Sports Medicine Market Analysis

Sports Medicine Market Analysis

The market by product is categorized into body reconstruction products, body support & recovery, accessories, and others. The body reconstruction products segment is bifurcated into orthopedic implants, fracture and ligament repair products, arthroscopy devices, soft tissue repair products, prosthetics, orthobiologics. This segment garnered USD 3.5 billion revenue size in the year 2022.
 

• The segment growth is attributable to the growing focus towards new product development, thereby revolutionizing implant placement technologies. For instance, FAST-FIX FLEX Meniscal Repair System manufactured by Smith & Nephew, touted as the sole device featuring a surgeon-guided, bendable needle and shaft that allows access to all zones of the meniscus. This innovation enhances the potential for meniscal repair, leading to long-term benefits for the patient.
   
• Thus, with increased emphasis on research and development to offer effective solutions and high patient satisfaction, the segment will experience rapid growth over forthcoming period.
   

Based on injury type, the sports medicine market is segmented into knee, shoulder, foot and ankle, back and spine, hip and groin, and other injuries. The foot and ankle injuries segment dominated the market and accounted for over 18.4% business share in the year 2022.
 

• Ankle injuries are one of the most common injuries experienced by high school children and also adults. This will benefit segment growth.
   
• In 2022, exercise equipment led to approximately 445,642 injuries, making it the highest contributor to injuries within any sports and recreation category, as reported by the National Safety Council (NSC).
   

Based on end-use, the sports medicine market is segmented into hospitals, ambulatory surgical centres, physiotherapy centers, and other end-users. The hospitals segment dominated the sports medicine market and accounted for over 52% business share in the year 2022.
 

• Hospitals are increasingly forming partnerships and collaborations with sports teams, leagues, and organizations. These alliances contribute to the development of specialized sports medicine programs and services, often involving dedicated facilities within the hospital.
   
• The increasing adoption of regenerative medicine approaches, such as stem cell therapy and platelet-rich plasma (PRP) treatments, is influencing sports medicine practices in hospitals, aiming to accelerate healing and recovery procedures.
   

U.S. sports medicine market accounted for over USD 800 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.
 

• Approximately 30 million children and teenagers in the U.S. engage in organized sports, with over 3.5 million sustaining injuries each year. These injuries result in a temporary loss of participation time for the affected individuals. Further, sports-related injuries account for nearly one-third of all childhood injuries.
   
• Presence of major market players, favorable reimbursement scenarios, rising number of medical centres and growing investment in development of sports medicine will result in rapid product adoption throughout the region.
   

Moreover, developed healthcare infrastructure coupled with increasing adoption of technologically advanced devices to treat sports injuries are some of the key factors driving the market development.