Sports Medicine Market

How Future Outlook on Sports Medicine Sales Compares to Historical Sales?

The increasing prevalence of various sports related injuries such as ankle, shoulder, foot, and others boosted the demand growth of sports medicine over the past years. Despite facing a temporary decline at the onset of the COVID-19 pandemic, overall, the market exhibited significant progress during the last 5 years from 2016 to 2020.

As the sports industry is gaining traction, thanks to sports events organized around the world in accordance with the suggested pandemic protocols, the demand for sports medicines such as body reconstruction, body support & recovery, and accessories, to name a few, is spiralling upward. Furthermore, the rise in investment by manufacturers in research & development (R&D) activities, coupled with the advancement in manufacturing sector, is projected to spearhead the growth of sports medicine suppliers through 2031.

How is the Prevalence in Sports Injuries Propelling Sports Medicine Sales?

Sports medicines have extensive application in the treatment of mild to serious injuries related to sports such as elbow & wrist injuries, ankle & foot injuries, shoulder injuries, and others. With the increase in rates of sports and recreational activities related injuries, manufacturers of sports medicine are anticipated to get hugely benefited in the foreseeable future.

According to a report titled “Injury Statistics” published by the United States Consumer Product Safety Commission, the estimated number of emergency room treated injuries associated with the 15 major team sports increased significantly since 2014 to reach at over 250,000 in North America. These included basketball, football, baseball, softball, and cricket among others.

What are the Key Challenges Faced by Sports Medicine Suppliers?

Despite registering high demand, there are a few factors, restraining growth, which are worth the attention of sports medicine providers. These include factors such as high cost of products, limitations regarding the usage of drugs as a composition of the medicines, side-effects caused by the medicines, and complex lifecycle during the production of medicines or other treatment solutions.

Also, the outbreak of COVID-19 pandemic took a toll on the sports medicine manufacturers due to restrictions imposed on organizing sports or recreational activities, closing down of manufacturing hubs during long lock downs, scarcity of labors & raw materials, and overall financial crisis.

However, with the adoption of ‘new-normal’ and increase in focus by manufacturers in product quality improvement are expected to help in overcoming these few restraining factors for market players.

Country-Wise Analysis

What’s Driving the Sales of Sports Medicine in the United States?

The United States is leading in the world’s largest sports medicine market in North America and set to maintain its lead during the forecast period. Rise in number of sports activities and related injuries are propelling the growth in the U.S.

According to a report titled “Youth Sports Injuries” published by the Science Government, over 38 million U.S. youth participate in organized sports every year, while 54% of children are between ages 6 to 17 years. As stated in the report, the prevalence rate of injuries for youth in basketball, and volleyball are 32.4% and 17.4% respectively in the U.S, while cricket, football, and other ball-related sports account for the rise in rate of sport-related injuries in the U.S. No doubt that manufacturers are eyeing the U.S. in order to increase their sales footprint.

Germany Has the Spotlight in Europe Sports Medicine Market

Germany has been dominating in the world’s second largest market for sports medicine Europe, and expected to sustain its position throughout the forecast period. Backed by the highly advanced manufacturing units and sports industry, Germany is in the spotlight for sports medicine providers.

According to a report titled “Sports Statistics” published by the European Commission (EC) in 2018, in Germany, the number of persons employed in sports is 762.6 in thousands for women and 931.5 in thousands for men. As stated in the report, the rate of attending live sport events at least once in the previous 12 months for population aged 16 years or more is more than 30% in Germany as in 2015. As these rates are set to grow further in the coming years, manufacturers are targeting Germany in order to raise their profit margins.

What’s Fuelling the Sales of Sports Medicine in China?

Asia Pacific is identified as the world’s fastest-growing market for sports medicine. Within the region, China is the hotspot for stakeholders. Increase in participation in various sports and rise in government expenditure in sports industry is bolstering the growth of manufacturers in China.

According to  report titled “China Sports Facility Design and Construction” by the International Trade Administration, China sports industry is highly progressive, while in 2018 there were over 2 million sports venues in China. As per the report, the China National Development and Reform Commission (NDRC) invested US$ 450 Million in public sports projects till 2018. These indicate the new opportunities awaiting for sports medicine suppliers in China.

Will India Remain Lucrative for Sports Medicine Suppliers?

India emerged another lucrative country in Asia Pacific sports medicine industry and predicted to remain in the position throughout the forecast period. Highly advanced manufacturing hubs and rise in sport activities are fuelling the sales of sports medicine in India.

According to a report published by the India Brand Equity Foundation (IBEF) in /January, 2021, India sports industry is highly potential, while total games & sports requisites export stood at US$ 417.43 Million in FY19 and reached US$ 404.13 Million in FY20 in India. As per the report, India has emerged as the leading international sourcing destination for inflatable balls and other sports goods for international brands such as Mitre, Lotto, Umbro and Wilson. This indirectly indicates the high opportunities for sports medicine manufacturers in India.

Category-Wise Insights

Which Product Type is Boosting the Sales of Sports Medicine?

Presently, body reconstruction is the leading segment in the global sports medicine market in terms of product type and expected to propel the growth through 2031. This product type is highly sought-after in the market owing to its various advantages such as highly efficient in restoring body parts after injury, highly efficient treating and recovering various injuries starting from knees to shoulder, and high reliability.

Other key segments in terms of product type are body support and recovery, body monitoring and evaluation, and accessories which are catering to the growth of sports medicine suppliers.

Which Application of Sports Medicine is Dominant?

Currently, knee injuries is the dominating segment in terms of application and likely to exhibit hegemony throughout the forecast period. Owing to the high prevalence rate of this type of injuries in cricket, football, basketball, and other leading sports, this application segment is set to propel the growth further. A recent survey by the Centers of Disease Control and Prevention (CDC) stated that more than 30% of the sports related injuries are knee injury.

Other key segments in terms of application are shoulder injuries, ankle & foot injuries, back & spine injuries, elbow & wrist injuries, and hip injuries.

Competitive Landscape

The global sports medicine market is thriving on the revenue of key players. In order to leverage the new opportunities, key players are diversifying their products further.

For instance,                 

• Johnson & Johnson recently launched its new DePuy Mitek Sports Medicine to target diverse application segments
• Smith & Nephew Plc. launched its new range of Surgical Medicines and Treatment Solutions for Joint Repair a couple of years back

Some of the key players supplying sports medicine are-

• Breg Inc.
• Johnson & Johnson
• Medtronic Plc.
• Wright Medical Group N.V.
• Mueller Sports Medicine, Inc.
• Zimmer Biomet Holdings, Inc.
• CONMED Corporation
• Stryker Corporation
• Smith & Nephew Plc.
• Arthrex, Inc.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

Report Scope

Key Questions Answered in Report

• Which are the top companies manufacturing sports medicine?

  Some of the top companies manufacturing sports medicine are Breg Inc., Johnson & Johnson, CONMED Corporation, and Medtronic Plc.

• Which are some of the lucrative markets for sports medicine?

  The United States, China, Germany, Japan, India, the United Kingdom, Canada, Italy, France, and a few others are lucrative markets for sports medicine, and are expected to dominate throughout the forecast period.

• Which is the most sought-after type of sports medicine?

  Presently, body reconstruction segment is the most lucrative segment in terms of product type, and is expected to remain dominant over the forecast period of 2021 to 2031.

• Which is the key application of sports medicine?

  As per a study by FMI, knee injuries account for maximum sales of sports medicines.

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• Is this research conducted by Future Market Insights?

  Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to our research analyst

• What research methodology is followed by FMI?

  FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

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• What are the sources of secondary research?

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Market Segmentation by Category

Product Type

• Body Reconstruction
• Body Support and Recovery
• Body Monitoring and Evaluation
• Accessories

Application

• Knee Injuries
• Shoulder Injuries
• Ankle & Foot Injuries
• Back & Spine Injuries
• Elbow & Wrist Injuries
• Hip Injuries
• Other Applications

Region

• North America
• Latin America
• Europe
• Middle East and Africa (MEA)
• East Asia
• South Asia
• Oceania