SPORTS MEDICINE DEVICES MARKET ANALYSIS

The Global Sports Medicine Devices Market size is projected to reach US$ 11.27 Bn by 2030 from an estimated US$ 6.64 Bn in 2023, exhibiting a CAGR of 7.8%.

Sports medicine devices help athletes and active people treat and prevent injuries that result from sports or exercise. There are several types of products available that serve different purposes. Brace and support devices are extremely common, helping protect weakened or injured muscles, joints, and bones. Examples include knee braces, ankle braces, and wrist supports. These devices promote healing and prevent reinjury. Another important category is therapeutic devices. These include laser therapy machines, magnetic therapy devices, and electrical stimulation devices that help reduce pain and swelling. They work by applying controlled doses of energy to encourage cellular repair.

Global Sports Medicine Devices Market - Regional Insights

• North America is the largest market for sports medicine devices with a share of 41% in 2022, and this can be attributed to the rising incidence of osteoarthritis and joint disorders such as knee injuries in the region. As per the Arthritis Foundation, over 30 million adults in the U.S. suffer from osteoarthritis, making it the most common form of arthritis. The number is expected to rise further owing to the increasing aging population and growing rates of obesity. Also, sports injuries to the knee joints are widespread due to active participation in basketball, football, baseball, and other contact sports in North America.
• Asia Pacific is the second largest market for sports medicine devices. Sports medicine device products have seen increased uptake over the past 5 years in various Asia Pacific countries driven primarily by rising sports participation and awareness about recovery modalities post-intense workouts or injuries.
• Europe is the third-largest market for sports medicine devices, with a share of 19.9% in 2022. The growth of this market is being driven primarily due to the rising incidences of orthopedic injuries among the highly active population in Europe. Sports, such as soccer, rugby, and volleyball, which involve extensive body contact have contributed to the increasing demand for devices like joint reconstruction implants. According to a study by ESSKA, over 3.5 million ACL and meniscus procedures are performed annually in Europe.

Figure 1. Global Sports Medicine Devices Market Share (%), By Region, 2023

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Analyst’s Views

The global sports medicine devices market is poised to grow substantially in the coming years. The rising popularity of sports and physical fitness activities among both young and elderly population is a key growth driver. Furthermore, increasing awareness about the benefits of exercise and sports is also fueling the demand for sports medicine devices globally. With rising health consciousness, many countries are focusing on preventive healthcare, which provides opportunities for companies in this market.

The Orthopedic Products sub segment dealing with biologic substances and technologies used to promote the regeneration of injured or damaged tissues is expected to witness the fastest growth due to increasing success of stem cell therapies. Among regions, North America dominates currently, however Asia Pacific is likely to overtake other regions owing to rising medical tourism and growing healthcare spending in China and India. High cost of surgeries may have a negative impact on the market especially in developing countries.

Stringent regulatory approval process also poses restraints on new market entrants. Companies need to invest significantly in R&D to innovate new products and technologies continuously in order to remain competitive. Those who are able to launch minimally invasive surgical devices and solutions, which lead to quicker recovery time for athletes, will have an edge over others. With an aging population prone to sports injuries, the joint reconstruction segment will witness additional growth momentum in the future.

Global Sports Medicine Devices Market - Drivers

• Rising prevalence of sports injuries: Sports injuries have been on the rise globally due to increasing participation in sports and recreational activities. Strenuous training regimes along with competitive pressures have increased the risk of accidents and injuries among both amateur and professional athletes. According to data from the WHO, around 30 million people suffer from sports related injuries requiring medical assistance annually worldwide. Football/soccer accounts for the largest number of injuries followed by other contact sports like rugby, American football, etc. Running and other individual sports have also witnessed higher injury rates as more people take up active lifestyles. Injuries to knees, shoulders, lower back, and ankles are most common, requiring treatments like physiotherapy, joint replacements, or reconstructive surgeries.
• Growing demand for minimally invasive surgeries: The growing demand for minimally invasive surgeries is a major factor fueling the expansion of the global sports medicine devices market. Minimally invasive procedures offer several benefits over traditional open surgeries such as less pain, smaller incisions, lower risk of surgical site infections, lesser scarring, shorter hospital stay, and faster recovery. As patients are increasingly preferring these procedures to get back to their normal activities quickly, the demand for sports medicine devices is surging. Minimally invasive techniques allow surgeons to perform complex joint reconstruction and repair surgeries through small incisions as opposed to conventional open approaches. This has boosted the uptake of small joints reconstruction, fracture repair, and soft tissue repair devices among orthopedic surgeons.
• Technological advancements in sports medicine devices: Technological advancements are revolutionizing the field of sports medicine and driving significant growth of the global sports medicine devices market. Various advanced devices and implants are helping athletes perform better and recover faster from injuries. New materials for implants allow faster healing times and better integration with the body. Wearable sensors and monitors allow the real-time tracking of vitals, biomechanics, potential for injuries, etc. For example, sensors in shoes or on body can analyze running patterns and identify postures that put undue stress on joints. This predictive analysis helps coaches and medical staff develop personalized training regimens and injury prevention strategies.

Global Sports Medicine Devices Market - Opportunities

• Emerging economies present lucrative growth prospects: Emerging economies present lucrative growth prospects for the global sports medicine devices market. With a rising middle class population and growing awareness about health and fitness, countries like India, China, Brazil, and others are witnessing significant participation in sports and recreational physical activities. This has increased the risk of sports injuries which was earlier confined to developed nations. Emerging economies present lucrative growth prospects for the global sports medicine devices market. With a rising middle class population and growing awareness about health and fitness countries like India, China, Brazil and others are witnessing significant participation in sports and recreational physical activities. This has increased the risk of sports injuries which was earlier confined to developed nations. As per International Sports Federation (ISF) reports, countries like India saw a 40% increase in the number of people participating in recreational sports from 2018 to 2020. Similarly, National Bureau of Statistics China reported a 30% increase from 2015 to 2020 in the number of people taking part in indoor and outdoor sports on a regular basis. This surge in participation rates has led to growing demand for advanced sports medicine devices for quick recovery and injury prevention. Some of the devices seeing high demand are arthroscopy equipment, fracture management systems, implants, prosthetics, and others.
• Adoption of biomaterials in the production of medical devices: The use of biomaterials in production of medical devices holds huge potential for driving innovation and growth in the global sports medicine devices market. Biomaterials are already being extensively researched and tested for applications in ligament and tendon repairs, cartilage regeneration, and meniscus replacement therapies. Their biocompatible and bioabsorbable properties allow for minimal rejection and enhanced healing of injuries. Research shows that biomaterials such as collagen-based scaffolds, plastics, and bioceramics have helped facilitate new cell-based therapies and tissue engineering solutions for sports medicine. Their adoption in areas, such as musculoskeletal soft tissue repairs, can help address the high incidence of sport injuries involving knees, shoulders, ankles, and other joints.
• Untapped opportunities in professional and amateur sports sectors: The professional and amateur sports sectors presents untapped growth opportunities for the global sports medicine devices market. With increasing popularity of various professional and amateur sports globally such as football, cricket, basketball, and others, the number of athletes both at professional and grassroots levels has ballooned. This has led to a rise in the incidence of various sports-related injuries. According to data from the WHO, sports injuries accounts for nearly 30% of all recreational injuries worldwide with knee, lower leg, and ankle being the most common sites of injury among athletes. At the same time, there is greater emphasis on improving athletic performance and aiding quicker recovery from injuries. This has fueled the demand for advanced products in areas such as orthopedic bracing and support, physiotherapy, and rehabilitation equipment. Devices supporting areas, such as injury prevention, muscle/tendon/ligament repair, and reconstruction, are gaining widespread adoption. The unmet needs as well as insufficient medical infrastructure and skilled professionals in emerging nations present lucrative prospects. Manufacturers have responded with innovative smart devices, 3D printed implants and customized braces/supports. Technologies, such as robotics and virtual reality, are also being integrated into recovery programs.

Global Sports Medicine Devices Market - Trends

• Usage of robotics and AI in rehabilitation: The usage of robotics and artificial intelligence in rehabilitation is having a significant influence on the global sports medicine devices market. Robotics and AI assisted technologies are enabling new rehabilitation methods that are more effective at recovering from injuries and returning athletes to play. These advanced methods are being widely adopted by hospital physical therapy departments and standalone sports medicine clinics. Robotic devices like exoskeletons and gait trainers are allowing physical therapists to push patients harder and cover a wider range of motion during recovery sessions. The robots can accurately support uneven weight distribution, closely monitor biomechanics and adjust in real-time to prevent re-injury. Additionally, AI technologies like computer vision and motion tracking are providing therapists data-driven insights into patients' progress. Systems like Motek Forced Motion can precisely measure improvements in range of movement, strength and control over time. Some systems even develop personalized digital therapy programs tailored to the individual's recovery needs.
• Advent of 3D printing technology: The rise of 3D printing technology is greatly impacting the global sports medicine devices market. 3D printing is allowing for the customization of devices to meet the specific needs of individual athletes. Rather than a "one size fits all" approach, 3D printing enables devices to be tailored for each person's physiology, injury, and activity level. This level of customization improves healing outcomes and speeds up recovery times. Sports medicine professionals are increasingly making use of 3D scans and body mapping to digitally design customized implants, braces, and internal and external fixtures for injured athletes. For example, 3D printed vertebrae implants perfectly match a person's spinal curves and dimensions to provide optimal support and stability. Athletes who would otherwise be sidelined for months can resume training and competition much sooner with implants tailored precisely for their bodies using 3D printing. Personalized devices facilitate a closer fit and greater comfort, improving compliance with prescribed use.

Global Sports Medicine Devices Market - Restraints

• High cost: Sports medicine devices and treatments can be expensive, limiting access for some individuals, especially in regions with limited healthcare resources
• Lack of standardization: Global sports medicine devices market lacks uniform standards and regulations, leading to inconsistencies in product quality and efficacy
• High Competition In Market: The sports medicine devices market is highly competitive, with many established and emerging players vying for market share, which can lead to pricing pressures and reduced profit margins
• Reimbursement issues: In some regions, reimbursement policies may not adequately cover sports medicine procedures and devices, which can limit their adoption
• Limited awareness: There is a lack of awareness and education about the benefits of sports medicine devices and treatments, which can hinder the market growth

Figure 2. Global Sports Medicine Devices Market Share (%), By Product Type, 2023

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Recent Developments

New product launches/investment

• On May 23, 2023, Stryker, a medical device company, announced the launch of its Ortho Q Guidance system, enabling advanced surgical planning and guidance for hip and knee procedures, easily controlled by the surgeon from the sterile field. The system combines new optical tracking options via a redesigned, state-of-the-art camera with sophisticated algorithms of the newly launched Ortho Guidance software to deliver additional surgical planning and guidance capabilities. When used with Ortho Q, the Ortho Guidance software for Express Knee, Precision Knee, and Versatile Hip serves as a planning and intraoperative guidance system that enhances procedural speed and efficiency through a smart, streamlined workflow.
• On January 26, 2023, Orthofix US LLC., a medical device company, announced the full commercial launch of the Mariner Deformity Pedicle Screw System. The Mariner Deformity Pedicle Screw System, provides effective and potent surgical intervention, and the full commercial launch incorporates sophisticated reduction and correction instrumentation, specialist implant technologies, and sturdy osteotomy tools.
• In On June 29, 2023, Acuitive Technologies, Inc., a medical device company, announced the first surgical application of its Citrelock ACL Tendon Fixation Device. The novel ACL device offers surgeons a distinct design with a tendon-friendly spiral thread and Citregen, a next-generation resorbable technology with unique molecular and mechanical features for orthopedic surgical applications. This tendon fixation device will be used in sports medicine.

Acquisition and partnerships

• On March 28, 2023, Mueller Sports Medicine, a provider of sports medicine, announced the third year partnership with the Professional Football Athletic Trainers Society Foundation, Inc., in cooperation with the Korey Stringer Institute and additional guidance from National Athletic Trainers Association to further provide awareness of exertional heat stroke among athletes, school boards, parents, boosters, athletic directors, coaches, teachers, and local first responders.

Top Companies in the Global Sports Medicine Devices Market

• 3M Company
• Arthrex, Inc.
• ArthroCare Corporation
• Biomet, Inc.
• BREG, Inc.
• Conmed Corporation
• DePuy Mitek, Inc.
• DJO Global, Inc.
• Mueller Sports Medicine, Inc.
• Ossur hf
• OttoBock Healthcare GmbH