Delaware, U.S. – Global sports medicine market is predicted to expand steadily in the coming years, owing to rising instances of sports injuries, along with surging sports participation and events. As per the National Safety Council (NSC), in terms of sports injuries, bicycling among any other sports or recreational activity accounted for about 417,000 injuries in 2019. The rise in the number of sports activities, along with growing involvement of children and teens are some major factors driving the number of injuries and the demand for sports medicines.
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Recent advancements in medical science have enabled healthcare professionals to provide effective treatment to athletes with faster recovery. There has an increasing effort by the research organization and institutes toward the expansion in the field of sports medicines. For example, the American College of Sports Medicine focuses on the development and integration of scientific research to render educational and practical applications of sports medicines.
According to GMI, forecast, global sports medicine market size is projected to surpass US$9.5 billion by 2027.
The arthroscopy devices segment of the sports medicine industry registered a revenue share of US$1 billion in 2020. Arthroscopy devices are becoming a highly adopted medical equipment for sportsperson with joint problems, as it provides minimally invasive solutions, reduces hospitalization time, and enable fast recovery. Less pain, smaller incision, minimal trauma, and low risk of infection, are some additional advantages of arthroscopic devices, making it highly favorable among sportspersons, who are looking for quicker recovery.
The sports medicine industry share from the shoulder injuries segment is predicted to expand with a CAGR of 11.1% up to 2027. Shoulder injuries are the most common phenomenon that almost every professional sportsperson experience once in their career, however, it is quite prominent among throwing athletes. It mostly occurs due to athletic activities that require excessive, repetitive, and overhead motions of shoulder joints. Pitching, swimming, and tennis are among some major sports that require such kind of shoulder momentum.
Asia Pacific sports medicine industry is anticipated to grow at 12.4% CAGR in the global market through 2027. In order to promote the sports sector, various governments, along with other private organizations in this region are taking initiatives to encourage sports participation and provide better medical facilities to sportspersons. This includes the augmentation of highly advanced medical centers and health insurance facilities.
For example, Johnson & Johnson Medical Shanghai Ltd (JJMS) joined hands with Taikang Online Insurance Co. Ltd. to introduce a comprehensive sports injury insurance package to players in the region. Additionally, the flourishing healthcare industry and increasing R&D activities to develop novel therapies should complement the sports medicine market outlook.
Prominent companies across the sports medicine industry are emphasizing on strategies such as partnerships, collaborations, and novel product development for business expansion. For example, Smith and Nephew announced the integration of new technologies, such as 4KO (Optimized) laparoscopes and arthroscopes, along with DOUBLEFLO Inflow/Outflow Pump in its INTELLIO Connected Tower Solution. The incorporation of such sophisticated technologies is likely to help the company to revolutionize treatments.
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The advent of double-bundle anterior cruciate ligament reconstruction technique, biologic solutions, and computer technology, which have the capability to analyze causes, type, and treatment of certain injury should positively influence global sports medicine industry landscape.