Detailed analysis of the sports medicine market

Sports medicine is a field of medical practice related to physical activity. It is the branch of medicine associated with treating and preventing physical fitness, sports, and exercise-related injuries. It focuses on the areas of athlete performance, care, and prevention. It also includes preventative measures, such as injury prevention and compensation. In addition, it also covers areas such as body assessment, body monitoring, body reconstruction, recovery, and support, and areas such as hip injuries, ankle and foot injuries, knee injuries, back and spine injuries, and shoulder injuries. 

The global sports medicine market in 2021 was $6.90 billion, and by 2030 it is expected to reach $11.86 billion with a CAGR of 6.2% 2021-2030. North America had the largest market, with 39% in 2021.

Market Drivers

  • Over the projected period, the increasing occurrence of sports-related injuries is expected to drive growth in the worldwide sports medicine devices market. 
  • Furthermore, the growing number of football players is projected to aid market expansion. According to FIFA’s Professional Football Report 2019, there are at least 128,983 professional football players worldwide.
  • Over the forecast period, the growing number of sporting events is expected to drive growth in the worldwide sports medicine devices market. For example, the number of sports competed in each summer Olympic Games expanded from 26 in 2012 to 28 in 2016, with 33 set for 2020.
  • In 2019, Orthopedic Products dominated the worldwide sports medical devices market, accounting for 68.5% of the total value, followed by Recovery Products.

Market restraints

High costs associated with research and development projects, insufficient infrastructure facilities, risk in implant devices, high prices associated with sports medicine, and a lack of knowledge in backward economies will most likely impact the market.

Market Opportunity

The rising use of 3D printing in the production of finger splints will likely provide lucrative growth prospects for participants in the global sports medicine devices market. For example, in April 2020, the study ‘Patient-specific 3D-printed Splint for Mallet Finger Injury,’ published in the International Journal of Bioprinting, documented the use of an Ultimaker 2 Extended+ 3D printer to build a splint for a mallet finger injury.

The application of IoT in orthopedic braces and support, casts, and splints will likely provide lucrative growth prospects for participants in the global sports medicine devices market. For example, Intellirod Spine announced iLink in August 2019, a Bluetooth-enabled sensor module that can be linked to any brace, orthotic, or prosthetic to assess daily wearing compliance, upright posture time, and mobility via a free smartphone app.

Market segmentation

  • On the basis of product, Body Repair and Reconstruction held a 33.1% market share in 2021 due to an increase in fractures, ligament tears, and demand for prostheses and orthobiologics. Body Evaluation and Monitoring (via rheumatology and podiatry) are expected to grow at the fastest rate, with a 5.2% CAGR during the projection period, owing to an increase in the athletic population, health-conscious people and constant technological breakthroughs that provide deeper insights into body assessments.
  • On the basis of application, Knee Injuries held the largest share of the overall sports medicine industry in 2021. Running, football, basketball, lacrosse, and skiing all include high-impact motions that raise the risk of knee joint damage. The Spine Injury segment is predicted to grow at the fastest rate during the forecast period, with a CAGR of 4.6%. Sports that entail repetitive impact, twisting activities, or weight-bearing or lifting exercises are prone to spinal injury. Sports-related injuries account for around 10% of all spinal cord injuries. Football players are believed to be the most vulnerable to cervical spine issues.
  • In the upcoming years, the hospital sector will account for a sizable portion of the sports medicine market. The need for sports medicine is growing as a result of complicated procedures, diagnostic tests, and other medical treatments.
  • The North American sports medicine market retained a leading industry share of 39% in 2021 as a result of advanced medical facilities, an increase in sports injuries, and an increase in treatment methods brought on by more people participating in sports.

Key players in the sports medicine market are:

  • Braun Melsungen AG
  • Hanger Inc.
  • Johnson & Johnson
  • Smith & Nephew PLC
  • Medtronic
  • Novartis AG
  • Surgalign
  • others