Global Sports Medicine Devices Market Size, Share, and COVID-19 Impact Analysis, by Product (Orthopedics Devices, Body Reconstruction & Repair, Body Support & Recovery, Body Monitoring & Evaluation, Accessories), by Application (Hand, Ankle, Arm, Back, Hip), by End User (Hospitals, Ambulatory Surgery centers/Clinics, Physiotherapy Centres and Clinics), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The sports medicine devices market was valued at USD 7.3 Bn in 2021. The market is projected to grow USD 19.3 Bn in 2030, at a CAGR of 5.5%. Sports medicine is a type of medicine that focuses on increasing sports performance and physical fitness. Sport medicine products aid early injury healing and reduce the risk of future injuries. Furthermore, they apply to all other healthcare sectors, as practitioners in this field not only treat athletes but also patients with a variety of disorders. The increased rates of sports injuries and the expanding participation of people in sports and fitness-related activities are driving up demand for sports medicine. Furthermore, the market for sports medicine is likely to be driven by a move from proactive to preventative therapy for sports injuries over the forecast period.

COVID-19 ANALYSIS

The COVID-19 epidemic has triggered a global emergency. COVID-19 infection is more likely to affect surgeons and patients who frequent hospitals for various procedures. COVID-19 cases have overwhelmed German hospitals; as a result, all elective procedures have been cancelled or postponed. The sports medicine market was significantly impacted during the COVID-19 pandemic because to the postponement and cancellation of a variety of sporting events, which resulted in a decrease in sports injuries. The International Olympic Committee postponed the Tokyo Olympics and Paralympics to 2021 in March 2020. Such occurrences are expected to have an impact on market growth. To reduce the risk of infection, negative pressure suites and personal protective kits should be used, as well as ward isolation. As a result, endoscopic therapy has become more expensive overall. These issues will limit the endoscopy market's growth in 2020.

LATEST TREND

Growing Chronic Disease Burden and Increasing Geriatric Population

The rising global burden of chronic disease and the growing geriatric population are also expected to drive sports medicine usage in the coming years. Furthermore, as the ageing population grows, more medical disorders that require endoscopic intervention, such as liver abscess, gall stones, endometriosis, and intestinal perforation, are expected to boost the market for endoscopy devices in the coming years. According to the Administration on Aging (AoA) of the United States Department of Health and Human Services, around 16% of the population was over 65 years old in 2019. By 2040, this figure is predicted to rise to 21.6 percent.

DRIVING FACTORS

Increasing Prevalence of Sports Injuries

Sports injuries have been more common in recent years, owing to increased engagement in sports as well as active participation in fitness activities (as a result of the growing focus on leading healthy lifestyles). According to Stanford Children's Health, nearly 30 million adolescents and children participate in sports in the United States each year, with over 3.5 million sports injuries reported each year. The Board of Certification for Athletic Trainers estimates that 2 million acute ankle injuries occur in the United States each year.

RESTRAINTS

Concerns Pertaining to Decrement of Patient Volume

The decrease in endoscopic procedures during the COVID-19 pandemic was mostly due to a fall in patient volume in hospitals as a result of procedure rescheduling and delaying for safety concerns. Furthermore, these delays occurred after a thorough examination of the patient's medical history, and if possible, healthcare practitioners rescheduled endoscopic treatments to reduce the risk of COVID-19 exposure during hospital visits. All of these variables are expected to have an impact on the endoscopic equipment market in the future.

SEGMENTATION

The global sports medicine devices market is segmented by Product (Orthopedics Devices, Body Reconstruction & Repair, Body Support & Recovery, Body Monitoring & Evaluation, Accessories), by Application (Hand, Ankle, Arm, Back, Hip), by End User (Hospitals, Ambulatory Surgery centers/Clinics, Physiotherapy Centers & Clinics) and region. Based on the application type, the market is categorized into orthopedics devices, body reconstruction & repair, body support & recovery, body monitoring & evaluation, accessories. Based on application, the market is categorized into hand, ankle, arm, back, hip. Based on end user, the market is categorized into hospitals, ambulatory surgery centers/clinics. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Product Insights

Based on the product type segment, the global sports medicine devices market is categorized into orthopedics devices, body reconstruction & repair, body support & recovery, body monitoring & evaluation, and accessories. The body reconstruction & repair devices segment has dominated the market share of the global sports medicine devices market in 2020 owing to products like as braces, supports, and physiotherapy equipment are required. As a result of the rising incidence of sports injuries around the world, demand for these devices is expanding.

Application Insights

Based on the application segment, the global sports medicine devices market is categorized into Hand, Ankle, Arm, Back, Hip. The knee held the largest market share in 2020 of the global sports medicine devices market attributing to the rising prevalence of colorectal cancer (CRC) in younger adults, as well as the growing geriatric population in the United States, China, Japan, and India, has resulted in a greater awareness of the target demographic for CRC screening.

End User Insights

Based on the end user segment, the global sports medicine devices market is categorized into hospitals, ambulatory surgery centers/clinics, & physiotherapy centres and clinics. The hospitals segment is dominated the market share in 2020 owing to the occurrence of complex diagnostic procedures is becoming more widely used in hospitals, and government and private financing for healthcare is expanding, as is the availability of competent healthcare personnel and technologically advanced facilities.

REGIONAL INSIGHTS

The global sports medicine devices market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is dominating the market share of global sports medicine devices market owing to the Due to reduced funding allocation for sports, the global sports medicine devices market is expected to slow. Furthermore, a lack of reimbursement rules specifically designed for academic sports injuries may put a damper on market growth in the coming years. However, the launch of new implants and prostheses, as well as the development of performance monitoring technology, are expected to expand the market. Other factors expected to drive market growth include technological advancements in joint repair implants and need for minimally invasive procedures. However, Asia Pacific is expected to witness highest growth rate during the forecast period of sports medicine devices market due to the rising population and urbanization activities. Increased number of athletes and the growing popularity of various exercise activities are fueling the growth of the global sports medicine devices market. According to the Special Olympics, India saw the most growth in 2018, with around 80,000 new child athletes. However, rising middle-class customers with changing lifestyles, particularly in emerging nations like China and India, are driving demand for naturally flavored sports drinks and in turn creating the demand for the growth of the global sports medicine devices market. Some of the primary factors driving the market for sports medicine include the presence of a well-developed healthcare infrastructure, high spending, and the availability of technologically improved medical devices to treat various orthopaedic problems. Graybug Vision, Inc., for example, has placed over 650 Mako surgical robots across the world and used them to conduct over 76,900 knee and hip replacement procedures as of 2018.

INDUSTRY PLAYERS

· Allergan plc

· Bayer AG

· F. Hoffmann-La Roche Ltd.

· Graybug Vision, Inc.

· Kubota Pharmaceutical Holdings Co., Ltd.

· Novartis AG

· Pfizer, Inc.

· Regeneron Pharmaceuticals, Inc.

· Santen Pharmaceutical Co., Ltd.

· Takeda Pharmaceutical Company Limited

KEY INDUSTRY DEVELOPMENTS:

September 2020- Allergan announced to launch new Ultrasound Video Gastroscopes J10 Series in the U.S. These advanced gastroscopes enable better image quality, increase diagnostic capabilities, and help in effective disease management of the patient. 

SEGMENTATION

By Product

• Orthopedics Devices
• Body Reconstruction & Repair
• Body Support & Recovery
• Body Monitoring & Evaluation
• Accessories

By Application

• Hand
• Ankle
• Arm
• Back
• Hip

By End-User

• Hospitals
• Ambulatory Surgery Centres
• Physiotherapy Centers & Clinics

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia