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The Global Sports Medicine Market size is estimated to increase by USD 2.96 billion and grow at a CAGR of 6.78% between 2023 and 2028. Market growth hinges on various factors, such as the uptick in sports injuries, burgeoning influx of novel products and treatment methods, and the surge in online medical product adoption. However, challenges loom large, including the high costs associated with orthopedic implants and other devices, along with regulatory and legal intricacies encompassing sports injury management and treatments. Moreover, market competitors face mounting pressure to prioritize category sustainability, intensifying the competitive landscape. These dynamics underscore the need for strategic maneuvering and innovation to navigate hurdles and seize growth opportunities in the orthopedic market.
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In recent years, there has been a notable shift towards regenerative medicine and proactive care, especially concerning acute ankle injuries, ligament tears, and fractures commonly encountered during sports activities or fitness activities. Adolescents and children are increasingly benefiting from orthopedic devices designed to aid in their physical activity recovery. The healthcare landscape has also witnessed a rise in telemedicine, spurred by the increase in sports activities and the shift toward home-based fitness routines. This trend underscores a growing emphasis on preventive care and mental health, recognizing the importance of holistic wellness. Home-based fitness programs not only facilitate gradual recovery but also accommodate the decrease in sports activities seen in certain demographics. As we navigate these changes, integrating eco-friendly products and innovative approaches in regenerative medicine continues to shape the future of healthcare for adolescents and adults alike.
The increasing incidence of sports injuries is notably driving the market growth. Over the years, the sports industry has been growing rapidly and with it, sports injuries have been on the rise too. Especially in the global market, incidences of sports injuries have been a major concern for athletes and medical professionals. The increasing number of injuries in sports can be attributed to multiple factors, such as improper training techniques, lack of protective gear, and inadequate rehabilitation of injured athletes.
Further, the pressure of competing at a higher level, extreme training schedules, and the urge to win at all costs have also contributed to the rise in injuries. For instance, one of the most common injuries in sports is an ankle sprain and this wound occurs when the ligaments in the ankle are stretched or torn, leading to pain and swelling. It is prevalent in sports such as basketball, soccer, and volleyball. Also, concussions are also a major concern in sports, especially in contact sports such as football and rugby. A concussion happens when there is a hurried blow to the head, leading to a disruption of normal brain function and symptoms such as dizziness, headaches, and difficulty concentrating. Therefore, the rise in the number of sports injuries is anticipated to drive the demand for the market during the forecast period.
The rise in demand for minimally invasive surgeries is the primary trend driving the market growth. The global market has been witnessing a significant increase in demand for minimally invasive surgeries. One of the major advantages of minimally invasive surgeries is decreased trauma to the body compared with traditional open surgeries. For instance, many professional football players have undergone minimally invasive surgeries for their joint injuries, allowing them to get back to the field in a matter of weeks instead of months.
Furthermore, the rise in demand for minimally invasive surgeries is the advancement in technology. The use of robotics and computer-assisted technologies in minimally invasive surgeries has also improved. For example, the use of robotics in knee surgeries has significantly reduced the risk of complications and improved patient outcomes. However, the rising incidence of sports-related injuries is also driving the demand for minimally invasive surgeries. Due to their fast recovery time and minimal scarring, minimally invasive surgeries for common sports injuries have become increasingly prevalent. Therefore, such factors are expected to drive the market growth and trends during the forecast period.
The high cost of orthopaedic implants and other devices is the major challenge impeding market growth. Orthopaedic implants and other devices are used to support different parts of the human body, such as bones, joints, and muscles. These devices are necessary for individuals who have suffered an injury or have a medical condition that requires additional support or mobility aid. An example of a costly orthopaedic device is a prosthetic limb, while prosthetics have come a long way in recent years, they can still cost tens of thousands of dollars.
However, this high cost can be a significant burden for amputees, as many insurance plans do not cover the full cost of the device. With a high cost, orthotic inserts are another type of orthopaedic device. These inserts are used to support the foot and ankle and can cost more than USD 500, while they are an effective treatment for many foot conditions, the cost can be prohibitive for some patients. The high cost of orthopaedic impacts and other devices can also be a burden for athletes. For instance, a professional football player may need to wear specialized pads or braces to protect against injury. These devices can cost thousands of dollars and may not be covered by the insurance plan of the team. Therefore, such factors are expected to impede the growth of the market in focus during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alimed Inc.- The company offers sports medicine such as AliMed Knee Brace.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the knee treatment segment will be significant during the forecast period. Knee injuries are common among various athletes, such as basketball players, football players, and runners. One of the prevalent knee injuries is the ACL tear, which can often result in long-term consequences.
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The knee treatment segment showed a gradual increase in market share with USD 1.53 billion in 2018. Knee treatments such as surgery and rehabilitation are important aspects of the sports medicine sector to help treat and prevent ACL injuries. In addition, the sports medicine market provides different types of treatments, including physical therapy, medication, and surgery, to help athletes recover from this condition. However, knee osteoarthritis is a common ailment among athletes and it occurs when the cartilage in the knee joint breaks down, leading to pain and inflammation. This progressively restricts the capacity of the athlete to perform. Sports medicine treatment options include injections and surgical procedures, such as knee replacement surgery, to ease the pain and offer relief in knee treatment. Therefore, such factors are anticipated to propel the growth of the knee treatment segment in the global sports medicine market during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, one of the major drivers of the sports medicine market is the increasing number of people participating in sports and this has led to an upsurge in the number of sports injuries, which has created a demand for sports medicine in the market. For instance, according to the National Federation of State High School Associations, over 7.61 million high school students participated in sports during the academic year 2021-2022.
However, in North America, the advancements in technology have also immensely contributed to the growth of the sports medicine market. Technological advancements have led to the development of innovative sports medicine products and services. For instance, orthopaedic implants and devices, such as joint replacements, are now widely used in sports medicine. The use of robotics in sports medicine surgeries, virtual reality-based rehabilitation, and telemedicine are other areas where technological advancements in sports medicine. Therefore, such factors are expected to fuel the growth of the regional sports medicine market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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In the realm of orthopedic care, advancements in regenerative medicine approaches such as PRP injection and stem cell therapy are transforming treatment paradigms for a spectrum of injuries, from shoulder injuries to foot & ankle injuries, and back & spine injuries. Orthopedic surgeons in developed countries leverage orthobiologics and body reconstruction products alongside minimally invasive procedures and 3-D printing technology for customized prosthetic limbs and body support & recovery aids. This technological evolution extends to exercise equipment like fitness bands and helmets, promoting safer participation in organized sports among teenagers. Amidst these innovations, the rise of telemedicine addresses shortage of physicians and enhances workflow efficiency in hospitals and ambulatory surgical centers. Concurrently, initiatives like Safe Kids World underscore rising health awareness, reducing emergency room visits through preventive measures and safe equipment such as shin guards and footwear. These strides signify a holistic approach to orthopedic care, emphasizing patient outcomes and quality of life.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
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Market growth 2024-2028 |
USD 2.96 Billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.23 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 43% |
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Key countries |
US, Germany, Canada, China, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alimed Inc., Arthrex Inc., Bauerfeind AG, Breg Inc., Conmed Corp., Core Products International Inc., DJO Global Inc., Johnson and Johnson Services Inc., KARL STORZ SE and Co. KG, Kinex Medical Co. LLC, medi GmbH and Co. KG, Medtronic Plc, Mueller Sports Medicine Inc., Ossur hf, Ottobock SE and Co. KGaA, Performance Health Holding Inc., Smith and Nephew plc, Stryker Corp., ThermoTek Inc., and Zimmer Biomet Holdings Inc. |
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Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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