Sports medicine is a study that deals with improving physical fitness and preventing sports-associated injuries. The major objective of sports medicine is to enhance the athletic performance and prevent future injuries. Sport medicine aids in the treatment of injuries resulting from physical activity. In addition, sports medicine assists to maximize the function and minimize the disability of the patient. The key factors that drive the market growth include rise in incidence of injuries associated with sports, increase in adoption of sports activities by people, and growth in demand for minimally invasive treatment methods. The global sports medicine market was valued at $6,615 million in 2016, and is expected to reach $11,172 million by 2023, registering a CAGR of 7.7% from 2017 to 2023.
The global sports medicine market is segmented on the basis of product, application, and geography. Based on product, the market is divided into body reconstruction & repair, body support & recovery, body monitoring & evaluation, and accessories. Body reconstruction and repair is sub-segmented into implants, arthroscopy devices, fracture and ligament repair devices, prosthetic devices, and orthobiologics. Further, body support & recovery is further classified into thermal therapy products, brace and support devices, compression clothing, monitoring devices, and other products. Body monitoring & evaluation segment is categorized into cardiac monitoring & evaluation, respiratory monitoring & evaluation, hemodynamic monitoring & evaluation, muscoskeletal monitoring & evaluation, and other monitoring & evaluation. Based on application, the market is segmented into knee injuries, shoulder injuries, ankle & foot injuries, elbow & wrist injuries, hip & groin injuries, back & spine injuries, and other injuries. Geography is further analyzed on the basis of country. Body reconstruction and repair segment generated the highest revenue in 2016 registering a CAGR of 8.0% and is anticipated to reach $5,267 million by 2023. In addition, knee injuries is the highest revenue contributor throughout the forecast period owing to the increase in knee ligament injuries during any sports activity.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific witnessed rapid growth in sports medicine over the years. This is attributed to the increase in focus of sports medicine companies on opportunities offered by the countries in this region. In addition, rise in the active participation of people in various sports activities in this region supplements the market growth.
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