The global Sports Medicine Market experienced a size of USD 6.92 billion in 2020, and it is projected to grow at a revenue compound annual growth rate (CAGR) of 6.4% during the forecast period. The market growth is driven by several key factors, including the increasing prevalence of sports-related injuries, the rise in the number of sports events worldwide, rapid advancements in regenerative medicines, improvements in healthcare infrastructure, and growing investments in research and development.
The world's population is experiencing shifts in their way of life, enjoying higher living standards, and reaping the rewards of technological advancements. Consequently, a substantial portion of society is increasingly embracing sustainable and health-conscious lifestyles.
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The rising prevalence of sedentary lifestyle-associated diseases such as diabetes, high blood pressure, cardiovascular diseases, and obesity has prompted people to focus on maintaining a healthy lifestyle.
Key players in the Sports Medicine Market:
· Arthrex, Inc.
· Smith and Nephew plc
· Stryker Corporation
· DJO Global, Inc.
· Mueller Sports, Inc.
· Wright Medical Group N.V.
· Medtronic
· RTI Surgical
· Performance Health International, Limited
· KARL STORZ
· Bauerfeind AG
· Össur
· MedShape, Inc.
· Cramer Products
· Biotek
· RôG Sports Medicine
Consequently, there has been a steady increase in participation in various sports and recreational activities at individual levels, as well as in schools and other educational institutes. Sports such as cricket, baseball, tennis, hockey, basketball, golf, and weightlifting, as well as activities like walking, running, bicycling, spot jumping, and swimming, have gained popularity.
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However, the overexertion of physical activities, the long-term use of improper techniques, and insufficient warm-up can lead to injuries not only among athletes or sportsmen but also among non-athletes. Professional athletes who sustain sport and exercise-related injuries may be unable to perform for an indefinite period, potentially ruining their careers. Similarly, non-athletes may be prevented from playing their favorite sports or performing routine exercises due to sports-related injuries. To prevent injuries from worsening, individuals are often advised to seek help from sports medicine practitioners who can assist them in recovering from sports injuries faster and improving their fitness levels to resume their routines as soon as possible.
Sports medicine, also known as sports and exercise medicine, is a branch of medicine that focuses on physical fitness, prevention, and treatment for exercise and sports-related injuries. Trained sports medicine doctors, physical therapists, and certified athletic trainers are available round the clock to help injured individuals recover from injuries and improve their overall performance. These professionals also provide guidance in areas such as exercises, supplements, nutrition, and injury prevention.
Therapeutic and diagnostic practices within the field of sports medicine are swiftly progressing. Beyond injury prevention and conditioning, a range of treatments, rehabilitation methods, injections, and osteopathic manipulations are extensively employed. An increasingly popular approach for tissue regeneration is the utilization of Platelet-rich Plasma (PRP) injections, which expedite the healing process after injuries. Additionally, advanced techniques such as arthroscopic surgeries for knee joint injuries, minimally invasive procedures for hip, knee, and wrist injuries, and cutting-edge computer-assisted robotic methods for partial knee and hip replacement surgeries are commonly utilized in this field.
The sports medicine market has been rapidly gaining traction in recent years due to increased healthcare spending, a rise in sports-related injuries such as fractures, strains, sprains, dislocations, and disc injuries, the rapid increase in sports and recreational activities worldwide, and advancements in treatment and products that enhance the recovery process. Additionally, the increasing investments in developing cost-effective orthopedic implants and treatment options, the growing focus on sports careers, the need to improve overall health, and the rising public awareness about sports medicine, particularly in developing countries, are expected to fuel the growth of the sports medicine market in the coming years.
In terms of market dynamics, there are several drivers and restraints impacting the growth of the sports medicine market. The increasing awareness of personal health and rising investments in developing and launching new products are key growth drivers.
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