Global Sports Medicine Market Report and Forecast 2024-2032

Global Sports Medicine Market Size

The global sports medicine market was valued at USD 8.21 billion in 2023, driven by increased sports participation and the rising advancements in minimally invasive surgical techniques and regenerative treatments. The market is expected to grow at a CAGR of 6.6% during the forecast period of 2024-2032, with the values likely to reach USD 14.59 billion by 2032.

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Global Sports Medicine Market Outlook

• Increased participation in sports and athletic activities is fuelling the incidence of sports-related injuries and thus impacts the market demand for sports medicine products and services.

• Expansion of sports medicine clinics and facilities in response to the growing need for sports medicine services and the rising preference for regenerative medicine such as platelet-rich plasma (PRP) injections and stem cell therapy are the major market trends.

• The market share is influenced by the rising patient preference for minimally invasive surgeries, innovations in medical devices, and increased merger and acquisition activities.

Global Sports Medicine Market Analysis

Sports medicine, also known as sports and exercise medicine (SEM), is a medical specialty field that focuses on the prevention, diagnosis, and treatment of sports or exercise-related injuries. It helps sports enthusiasts achieve safety and efficiency during their training and sports-related events.

The global sports medicine market is being driven by the growing participation in sports and physical activities and rising consumer awareness regarding sports medicine. The demand for sports medicine is rising because of changing consumer habits and the increasing occurrence of sports injuries across the globe. With the rise in the number of people selecting sports as their profession, owing to the availability of opportunities such as scholarships and corporate support, the industry is witnessing enhanced growth.

Further, the rising demand for minimally invasive surgeries is significantly contributing to the growth of the sports medicine industry. With the advancement in research and technology, the market has been experiencing a continuous evolution, which further ensures the delivery of optimum products for consumers. Moreover, the increased government expenditure to develop new facilities and enhance the existing sports infrastructure, coupled with the rise in the number of sports events taking place across the globe, is expected to further influence the market dynamics over the forecast period.

Global Sports Medicine Market Growth Factors

Rising Sports Participation Fuels the Demand for Effective Sports Medicine Products

Increased participation in sports and athletic activities propels the market demand for sports medicine products and services. The growing engagement in recreational sports activities further fuels the incidence of sports-related injuries and thus significantly contributes to the market growth. Market research in sports also reveals a trend towards maintaining a healthy and active lifestyle, leading to rising sports participation. A study presented at the 2023 American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting reported an increase in the severity of sports-related injuries and the number of head and neck injuries such as concussions and those requiring surgery.

Further, recent data suggests that around 700,000 patients receive cartilage repair every year in the United States, indicating the need for sports injury treatments that are effective, less invasive, and take minimal recovery time. Thus, the growing incidence of sport-related injuries among athletes and active individuals is a significant growth driver in the market.

Advancements in Surgical Techniques and Medical Devices are Poised to Bolster Market Growth

Sports market research insights indicate the advancements in surgical techniques and medical devices that are considerably bolstering the market growth. The demand for innovations such as OSSIO, Inc.'s OSSIOfiber® bio-integrative fixation technology approved by the US Food and Drug Administration (FDA) for fixing bone fractures, osteotomies, or fusions in children and adolescents is increasing in the market as an alternative to traditional metal pins and screws in orthopedic surgeries. The presence of a favorable regulatory environment for innovative bio-integrative solutions is supporting the growth of the US sports medicine market.

There is a growing preference for minimally invasive arthroscopic techniques for treating joint injuries due to reduced recovery time and lower risk of infection. Additionally, improvements in imaging technologies such as high-resolution MRI (magnetic resonance imaging) and ultrasound are enhancing the diagnosis and treatment of sports injuries, which is expected to aid in the market growth.

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Global Sports Medicine Market Trends

Expansion of Sports Medicine Clinics and Facilities Influence Market Dynamics

A significant market trend is the increase in the number of sports medicine clinics and facilities in various regions in response to the growing demand for sports medicine services. This expansion improves access to specialized care and allows more patients to receive advanced treatments for sports-related injuries. These clinics offer a range of services for treatment and rehabilitation along with the availability of advanced diagnostic technologies to enhance patient care and thus, contribute to the growth of the sports medicine market.

In March 2024, Trilife Hospital in Bengaluru (India) announced the launch of an advanced 40-bed neuro rehabilitation and sports medicine center as well as an outpatient unit to expand its operations. The facility, spanning an area of 60,000 square feet is among the largest of its kind in the city and is equipped with the latest technology and instrumentation. The center boasts a complete floor dedicated to sports medicine and neurorehabilitation that will offer services and cater to the needs of in-patients, out-patients, and those requiring longer rehab time. The care unit will be staffed with expert physiotherapists and orthopedics specialists, among others, to aid patients with sports-related injuries.

Increased Research Activities to Advance Treatments Impacts Sports Medicine Market Share

One of the major trends in the market is the increased research efforts to advance treatments and improve patient outcomes. For instance, in May 2024, a study published in PLOS ONE journal showed that non-thermal atmospheric-pressure plasma can accelerate tendon repair and can complement the current tendon treatments to enable a more reliable tendon regeneration and quicker treatment time. Such research activities that aim to find new treatments to promote bone regeneration are projected to boost market share.

Regenerative medicine can offer an alternative to traditional surgical methods by promoting natural healing and tissue regeneration and is likely to influence the industrial sports medicine landscape. Market research in the sports industry suggests that research activities are increasingly focused on the development of regenerative therapies for treating sports injuries. Moreover, there is increased funding in the research towards the integration of robotics and artificial intelligence in surgical procedures, which is likely to improve precision and outcomes and thereby impact the market demand in the coming years.

Recent Developments in the Global Sports Medicine Market

Surge in Merger and Acquisition Initiatives Boost Market Share

Several key players in the market are engaging in mergers and acquisition activities to diversify their product portfolios and expand their market reach. In November 2023, global medical technology company Smith+Nephew entered into a definitive agreement to acquire CartiHeal Ltd, a developer of implants for the treatment of osteochondral and cartilage defects in the knee, to strengthen their knee repair portfolio. It was reported that CartiHeal will receive an initial cash consideration of USD 180 million upon closing of the deal, and up to an additional USD 150 million depending on financial performance. Smith+Nephew will gain access to CartiHeal's novel sports medicine technology for cartilage regeneration in the knee called Agili-C which is expected to fuel its sports medicine business. Such strategic partnerships are likely to shape the sports medicine market dynamics in the forecast period.

Increased Private Equity Investment Activity Set to Influence the Market Landscape

In November 2023, United States-based private equity firm Norwest Equity Partners acquired United Sports Brands (a collection of six unique sports brands), marking the second investment in the company known as the global leader in sports performance and protective products. United Sports Brands also markets sports medicine and therapy, and other sport-focused accessories, sold by top retailers in over 65 countries. This investment will be directed at the continued growth of the company including new product development and expanding its international reach and footprint. Such financial support is poised to accelerate the introduction of the latest innovations in the market.

Global Sports Medicine Market Segmentation

Market Breakup by Product Type

• Body Reconstruction and Repair Devices
  • Surgical Equipment
  • Soft Tissue Repair Devices
  • Bone Reconstruction Devices
  • Others

• Body Support and Recovery Devices 
  • Brace and Other Support Devices
  • Compression Clothing
  • Hot and Cold Therapy Devices
  • Others

• Body Monitoring and Evaluation Devices
  • Cardiac Monitoring
  • Respiratory Monitoring
  • Hemodynamic Monitoring
  • Others

• Accessories
  • Bandages
  • Tapes
  • Disinfectants
  • Wraps
  • Others

Market Breakup by Application

• Knees

• Hips

• Shoulders

• Ankle and Foot

• Back and Spine

• Elbow and Wrist

• Other Applications

Market Breakup by End User

• Hospitals

• Ambulatory Surgical Centers

• Specialty/Orthopedic Clinics

• Physiotherapy Centers

• Trauma Centers

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Global Sports Medicine Market Share

Market Segmentation by Application is Expected to Witness Substantial Market Growth

Based on the application, the market is segmented into knees, hips, shoulders, ankle, and foot, back and spine, elbow and wrist, among other applications. Increased sports participation, particularly in high-impact sports like football and basketball, is leading to a higher incidence of knee injuries. Current sports medicine reports indicate the growing preference for minimally invasive surgeries, such as arthroscopy, due to shorter recovery times and lower risk of complications. Further, the market is witnessing a shift towards regenerative medicine such as platelet-rich plasma (PRP) injections and stem cell therapy to enhance healing and expedite recovery times.

In the ankle and foot segment, customized orthotic devices, known for improving comfort and performance are gaining popularity in the market. Advancements in treatment modalities such as shockwave therapy and improved surgical techniques are elevating the market value. Additionally, the surge in the use of wearables and smart devices for monitoring and enhancing athletic performance is projected to shape the sports medicine market dynamics in the forecast period.

North America is Dominating the Market

The North America sports medicine market is driven by factors such as the growing participation of people in sports and physical activity, increased awareness pertaining to the prevention and treatment of sports injuries, and rising investment in sports medicine products. The presence of a well-established healthcare infrastructure and the adoption of advanced surgical techniques and innovative devices like wearable technology further boost the US sports medicine market share. Europe also holds a high market value which can be attributed to the popularity of sports in the region and increased government initiatives promoting physical activity and sports participation.

Further, the Asia Pacific market is expected to experience significant growth over the forecast period owing to the growth of the sports industry and increased interest and participation of people in sports events. The regional market is benefitting from the rising disposable income resulting in higher spending on ports and related healthcare. Moreover, the increasing collaboration of local companies with international sports medicine firms is anticipated to augment the market share.

Competitive Landscape

The key features of the sports medicine market report include patent analysis and strategic initiatives by the leading key players. The major companies in the market are as follows:

Stryker Corporation

This American multinational medical technology corporation is a leading player in the industrial sports medicine market. Stryker's Sports Medicine business boasts a robust portfolio including implants, instrumentation, resection, and biologic solutions for repair. Its innovative sports medicine products are integrated with the latest technology for arthroscopic and open shoulder, knee, hip, and small joint procedures.

Johnson & Johnson Services, Inc.

Johnson & Johnson Services, Inc. offers a range of products and services for the sports medicine industry. Through its subsidiary DePuy Synthes (the Orthopaedics Company of Johnson & Johnson), it provides orthopedic implants for joint replacement surgeries and advanced arthroscopy products that help in performing minimally invasive surgeries for joint repair and reconstruction.

Arthrex Inc.

This United-based manufacturing company is known for its contribution to the development of orthopedic surgical devices and minimally invasive surgical technology. Arthrex offers graft options, fixation devices, and instrumentation for anterior cruciate ligament (ACL) reconstruction surgeries. Arthrex is a leading developer of arthroscopy technology and also hosts educational programs, surgical skills workshops, and training sessions for healthcare professionals.

B. Braun Melsungen AG

B. Braun Melsungen AG, a German medical and pharmaceutical device company, invests substantially in research and development initiatives to expedite the development of new technologies and products that can address the evolving needs of the sports medicine market. Through its acquired company Aesculap, Inc., B. Braun provides high-quality products, from surgical preparation to instruments, motor systems, and implants, in the field of regenerative sports medicine.

Other players in the market include Smith & Nephew plc, Zimmer Biomet, Medtronic, Össur, Mueller Sports Medicine, Inc., CONMED Corporation, Otto Bock Healthcare GmBH, Breg, Inc., DJO, LLC, and RTI Surgical, among others.

The competitive landscape of the sports medicine industry is characterized by rising investment in technological advancements and innovation. Companies are investing in the development of regenerative treatments and surgical instruments and devices for minimally invasive procedures. There is a growing emphasis on wearable devices and bio-integrative fixation technology in the field of sports medicine. Moreover, the market is witnessing strategic partnerships and collaborations to expand their offerings, enter new markets, and share technological expertise.

Key Highlights of the Report

Key Questions Answered in the Global Sports Medicine Market Report

• How much is the global sports industry worth? 
• What is the current outlook of the sports medicine market? 
• How has the size of the sports medicine market evolved over the past five years? 
• What is the market share of the leading companies in the sports medicine market?
• What are the regional markets covered in the EMR report?
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• What factors are driving the growth of the sports medicine market? 
• How does the segmentation of the sports medicine market look by product and service type? 
• What is market segmentation based on application?
• What is the market breakup based on the end user?
• What are the prevailing trends in the sports medicine market?
• How do market dynamics impact the sports medicine industry?
• Which product type will dominate the market share? 
• Which application area is expected to have a high market value in the coming years?
• Which end user will cover the highest share in the market segment? 
• What are the recent developments in the sports medicine market?
• What are the current unmet needs and challenges in the market? 
• How does the competitive landscape of the sports medicine market appear? 
• How is the sports medicine market expected to grow in Europe? 
• How does the industrial sports medicine segment perform compared to others? 
• What are the key findings from current sports medicine market research reports? 
• How are partnerships, collaborations, and mergers & acquisitions among the key market players shaping the market dynamics?