Market Overview:
During the forecast period 2019-2024, the sports medicine market is expected to record a CAGR of 7.5 percent. Some market-driven factors include rising sports injury burden, consistent innovation of new products and treatment modalities, and rising demand for minimally invasive surgery.
Injuries in sports include strains and sprains, spondylolysis and spondylolisthesis, stingers, disc injury and the disease of Scheuermann. In the United States, around 30 million children and adolescents engage in some type of organized sports, according to the sports injury Stanford children health statistics. More than 3.5 million accidents happen in the United States each year, causing some respondents to lose time. Nearly one-third of all childhood injuries are sports-related injuries.
Similarly, European nations have a big population involved in multiple sports such as soccer, basketball, volleyball, rock climbing, boating, biking, vehicle racing, etc. that carry an intrinsic danger of severe injury or wear and tear owing to extreme training programs. It is estimated that sports such as rock climbing, water sports, or horse-related sports Equestrian Activities can be attributed to about six out of 1,000 unintentional fatal injuries.
Approximately 4.5 million individuals, aged 15 and over, were treated for a sports injury in the hospital as described in the EU IDB Sports Catalog. According to statistics, the 15-24-year-old category is affected by about 25 percent of sports injuries. Team ball sports, a significant sports category segment in Europe, accounts for about 40% of all sports injuries treated by hospitals. As per the 2016 Stop Sports Injuries, Youth Sports Injury Statistics, apart from the EU IDB, about 40% of all sport-related accidents treated in hospitals are for kids aged 5-14.
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In addition, trends suggest that injury incidences are expected to rise substantially in the coming years. In addition, injury rates are expected to rise in the developing part of the world as sports and physical activity are gaining importance in the region. The present elevated injury rate in developed countries is anticipated to drive the sports medicine industry worldwide, along with growing injury incidences in advanced and developing nations.
Scope of the Report:
Sports medicine bridges science, practice, and health. It also catalyzes science evaluation, research, and sports performance comprehension. It includes joint attempts by athletic trainers, doctors, physical therapists, and sports scientists to cooperate and provide the finest medical care possible for athletic injuries and diseases.
Key Market Trends:
Implants are Expected to Grow at a Faster Pace in the Product Segment:
Under the sports injuries sub-segment of the industry studied, the design of bioresorbable implants has been continuously evolving. For the therapy of sports injuries, the use of arthroscopic processes and absorbable implants is quite prevalent for safe graft fixation.
Companies are advancing their technology over a period of time on the absorbable polymer, such as developing calcium polymer composite materials for a number of advantages over MRI imaging, metal contamination, and improved healing. Meniscus tears are very common in major sports injuries, where total knee replacement is often considered for treatment. However, for the treatment of persistent knee pain, Active Implants has made significant progress with its NUsurface Meniscus Implant.
RTI Surgical is another significant business that advances in natural implantation bone and tissue grafts and in the operating room quicker times. For many years, metal and synthetic techniques have been used for implant processes, where an important cost occurs in a company’s R&D. Implants secure an important part of the company, mainly engaged in sports injuries and medicine. With a big section of the American and European population engaged in sports at all ages, a continuous increase in demand is anticipated. The market is expected to register a higher growth rate during the forecast period due to the growth of the middle-income population, with higher healthcare expenditure and awareness of sports medicine in each country.
The United States Dominates the Market in the North American Region and is Anticipated to Follow the Same Trend in the Future:
The U.S. has the biggest market share, primarily due to the region’s elevated frequency of sports accidents. There is some form of organized sports involving about 30 million children and teens in the country.
More than 3.5 million accidents happen in the United States every year, resulting in loss of attendance time, according to the Stanford Children’s Health report. One-third of childhood injuries are sport-related, the most prevalent being sprains and strains.
Around 21% of all American children traumatic brain injuries are from sports and recreational operations. The most prevalent sports injuries in the nation are knee injuries Patellofemoral syndrome, shoulder, elbow, sciatica, and hamstring strain muscle or tendon.
Smith & Nephew PLC signed an agreement in February 2017 with Leaf Healthcare, a California-based developer of a distinctive wireless surveillance scheme for injury prevention patients. This arrangement allows a nationwide client base to use this technology. LEOMO Inc., a firm headquartered in San Diego, has entered into a collaboration with scientists in sports medicine and biomechanics to validate that its product, TYPE-R, can offer advantages in the identification, response, and avoidance of accidents in athletes, particularly in competitive cyclists, triathletes and trainers. With many sports injuries and major players involved in active research, the United States sports medicine market is expected to grow over the forecast period.
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Competitive Landscape:
Few significant players dominate the sports medicine industry and are moderately competitive. The main players in this industry are
- Medtronic PLC.
- CONMED Corporation
- Smith & Nephew PLC
- Stryker Corporation
- Zimmer Biomet Holdings Inc.
Some fresh businesses are also penetrating the market with technological developments in implants and increasing price competition.
Table of Content Covers the Topics mentioned below
- Introduction
- Research Methodology
- Market Analysis
- Market Dynamics
- Sports Medicine Market – by Product
- Sports Medicine Market – by Application
- Sports Medicine Market – by Geography
- Sports Medicine Market – Company Profiles
- Market Competitive Landscape
- Market Insights
- Appendix
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