reserved for academic sports injuries could apply brakes on market growth in the upcoming years. However, introduction of novel implants & prosthetics and development of performance monitoring equipment are envisaged to create ample opportunities in the market. Technological development on the part of joint repair implants and demand for minimally invasive procedures are envisioned to be other factors pushing market growth.
The rising awareness about health problems due to physical inactivity is impelling people to get involved in certain sports or physical activity. Furthermore, statistics of sports participation has also been rising over the recent years. As a result, the demand for sports medicine is also increasing. All these factors are likely to push horizon of sports medicine devices market in the near future.

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North America to Dominate Global Sports Medicine Devices Market
North America is expected to account for the largest share of the global sports medicine devices market, and is expected to continue to lead the market in terms of revenue generation during the forecast period. Companies operating in the North America sports medicine devices market are focusing on development of cost-conscious treatment methods. With rising involvement of elderly population in sports activities, the demand for arthroscopic procedure is expected to grow in the forthcoming years in North America. This factor is expected to be one of the key drivers of the market.
Asia Pacific is expected to be the fastest growing region in the global sports medicine devices market, owing to the increase in incidences of sports injuries and rise in awareness about fitness in the elderly population. Moreover, the lucrative presence of manufacturers operating in the Asia Pacific market are creating revenue opportunities.
Increase in Number of People with Disabilities Participating in Sports Activities
Support gained from online marketing is supposed to bode well for the world sports medicine devices market. However, there are some more important factors that could tellingly enhance market growth in the foreseeable future. For instance, encouragement given to the specially-abled to participate in sports activities could not be turned a blind eye to. In addition, rising awareness about fitness and health among the elderly and increase in the count of sports medicine associations are projected to set the tone for the growth of the market. There are some orthopedic products that could witness increase in demand in the global sports medicine devices market - for instance, arthroscopy devices. On the other hand, the prosthesis segment is foreseen to exhibit a slow pace of growth. However, the demand in the global market could increase on the back of the impressive rise of braces as star segment under support and recovery products.
Sports Medicine Devices Market: Overview
• Sports medicine refers to a branch of medical field involving physical fitness, treatment, and prevention of sports and exercise related injuries. These injuries include sprain, strain, fractures, joint dislocation, musculoskeletal injuries, and soft tissue damage.
• The global sports medicine devices market has been analyzed on the basis of factors such as technology used, success rate, reimbursement coverage, and geographical reach
• The sports medicine industry is witnessing significant benefits from online marketing. It has helped in reaching lot of people, and thereby offering them a number of services and products available under sports medicine.
• Online marketing of sports medicine has become a powerful form, where a number of sports medicine products are sold by specialists through websites
• These websites also provide options for communicating with consumers/patients. Hence, this type of marketing for sports medicine is expected to boost the growth of the global market
• Encouraging sports in physically challenged individuals has been the most important motivational task to overlook disability. Paralympics, a global level sports tournament for physically challenged individuals involves various sports such as sprinting, swimming, wheelchair tennis, and wheelchair basketball.
• Increase in disabled population is likely to support the overall prosthetics market, while motivation to overcome disability and sports participation will help in expanding the sports medicine market

Sports Medicine Devices Market: Segmentation
• In terms of orthopedic product, the global sports medicine devices market has been classified into artificial joint implants, arthroscopy devices, fracture repair devices, prosthesis, and orthobiologics
• Based on recovery & support products, the global sports medicine devices market has been categorized into braces, performance monitoring devices, accessories, and other recovery products
• Each of the segments has been analyzed in detail for sports medicine Devices trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The sports medicine devices market report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2031, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2021 to 2031 along with market size estimations.
Sports Medicine Devices Market: Regional Overview
• In terms of region, the global sports medicine Devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
• Prevalence of sports injuries in the U.S. and Canada has increased in the past few years. Injuries among young athletes is a major concern. Emphasis on achievements in sports, especially events such as world cups and Olympics, has made sports related treatment more important for the participants.
• There is also a rise in 'active' elderly population. Older adults above the age of 55 years are regularly involved in sports activities in order to have a healthy life.
• In Europe, sports injuries are common in schools and colleges, with around 3.5 million injuries occurring in the age group of 5 to 14 years old; basketball accounted for most of these injuries. Large number of these injuries need medical attention and could involve serious injuries such as joint dislocation, fractures, and soft tissue damage. Increase in sports injuries in schools and colleges is likely to drive the market in Europe.
• The sports medicine market in Asia Pacific has witnessed strong growth in the past few years, especially in major countries such as India, China, Japan, Australia, New Zealand, and South Korea. Technological advancements and increase in patient awareness about the medical treatments have led to faster development of the healthcare sector in countries such as India.

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Major Players
• The report concludes with the company profiles section that includes key information about the major players in the global sports medicine devices market
• Leading players analyzed in the report are
o Allergan plc
o Bayer AG
o F. Hoffmann-La Roche Ltd.
o Graybug Vision, Inc.
o Kubota Pharmaceutical Holdings Co., Ltd.
o Novartis AG
o Pfizer, Inc.
o Regeneron Pharmaceuticals, Inc.
o Santen Pharmaceutical Co., Ltd.
o Takeda Pharmaceutical Company Limited

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