May 24, 2022 11:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, May 24, 2022 (GLOBE NEWSWIRE) -- The global sports medicine market was around US$ 6.5 Bn in 2021 and is projected to exhibit a CAGR of close to 5.3% over the forecast period. Sports medicine is a rapidly expanding healthcare specialty because the assistance provided by the sports medicine specialists is not limited to just athletes, but to a broader population. The application of scientific knowledge and practice for regulation of health and athletic performance is what integrates itself into the sports medicine realm. In the promotion of health and the scientific assessment, analysis, and understanding of sports performance, sports medicine straddles the line between science and practice.
Technological breakthroughs such as 3-D printed implants are a key driver of the market. 3-D printing is paving the way for a faster recovery time and the reconstruction of fractured bones. Arms, hands, legs, and even ears can be created with 3-D printing. Casts to help broken bones heal faster, footwear, shin guards, and helmets to help avoid concussions are among the safety devices manufactured using 3-D technology. As a result, technological advancements are expected to significantly boost the sports medicine market over the forecast period.
Growth and development of the sports medicine market will be shaped by high demand for minimally invasive surgeries and an increasing number of sports medical centres. Rising usage of computer-assisted robotic operations to decrease hospital stay and recuperation time will complement growth in the market.
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“Growing awareness regarding fitness, and technological advancements in regenerative medicine are anticipated to propel the demand in the sports medicine hemisphere over the forecast period,” says an FMI analyst.
To gain a competitive edge in the market, manufacturers are relying on a variety of strategic initiatives such as innovative product launches, mergers and acquisitions, accreditations, strategic alliances, and partnerships.
Top Key Players Covered-Arthrex, Inc., DePuy Synthes (J&J), Smith & Nephew Plc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Olympus Movement Performance, Karl Storz, Tornier N.V., Wright Medical Group N.V., DJO Global, Ossur HF, Medtronic Plc, CONMED Corporation, Mueller Sports Medicine, Inc., Cayenne Medical, NuOrtho Surgical Inc., Ottobock,, RTI Surgical, NuVasive®, Inc.
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Because the sports medicine market is consolidated, bigger firms control a large portion of the revenue. Pricing, quality, and product diversification are all key determinants in market development. Some recent developments include:
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the sports medicine market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the product (body reconstruction products [arthroscopy devices {arthroscope and visualization system, resection system, fluid management system, implants, RF system, drills and fixation system}, meniscal repair device, prosthetic devices, orthobiologics], body support and recovery products [braces and supports, compression clothing], accessories), and by application (knee injuries, shoulder injuries, ankle & foot injuries, back & spine injuries, elbow & wrist injuries, hip injuries, and others), across seven key regions of the world.
3.1. Key Trends Impacting the Market
4.1. Key Promotional Strategies, By Key Manufacturers
5.1.1. Current COVID19 Statistics and Probable Future Impact
6.2. Forecast Factors - Relevance & Impact
6.2.1. Adoption rate of Sports Medicines
7. Global Sports Medicine Market Volume (Units) Analysis 2017–2021 and Forecast, 2022–2032
7.1. Historical Market Volume (Units) Analysis, 2017–2021
7.2. Current and Future Market Volume (Units) Projections, 2022–2032
8. Global Sports Medicine Market - Pricing Analysis
8.1. Regional Pricing Analysis By Product Type
8.3. Global Average Pricing Analysis Benchmark
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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