Sports medicine market is projected to witness substantial growth in the ensuing years, primarily driven by the increasing incidences of injuries because of sports activities. Say for instance, tennis elbow is an extremely painful condition associated with playing racket sports involving repetitive motions of the wrist and arm. According to credible statistics, sports and recreational activities account for approximately 21% of all traumatic head injuries among American adolescents and children.
U.S. Sports Medicine Market, By Injury Type, 2018 & 2025 (USD Million)
The rise in the standard of living and surging disposable income has boosted spending on sporting events, which has in turn amplified the occurrence of international multi-sport events such as Olympics, Commonwealth games, Arnold Sports Festival, and several others. Consequently, the increasing lucrativeness of sports as a promising career option and the subsequently rising number of athletes worldwide are further fueling sports medicine market trends.
The rapid upsurge in sports activities and subsequent growth in sports ailments is estimated to drive sports medicine market between 2019-2025. Increasing investment by government authorities and private organizations to develop sports facilities and hubs has further broadened the remuneration scale of sports medicine industry.
Apparently, tennis maestro Rafael Nadal is opening a chain of tennis centers at selected vacation resorts around the globe, in a bid to mix pleasure and sports. The athlete’s tennis centers will include a plethora of world-class facilities including soccer field, 8 all clay tennis courts, gym, paddle court, sports bar, etc. These tennis centers will empower sports enthusiasts to learn and undergo training from some of the best tennis coaches across the globe. Increasing global indulgence in sports, due to the growing accessibility of sports facilities, will amplify sports medicine market share.
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It is anticipated that sports medicine market will accrue substantial proceeds between 2019-2025 from body reconstruction product segment, demonstrating a CAGR of 6.4%. Body reconstruction products such as prosthetics, arthroscopy devices, fracture and ligament repair products, and implants are in high demand across hospitals, clinics, and ambulatory surgical centers.
The body reconstruction products are widely adopted to treat shoulder injuries, knee injuries, foot & ankle injuries, wrist & elbow injuries, hip injuries, and spine & back injuries of sports professionals. The risk for spine injury is the highest in wrestling, football, ice hockey, diving, skiing, rugby, and baseball. Credible reports suggest that two-thirds of sports-related spinal cord injuries are due to diving, making it the most dangerous sport for the health of the spinal cord and brain. Increasing incidences of catastrophic sports injuries will help increase body reconstruction sports medicine market share over the forecast duration.
Body support and recovery product segment is poised to accumulate significant gains in the coming years. The most widely deployed body support and recovery products are electrostimulation, compression clothing, thermal therapy, braces and supports, physiotherapy equipment, etc. Increasing instances of reconstruction procedures will positively impact the adoption of these products, as braces, supports, and physiotherapy products are used before and after reconstruction surgery.
Sports medicine market growth is predicted to gain impetus on account of technological advancements in the field of medicine and burgeoning awareness regarding effective medicines & procedures for sports injuries. The rapid rise in the number of fitness and sports enthusiasts, and the lack of qualified sports instructors liable to provide training will augment the incidence rate of sports injuries, thus propelling sports medicine market size. An instance certifying the rise in sports indulgence is of Australia, where cricket participation has grown over 9% in 2016-17, reaching nearly 1.4 million players, claims Cricket Australia’s recent National Cricket Census. The surging sports initiatives and active participation of people will stimulate Australia sports medicine market trends in the coming years.
The introduction of favorable regulatory policies and government laws for promoting sports and fitness among masses, due to burgeoning instances of diseases related to sedentary lifestyle and unhealthy consumption habits, will increase revenue influx for sports medicine market. Lifestyle diseases like diabetes mellitus, hypertension, obesity, and dyslipidaemia are also the leading cause of cardiovascular diseases. Increasing efforts to avoid serious health consequences, such as CVD, will boost sports activities across the globe, thereby elevating sports medicine industry size.
According to a research report by Global Market Insights, Inc., sports medicine market is anticipated to surpass USD 9 billion by 2025.
Author Name : Nikita Chaurasia