The sports medicine devices market size is projected to reach US$ 11.8 billion by 2031 from US$ 6.5 billion in 2023. The market is expected to register a CAGR of 10.3% during 2023–2031. Increasing participation in sports and market penetration opportunities in emerging economies will likely remain a key trend in the market.
The growth of the sports medicine devices market is estimated to grow owing to key driving factors such as increasing incidences of sports injuries and rising demand for minimally invasive methods. Furthermore, rising technological advancements in sports medicine devices will likely offer opportunities to the sports medicine devices market in the coming years.
Contributors to the increase in sports injuries are professional athletes, weekend athletes, young people, children playing in clubs, and sometimes adults. Most sports injuries are orthopedic injuries, including sprains, strains, fractures, broken ligaments, pain, and swelling. These injuries are roughly divided into acute and chronic. According to Stanford Children's Health, approximately 30 million youth and children in the US play sports annually, and more than 3.5 million sports-related injuries are reported each year. According to the Board of Certification for Athletic Trainers, an estimated 2 million acute ankle injuries occur in the US. The incidence of ligament tears and fractures is high in athletes. The incidence of sports injuries increases due to increasing participation in sports and active participation in fitness activities due to the growing focus on healthy living worldwide. Therefore, the demand for sports medicine devices is increasing due to the rising number of sports injuries worldwide.
Sports injuries are usually minor, but orthopedists try to avoid surgical interventions in the case of more significant injuries. Minor injuries can generally be treated with minimally invasive methods such as physiotherapy, orthotics, acupuncture, arthroscopic surgery, and sports medicine. Professional athletes risk their lives for excellence in their respective sports, which often leads to many sports injuries, sometimes even permanent injuries at the end of a career. Newer and minimally invasive surgical techniques for dealing with sports injuries also shorten the time it takes for players to return to sports. These treatments are less invasive than surgery and generally require a shorter recovery period. These minimally invasive methods are inexpensive. The introduction of novel implants and prostheses and the development of performance monitoring devices are creating numerous opportunities in the market. Among the procedures popular today, arthroscopy has become a major elective procedure. Frost & Sullivan estimates that approximately 180,000 to 200,000 arthroscopic procedures are performed in India.
Medical technologies play a role in many aspects of an athlete's routine, from predicting and preventing sports-related injuries to monitoring fitness and enhancing recovery after a training session or competitive outing. The rise of artificial intelligence (AI), automation, and a host of other technological breakthroughs over the same period is leading to the introduction of innovations to optimize performance, maintain fitness, and extend athletes' careers. Further, new technologies and applications are also showing the potential to provide athletes and their coaches with even more valuable biometric data, including heart rate, metabolism, workload, and core temperature, which, in turn, can be used to detect fatigue and predict its likelihood of future injury. Additionally, the increasing use of wearable devices such as resistance bands and other sensory aids to monitor stress levels and prevent fatigue-related injuries among athletes is fueling the growth of the sports medicine devices market. For example, Athletigen Technology, Inc., a performance-driven company in Nova Scotia, works with various athletes to use the information they gather about their DNA to improve their performance and health while reducing the incidence of sports-related injuries. Such cases are expected to spur market growth over the forecast period, thereby providing numerous opportunities in the market.
Key segments that contributed to the derivation of the sports medicine devices market analysis are product, application, and end user.
The geographic scope of the sports medicine devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The US is the largest market for sports medicine devices in North America. According to data published by the American Orthopaedic Society for Sports Medicine, as per the U.S. Centers for Disease Control (CDC), there has been a significant rise in the number of people participating in organized sports activities over the years. Approximately 30 million children and adolescents participate in youth sports in the US, leading to an increase in the number of sports injuries among America's young athletes. It is estimated that, More than 3.5 million kids below the age of 14 years receive medical treatment for sports injuries every year, accounting for nearly 40% of all sports-related injuries treated in hospitals. Sports are an essential part of the culture in the United States of America.
The regional trends and factors influencing the Sports Medicine Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Sports Medicine Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 6.5 Billion |
| Market Size by 2031 | US$ 11.8 Billion |
| Global CAGR (2023 - 2031) | 10.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Sports Medicine Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Sports Medicine Devices Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Sports Medicine Devices Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the sports medicine devices market are listed below:
The “Sports Medicine Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the sports medicine devices market in 2023
The growth of the sports medicine devices market is estimated to grow owing to key driving factors such as increasing incidences of sports injuries and rising demand for minimally invasive methods.
Increasing participation in sports and market penetration opportunities in emerging economies will likely remain a key trend in the market.
Arthrex Inc., Conmed Corporation, Medtronic, DePuy Synthes, Stryker, Smith & Nephew, DJO Global Inc., Zimmer Biomet, Karl Storz SE & Co., Kg, and Breg Inc.
The market is expected to register a CAGR of 10.3% during 2023–2031.