Sports Medicine Devices Market Value to Surpass USD 9,452.72 Million by 2028 | The Insight Partners
Sports Medicine Devices Market research report covers industry share, top companies analysis, size, cost structure, and drivers.
NEW YORK, UNITED STATES, March 3, 2023 /EINPresswire.com/ -- According to our new market research study on “Sports Medicine Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, End User and Geography,” the market is expected to grow from an estimated value of US$ 6,094.67 million in 2022 to US$ 9,452.72 million by 2028. It is estimated to grow at a CAGR of 7.6% from 2022 to 2028. The report highlights trends prevailing in the market and drivers and hindrances pertaining to the global sports medicine devices market growth.
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Factors such as the increasing incidence of sports injuries and the rising demand for minimally invasive methods boost the growth of the global sports medicine devices market. However, the high cost of devices and dearth of skilled professionals hinder the market growth.
Professional athletes, weekend sports players, youngsters, children (sometime adults) contribute to the increase in the incidence of the sports injuries. Most of the sports injuries are orthopedic injuries can be sprain, strain, fractures, ligament breaks, pain, and swelling. These injuries are classified as acute and chronic. According to Stanford Children's Health, ~30 million youth and children in the US play sports annually, and more than 3.5 million sports-related injuries are reported each year. According to the Board of Certification for Athletic Trainers, an estimated 2 million acute ankle injuries occur in the US. In addition, the lower extremity accounts for the majority of sports injuries worldwide. According to the Federation Internationale de Football Association (FIFA), an ankle sprain is the most common injury sustained by football players worldwide. With the surge in the participation in sports (both children and adults) and the consequent increase in sports injuries, the demand for injury management and rehabilitation is increasing across the world.
Key Companies Analysis - Arthrex Inc., Conmed Corporation, Medtronic, DePuy Synthes, Stryker, Smith & Nephew, DJO Global Inc., Zimmer Biomet, Karl Storz SE & Co., KG, and Breg Inc. are among the leading companies operating in the global sports medicine devices market.
According to a report published by BMJ Publishing Group Ltd in 2017, nearly 8% of the athletes incurred with one injury in the Rio de Janeiro 2016 Olympic Summer Games. According to the Stanford Children’s Health data published in 2018, in the US, nearly 3.5 million children and teenagers aged 14 years and below suffered from the injuries. It also stated that the highest rates of injuries occurred in the sports that involves contact and collisions, and severe injuries occurred during the individual sports and recreational activities. Additionally, ~62% of sports-related injuries occurred during the practice sessions. Therefore, the rising number of sports injuries propels the demand for sports medicine devices across the globe.
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North America dominated the global sports medicine devices market due to the rise in the number of sports injuries and the presence of various associations working in the field of sports medicine devices. US, Canada, and Mexico are witnessing a sequential change in the regional market. The US holds the largest market share, by country. As per the US Centers for Disease Control (CDC), there has been a significant rise in the number of participations in organized sports activities over the years. In the US, there are various organizations that are operational to bring progress in the field of sports medicine. For instance, the American Orthopedic Society for Sports Medicine (AOSSM) is a sports medicine organization that aims to provide comprehensive health services for the care of athletes and active people of all ages and abilities.
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Regional segments Analysis of the report-
By geography, the sports medicine devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South and Central America).
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