Global Sports Medicine Market to Surpass Valuation of $8.5 Billion by 2028 | 48% organizations Lacks Adequate Resources | Trends, Challenges, and Opportunity
Global sports medicine market was valued at USD 6.13 billion in 2021, and it is expected to reach a value of USD 8.50 billion by 2028, at a CAGR of 5.6% over the forecast period (2022-2028).
Westford, USA, Oct. 11, 2022 (GLOBE NEWSWIRE) — Global sports medicine market is growing rapidly in response to the increasing demand for medical care among athletes and active individuals. A variety of new technologies and treatments are being developed to help improve the health and performance of athletes, and sport medicine specialists are in high demand.
Some of the common injuries in the global sports medicine market include knee injuries, Achilles tendonitis, hamstring strains and shin splints. In addition to treating injuries, sport medicine doctors also work with athletes to help them prevent injuries by developing training and conditioning programs that are specific to their individual needs. The number of physicians specializing in sports medicine has increased by 50% over the past five years, and the number of patients seen by these physicians has increased by 30%.
The data, which was collected from a large national database, showed that the number of office visits to sports medicine specialists rose from just over 2 million in 2007 to nearly 8 million in 2021. That represents a growth rate of nearly 5% per year. While the data does not show why there has been this increase, it is likely due to a combination of factors.
First, the number of people participating in sports and other physical activities has increased dramatically in recent years, and there is a growing awareness of the importance of staying healthy and active. This has led to a greater need for medical care specifically tailored to the needs of athletes and active individuals in the global sports medicine market.
Second, Athletes are under constant pressure to perform at their best, and they often push their bodies to the limit. This can lead to injuries, both acute and chronic. Sport medicine specialists are trained to assess and treat these injuries, as well as to provide advice on how to prevent them from occurring in the first place.
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Top Trends in Global Sports Medicine Market
The first is the increasing focus on preventative care and injury prevention, as opposed to treatment of injuries after they occur. This shift is driven by a number of factors, including changing demographics (an aging population is more likely to experience chronic conditions that can be prevented with lifestyle changes and early intervention), as well as rising health care costs.
SkyQuest notes that there is an increasing trend towards personalized medicine, with treatments and therapies tailored to the individual patient. This is driven by advances in technology and our understanding of genetics, as well as a growing awareness of the importance of mental health in overall wellness.
We have observed that the sports medicine market is becoming increasingly globalized, with a greater focus on cross-border collaboration and the sharing of best practices. This is being driven by the growth of professional and amateur sporting events around the world, as well as the increasing popularity of health and fitness tourism.
According to the report, the use of illicit drugs in sport is on the rise, and this is having a negative impact on the health of athletes. In particular, the use of anabolic steroids is increasing, and this can lead to serious health problems such as liver damage, heart problems and high blood pressure.
The report on global sports medicine market also highlights the need for improved education and awareness about the risks associated with using performance-enhancing drugs. Athletes need to be made aware of the potential side effects of these drugs so that they can make informed decisions about whether or not to use them.
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Key Findings in SkyQuest’s Global Sports Medicine Market
- Global sports medicine market is valued at approximately $6.3 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.6% over the next seven years.
- North American market accounts for the largest share of the global sport medicine market, followed by Europe and Asia Pacific.
- Major drivers of market growth include the increasing popularity of sports and physical activity, the aging population, and the growing awareness of the importance of preventive care.
- Most popular sport medicine products and services include orthopedic devices, physiotherapy, chiropractic care, massage therapy, acupuncture, and nutritional supplements.
- Use of sport medicine is more common among men than women (36% vs. 28%), and among those who are physically active (41% vs. 25%) in the global sports medicine market.
- Key challenges facing the market include reimbursement pressure from insurance companies and government health care systems, regulatory hurdles, and competition from alternative therapies.
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SkyQuest Survey Reveals 48% organizations Lacks Adequate Resources
SkyQuest undertook a survey and published its findings in a report global sports medicine market, which is based on a survey of over 1,000 physicians who treat athletes and active individuals.
The report found that while the majority of respondents (84%) believe that sport medicine is important to the continued success of their organizations, nearly half (48%) say they do not have adequate resources to support their programs. In addition, only 40% of respondents feel very confident in their ability to prevent and manage concussions.
The report on sports medicine market also identified a number of challenges facing sport medicine physicians, including:
Lack of access to best practices and guidelines: Only 37% of respondents said they always have access to best practices and guidelines for treating athletes.
Limited data on athlete health: 69% of respondents said they would like more data on athlete health, including information on injuries, illness and recovery times.
Inadequate funding: 45% of respondents said they do not have adequate funding to support their programs. This is particularly acute for small organizations or those serving underserved populations in the global sports medicine market.
Lack of trained personnel: 56% of respondents said they do not have enough trained personnel to support their programs. This includes athletic trainers, physical therapists and other support staff.
The SkyQuest’s report provides a valuable snapshot of the challenges faced by sport medicine physicians today. By better understanding the pressures these doctors are under.
Top Players in Global Sports Medicine Market
- Arthrex Inc.
- CONMED Corporation,
- DJO Global,
- Johnson & Johnson
- Mueller Sport Medicine
- Orthofix International N.V
- Smith & Nephew Plc.
- Stryker Corporation
- Wright Medical group
- Zimmer Biomet Holdings, Inc
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