Global Sports Medicine Device Market Shows Strong Growth with CAGR of 7.3%, Major Players Arthrex and Stryker to Lead the Industry

DUBLIN, July 21, 2023 /PRNewswire/ -- The "Sports Medicine Devices Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

The market is projected to grow from $6.86 billion in 2022 to $7.44 billion in 2023, at a compound annual growth rate (CAGR) of 8.4%. Furthermore, the market is expected to reach $9.85 billion by 2027, with a CAGR of 7.2%.

Major players in the sports medicine device market include Arthrex Inc., Conmed Corporation, DJO LLC, Johnson & Johnson Services Inc., Stryker, Smith+Nephew, Mueller Sports Medicine Inc., Zimmer Biomet, Wright Medical Group NV, Orthofix US LLC., Karl Storz SE & Co. KG, RTI Surgical, Medtronic, Santen Pharmaceutical Co. Ltd., and Kubota Pharmaceutical Holdings Co. Ltd.

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Sports medicine devices refer to devices that aid in the recovery of patients from injuries sustained while participating in sports, exercise, or other physical activities. These devices are used to prevent and treat musculoskeletal issues such as sprains, strains, fractures, ligament repairs, repetitive motion injuries, and upper and lower back pain resulting from sports activities.

The main products in the sports medicine device market include orthopedic devices, body reconstruction and repair devices, body support and recovery devices, body monitoring and evaluation devices, and accessories. Orthopedic devices refer to specialized gear designed to treat deformities or maintain and restore the functionality of the human skeleton, its joints, and related components.

Orthopedic products include artificial joint implants, arthroscopy devices, fracture repair devices, prostheses, and orthobiologic recovery and support products such as braces, performance monitoring devices, accessories, and more. The devices are used in various end-user settings such as ambulatory surgical centers, hospitals, orthopedic clinics, and others, to address injuries in the knee, shoulder, ankle-foot, back-spine, hand-wrist, hip-groin, and arm-elbow regions.

Technological advancement is a key trend gaining popularity in the sports medicine device market. Major companies operating in the sports medicine device market are focused on developing new technologies to improve treatment outcomes. For instance, in September 2021, UK-based medical technology company Smith & Nephew launched the JOURNEY II Medial Dished (MD). This product stands out for its ability to provide more normal kinematics regardless of the state or absence of the posterior cruciate ligament (PCL). The entire JOURNEY II collection is designed to mimic the normal forms, postures, and mobility of a healthy knee, enhancing patient outcomes.

North America was the largest region in the sports medicine device market in 2022, with Asia-Pacific expected to experience significant growth in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Key countries analyzed in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The rise in sports injuries is expected to boost the growth of the sports medicine device market. Sports injuries refer to various types of wounds commonly occurring during athletic activities. Sports medicine devices are used not only for injury treatment but also for performance training, physical therapy, and injury prevention. Hence, the rise in sports injuries is expected to drive the sports medicine device market.

For instance, according to a report published by the National Safety Council (NSC) in the US, injuries from sports and recreation increased by 20% in 2021. Injuries occurring while using recreational and leisure equipment required emergency care for 3.2 million people in 2021. Males are harmed approximately twice as often as females (2,158,887 females vs. 4,148,404 males), and 91% of injury victims are treated and released from emergency departments in 2021. Therefore, the rise in sports injuries is driving the growth of the sports medicine device market.

The sports medicine device market consists of sales of pedometers, accelerometers, heart rate monitors, sleep monitors, and other related devices. The market value includes the value of goods sold by the manufacturers or creators of the devices, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the devices.

Key Topics Covered:

1. Executive Summary

2. Sports Medicine Devices Market Characteristics

3. Sports Medicine Devices Market Trends And Strategies

4. Sports Medicine Devices Market - Macro Economic Scenario
4.1. COVID-19 Impact On Sports Medicine Devices Market
4.2. Ukraine-Russia War Impact On Sports Medicine Devices Market
4.3. Impact Of High Inflation On Sports Medicine Devices Market

5. Sports Medicine Devices Market Size And Growth
5.1. Global Sports Medicine Devices Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Sports Medicine Devices Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Sports Medicine Devices Market Segmentation
6.1. Global Sports Medicine Devices Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Orthopedic Devices
• Body Reconstruction And Repair
• Body Support And Recovery
• Body Monitoring And Evaluation
• Accessories

6.2. Global Sports Medicine Devices Market, Segmentation By Orthopedic Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Artificial Joint Implants
• Arthroscopy Devices
• Fracture Repair Devices
• Prosthesis
• Orthobiologic

6.3. Global Sports Medicine Devices Market, Segmentation By Recovery And Support Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Braces
• Performance Monitoring Devices
• Accessories
• Other Recovery Products

6.4. Global Sports Medicine Devices Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Knee Injury
• Shoulder Injury
• Ankle-Foot Injury
• Back-Spine Injury
• Hand-Wrist Injury
• Hip-Groin Injury
• Arm-Elbow Injury

6.5. Global Sports Medicine Devices Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Ambulatory Surgical Centers
• Hospitals
• Orthopaedic Clinics
• Other End Users

7. Sports Medicine Devices Market Regional And Country Analysis
7.1. Global Sports Medicine Devices Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Sports Medicine Devices Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/xn33ty

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