Sports Medicine Market Growth and Overview Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Sports Medicine Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The sports medicine market size has grown strongly in recent years. It will grow from $7.61 billion in 2023 to $8.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rise in sports injuries, growing emphasis on physical fitness, increase in sports participation, expansion of arthroscopic procedures, focus on injury prevention programs, rising awareness among athletes..

The sports medicine market size is expected to see strong growth in the next few years. It will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to personalized medicine approaches, expansion of sports medicine clinics, nutritional strategies for performance enhancement, global sports events and sponsorships, focus on mental health in sports.. Major trends in the forecast period include technological solutions for rehabilitation, telemedicine and remote monitoring, integration of wearable technologies, advanced orthopedic technologies, collaboration with sports teams and leagues..

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Market Drivers and Trends:

The increasing number of sports injuries is expected to propel the sports medicine market's growth going forward. Sports injuries refer to injuries that are caused during sports or exercise, and they are not limited to athletes. They are commonly caused by a direct impact, overuse, or force application. Sports medicine provides treatment or support for sports injuries, so an increase in sports injuries will propel market growth. For instance, in 2021, according to a report shared by the National Safety Council, a US-based public service organization for health and safety, sports and recreational injuries in the US increased by 20% to 409,224 in 2021. Further, 91% of injury victims are treated in the emergency department with sports medicine and released. Therefore, the increasing number of sports injuries is driving the growth of the sports medicine market.

Product innovations are a key trend gaining popularity in the sports medicine market. Major companies operating in the sports medicine market are focused on developing new technological solutions to strengthen their position. For instance, in April 2021, Smith & Nephew Inc., a UK-based medical equipment manufacturing company, launched a new 4K surgical imaging technology called 4KO. The new technology is designed to improve image quality and increase the resolution by a minimum of 30%. The 4KO provides increased brightness and clarity to the surgeons so they can determine the best treatment for the patients. The new technology is meant to expand the company's sports medicine wireless arthroscopic tower.

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Major Key Players of the Market:

Stryker Corporation; Arthrex Inc.; Wright Medical Technology Inc.; Zimmer Biomet Holdings Inc.; Smith & Nephew plc; Mueller Sports Medicine Inc.; Karl Storz SE & Co KG; CONMED Corporation; Johnson & Johnson; DJ Orthopedics LLC; Breg Inc.; RTI Surgical Inc.; Performance Health International Limited; Bauerfeind AG; Ossur Corporate; Cramer Product Inc.; Medtronic plc; Bioventus LLC; Braun Melsungen AG; Hanger Inc.; AlloSource Inc.; Novartis AG; Surgalign Holdings Inc.; DePuy Synthes Companies; Acumed LLC; Integra LifeSciences Corporation; Orthofix Medical Inc.; Medline Industries Inc.; Musculoskeletal Transplant Foundation; ArjoHuntleigh

Sports Medicine Market 2024 Key Insights:

• The sports medicine market will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Rising Sports Injuries Is A Catalyst For Accelerated Growth In The Sports Medicine Market
• Innovative Advancements In Sports Medicine Is A Spotlight On Smith And Nephew's 4Ko Surgical Imaging Technology
• North America was the largest region in the sports medicine market in 2023

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