Figure: Sports Medicine Market by Value 2015 - 2023
global market for sports medicine was valued at around USD 6.0 billion in 2017
and is expected to reach USD 10.4 billion by 2023, growing at a CAGR of around
8.3% during the forecast period of 2017 to 2023. Sports medicine, also known as
sport and exercise medicine (SEM) deals with physical fitness and the treatment
and prevention of injuries related to sports and exercise. Treatment of
injuries and disorders that often result from physical activity to help
patients maximize function and minimize disability and recovery time. Typically
soft tissue (ligaments, tendons, cartilage) injuries or disorders treated by
keyhole surgery. This market comprises products and devices used by
professional or non-professional athletes or sportspersons to prevent and protect
themselves from injuries and also to enhance performance. The sports medicine
products play an important role in the rehabilitation, recovery, protection,
endurance, and monitoring of athletes while playing sports.
Increasing research activities in sports medicine industry to introduce new treatment options into the market, rising incidence of fractures, developments in regenerative medicine, increasing demand for minimally invasive surgical procedures, technological advancements in implants, and innovations in prosthetic and implants along with increasing demand for performance monitoring devices is expected to fuel the market growth. In addition, introduction of new products and treatments options and increasing awareness further expected drive the market growth in the coming years. However, high cost associated with these devices and treatments likely to restrain the market growth.
Geographically, North America is the leading contributor to the market and is expected to retain its position during the forecast period due to high awareness, presence of large number of providers, rise in investments, rising incidence of trauma and related injuries, and various initiatives by government in the healthcare sector. However, Asia-Pacific market is expected to grow at a faster rate during the forecast period. This is predominantly due to increased healthcare awareness, technological advancements, significant investments and growing awareness among the population about the treatment options available in the market.
The report delivers a strategic analysis of the global market for sports medicine and growth forecast for the period from 2017 – 2023. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type. It also covers geographical analysis of the market with growth forecast for the period of 2017 – 2023. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.
Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in global sports medicine market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.
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