Sports Medicine Market

The sports medicine market is projected to reach USD 9.45 Billion by 2029 from USD 6.79 Billion in 2024, growing at a CAGR of 6.8% during the forecast period. Growth in the sports medicine market is mainly due to an increased funding from governments, advanced technologies such as wearable technology and electronic muscle stimulation, growing awareness to maintain a healthy lifestyle and rise in prevalence of injuries, comprising strains,sprains and fractures. Sports medicine market growth resulted in a higher need for sports medicine products such as implants, prosthetics, orthobiologics and physiotherapy equipements and the upward trend in the professional athletes.

The challenges faced by sports medicine impact its use and efficiency.High cost of the implants is one of the limitations that generates financial strain on patients and affect market dynamics. Moreover, tailoring treatments to fulfill the unique needs of athletes, such as quicker recovery and performance improvement needs expertise and sufficient resources.

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The sports medicine market is featured by moderate level of competition, with prominent players having a significant presence in the market. Competition has intensified due to the raised expenditure on healthcare for athletes, the establishment of sports centers, and the increase in the number of sports events and conferences. Innovative technologies developed by R&D of key players is another factor. Here are some of the key players in the sports medicine market: Smith & Nephew PLC (UK), Depuy Synthes (US), Stryker Corporation (US), Breg, Inc. (US), Conmed Corporation (US), Zimmer Biomet Holdings (US), Enovis (US), RTI Surgical (US), Performance Health Limited (US), Bauerfeind AG (Germany), Arthrex, Inc. (US)Karl Storz GMBH & CO. KG (Germany), Mueller Sports Medicine, Inc. (US), Ossur (Iceland), Ottobock SE & Co. KGAA (Germamny), Biotek (Chetan Meditek Pvt. Ltd.), and Anika Therapeutics Inc (US).

Stryker (US):  Stryker is a prominent medical technology firm, which provides advanced products to enhance the outcome for patients and healthcare. The company has an influence on over 150 million patient and invests USD 1.4 billion on research and development. The orthopedic segment of Stryker produces sports medicine products, surgical devices and non invasive surgicals across number of specialities. Their product portfolio comprises fracture and ligament repair products,implants, arthroscopy, orthobiologics and surgicals. Recently, in March 2024, Stryker has launched Gamma 4 Hip Fracture Nailing system which offers benefit in femur and hip fractures. The company is also making significant inorganic progress such as partnerships and acquisition to mark their presence in the market. In March 2024, Stryker acquired SERF SAS (Europe) to grow in orthopedic market and establish their presence in Europe.

Arthrex (US): Arthrex is a leading global provider of medical devices and orthopedic medical education. It has been a leader in the arthroscopy area and creates over 1,000 novel treatments and devices annually. Arthrex is experiencing remarkable growth and international demand for their goods. Arthrex provides a wide range of products such as fracture and ligament repair products,implants, arthroscopy, orthobiologics and surgicals. Such products cover the area of shoulder, knee, elbow , hand and wrist, foot and ankle and hip. In January 2024, Arthrex introduced TheNanoexpression.com to cover different therapies associated with nano arthroscopy.

DePuy Synthes (US): Depuy Synthes is making significant advancements in orthopaedic surgery. With the latest developments in digital surgery, medical equipment, and orthopaedic equipment, the company offers surgeons a range of solutions to match the diversity of their patients. Depuy Synthes produces minimally invasive products and non-surgical equipments that are applicable in the therapy of joint related injuries associated with sports. The products offered by Depuy Synthes includes Fracture and ligament repair products, implants, arthroscopy, orthobiologics, prosthetics and surgicals. In April 2024, DePuy Synthes launched TriAltis Spine System to prove therapies in complex spine conditions. Further, to expand themselves in orthopedics segment , the firm acquired CrossRoads Extremity Systems in February 2022.

Related Reports:

Sports Medicine Market by Product [Repair (Fracture & Ligament), Reconstruction, Implant, Prosthetic, Arthroscopy , Physiotherapy , Orthobiologics, Brace), Application (Knee, Shoulder, Ankle, Hip, Spine), End-User - Global Forecast to 2029

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