Global Sports Medicine Market to Reach $12.86 Billion by 2030, Fueled by a 5.1% CAGR

 Allied Market Research published a report, titled, "Sports Medicine Market by Product (Body Reconstruction & Repair, Body Support & Recovery Products, Body Monitoring and Evaluation Devices and Accessories), Application (Knee Injuries, Shoulder Injuries, Ankle & Foot Injuries, Back & Spine Injuries, Elbow & Wrist Injuries, Hip Injuries, & Other Injuries): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global sports medicine industry generated $8.52 billion in 2020, and is expected to reach $12.86 billion by 2030, witnessing a CAGR of 5.1% from 2021 to 2023.

π‘«π’π’˜π’π’π’π’‚π’… π‘Ίπ’‚π’Žπ’‘π’π’† 𝑹𝒆𝒑𝒐𝒓𝒕- https://www.alliedmarketresearch.com/request-sample/872

Drivers, Restraints, and Opportunities

Rise in incidences of sports injuries, increase rise in participation in fitness and sports-related activities, and shift from proactive to preventive care for sports injuries drive the growth of the global sports medicine market. However, changing regulatory scenarios for medicine hinder the market growth. On the other hand, increase in awareness among individuals regarding fitness & sports, availability of medical instruments, and adoption of extreme sports activities create opportunities in the coming years.

Impact of Covid-19 on Sports Medicine Market-

Owing to cancellation of sports events and competitions to prevent the spread of Covid-19, the demand for sports medicines reduced considerably during the initial phases of the pandemic. The demand is expected to grow steadily post-pandemic.
Manufacturing activities of sports medicine were stopped completely or partially during the lockdown implemented by different governments. Lack of availability of skilled workforce and disrupted supply chain impacted the manufacturing activities.

Get detailed COVID-19 impact analysis on the Sports Medicine Market- https://www.alliedmarketresearch.com/request-for-customization/872?reqfor=covid

Leading Market Players

Arthrex Inc.
CONMED corporation
DJO Global
Johnson & Johnson
Mueller Sport Medicine
Orthofix International N.V
Smith & Nephew Plc.
Stryker Corporation
Wright Medical Group
Zimmer Biomet Holdings Inc.

North America to maintain its dominant share throughout the forecast period

In the intricate tapestry of the global sports medicine market, North America emerges as a stalwart, maintaining its commanding position with a lion's share that exceeded two-fifths of the total market in 2020. Projections for the foreseeable future indicate a continuation of this dominance throughout the forecast period. The bedrock of North America's supremacy is a confluence of factors, including a burgeoning number of sports activities and the strategic presence of key market players within the region.

The ascendancy of North America in the sports medicine arena is a testament to the region's robust infrastructure, advanced healthcare facilities, and a proactive approach towards sports-related healthcare. The rise in the incidence of sports activities, ranging from amateur pursuits to professional leagues, has fueled the demand for cutting-edge sports medicine solutions, further solidifying North America's grip on the market.

However, while North America stands as the linchpin of the current market dynamics, a noteworthy contender is poised for significant growth. The Asia-Pacific region is set to witness the highest Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. This surge is underpinned by a palpable increase in awareness regarding the treatment of sports-related injuries in the region. As awareness permeates through communities, there is a growing recognition of the pivotal role played by sports medicine in ensuring the well-being of athletes and enthusiasts alike.

In essence, the global sports medicine market delineates a narrative of dual forces—North America's unwavering dominance and Asia-Pacific's burgeoning ascent. While North America remains the bedrock of the industry, Asia-Pacific emerges as the epicenter of untapped potential, fueled by a surge in awareness and a commitment to elevating the standard of sports-related healthcare. The interplay of these regional dynamics paints a dynamic landscape for stakeholders, prompting a strategic recalibration to navigate the currents of change and opportunity.

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