Sports Medicine Market will exceed USD 9 billion by 2025
U.S. sports medicine market will grow at significant 6%+ CAGR from 2019 to 2025. Growing incidence of physical injuries due to physical activities such as sports and exercise will drive the U.S. market growth over the coming years. Government initiatives coupled with increasing focus on R&D activities for the development of superior treatment therapies for sports injuries will further drive the U.S. sports medicine industry growth.
India sports medicine market will grow considerably during the forecast timeframe to reach USD 341.9 million by 2025 owing to government initiatives to increase sports participation. Increasing number of knee injuries owing to growing participation in sports such as football and cricket will create robust demand for sports medicine products in the country. With adoption of technologically advanced products, Indian market will witness robust growth over coming years.
Body support and recovery products market is projected to witness over 6.0% CAGR during the forecast period. Increasing use of body support products such as braces and compression clothing due to low cost and high effectivity will boost the segment growth. Furthermore, rising demand for recovery products for faster recovery will stimulate segment growth.
Elbow and wrist injuries segment accounted for more than 10% market share in 2018 owing to rising incidence of acute and chronic sports injuries among athletes related to lower and upper arm. Growing number of body reconstruction surgeries will further stimulate the segment growth over the coming years.
Increasing adoption of sports medicine in clinics owing to specialized treatment and higher affordability will lead to lucrative segment growth at 6.6% CAGR during the forecast timeframe. Increasing number of skilled professionals in sports medicine clinics will further drive the segment growth.
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Some of the key companies operating in the global sports medicine market are Arthrex, Inc., CONMED Corporation, DePuy Synthes, Smith & Nephew and Stryker among others. Sports medicine industry is highly competitive market. Industry players are adopting strategies including partnerships, collaborations, merger and acquisitions to expand their product portfolio and strengthen company?s position in emerging markets.
Global Sports Medicine Market will reach over USD 9 billion by 2025; as per a new research report by Global Market Insights, Inc. Government initiatives and policies generating awareness about sports activities will impel sports medicine industry growth. For instance, the Government of India has undertaken programs such as ?Khelo India? to encourage the youth, offering robust growth opportunities for sports medicine market growth. However, inadequacy of skilled professionals will restrain sports medicine industry expansion to certain extent over the forecast timeframe.
Rising number of physicals injuries coupled with increasing surgical procedures will create demand for sports medicine products over the forecast period. Active participation of people in sports coupled with encouragement by institutions for boosting sports activities participation, resulting in high number of injuries will escalate the demand for advanced treatment therapies, positively impacting sports medicine market growth over the forecast timeframe.