SAN FRANCISCO, Feb. 18, 2020 /PRNewswire/ -- The global sports medicine market size is projected to reach USD 15.2 billion by 2027, expanding at a CAGR of 8.2%, according to a new report by Grand View Research, Inc. The increasing demand for sports medicine, owing to the shift towards a healthy lifestyle adopted by the young population, and rising incidences of injuries among athletes and fitness enthusiasts are some of the major factors driving the market.
Key suggestions from the report:
- The global market is anticipated to reach USD 15.2 billion by 2027, owing to rise in the number of injuries
- The accessories segment is anticipated to witness the fastest CAGR of 8.8% over the forecast period as the demand for wound care products is increasing
- The knee application segment is anticipated to exhibit the fastest CAGR of 8.9%, owing to the increase in the number of cruciate ligament injuries
- North America dominates the sports medicine market, owing to the high healthcare expenditure.
Read 127 page research report with ToC on "Sports Medicine Market Size, Share & Trends Analysis Report By Application (Knees, Shoulders, Ankle & Foot), By Product Type (Body Reconstruction & Repair, Body Support & Recovery), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/sports-medicine-industry
In 2019, the body reconstruction and repair devices segment dominated the market with a revenue share of 39.2%. An increase in the number of ligament injuries and growing demand for minimally invasive repair surgeries due to short recovery time are some of the key factors driving demand for these devices. On the other hand, the accessories segment is anticipated to witness the fastest growth over the forecast period, due to increasing demand for effective wound healing among athletes.
The knee application segment is currently dominating the market. An increase in the number of cruciate ligament injuries and a growing demand for knee arthroscopy are the major factors driving the growth of this segment. On the other hand, the segment is anticipated to witness the fastest growth of 8.9% over the forecast period, owing to continuous increase in the number of knee replacement surgeries and the introduction of innovative and personalized total knee replacement (TKR) system by key players.
Grand View Research has segmented the global sports medicine market based on product type, application, and region:
- Sports Medicine Product Type Outlook (Revenue, USD Million, 2016 - 2027)
- Body Reconstruction & Repair
- Surgical Equipment
- Soft Tissue Repair
- Bone Reconstruction Devices
- Body Support & Recovery
- Braces and Other Support Devices
- Compression Clothing
- Hot & Cold Therapy
- Body Monitoring & Evaluation
- Other Monitoring Devices
- Sports Medicine Application Outlook (Revenue, USD Million, 2016 - 2027)
- Ankle & Foot
- Back & Spine
- Elbow & Wrist
- Sports Medicine Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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