Sports Medicine Devices Market Size & Share to Surpass US$ 9,452.72 Million by 2028, at a 7.6% CAGR, Global Industry Demand, Value & Forecast Exclusive Report by The Insight Partners

According to our new market research study on "Sports Medicine Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, End User, and Geography," the market is expected to grow from an estimated value of US$ 6,094.67 million in 2022 to US$ 9,452.72 million by 2028; it is estimated to grow at a CAGR of 7.6% from 2022 to 2028. The report highlights trends prevailing in the market and drivers and hindrances pertaining to the sports medicine devices market growth.

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Based on product, the sports medicine devices market is segmented into body reconstruction and repair, body support and recovery, body monitoring and evaluation, and accessories. In 2022, the body reconstruction and repair segment accounted for the largest market share. Body reconstruction is a specialized treatment used for the damaged or injured skin and tissues. The reconstruction and repair helps sport person to get back on the field as quickly as possible.

The body reconstruction and repair enables are majorly done by the mode of surgeries that require products, such as autografts, allograft struts, mesh cages, cement augmentation, implants, and expandable cages. Therefore, owing to the advantages of the body reconstruction and repair for the sports injuries, the global sports medicine devices market is likely to grow with a significant growth rate in the coming years. Also, the body monitoring and evaluation segment is likely to register the highest CAGR in the market during the forecast period.

In terms of application, the global sports medicine devices market is segmented into elbow and wrist injury, shoulder injury, knee injury, ankle and foot injury, spine injury, and others. The knee injury segment is likely to hold the largest share of the market in 2022. However, the shoulder injury segment is anticipated to register the highest CAGR of 8.1% in the market during the forecast period.

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Based on end user, the sports medicine devices market is segmented into hospitals and clinics, physiotherapy centers, sport centers, and ambulatory surgery centers. The hospitals and clinics segment is likely to hold the largest share of the market in 2022. However, the physiotherapy centers segment is anticipated to register the highest CAGR of 8.0% in the market during the forecast period.

Sports Medicine Devices Market: Competitive Landscape and Key Developments; Arthrex Inc., Conmed Corporation, Medtronic, DePuy Synthes, Stryker, Smith & Nephew, DJO Global Inc., Zimmer Biomet, Karl Storz SE & Co., KG, and Breg Inc. are among the leading companies operating in the global sports medicine devices market.

Impact of COVID-19 Pandemic on Sports Medicine Devices Market
The COVID-19 outbreak severely affected medical systems in various regions across the world. The global impacts of the outbreak are being felt across several markets. The COVID-19 pandemic had significantly impacted the sports medicine device market. Several sports activities were suspended or postponed at international, regional, and national levels to control the virus spread in the first quarter of 2020. For example, in March 2020, the International Olympic Committee postponed the Tokyo 2020 Olympic and Paralympic Games to 2021. Therefore, fewer sports injuries were recorded during the initial period of the pandemic, which dropped the demand for sports medicine devices.

According to a 2021 update from the National Safety Council (NSC) in America, the Consumer Product Safety Commission (CPSC) reported that emergency room visits for consumer product-related injuries had decreased by 24% in the first seven months COVID-19 pandemic. The most significant decrease in injuries was in sports-related injuries related to athletics. However, as sports activities, resume the risk of sports-related injuries have increased again. Therefore, the COVID-19 pandemic had a short-term negative impact on the sports medicine devices market growth. However, the market is expected to grow in the coming years as sports activities started to increase from the end of 2021.

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This release was published on openPR.