"Sports Medicine Market: Strategies for Future Success"

September 26, 2023

September 26^th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Sports Medicine Market.

The Sports Medicine Market  report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The sports medicine market was estimated at US$ 8.9 billion in 2021 and is expected to grow at a CAGR of 5.01% during 2022-2028 to reach US$ 10.40 billion in 2028.The primary reasons driving the market expansion are an increase in the demand for effective and user-friendly drug delivery systems and an increase in the efforts made by healthcare professionals to lower hospital errors. During the projected period, the market expansion is anticipated to be driven by the rapid development of feature-rich devices with underlying technology breakthroughs enabling safer and more convenient self-injections for patients.

Segments Analysis

By Product Type

Body reconstruction products, body support, recovery products, and accessories are the market segments for sports medicine that have been created based on product type.

By Application Type

The sports medicine market has been divided into knee injuries, shoulder injuries, foot and ankle injuries, elbow and wrist injuries, back and spine injuries, hip and groin injuries, and others. One of the most frequent injuries sustained by adults and high school students is an ankle injury. The segmental growth will profit from this. Around three million injuries were recorded in the United States in 2017 as a result of playing sports and using recreational equipment, according to information from the National Safety Council (NSC).

Regional Analysis

The sports medicine market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The sports medicine market in North America had the biggest revenue share in 2021. Rapid product uptake will occur across the region as a result of the presence of key market participants, favourable reimbursement situations, an increase in medical facilities, and expanding investments in the development of sports medicine.

Additionally, one of the main factors influencing the size of the regional market is the well-developed healthcare infrastructure along with the rising usage of technologically advanced technologies to treat sports injuries. For instance, Stryker Corporation installed almost 650 Mako surgical robots globally in 2018 and completed more than 76,900 robotic hip and knee replacement surgeries. The regional industry projections will be fueled by an increase in government initiatives as well as increased investment in research and development of cutting-edge treatment solutions.

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Sports Medicine Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

About Stratview Research

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Author : Emily