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The sports medicine devices market is likely to be valued at US$ 6,094.67 million in 2022 and is projected to reach to a value of US$ 9,452.72 million by 2028; it is expected to grow at a CAGR of 7.6% from 2022 to 2028.
Sports medicine is a branch of health care that increases athletic performance and improves physical fitness. Sports medicine devices promote early recovery from injuries and prevent the risk of future injuries. Various injuries caused by sports and general exercise are head, knee, and ankle injuries; muscle spasms; sprains and strains; and torn ligaments. These devices can be surgically implanted, externally attached, or used for minimally invasive procedures such as arthroscopy. The devices also comprise performance monitoring devices and various accessories, such as bandages, bands, and slings. Orthopedic devices prevent and treat musculoskeletal problems, such as sprains and strains, fracture and ligament repairs, repetitive motion injuries, and upper and lower back pain associated with sports. In athletes with a physical deformity or any physiological dysfunction, prostheses replace, correct, or support a body part. Amputees of upper and lower extremities use sports prostheses to participate in sports and other physical activities. They help replicate the functions of the fingers, arms, elbows, and other body parts.
Report Coverage
The scope of the global sports medicine devices market consists of product, application, end user, and geography. The sports medicine devices market is segmented into five regions North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the sports medicine devices market, emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the globe.
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Sports Medicine Devices Market: Strategic Insights
Market Size Value in US$ 6,094.67 million in 2022 Market Size Value by US$ 9,452.72 million by 2028 Growth rate CAGR of 7.6% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2022
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Sports Medicine Devices Market: Strategic Insights
| Market Size Value in | US$ 6,094.67 million in 2022 |
| Market Size Value by | US$ 9,452.72 million by 2028 |
| Growth rate | CAGR of 7.6% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Lucrative Regions for Sports Medicine Devices Market
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Market Insights
Rising Technological Advancements in Sports Medicine Devices
Medical technologies play a role in many aspects of an athlete's routine, from predicting and preventing sports-related injuries to monitoring fitness and enhancing recovery after a training session or competitive outing. The rise of artificial intelligence (AI), automation, and a host of other technological breakthroughs over the same period is leading to the introduction of innovations to optimize performance, maintain fitness, and extend athletes' careers. Further, new technologies and applications are also showing the potential to provide athletes and their coaches with even more valuable biometric data, including heart rate, metabolism, workload, and core temperature, which, in turn, can be used to detect fatigue and predict its likelihood of future injury.
3D printing is emerging as essential technology, and 3D printing of implants is expected to have a significant impact on orthopedics. Furthermore, this is due to various advantages of 3D printed implants, such as individual adaptation to patient requirements, lower costs (compared to commercially available implants), lower toxicity and higher patient acceptance, and efficient and fast production. For example, in May 2019, Kwambio (a Ukraine-based ceramic 3D printing service provider) launched a 3D bioprinting project called ADAM, which collaborated with WeFund Ventures (a European investment firm). This joint initiative aimed to develop a continuous 3D scanning and 3D printing process for the production of artificial bones. Prosthetic limbs evolved to incorporate advanced materials, such as plastics and carbon fiber composites. Further, technological advances and novel innovations such as bionics, sensors, artificial intelligence, and micro-mechatronics have been achieved in prosthetics. For example, in March 2019, a San Francisco-based company specializing in 3D-printed medical wearables announced the launch of the UNYQ socket, a 3D-printed prosthetic leg at the British Association of Prosthetics and Orthotists (BAPO) in Harrogate, Great Britain.
Additionally, the increasing use of wearable devices such as resistance bands and other sensory aids to monitor stress levels and prevent fatigue-related injuries among athletes is fueling the growth of the sports medicine devices market. For example, Athletigen Technology, Inc., a performance-driven company in Nova Scotia, works with various athletes to use the information they gather about their DNA to improve their performance and health while reducing the incidence of sports-related injuries. Such cases are expected to spur market growth over the forecast period, thereby providing numerous opportunities in the sports medicine devices market.
Product-Based Insights
Based on product, the sports medicine devices market is segmented into body reconstruction and repair, body support and recovery, body monitoring and evaluation, and accessories. In 2022, the body reconstruction and repair segment is likely to hold the largest market share. Body reconstruction is a specialized treatment used for the damaged or injured skin and tissues. The reconstruction and repair helps sport person to get back on the field as quickly as possible. The body reconstruction and repair enables are majorly done by the mode of surgeries that require products, such as autografts, allograft struts, mesh cages, cement augmentation, implants, and expandable cages. Therefore, owing to the advantages of the body reconstruction and repair for the sports injuries, the global sports medicine devices market is likely to grow with a significant growth rate in the coming years. Also, the body monitoring and evaluation segment is likely to register the highest CAGR in the market during the forecast period.
Global Sports Medicine Devices Market, by Application – 2022 & 2028
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Application-Based Insights
Based on application, the global sports medicine devices market is segmented into elbow and wrist injury, shoulder injury, knee injury, ankle and foot injury, spine injury, and others. The knee injury segment is likely to hold the largest share of the market in 2022. However, the shoulder injury segment is anticipated to register the highest CAGR in the market during the forecast period.
End User-Based Insights
In terms of end user, the global sports medicine devices market is segmented into hospitals and clinics, physiotherapy centers, sport centers, and ambulatory surgery centers. The hospitals and clinics segment is likely to hold the largest market share in 2022, and the physiotherapy centers segment is anticipated to register the highest CAGR in the market during the forecast period.
The COVID-19 outbreak severely affected medical systems in various regions across the world. The global impacts of the outbreak are being felt across several markets. The COVID-19 pandemic had significantly impacted the sports medicine device market. Several sports activities were suspended or postponed at international, regional, and national levels to control the virus spread in the first quarter of 2020. For example, in March 2020, the International Olympic Committee postponed the Tokyo 2020 Olympic and Paralympic Games to 2021. Therefore, fewer sports injuries were recorded during the initial period of the pandemic, which dropped the demand for sports medicine devices. According to a 2021 update from the National Safety Council (NSC) in America, the Consumer Product Safety Commission (CPSC) reported that emergency room visits for consumer product-related injuries had decreased by 24% in the first seven months COVID-19 pandemic. The most significant decrease in injuries was in sports-related injuries related to athletics. However, as sports activities, resume the risk of sports-related injuries have increased again. Therefore, the COVID-19 pandemic had a short-term negative impact on the sports medicine devices market growth. However, the market is expected to grow in the coming years as sports activities started to increase from the end of 2021.
Companies adopt product launches and expansion strategies to expand their footprint across the world, meet the growing demand, and expand their product portfolio.
The players operating in the global sports medicine devices market adopted product innovation strategy to cater to the changing customer demands across the world, which also permits the players to maintain their brand name globally.
- In May 2022, INHANCE Shoulder System from DePuy Synthes received 510(k) clearance from the U.S. Food and Drug Administration (FDA) The system can be used in reverse total shoulder arthroplasty procedures. This clearance was in addition to the system’s already cleared use in anatomic shoulder arthroplasty and provides surgeons with interoperative flexibility.
- In November 2021, DePuy Synthes launched the UNIUM System. The system is used in the trauma setting, as well as in small bone, sports medicine, and spine and thorax procedures.
- In November 2021, Smith & Nephew introduced the LEGION CONCELOC Cementless Total Knee System with proprietary 3D printed Advanced Porous Titanium technology. CONCELOC is created in a virtual environment and manufactured through 3D printing additive manufacturing to optimize its porous structure to promote bony ingrowth.
By geography, the global sports medicine devices market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Company Profiles
- Arthrex Inc.
- Conmed Corporation
- Medtronic
- DePuy Synthes
- Stryker
- Smith & Nephew
- DJO Global Inc.
- Zimmer Biomet
- Karl Storz SE & Co., KG.
- Breg Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The knee injury segment dominated the global sports medicine devices market and held the largest market share of 29.64% in 2021.
The hospitals and clinics segment dominated the global sports medicine devices market and held the largest market share of 36.64% in 2021.
The sports medicine devices market majorly consists of the players such as Arthrex Inc., Conmed Corporation, Medtronic, DePuy Synthes, Stryker, Smith & Nephew, DJO Global Inc., Zimmer Biomet, Karl Storz SE & Co., KG, and Breg Inc. among others.
The body reconstruction and repair segment dominated the global sports medicine devices market and held the largest market share of 37.64% in 2021.
Sports medicine is a branch of health care that increases athletic performance and improves physical fitness. Sports medicine devices promote early recovery from injuries and prevent the risk of future injuries. Various injuries caused by sports and general exercise include head, knee, and ankle injuries, muscle spasms, sprains and strains, and torn ligaments. These devices are either surgically implanted, externally attached, or used for minimally invasive procedures such as arthroscopy. This also includes using performance monitoring devices and various accessories such as bandages, bands, and slings. Orthopedic devices prevent and treat musculoskeletal problems such as sprains and strains, fracture and ligament repairs, repetitive motion injuries, and upper and lower back pain associated with sports. In athletes with a physical deformity or any physiological dysfunction, prostheses replace, correct, or support a body part. Amputees of both upper and lower extremities use sports prostheses to participate in sports and other physical activities. They help replicate the functions of the fingers, arms, elbows, and other body parts.
The factors driving the growth of the market are the increasing incidences of sports injuries and rising demand for minimally invasive methods that are expected to boost the growth of the global sports medicine devices market.
The List of Companies - Sports Medicine Devices Marke
- Arthrex Inc.
- Conmed Corporation
- Medtronic
- DePuy Synthes
- Stryker
- Smith & Nephew
- DJO Global Inc.
- Zimmer Biomet
- Karl Storz SE & Co., KG
- Breg Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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