The global Sports Medicine Devices Market is estimated to be valued at Us$ 1259.84 Bn in 2023 and is expected to exhibit a CAGR Of 4.4% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sports medicine devices are aimed at preventing and treating injuries that are related to sports and physical activities. The key products in this market include orthopedic devices, such as screws, plates, rods and pins that are inserted or attached surgically during orthopedic procedures for bone fracture repair. These devices help accelerate recovery and provide structural support to healing bones.
Market key trends:
One of the key trends in the sports medicine devices market is the growing popularity of AI-based and virtual reality-enabled rehabilitation systems. Physiotherapists can now rely on advanced technologies like VR and AI to create personalized recovery programs for athletes recovering from injuries. VR allows patients to experience interactive rehabilitation exercises in a simulated environment which helps improve recovery outcomes. AI collects data on patient performance during exercises to optimize treatment plans according to individual needs and capabilities. The integration of emerging technologies is driving faster recovery rates and better patient compliance.
Segment Analysis
The global sports medicine devices market is segmented by product, application, and end user. Based on product, the market is segmented into body reconstruction and repair devices, body support and recovery devices, and body monitoring and evaluation devices. The body reconstruction and repair devices segment is expected to be the largest and fastest-growing segment during the forecast period. This growth can be attributed to the growing number of sports injuries such as shoulder injuries, knee injuries, ankle and foot injuries, elbow and wrist injuries.
Key Takeaways
The Global Sports Medicine Devices Market Size is expected to witness high growth, exhibiting a CAGR of 4.4% over the forecast period, due to the increasing participation in sports and exercise, rising incidence of sports injuries, and growing awareness about physical fitness.
Regional analysis
North America is expected to account for the largest share of the global sports medicine devices market during the forecast period. The strong presence of key players, high healthcare expenditure, growing popularity of sports, rising prevalence of lifestyle diseases, and increasing sports participation are some factors attributing to North America's large market share.
Key players
Key players operating in the sports medicine devices market are 3M Company, Arthrex, Inc., ArthroCare Corporation, Biomet, Inc., BREG, Inc., Conmed Corporation, DePuy Mitek, Inc., DJO Global, Inc., Mueller Sports Medicine, Inc., Ossur hf, and OttoBock Healthcare GmbH. 3M Company and Arthrex Inc. are the leading players in the global market.
