Sports Medicine Devices Market - Forecast (2022 - 2027)

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Sports Medicine Devices Market - Forecast (2022 - 2027)

Sports Medicine Devices Market Size is estimated to reach $7.5 billion by 2027.

Sports Medicine Devices Market Overview

Sports Medicine Devices Market Size is estimated to reach $7.5 billion by 2027. Furthermore, it is poised to grow at a CAGR of 7.9% over the forecast period of 2022-2027. Sports medicine, also known as sports and exercise medicine is a discipline of medicine that focuses on physical fitness, as well as the treatment and prevention of sports and exercise-related injuries. Orthopaedics devices are used to prevent and manage musculoskeletal system problems such as sprains and strains, fracture and ligament repair, repetitive motion injuries, upper and lower back pain while playing sports. For athletes having physical deformity or physiological malfunction of some sort, prosthetic devices are used to replace, correct or support a body part. Amputees of both the upper and lower limbs use sports prostheses to participate in sports and other physical activities. They aid in the replication of the functions of fingers, arms, elbows, and other body parts.

The growing prevalence of sports injuries, increase in athlete population, rising adoption of minimally invasive surgeries and increase in the number of people inclined towards physical fitness are some of the factors driving the Sports Medicine Devices Market growth during the forecast period 2022-2027.

Report Coverage

The report: “Sports Medicine Devices Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Sports Medicine Devices Market.

By Type- Support and Recovery, Body Repair and Reconstruction, Body Evaluation and Monitoring, and Accessories

By Application- Knee Injuries, Shoulder Injuries, Ankle & Foot Injuries, Spine Injuries, Elbow & Wrist Injuries, and others.

By End Users - Ambulatory Surgical Centers, Hospitals, Orthopaedic Clinics, and others.

By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

Geographically, North America held a dominant market share in the year 2021 on account healthcare infrastructure which is well developed, children’s participation in sports activities and growing indulgence of people in sports. Asia-Pacific is expected to offer lucrative growth opportunities to the manufacturers owing to increased awareness about the health and fitness, government initiatives to promote sports and fitness and increase in healthcare expenditure. The robust of spine injuries followed by knee injuries is predicted to augment the market growth during the forecast period of 2022-2027.
Increasing prevalence sports related injuries and demand for its treatment is estimated to drive the market growth of Sports Medicine Devices Market. High cost of these devices as well as dearth of skilled professionals continues to pose threat to the market growth.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Sports Medicine Devices Market Report.

Sports Medicine Devices Market Segmentation Analysis- By Type

Sports Medicine Devices Market based on type can be further segmented into Support and Recovery, Body Repair and Reconstruction, Body Evaluation and Monitoring, and Accessories. Body Repair and Reconstruction held a dominant market share of 33.1% in the year 2021 owing to increasing prevalence of fractures, tearing of ligaments and increasing demand for prosthetics and orthobiologics. Ligaments are robust, flexible fibrous tissue cords that join bones and give joint stability. Anterior Cruciate Ligament (ACL), an injury which damages the ligaments on the inside of the knee is common in soccer, football and basketball. Increase in the demand for surgical equipment to treat sports injuries augmented the market growth.

However, Body Evaluation and Monitoring is estimated to be the fastest-growing, with a CAGR of 5.2% over the forecast period of 2022-2027 owing to increase in athletic population, health-conscious people and continuous technological advancements that provide deeper insights on body evaluations. Athletes can improve their power, speed, reaction time, and balance by evaluation and monitoring. Furthermore, it helps in evaluating athletes’ body composition affect an athlete's strength and agility. With the increase in the number of people playing sports as well as people who work out, body evaluation and monitoring is estimated to grow over the forecast period.

Sports Medicine Devices Market Segmentation Analysis- By Application

Sports Medicine Devices Market based on Application can be further segmented into Knee Injuries, Shoulder Injuries, Ankle & Foot Injuries, Spine Injuries, Elbow & Wrist Injuries, and others. Knee Injuries held a dominant market share in the year 2021. Knee injuries affect one or more of the tissues that make up the knee joint namely ligaments, tendons, cartilage, bones, and muscles. The risk of knee joint injury is increased owing to the harsh movements involved in certain sports, such as running, football, basketball, lacrosse, and skiing. Knee injuries are also caused by sudden stops, twists and turns, as well as the strain placed on the knee joint while playing a sport. According to the American Orthopaedic Society for Sports Medicine, about 150,000 ACL injuries which includes over-stretching and tearing of the anterior cruciate ligament in the knee, occur in the United States every year, thereby augmenting segment growth.

However, Spine Injury segment is estimated to be the fastest-growing, with a CAGR of 4.6% over the forecast period of 2022-2027. Sports having repetitive impact, twisting motions, or weight loading or lifting activities are all common causes of spine injury. Minor muscular strains to serious life-threatening conditions like neck fractures and cervical spinal cord injuries are all part of it. Sports account for about 10% of all spinal cord injuries. Cervical spine injuries have been estimated to be most prevalent in football players. According to FIFA, there are 265 million men and women that play football around the world. According to the Consumer Product Safety Commission (CPSC), 23,720 neck fractures were treated in hospitals' emergency rooms across the United States in 2018, thereby generating segment revenue in the forecast period.

Sports Medicine Devices Market Segmentation Analysis- By Geography

The Sports Medicine Devices Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 39% in the year 2021 as compared to the other counterparts on account of well-developed healthcare facilities, rising sports injuries and increase in the number of treatment procedure owing to increasing number of people being indulged in sports. Every year, more than 3.5 million children aged 14 and under are injured while participating in sports. Furthermore, the US Department of Health and Human Services estimates that 8.6 million sports injuries occur each year which increases the demand for Sports Medicine Devices.

However, Asia-Pacific is estimated to be the fastest-growing, with a CAGR of 10.5% over the forecast period of 2022-2027 on account of increase in demand for better healthcare facilities, rising healthcare expenditure, increasing demand for minimal invasive surgeries, increase in athlete population and growing awareness about health and fitness. According to a 2019 study published in the International Journal of Sports and Exercise Medicine by Wu Jianxi et al. found that the growing popularity of futsal in China resulted in the highest incidence of ankle-related injuries, as futsal is a whole-body contact sport of technical conflict. Thus, as the frequency of sports injuries rises, so does the demand for sports medicine devices in this region.

Sports Medicine Devices Market Drivers

Growing Prevalence Of Sports Injury is Augmenting The Market Growth.

Injuries sustained while playing a sport, athletic activities, or exercising, resulting in damage to the body tissues are known as sports injuries. Sports injuries are increasing on account of growing athletic population, rising number of health-conscious people as well as various initiative taken by the governments to promote sports and fitness. In 2019, 19.3% of the US population participated in sports and exercise on a daily basis, according to the Bureau of Labour Statistics. In England alone, an estimated two million individuals play football at least twice a month. With an increase in the number of athletes, the number of sports injuries has risen as well. According to the American Academy of Paediatrics, more than 3.5 million sports injuries occur every year.

Government Initiatives To Promote Physical Fitness And Sports is Expanding Sports Medicine Devices Industry.

Government initiatives to promote physical fitness and sports is estimated to boost the industry expansion. For instance, The Chinese government has established a national fitness plan that sets ambitious targets for people to exercise regularly, with 38.5% being the goal and to make the sports industry worth $773.6 billion by 2025, driving the market growth. According to the Australian government's figures, fourteen million Australians participate in sports each year. The Australian government launched SPORT 2030 which aimed at reduce inactivity amongst Australians by 15% by 2030, Strengthening Australia’s Sport Industry, investing in sport and recreation facilities and achieving sporting excellence. The increasing number of individuals participating in sports is estimated to result in an increase in the number of sports injuries, fuelling market growth.

Sports Medicine Devices Market Challenges

High Cost Of Sports Medicine Devices And Procedures As Well As Dearth Of Skilled Professionals Pose Threat To Market Growth.

High cost of orthopaedic implants and devices is one of the key factors impeding the market growth. Outpatient orthopaedic surgeries cost around $15,000 to $20,000 in USA. According to the Blue Cross Blue Shield estimations the average cost of an inpatient knee replacement procedure was $30,249 in 2019, which makes it less affordable. Lack of skilled professionals to perform the procedures is estimated to hinder the market growth. According to reports published by the Association of American Medical Colleges (AAMC), United States is estimated to have a shortage of between 1,900 and 12,100 medical specialists and 14,300 to 23,400 surgical specialists in the United States by 2032, posing a major restraining factor for market growth.

Sports Medicine Devices Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Sports Medicine Devices Market. The top 10- Sports Medicine Devices Market companies are-

Stryker Corporation
Arthrex Inc
Zimmer Biomet Holdings Inc
Smith & Nephew Plc
Ceterix Orthopaedics
Conmed Corporation
Mueller Sports Medicine Inc
Richard Wolf GmbH
DePuy Synthes
Osiris Therapeutics Inc.

Recent Developments

In April 2021, Smith & Nephew the global medical technology business expanded its sports medicine wireless arthroscopic tower with new fluid management and 4K surgical imaging technology. The LENS Connected Tower App can control it remotely, and it projects a heads-up display onto the arthroscopy tower, allowing surgeons to focus on the patient rather than the equipment.

In March 2021, Acuitive Technologies announced the approval of its citrespline and citrelock Ligament Reconstruction Devices, by the US Food and Drug Administration (FDA) to be sold in the sports medicine market. which use Acuitive Technologies' patented CITREGEN biomaterial technology, These products are intended to be used during orthopaedic surgeries for fixation of ligament or tendon tissue repairs of the knee, shoulder, elbow, wrist, hand, ankle, and foot.

In September 2019, Fuse Medical, manufacturer of medical devices for the orthopaedic and spine marketplace announced the launch of suture anchor product line for sports medicine devices for use in the fixation of ligament, tendon, bone, or soft tissue to bone in knee, shoulder, foot/ankle, elbow, and hand/wrist procedures.