Globally, the incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities (as a result of the growing focus on leading healthy lifestyles).
According to Stanford Childrenβs Health, approximately 30 million adolescents and children in the US participate in sports annually, and more than 3.5 million sports injuries are reported each year. According to the Board of Certification for Athletic Trainers, an estimated 2 million acute ankle injuries occur annually in the US.
The incidence of ligament tears and fractures is high among people participating in sports. Also, the lower extremity constitutes a major portion of sports injuries, globally. With the increasing participation in sports (among children as well as adults) and subsequent growth in the incidence of sports injuries, the demand for injury management and rehabilitation is expected to increase across the globe. This is considered a positive indicator of the growth of the sports medicine market.
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The major restraining factor for the growth of sports medicine market is high cost of implants. The cost of these implants is a major concern for market growth in countries such as India, where only a small section of the population is under insurance coverage (according to the IRDA, in 2017, 76% of the Indian population was uninsured).
Similar to implants and prosthetics, regenerative medicine procedures are also expensive. For instance, the cost of a single PRP injection typically ranges from USD 500β2,000, whereas the cost of bone marrow stem cell injections ranges from USD 2,000β5,000 or more. Such therapeutic procedures often require more than one treatment, thus raising their overall cost.
In the sports medicine field, there is an increasing need for trained professionals with the relevant experience and knowledge about using orthobiologics and performing specific surgeries. Sports medicine surgeons provide diagnosis and treatment for musculoskeletal injuries and related disorders that are caused during sports activities.
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Sports medicine is widely used for the prevention of sports injuries as well as for the cure, recovery, and rehabilitation of athletes. The sports medicine applications market is segmented into knee injuries, shoulder injuries, foot & ankle, elbow & wrist, back & spine, hip & groin, and other injuries. The knee injuries segment held the largest share of the market in 2019, a trend that is expected to continue during the forecast period.
Based on end user segment, the market is segmented into Hospitals, Ambulatory Surgery centres and Physiotherapy Centres and Clinics. The hospitals segment accounted for the largest share of the sports medicine market. The large share of this segment can be attributed to factors like Complex diagnostic and therapeutic procedures being carried out in hospitals.
