Northbrook, IL -- (SBWIRE) -- 04/09/2021 -- According to the new market research report "Sports Medicine Market by Product (Body Reconstruction, Body Support & Recovery), Application (Knee Injuries, Shoulder Injuries, Foot & Ankle Injuries), End User (Hospitals, Physiotherapy Centers & Clinics) - Analysis & Global Forecast to 2025" published by MarketsandMarkets™, is expected to grow from USD 5.5 billion in 2020 to USD 7.2 billion by 2025, at a CAGR of 5.7% during the forecast period.

COVID-19 Impact on the Sports Medicine Market;

The COVID-19 outbreak has upended many lives and businesses on an unprecedented scale. Due to the pandemic, most organized sports activities have been on hold or postponed. In March 2020, the International Olympic Committee postponed the 2020 Tokyo Olympics and Paralympic to 2021. Such developments are expected to significantly affect the growth of the sports medicine market in the coming months. According to The CovidSurg Collaborative, a 120-country research initiative formed to analyze the impact of the COVID- 19 pandemic on surgeries, around 28.4 million elective surgeries worldwide will be canceled or postponed in 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19.

This collaborative has also estimated that orthopedic procedures will be the most frequently canceled procedures, with 6.3 million orthopedic surgeries canceled worldwide over 12 weeks. The growth of the sports medicine market is halted due to the Covid-19 outbreak but is expected to be restored once the situation stabilises.

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Growth Drivers: Increasing incidence of sports injuries to drive market growth;

Globally, the incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities (as a result of the growing focus on leading healthy lifestyles).

According to Stanford Children's Health, approximately 30 million adolescents and children in the US participate in sports annually, and more than 3.5 million sports injuries are reported each year. According to the Board of Certification for Athletic Trainers, an estimated 2 million acute ankle injuries occur annually in the US.

The incidence of ligament tears and fractures is high among people participating in sports. Also, the lower extremity constitutes a major portion of sports injuries, globally. With the increasing participation in sports (among children as well as adults) and subsequent growth in the incidence of sports injuries, the demand for injury management and rehabilitation is expected to increase across the globe. This is considered a positive indicator of the growth of the sports medicine market.

Geographical Scenario in Depth:

North America is expected to dominate the global sports medicine market in 2018, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the growth of the sports industry and overall participation in sports. Sporting events such as the 2008 Beijing Olympics, 2018 Winter Olympics in Korea, and the upcoming 2020 Summer Olympics in Japan have increased the level of interest in sports in Asia.

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The major players operating in the sports medicine market include Arthrex, Inc (US), Smith & Nephew plc (UK), and Stryker Corporation (US). Other players involved in this market include Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany), and Bauerfeind AG (US), Össur (Iceland), MedShape (US), Cramer Products (US), Biotek ( India), RôG Sports Medicine (US).