Sports Medicine Market to Surpass USD 12.04 Billion by 2031, Witnessing 5.6% CAGR Growth | SkyQuest Technology


Westford, USA, July 19, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Sports Medicine Market will attain a value of USD 12.04 billion by 2031, with a CAGR of 5.6% over the forecast period (2024-2031). Performance of an athlete is of paramount importance for any sport and sports medicine improves just that. Rapidly increasing demand for better sports medicine and growing spending of athletes on different products to enhance their performance contributes to high demand for sports medicine. Growing investments in sports medicine and R&D will also bolster market growth in the future. 

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Browse in-depth TOC on "Sports Medicine Market" 

  • Pages - 165
  • Tables - 100
  • Figures – 78

Sports Medicine Market Overview:

Report CoverageDetails
Market Revenue in 2023$ 7.78 billion
Estimated Value by 2031$ 12.04 billion
Growth RatePoised to grow at a CAGR of 5.6%
Forecast Period2024–2031
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredProduct, Injury Type, End-use, and Region
Geographies CoveredNorth America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report HighlightsUpdated financial information / product portfolio of players
Key Market OpportunitiesIntegration of digital health to create unique offerings
Key Market DriversGrowing interest and participation of people in different types of sports


Fracture and Ligament Injuries are Common in Almost All Sports Thereby Making it the Most Lucrative Segment

Increasing participation of new people in sports has also resulted in an upsurge in the incidence of several sports injuries. Most of these injuries result in fractures or ligament tears, which is why sports medicine that treats the same accounts for most revenue generation. From regenerative medicine to novel drugs, almost all aspects of medicine are being explored by sports medicine companies developing fracture and ligament repair products. 

Demand for Sports Medicine to Treat Ankle and Foot Injuries is Slated to Rise at a Robust Pace

Almost every sport that man can participate in involves the use of feet and ankles. With more and more people competing in sports, the incidence of ankle and foot injuries is projected to increase at a notable pace in the future. This is why most sports medicine companies should target this segment to ensure good business growth over the coming years.  

High Popularity of Multiple Sports Coupled with High Investments in Medicine R&D Help North America Dominate Market

Sports of all kinds are huge in North America in some or the other way. Growing emphasis on health is pushing people to perform more outdoor activities and partake in sports as well, which is helping sports medicine demand in this region. The presence of a developed healthcare infrastructure and the high availability of novel sports medicine products will also boost the market share of this region in the long run.   


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Sports Medicine Market Insights:

Drivers

  • Rising emphasis on improving athlete's performance
  • Growing participation and interest of people in sports
  • Advancements in sports medicine research

Restraints

  • High costs of sports medicine products and procedures
  • Lenghthy and stringent regulatory approval process for sports medicine products
  • Dearth of skilled professionals to administer and prescribe sports medicine 

Prominent Players in Sports Medicine Market
The following are the Top Sports Medicine Companies

  • Arthrex
  • Smith & Nephew
  • Stryker Corporation
  • Zimmer Biomet
  • DJO Global
  • Breg Inc.
  • Mueller Sports Medicine Inc.
  • Össur
  • DePuy Synthes Companies (a Johnson & Johnson company)
  • Cramer Products Inc.

View report summary and Table of Contents (TOC): 
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Key Questions Answered in Sports Medicine Market Report

  • What drives the global sports medicine market growth?
  • Who are the leading sports medicine providers in the world?
  • Which region leads the demand for sports medicine in the world?

This report provides the following insights:

  • Analysis of key drivers (rising participation of people in sports, high incidence of sports injuries, advancements in sports medicine research), restraints (stringent regulatory mandates for development and approval, high costs of sports medicine treatments and products), and opportunities (integration of digital health solutions to create innovative new sports medicine), influencing the growth of Sports Medicine market.
  • Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
  • Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Sports Medicine market. 
  • Market Development: Detailed analysis of potential regions where the market has potential to grow. 
  • Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets. 
  • Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.

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About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally. We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 

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