Global Sports Medicine Devices Market Set for Significant Growth, Poised to Reach $11 Billion by 2028 Driven by Technological Advances and Injury Prevention Trends - Long-term Forecast to 2033 - ResearchAndMarkets.com

The "Sports Medicine Devices Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.

The global market for sports medicine devices has observed a robust expansion in recent years, with projections indicating a continued trajectory of growth. The sector is forecasted to burgeon from $7.44 billion in 2023 to an estimable $8.06 billion in 2024. This reflects a notable compound annual growth rate (CAGR) of 8.3%. As we look toward the future, the market is set to reach new heights, expected to achieve $11 billion by 2028, growing at a steady CAGR of 8.1%.

Fueled by Rising Sports Injuries

An uptick in sports-related injuries serves as a primary catalyst for market expansion. Reports indicate a marked increase in injuries requiring emergency intervention, with males being predominantly affected. A staggering 91% of those injured were treated and subsequently released from emergency departments, underscoring the essential role that sports medicine devices play in treatment and recovery.

Fitness and Wellness Industry Impact

The burgeoning fitness and wellness sector substantially contributes to the increasing demand for sports medicine devices. This industry, which extends to various products and services, depends on these medical devices for facilitation, precaution, and rehabilitation, further driving market growth.

Technological Innovations Spearheading Advances

Innovation remains at the forefront of the sports medicine device market with leading companies at the helm of technological breakthroughs. The introduction of devices that aim to emulate the natural kinematics of the knee demonstrates the industry's commitment to progress and enhanced patient outcomes.

Strategic Partnerships Elevating Industry Standards

Major players in the field are strategically partnering to leverage mutual strengths and cultivate success. These collaborations extend opportunities for marketing and increase access to cutting-edge medical technology, encompassing various orthopedic and surgical applications.

Acquisitions Setting the Stage for Expansion

The strategic acquisition of enterprises specializing in sports medicine devices is another key development, enabling significant players to broaden their influence and establish a more dominant presence in the market, particularly within fast-growing sub-sectors such as the US foot and ankle market.

Regional Insights into Market Dynamics

North America is distinguished as the preeminent region within the sports medicine device market as of 2023. However, the Asia-Pacific region is slated as the fastest-growing market throughout the projected period. This growth is reflective of the diverse applications of sports medicine devices that stretch across orthopedic clinics, hospitals, and surgical centers worldwide.

Extensive Market Segmentation

The sports medicine devices market is categorized into various segments, including orthopedic devices, reconstruction and repair tools, support and recovery equipment, monitoring and evaluation devices, as well as an assortment of related accessories. These products serve the vital need to address, repair, and support injuries in different body regions, emphasizing the market's comprehensive reach.

The sports medicine device industry's evolution continues to be informed by market trends, opportunities, technological advancements, strategic partnerships, and regional growth dynamics. As the market progresses, the focus on patient outcomes and technological innovation is expected to steer the industry towards meeting the challenging demands of sports medicine and rehabilitative therapeutics.

A selection of companies mentioned in this report includes, but is not limited to:

• Arthrex Inc.
• Conmed Corporation
• DJO LLC
• Johnson & Johnson Services Inc.
• Stryker Corp.
• Smith & Nephew plc
• Breg Inc.
• Mueller Sports Inc.
• Wright Medical Group NV
• Medtronic Inc.
• RTI Surgical Holdings Inc.
• Performance Health International Limited
• Karl Storz SE & Co. KG
• Bauerfeind AG
• MedShape Inc.
• Cramer Products Inc.
• BioTek Instruments Inc.
• RôG Sports Medicine
• Zimmer Biomet Holdings Inc.
• ArthroCare Corp.
• Mitek Sports Medicine
• DonJoy Orthopedics
• Össur public limited company
• Otto Bock HealthCare GmbH
• Bledsoe Brace Systems
• Acumed LLC
• BSN medical GmbH

For more information about this report visit https://www.researchandmarkets.com/r/qvsnwt

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