14/04/2024
Uncategorized

Sports Medicine Market Global Forecasts

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The sports medicine market is projected to reach $7.2 billion by 2025, growing at a CAGR of 5.7% from 2020, according to a new report from MarketsandMarkets. Key factors driving this growth include the increasing incidence of sports injuries globally, new product innovations and advancements in regenerative medicine, and rising demand for minimally invasive surgeries.

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The rate of sports injuries has increased in recent years due to greater participation in athletic activities and fitness pursuits. An estimated 30 million children and adolescents in the U.S. alone take part in organized sports every year, with over 3.5 million injuries reported annually. There are around 2 million acute ankle injuries every year in the country as well. With more people playing sports, especially youngsters, the need for injury treatment and rehabilitation will likely rise.

However, high costs constrain faster growth. Orthopedic implants and devices are expensive, averaging over $12,000 in emerging economies. Regenerative therapies like PRP and stem cell injections cost $2,000–$5,000 per treatment. Most people cannot afford these without insurance. Expanding coverage and market penetration in developing nations provide opportunities to tap this underserved patient pool.

Among products, body support and recovery items like braces, supports and physiotherapy equipment will see the highest demand growth. These help restore mobility and function before and after surgery. More injuries spell greater utilization of these devices. Currently, knee injuries account for 40% of all sports-related injuries. So this application segment captures the largest market share. But physiotherapy centers and clinics will be the fastest growing end-user segment through 2025. Cost-effectiveness and easy access drive preference for these facilities.

Geographically, North America leads the sports medicine industry with increasing health awareness, more funding, and wider product availability aiding steady adoption. Going forward, emerging markets, especially China and India, are expected to contribute significantly thanks to expanding healthcare infrastructure, rising incomes and larger addressable patient populations.

However, the field faces a shortage of qualified specialists, which impedes market expansion. Sports medicine calls for extensive expertise in treating bone, joint and soft tissue trauma from athletic pursuits. But there are not enough orthopedic surgeons or professionals with the required training. This supply-demand gap may widen by over 30,000 in the next decade, indicating a key constraint.

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In summary, while the sports medicine space shows positive long-term outlook owing to strong fundamentals, providers would need to overcome cost and talent challenges to fully capitalize on the opportunities presented. Strategic moves around pricing, targeted expansion in developing geographies and a good talent pipeline can catalyze sustainable sector growth.

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