Yahoo Finance Sports Medicine Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Application, End User, and Geography
The global sports medicine devices market is likely to be valued at US$ 6,094. 67 million in 2022 and is projected to reach to a value of US$ 9,452. 72 million by 2028; it is expected to grow at a CAGR of 7.
New York, July 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sports Medicine Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Application, End User, and Geography" - https://www.reportlinker.com/p06289939/?utm_source=GNW
6% from 2022 to 2028.
The growth of the sports medicine devices market is mainly attributed to factors such as the increasing incidence of sports injuries and rising demand for minimally invasive methods. However, the high cost of devices and dearth of skilled professionals hinder the market growth.
Sports medicine is a branch of health care that increases athletic performance and improves physical fitness.Sports medicine devices promote early recovery from injuries and prevent the risk of future injuries.
Various injuries caused by sports and general exercise are head, knee, and ankle injuries; muscle spasms; sprains and strains; and torn ligaments.These devices can be surgically implanted, externally attached, or used for minimally invasive procedures such as arthroscopy.
The devices also comprise performance monitoring devices and various accessories, such as bandages, bands, and slings.Orthopedic devices prevent and treat musculoskeletal problems, such as sprains and strains, fracture and ligament repairs, repetitive motion injuries, and upper and lower back pain associated with sports.
In athletes with a physical deformity or any physiological dysfunction, prostheses replace, correct, or support a body part. Amputees of upper and lower extremities use sports prostheses to participate in sports and other physical activities. They help replicate the functions of the fingers, arms, elbows, and other body parts.
The COVID-19 outbreak severely affected medical systems in various regions across the world.The global impacts of the outbreak are being felt across several markets.
The COVID-19 pandemic had significantly impacted the sports medicine device market.Several sports activities were suspended or postponed at international, regional, and national levels to control the virus spread in the first quarter of 2020.
For example, in March 2020, the International Olympic Committee postponed the Tokyo 2020 Olympic and Paralympic Games to 2021.Therefore, fewer sports injuries were recorded during the initial period of the pandemic, which dropped the demand for sports medicine devices.
According to a 2021 update from the National Safety Council (NSC) in America, the Consumer Product Safety Commission (CPSC) reported that emergency room visits for consumer product-related injuries had decreased by 24% in the first seven months COVID-19 pandemic. The most significant decrease in injuries was in sports-related injuries related to athletics. However, as sports activities, resume the risk of sports-related injuries have increased again. Therefore, the COVID-19 pandemic had a short-term negative impact on the sports medicine devices market growth. However, the market is expected to grow in the coming years as sports activities started to increase from the end of 2021.
Based on product, the sports medicine devices market is segmented into body reconstruction and repair, body support and recovery, body monitoring and evaluation, and accessories.In 2022, the body reconstruction and repair segment accounted for the largest market share.
Body reconstruction is a specialized treatment used for the damaged or injured skin and tissues.The reconstruction and repair helps sport person to get back on the field as quickly as possible.
The body reconstruction and repair enables are majorly done by the mode of surgeries that require products, such as autografts, allograft struts, mesh cages, cement augmentation, implants, and expandable cages.Therefore, owing to the advantages of the body reconstruction and repair for the sports injuries, the global sports medicine devices market is likely to grow with a significant growth rate in the coming years.
Also, the body monitoring and evaluation segment is likely to register the highest CAGR in the market during the forecast period.
In terms of application, the global sports medicine devices market is segmented into elbow and wrist injury, shoulder injury, knee injury, ankle and foot injury, spine injury, and others.The knee injury segment held the largest share of the market in 2022.
However, the shoulder injury segment is anticipated to register the highest CAGR in the market during the forecast period.
The global sports medicine devices market, based on end user, is segmented into hospitals and clinics, physiotherapy centers, sport centers, and ambulatory surgery centers.The hospitals and clinics segment held the largest share of the market in 2022.
However, the physiotherapy centers segment is anticipated to register the highest CAGR of 8.0% in the market during the forecast period.
The World Health Organization (WHO), Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), International Council of Sports Science and Physical Education (ICSSPE), International Federation of Sports Medicine (FIMS), World Federation of Athletic Training & Therapy (WFATT), Institute of Sport and Exercise Medicine (ISEM), Department of Sports and Recreation South Africa (SRSA), and United States Olympic & Paralympic Committee (USOPC) are among the major primary and secondary sources referred to while preparing the report on the global sports medicine devices market.
Read the full report: https://www.reportlinker.com/p06289939/?utm_source=GNW
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