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Sports Medicine Market to surpass USD 9.66 Billion by 2030 owing to the market for sports medicine is constrained by the landscape of competition.

01-31-2024 12:17 PM CET | Health & Medicine

Press release from: SNS Insider Pvt Ltd

Sports Medicine Market

Sports Medicine Market

Based on SNS Insider's research, new ways of treating and healing sports injuries are emerging from the development of regenerative medicine, which includes stem cell therapy and platelet infusion. In the field of sports medicine, regeneration approaches are becoming more and more accepted.

Market Size-

The SNS Insider report indicates that the Sports Medicine Market was valued at USD 5.22 Billion in 2022, and is expected to reach market size of USD 9.66 Billion by 2030, with a compound annual growth rate (CAGR) of 8.0% expected over the forecast period from 2023 to 2030.

Market Report Scope -

Market intelligence is provided in the most comprehensive way in this report. The structure of the report has been preserved so as to maximise its business value. This report provides essential insight to the market dynamics, which will allow for strategic decision making on both sides of the market by incumbent and potential entrants.

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Key players
- Performance Health Holding, Inc.,
-Smith+Nephew,
-Zimmer Biomet,
-Stryker,
-Enovis (DJO Global),
-CONMED Corporation,
-Arthrex GmbH, Breg, Inc.,
-Bauerfeind AG,
-Mueller Sports Medicine, Inc.
-and other players.

Market Opportunities-

Opportunities for expansion and market penetration in the developing economies.

Emerging countries such as India and China are home to a large patient base and are expected to offer potential growth opportunities for players operating in the global market primarily due to the rising disposable incomes in these countries (as a result of the rapid economic growth) and increasing participation in sports and physical activities. In addition, the governments of these countries are currently working on initiatives to enhance and modernise their healthcare infrastructures.

Segmentation Analysis -

By Product
-Body Monitoring and Evaluation Devices
-Body Support & Recovery Products
-Body Reconstruction & Repair
-Accessories

By Application
-Shoulder Injuries
-Knee Injuries
-Back & Spine Injurie
-Ankle & Foot Injuries
-Hip Injuries
-Elbow & Wrist Injuries
-Other Injuries

Body reconstruction and repair accounted for the highest revenue share of 38.9% in 2022, according to product type. Equipment for soft tissue repair, bone reconstruction, and surgical equipment are part of the body reconstruction and repair segment. Increasing use of fracture and ligament repair devices, as well as increased adoption of arthroscopy equipment in miniaturised surgical procedures have contributed to a large market share.

In 2022, the knee application segment accounted for the highest revenue share, due to an increasing number of knees being injured. They are most often reported during sports and other forms of exercise, as high levels of running and climbing cause knee joints to get worn out and damaged. Dry Needling, Soft Tissue Massage, Osteopathy Manipulation, Platelet Rich Plasma Therapy and Arthroscopic Procedures for Knee Reconstruction are some of the latest treatments available. One of the main drivers for growth in this segment is the availability of a wide range of treatments, as well as an increasing incidence of knee injuries.

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Key Regional Development -

The market was dominated by North America, which accounted for 45.2% of the revenue in 2022. One of the main drivers of the market is the presence of a well developed healthcare infrastructure, high expenditure and the availability of technologically advanced medical devices for the treatment of various orthopedic injuries. For example, in December 2022, Stryker introduced Citrefix, a suture anchor system for foot and ankle surgery that uses the company's Citregen material, which imitates the structure and chemistry of native bone to promote natural healing and bone regeneration.

During the forecast period, growth in the Asia Pacific region is projected to be strongest. The number of people taking part in sports has increased as a result of an increase in awareness about the benefits of physical activity for regional populations. Consequently, in countries such as China, Japan and South Korea the use of sports medicine is on an increasing trend. The increased demand for sports medicine products and services is driven by the presence of a strong population base in this region, together with increasing incidences of sporting related injuries.

Key Takeaway from Sports Medicine Market Study-

Develop an in depth understanding of the underlying factors that are driving demand for different sports medicine market segments from top spending countries around the world, and identify opportunities available to each.

Understanding of the market with regard to demand drivers, industry trends, and the latest technological developments, among others. To provide a clear picture of future opportunities that can be exploited, resulting in increased revenues, identify the main channels that are driving the global sports medicine market.

Recent Development Related to Sports Medicine Market -

In September 2022, Zimmer Biomet has received clearance from the U.S. Food and Drug Administration for its identity shoulder system, which is intended to be reversed, anatomic or revisionary arm replacements.

In February 2022, CrossRoads Extremity Systems, a manufacturer of foot and ankle solutions, has been purchased by DePuy Synthes. This acquisition helps to stimulate innovation in the area ofodiatric, orthopedic and medical technology by means of Internal and External Innovation.

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Table of Contents

1.Introduction

2.Research Methodology

3.Market Dynamics

4.Impact Analysis

4.1COVID-19 Impact Analysis

4.2.Impact of Ukraine- Russia war

4.3.Impact of Ongoing Recession on Major Economies

5.Value Chain Analysis

6.Porter's 5 Forces Model

7.PEST Analysis

8.Sports Medicine Market Segmentation, By Product

9.Sports Medicine Market Segmentation, By Application

10.Regional Analysis

11. Company Profile

12.Conclusion

continued

Access Complete Report Details with Toc and Graphs@ https://www.snsinsider.com/reports/sports-medicine-market-3482

Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Website: https://www.snsinsider.com

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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