Sports Medicine Devices Market Estimated to Observe Technological Advancements Further

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.

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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.

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