The sports medicine market size is projected to be worth USD 1,157.0 million in 2023. The market is likely to reach USD 2,062.7 million by 2033. The market is further expected to surge at a CAGR of 6.0% during the forecast period 2023 to 2033.
Key Market Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Sports Medicine Market Estimated Size in 2023 | USD 1,157.0 million |
| Projected Market Value in 2033 | USD 2,062.7 million |
| Value-based CAGR from 2023 to 2033 | 6.0% |
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The scope for sports medicine rose at a 7.4% CAGR between 2018 and 2022. The global market for sports medicine is anticipated to grow at a moderate CAGR of 6.0% over the forecast period 2023 to 2033.
| Report Attributes | Details |
|---|---|
| Market Value in 2018 | USD 809.0 million |
| Market Value in 2022 | USD 1,078.0 million |
| CAGR from 2018 to 2022 | 7.4% |
The sports medicine market experienced a significant growth during the historical period from 2018 to 2022. The market is being driven by several factors, including the increasing prevalence of sports injuries, the rising demand for minimally invasive surgical procedures, and the growing adoption of sports medicine technologies.
The prevalence of sports injuries is increasing due to factors such as the growing popularity of sports and the increasing intensity of competition. The demand for minimally invasive surgical procedures is rising due to their benefits over traditional surgical procedures, such as shorter recovery times and less pain.
The adoption of sports medicine technologies is growing due to their ability to improve the diagnosis, treatment, and prevention of sports injuries.
The forecast period from 2023 to 2033 is expected to see accelerated growth in the market. There is a growing demand for personalized sports medicine, which is tailored to the individual needs of each athlete. The adoption of wearable devices is growing due to their ability to track and analyze athletic performance and to identify potential injuries.
Artificial intelligence and machine learning are being used to develop new and innovative sports medicine technologies, such as virtual reality and augmented reality rehabilitation programs.
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The below table showcases revenues in terms of the top 5 leading countries, spearheaded by India and China. The countries are expected to lead the market through 2033.
Forecast CAGRs from 2023 to 2033
| The United States | 2.7% |
|---|---|
| The United Kingdom | 3.9% |
| India | 8.9% |
| China | 7.7% |
| Germany | 3.6% |
The sports medicine market in the United States expected to expand at a CAGR of 2.7% through 2033. The aging population in the United States is maintaining active lifestyles, leading to an increased prevalence of musculoskeletal issues and a greater need for sports medicine interventions.
Continuous advancements in medical technology, including minimally invasive surgical techniques, imaging technologies, and regenerative medicine, enhance the diagnosis and treatment of sports injuries.
The sports medicine market in Germany is anticipated to expand at a CAGR of 3.6% through 2033. Germany boasts advanced healthcare infrastructure and medical facilities, providing a strong foundation for the development and growth of the sports medicine market. Access to state of the art equipment and expertise supports the delivery of high quality sports medicine services.
Germany has a strong tradition of sports professionalism, with successful athletes and teams participating in various sports. The demand for specialized sports medicine services for professional athletes contributes to market growth.
The sports medicine market in India is poised to expand at a CAGR of 8.9% through 2033. Government initiatives to promote sports and physical fitness, including the development of sports infrastructure and programs, create an environment that fosters the growth of the sports medicine market.
The rise of sports tourism in India, with the country hosting various international sports events, contributes to the demand for sports medicine services, including medical support for athletes and attendees.
Sports medicine trends in China are taking a turn for the better. A 7.7% CAGR is forecast for the country from 2023 to 2033. The increasing adoption of e-commerce and digital health platforms in China facilitates access to sports medicine products, services, and information, contributing to market growth.
There is a growing need for high quality sports medicine services to support their training, recovery, and performance, as Chinese athletes participate in international sports competitions.
The integration of traditional Chinese medicine approaches within sports medicine practices provides a holistic approach to injury management and recovery, aligning with cultural preferences.
The sports medicine market in the United Kingdom is anticipated to expand at a CAGR of 3.9% through 2033. Continuous innovation in rehabilitation techniques, including the use of technology and evidence based approaches, supports the recovery of individuals with sports related injuries. The innovation contributes to the growth of sports medicine services.
The increasing emphasis on participation of women in sports has led to a growing awareness of gender specific health issues in athletics. Sports medicine services tailored to health needs of women, contribute to market growth.
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The below table highlights how standalone analyzers segment is projected to lead the market in terms of product type, and is expected to account for a share of 55.9% in 2023.
Based on end user, the hospitals segment is expected to account for a share of 31.0% in 2023.
| Category | Shares in 2023 |
|---|---|
| Standalone Analyzers | 55.9% |
| Hospitals | 31.0% |
Based on product, the standalone analyzers segment is expected to continue dominating the sports medicine market. The segment is expected to account for a share of 55.9% in 2023.
Advances in technology, such as improved imaging capabilities, faster processing speeds, and enhanced diagnostic accuracy, can drive the adoption of standalone analyzers. There is a higher demand for diagnostic tools that can aid in early detection and prevention of sports related injuries, as awareness about preventive healthcare grows.
The growth of sports medicine as a specialized field may contribute to an increased demand for dedicated diagnostic equipment, including standalone analyzers. Support from government initiatives or increased funding in sports medicine research and healthcare infrastructure can positively impact the market, including the standalone analyzers segment.
In terms of end user, the hospitals segment is expected to continue dominating the sports medicine market. The segment is expected to account for a share of 31.0% in 2023.
Hospitals typically have advanced diagnostic equipment, surgical facilities, and a range of specialists, making them well suited to handle complex sports related injuries. The availability of state of the art technology in hospitals can attract patients seeking advanced medical care..
Hospitals often offer a multidisciplinary approach to sports medicine, involving various specialists such as orthopedic surgeons, physical therapists, sports medicine physicians, and rehabilitation experts. The comprehensive approach can attract patients seeking integrated and holistic care.
The key strategies chosen by large companies include several growth strategies such as technology development, expansion as well and mergers and acquisitions to surge market share, reach and revenue.
| Attribute | Details |
|---|---|
| Estimated Market Size in 2023 | USD 1,157.0 million |
| Projected Market Valuation in 2033 | USD 2,062.7 million |
| Value-based CAGR 2023 to 2033 | 6.0% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific East Asia; The Middle East & Africa |
| Key Market Segments Covered | Product, Application, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Arthrex, Inc.; DePuy Synthes; Smith & Nephew Plc.; Stryker Corporation; Zimmer Biomet Holdings, Inc.; Olympus Movement Performance; Karl Storz; Tornier N.V.; Wright Medical Group N.V.; DJO Global; Ossur HF; Medtronic Plc; CONMED Corporation; Mueller Sports Medicine, Inc.; Cayenne Medical; NuOrtho Surgical Inc.; Ottobock; RTI Surgical; NuVasive, Inc. |
The market is expected to reach USD 1,157.0 million in 2023.
The market is set to expand by a CAGR of 6.0% by 2033.
The market is forecast to reach USD 2,062.7 million by 2033.
India is to be the top performing market, with a CAGR of 8.9% through 2033.
Standalone analyzers segment is preferred, and is expected to account for a share of 55.9% in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Body Reconstruction Products 5.1.1. Arthroscopy Devices 5.1.2. Meniscal Repair Device 5.1.3. Prosthetic Devices 5.1.4. Orth biologics 5.2. Body Support and Recovery Products 5.2.1. Braces and Supports 5.2.2. Compression Clothing 5.2.3. Accessories 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Knee Injuries 6.2. Shoulder Injuries 6.3. Ankle & Foot Injuries 6.4. Back & Spine Injuries 6.5. Elbow & Wrist Injuries 6.6. Hip Injuries 6.7. Others 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Arthrex, Inc. 17.2. DePuy Synthes (J&J) 17.3. Smith & Nephew Plc. 17.4. Stryker Corporation 17.5. Zimmer Biomet Holdings, Inc. 17.6. Olympus Movement Performance 17.7. Karl Storz 17.8. Tornier N.V. 17.9. Wright Medical Group N.V. 17.10. DJO Global 17.11. Ossur HF 17.12. Medtronic Plc 17.13. CONMED Corporation 18. Assumptions & Acronyms Used 19. Research Methodology
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Sports Medicine Market
