North America holds approximately 7% of the Sports Medicine Market worldwide
Sports medicine is an interdisciplinary subspecialty of medicine which deals with the treatment and preventive care of athletes, both amateur and professional. The field of sports medicine has a wide variety of disciplines, from physiotherapy and orthopaedics to public health and psychiatry. It is specifically given to enhance the physical fitness and overall performance of the athletes.
The augmented growth is due to Increase in cases of bone fractures, trauma due to fall, & others and increase in awareness among sportsperson regarding physical fitness. Furthermore, innovation in sports medicine along with the development of performance monitoring devices is likely to accelerate the market over the forecast period. For instance, injury-detecting sensors, early brain trauma detection, microcurrent wound dressing are some of the leading innovations witnessing the significant market share.
Increase in prevalence of sports to raise the number of sports injuries worldwide
It is estimated that around one-third of all injuries incurred in childhood are sports-related, worldwide. Among all, the most common injuries are sprains and strains which harms the mental health of a person. In the U.S., about 30 million children and teens participate in some form of organized sports, and more than 3.5 million injuries each year are experienced by the participants. Additionally, the increasing prevalence of sports is expected to raise the incidences of injuries. Moreover, the growing trend for minimally invasive surgeries, such as arthroscopy is the key driving factor for the growth of the market.
North America dominated the sports medicine market globally and is expected to grow significantly in the coming years
North America has the largest market share of approximately 39% in global sports medicines market and dominated the market in 2016. Rising prevalence of sports injuries and the increasing number of sports medical centres in North America is responsible for the growth of the market.
Meanwhile, Europe accounts for the second largest market, followed by the Asia Pacific. Asia Pacific region is estimated to be the fastest growing segment with the higher CAGR during the forecasted period, due to continuous development in the healthcare sector and increasing awareness about health and sports. India and China are dominating the Sports Medicine market in this region with the highest market share. Additionally, the Japan Sports Medicine market will grow considerably in the coming years.
Latin America and the Middle East & Africa are also expected to generate new opportunities in the forecast period. Brazil dominated the sports medicine market in Latin America and it is expected to grow at a higher in the coming years.