Sports Medicine Devices Market to Grow Due to Rise in Sports Injuries Globally, States TMR Study

• Rise in geriatric population across the globe is generating lucrative prospects in the sports medicine devices market
• Surge in demand for minimally invasive procedures among people around the world is adding in market growth

ALBANY, N.Y., May 9, 2022 /PRNewswire/ -- The global sports medicine devices market is estimated to register growth at a CAGR of 5.6% during the forecast period, from 2021 to 2028, according to a research report by Transparency Market Research (TMR).

Due to rise in awareness among people across the globe on the importance of healthy lifestyle, there has been an increase in participation in different sports activities. This factor is generating prominent growth prospects in the global sports medicine devices market.

Sports Medicine Devices Market: Key Findings

• In the healthcare industry, sports medicine devices are being utilized in order to prevent different exercise and sports-related injuries. Moreover, these devices also help in providing proper treatment solutions for such health conditions. In the recent years, there has been an increase in participation in sports activities of the youth as well as the elderly population. As a result, there has been increase in the number of injuries such as knee, head, & ankle injuries, sprains & strains, ligament ruptures, and muscle cramps. Hence, the demand for different sports medicine devices has been on surge across the globe. This, in turn, is generating sizable business opportunities in the global sports medicine devices market.
• Sports medicine devices can be attached externally, implanted surgically, or utilized in minimally invasive procedures, including arthroscopy, states the TMR study on the global sports medicine devices market. Moreover, these include utilization of different performance monitoring devices together with varied accessories such as tapes, slings, and wraps. Sports injuries around the world has also led to an increase in the number of different arthroscopic procedures. These factors are fueling the sales prospects of sports medicine devices, thus driving the global market. 

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Sports Medicine Devices Market: Growth Boosters

• Increase in the number of sports events around the world is creating sizable business opportunities for sports medicine devices market players
• Rise in preference for minimally invasive surgical procedures is expected to aid in the growth of the global market for sports medicine devices
• Surge in participation of elderly populace in sports activities in fueling the growth of the global market

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Sports Medicine Devices Market: Regional Analysis

• The sports medicine devices market in North America is expected to maintain its dominant position during the forecast period, owing to rising focus of regional players on the development of cost-efficient treatment techniques and increasing number of elderly persons participating in sports activities
• The Asia Pacific sports medicine devices market is projected to expand at significant rate due to increase in awareness about importance of fitness among elderly population, presence of several key players, and rise in prevalence of sports injuries in the region

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Sports Medicine Devices Market: Competition Landscape

• Companies in the global sports medicine devices market are focusing on the launch of advanced prosthetics and implants
• Several enterprises are increasing investments in R&Ds for the development of performance monitoring equipment and joint repair implants

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Sports Medicine Devices Market: Key Players

Some of the key players profiled in the report are:

• Bayer AG
• Allergan plc
• Graybug Vision, Inc.
• F. Hoffmann-La Roche Ltd.
• Novartis AG
• Kubota Pharmaceutical Holdings Co., Ltd.
• Regeneron Pharmaceuticals, Inc.
• Pfizer, Inc.
• Takeda Pharmaceutical Company Limited
• Santen Pharmaceutical Co., Ltd.

Sports Medicine Devices Market Segmentation

Orthopedic Product     

• Artificial Joint Implants
• Arthroscopy Devices
• Fracture Repair Devices
• Prosthesis
• Orthobiologic

Recovery & Support Product         

• Braces
• Performance Monitoring Devices
• Accessories
• Other Recovery Products
• Thermotherapy
• Cryotherapy
• Ultrasound
• Electric Stimulation Devices
• Compression Clothing

Region       

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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