The global sports medicine market is projected to expand by USD 2.65 billion from 2022 to 2027, with a compound annual growth rate (CAGR) of 6.47%, according to a recent Technavio market research report. North America is anticipated to contribute 48% of this growth.
Technological advancements are a key driver of market expansion in the region, leading to innovative sports medicine products and services. Notably, technologies like orthopedic implants and devices, including joint replacements, are becoming integral to sports medicine, fostering market growth in the forecast period.
Driving the Sports Medicine Market
The sports medicine industry is witnessing growth due to the increasing incidence of sports injuries. As the sports industry expands, athletes and medical professionals are grappling with a surge in injuries.
Factors like intense training, high competition pressure, and the pursuit of victory contribute to this rise. Consequently, the growing number of sports injuries is projected to boost the demand for sports medicine.
Trends in SPACe
A noteworthy trend in the market is the increasing demand for minimally invasive surgeries. Technological advancements, including robotics and computer-assisted techniques, have improved the field of minimally invasive surgeries.
This is exemplified by the use of robotics in knee surgeries, which has enhanced patient outcomes. The prevalence of sports-related injuries is further propelling the demand for minimally invasive procedures.
These trends are poised to fuel the expansion of the global sports medicine space in the forecast period.
The sports medicine market is characterized by fragmentation, and market players are utilizing both organic and inorganic growth strategies to establish their competitive presence.
