Global Sports Medicine Market is Set for a Rapid Growth and is Expected to Reach around USD 8,152.5 Million by 2022
Sarasota, FL -- (SBWIRE) -- 07/18/2018 -- Zion Market Research has published a new report titled "Sports Medicine Market by Product Type (Body Reconstruction Products, Body Support & Recovery and Accessories) and by Application like Shoulder Injuries, Ankle & Foot Injuries, Elbow & Wrist Injuries, Back & Spine Injuries, Hip & Groin Injuries, Knee Injuries and Other Injuries - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2022.
According to the report, the global sports medicine market accounted for around USD 5,621.0 million in 2016 and is expected to reach approximately USD 8,152.5 million by 2022, growing at a CAGR of around 8.25% between 2017 and 2022.
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Sports medicine is a broad field of medical practices related to physical and sports activity. Sports medicine focuses on areas of performance enhancement, injury care and prevention of sportsmen's. Sports medicine includes preventative measures like injury prevention, and treatments such as rehabilitation and osteopathic. Sports medicine also covers exercise intervention to prevent and manage chronic diseases. Sports Medicine team includes Sports Orthopedic Surgeons, the Sports Physicians, Sports Physiotherapists, Sports Trainers, Sports Massage Therapists, Sports Podiatrists and Sports Scientists.
Technological advancement and new product launches are expected to have a positive influence on regional demand. Thus, increasing demand due to rising incidence of sports injuries is the key factor driving the growth of this market. Moreover, government initiatives for sports industry are continuously responsible for the growth of the market. However, the high cost of products may hinder the growth of sports medicine market. Nonetheless, untapped market and changing regulatory scenario for sports medicine are expected to open a new opportunity for sports medicine market in coming years.
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Based on the product type, the market of sports medicine has been classifying into body reconstruction products, body support & recovery and accessories. The sports medicine market is further segmented by body reconstruction products type into implants, fracture and ligament repair devices, arthroscopy devices, prosthetic devices and orthobiologics. Based on the Body Support & Recovery sports medicine market is further classified as Braces and Support, Compression Clothing and Physiotherapy. Body reconstruction products segment dominated the market of sports medicine with major market share, in 2017. In forecast period also, body reconstruction products segment is expected to exhibit noticeable growth due to increasing incident rate of sports injuries.
Based on the application type, the market is segmented as Shoulder Injuries, Ankle & Foot Injuries, Elbow & Wrist Injuries, Back & Spine Injuries, Hip & Groin Injuries, Knee Injuries and Other Injuries. Knee Injuries segment holds the largest market share of Sports Medicine. Due to rising prevalence rate of sports knee injury, Knee Injuries segment is projected to generate new opportunities for the market of sports medicine market.
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Based on region, the market for sports medicine has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominated the market with more than 40% market share and it is expected to grow at around CAGR of around 6.8 % in coming years. Europe is the second largest segment in sports medicine market is expected to show significant growth in the forecast period as a result of increasing prevalence of chronic sports injuries. The Asia Pacific is projected to grow at the fastest growth in the near future and this is due to increasing awareness and the government support towards sports industry.
Key operating players in Sports Medicine market are like Smith & Nephew Plc, Stryker Corporation, Johnson & Johnson (Depuy Mitek), Arthrex, Inc., Conmed Corporation, Zimmer Biomet Holdings, Inc., Breg, Inc., Mueller Sports Medicine, Inc., DJO Global, Inc., and Wright, Medical Group N.V.