Sports Medicine Devices Global Market Report 2024

The sports medicine devices market size has grown strongly in recent years. It will grow from $7.44 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed in the historical period can be attributed to military operations and conflicts, a rise in commercial aviation, global geopolitical changes, adherence to regulatory standards and compliance, and fluctuations in fuel prices.

The sports medicine devices market size is expected to see strong growth in the next few years. It will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to the increase in military expenditure, expansion of commercial aviation, technological advancements in refueling systems, global geopolitical changes, and the adoption of sustainable aviation fuels. Key trends expected in the forecast period include automation in refueling systems, the use of unmanned aerial vehicles (UAVs), adoption of autonomous technologies, advanced fueling techniques, and enhanced safety measures.

The anticipated surge in sports-related injuries is poised to drive growth in the sports medicine device market. Sports injuries encompass a spectrum of wounds prevalent in athletic activities. Sports medicine devices, integral for injury treatment, are also utilized in performance training, physical therapy, and injury prevention. Notably, the National Safety Council reported a 20% increase in sports and recreation injuries in 2021, necessitating emergency care for 3.2 million individuals. This surge, with males being affected twice as often as females, underscores the market's growth, as 91% of injury victims received treatment and were released from emergency departments in 2021.

The burgeoning fitness and wellness industry are anticipated to propel the sports medicine device market's expansion. Encompassing diverse enterprises, services, and products promoting physical health and mental well-being, this sector relies on sports medicine devices for assistance, safety measures, and rehabilitation. In July 2023, the International Health, Racquet, and Sports Club Association highlighted the $30 billion health and fitness sector's substantial growth in 2022. Similarly, the Global Wellness Economy Monitor 2023 report projects the healthy eating, nutrition, and weight reduction industry to reach $1,079 billion in 2022, emphasizing the pivotal role of sports medicine devices in this thriving industry.

Technological advancement stands out as a prominent trend gaining traction in the sports medicine device market. Leading companies in this sector are dedicated to innovating new technologies. Illustratively, in September 2021, the UK-based medical technology company Smith & Nephew unveiled the JOURNEY II Medial Dished (MD). This product stands out for its ability to provide more natural kinematics, irrespective of the presence or absence of the posterior cruciate ligament (PCL). The entire JOURNEY II collection is strategically designed to replicate the normal forms, postures, and mobility of a healthy knee.

Leading firms in the sports medicine device market are embracing a strategic partnership approach to augment their capabilities. Strategic partnerships involve companies synergizing their strengths and resources for mutual benefits and success. A noteworthy example is Stryker Corporation, a US-based medical technology company, which, in April 2021, entered into a pioneering partnership with Minor League Baseball. This collaboration designates Stryker as the 'Official SmartRobotics Joint Replacement Partner,' allowing the marketing of Stryker's products and services in orthopedics, medical and surgical, neurotechnology, and spine.

In January 2021, DJO LLC, a prominent US-based medical device company, completed the acquisition of Trilliant Surgical for an undisclosed sum. This strategic move enables DJO to integrate Trilliant Surgical's cutting-edge product technology and clinical effectiveness into its portfolio, supporting targeted expansion into the rapidly growing US foot and ankle market, estimated at $1 billion. Trilliant Surgical, a US-based manufacturer and provider of surgical equipment, particularly sports medicine devices, enhances DJO's position in this dynamic market segment.

Major companies operating in the sports medicine devices market report are Arthrex Inc., Conmed Corporation, DJO LLC, Johnson & Johnson Services Inc., Stryker Corp., Smith & Nephew plc, Breg Inc., Mueller Sports Inc., Wright Medical Group NV, Medtronic Inc., RTI Surgical Holdings Inc., Performance Health International Limited, Karl Storz SE & Co. KG, Bauerfeind AG, MedShape Inc., Cramer Products Inc., BioTek Instruments Inc., RôG Sports Medicine, Zimmer Biomet Holdings Inc., ArthroCare Corp., Mitek Sports Medicine, DonJoy Orthopedics, Össur public limited company, Otto Bock HealthCare GmbH, Bledsoe Brace Systems, Acumed LLC, BSN medical GmbH.

North America was the largest region in the sports medicine device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the sports medicine devices market report during the forecast period. The regions covered in the sports medicine devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sports medicine devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of sports medicine devices include orthopedic devices, body reconstruction and repair tools, body support and recovery equipment, body monitoring and evaluation devices, and related accessories. Orthopedic devices are specialized tools intended to address deformities or restore and preserve the functionality of the human skeleton, joints, and related components. These devices encompass a range of products such as artificial joint implants, arthroscopy devices, fracture repair devices, prostheses, orthobiologic recovery and support products such as braces, performance monitoring devices, and various accessories. These devices find application across various sectors including ambulatory surgical centers, hospitals, orthopedic clinics, and others, catering to injuries pertaining to the knee, shoulder, ankle-foot, back-spine, hand-wrist, hip-groin, and arm-elbow regions.

The sports medicine devices market research report is one of a series of new reports that provides sports medicine devices market statistics, including sports medicine devices industry global market size, regional shares, competitors with a sports medicine devices market share, detailed sports medicine devices market segments, market trends and opportunities, and any further data you may need to thrive in the sports medicine devices industry. This sports medicine devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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