New York, USA, Feb. 17, 2023 (GLOBE NEWSWIRE) — Sports Medicine Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Sports Medicine Market Information By Product, Application, Procedure, End-User, and Region – Forecast till 2030” the market is anticipated to acquire the value of USD 9,655.6 Million while thriving at a CAGR of 7.40% during the assessment tenure from 2022-2030.
It is projected that the rising number of sports injuries, the growth of medical associations, and ongoing technology advancements will drive the sports medicine market. Sports with the highest injury rates tend to be football and baseball. Another factor that is anticipated to increase the market over the evaluation period is the absence of carelessness while playing the sport. However, over the forecast period, the growth of the sports medicine market is projected to be constrained by unfavourable reimbursement policies and a lack of knowledge.
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Market Dynamics
Drivers
Growing Number of Sports Injuries to Benefit Market Development. The market for sports medications may be driven mostly by rising sports participation and increased fitness awareness. During the evaluation period, the market is projected to grow because to the increasing frequency of ligament tears and fractures. During the assessment period, it is anticipated that the sector will grow globally due to the rising demand for injury treatment and rehabilitation.
US non-profit healthcare system Banner Health said in December 2020 that it would construct a $54 million valley sports medical complex.
Opportunities
A significant opportunity for the market expansion of sports medications is presented by the expanding use of sports medicine in emerging economies.
Due to their vast patient populations, developing nations like China and India are projected to present a sizable opportunity for market expansion. Due to rising disposable income and expanding kid and adult participation in sports, the market for sports medicine is anticipated to expand.
The National Academy of Sports Medicine (NASM), a leader in fitness certifications and specialties with a global reputation, announced the launch of a revised weight reduction specialisation course for certified trainers in December 2020.
Browse In-depth Market Research Report (130 Pages) on Sports Medicine: https://www.marketresearchfuture.com/reports/sports-medicine-market-3503
Restraints
The sports medicine market’s growth may be hampered by a lack of expertise. The lack of knowledge is one of the main factors affecting the worldwide market for sports. Professionals with expertise and knowledge are in more demand.
One of the main impediments to the growth of the sports medicine market is the dearth of physicians who specialise in sports medicine.
A significant obstacle to market expansion is also the absence of a sports culture. Lack of a sporting culture, slow growth of medical associations, and a dearth of cutting-edge healthcare facilities are a few of the key issues that would seriously hamper market advancement over the evaluation period.
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Market segmentation for sports medicine
The sports medicine market is divided into support & recovery products, accessories & consumables, joint reconstructive & repair products, and other products based on product.
The global market for sports medicine is divided into categories based on application, including those for treating knee, spine, shoulder, hip, and other injuries.
The tendinosis, tendon to bone, and cartilage repair subsegments of the global market for sports medicine are based on procedure. The worldwide sports medicine market is divided into ambulatory care, trauma centres, hospitals & emergency care, and other end-users.
Regional Analysis
During the Forecast Period, North America Will Acquire a Significant Market Share
During the period of the analysis, the regional market is anticipated to increase significantly due to the rising popularity of sports and the growing awareness of the need to treat sports injuries. The size of the sports medicine market in North America is anticipated to increase due to the increasing investments there. The availability of cutting-edge medical treatments to treat a variety of orthopaedic problems is anticipated to influence local commerce in the next years.
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