The technological advancements in arthroscopic technologies worldwide and the increasing number of sports injuries are major factors driving market growth for body reconstruction products.
The body reconstruction products segment held the largest share of the sports medicine market in 2019, while the body support & recovery products segment is projected to register the highest growth during the forecast period.
On the basis of product, the sports medicine market is segmented into body reconstruction products (fracture & ligament repair products, arthroscopy devices, implants, prosthetics, orthobiologics), body support & recovery products (braces & support, physiotherapy equipment, and compression clothing), and accessories.
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The knee injuries segment commanded the largest share of the market in 2019. However, the hip & groin injuries market is projected to register the highest CAGR owing to the increasing participation of high school and college athletes in sports.
The rising popularity of sports and physical activity, increasing awareness regarding the prevention & treatment of sports injuries, and growing investments in sports medicine are driving the North American sports medicine market.
Hospitals, Ambulatory Surgery centers and Physiotherapy Centers and Clinics. The hospitals segment accounted for the largest share of the sports medicine market. The large share of this segment can be attributed to factors like Complex diagnostic and therapeutic procedures being carried out in hospitals.
The high growth in this region can be attributed to the growth of the sports industry and overall participation in sports. Sporting events such as the 2008 Beijing Olympics, 2018 Winter Olympics in Korea, and the upcoming 2020 Summer Olympics in Japan have increased the level of interest in sports in Asia.
The major players operating in the sports medicine market include Arthrex, Inc (US), Smith & Nephew plc (UK), and Stryker Corporation (US). Other players involved in this market include Breg Inc. (US), DJO Global, Inc. (US), Mueller Sports, Inc. (US), Wright Medical Group N.V. (US), Medtronic (Ireland), RTI Surgical (US), Performance Health International Limited (US), KARL STORZ (Germany), and Bauerfeind AG (US), Össur (Iceland), MedShape (US), Cramer Products (US), Biotek ( India), RôG Sports Medicine (US).