The North America sports medicine market is expected to grow by 2025 due to the increasing incidence of sports-related injuries. The knee injury sub-segment is expected to be the most profitable during the forecast period.
NEW YORK, March 7, 2023 /PRNewswire/ — Research Dive has added a new report to its offering titled, “North America Sports Medicine Market by Product, Body Support and Recovery, Body Monitoring and Evaluation Devices, Application: Opportunity Analysis and Industry Forecast, 2018–2025”.
As per the report, the North America sports medicine market is predicted to grow at a noteworthy CAGR of 6.7% in the 2018-2025 timeframe, thereby gathering $5,382 million by 2025.
Dynamics of the Market
Drivers: An overall increase in the incidence of sports-associated injuries is expected to be the primary growth driver of the North America sports medicine market in the forecast period. Along with this, active government participation to encourage sports activities is predicted to help this market grow in the forecast period.
Opportunities: Product launches and partnerships among leading market players in the industry are anticipated to offer huge growth opportunities to the market in the forecast period. Moreover, an increase in awareness regarding physical fitness is anticipated to augment the growth rate of the market.
Restraints: Unfavorable reimbursement strategies, however, might restrict the growth of the North America sports medicine market.
Segments of the Market
The report has fragmented the North America sports medicine market into different segments based on product and application.
- By product, the body reconstruction & repair products sub-segment is predicted to be the most dominant sub-segment in the North America region. The extensive and widespread use of surgical equipment for the treatment of sports injuries is expected to be the main factor behind the growth of this sub-segment in the forecast period.
- By application, the knee injury sub-segment of the North America sports medicine market is expected to be the most dominant during the forecast period. Since knee injury is one of the most common injuries occurring to a sportsperson in general, there is heavy demand for knee injury medicines, which is expected to be the important factor behind the growth of this sub-segment.
- By country, the North America sports medicine market is studied across U.S., Canada, and Mexico.
Significant Market Players
The significant market players in the North America sports medicine market are
- Smith & Nephew Plc
- Conmed Corporation (Linvatec Corporation)
- Mueller Sports Medicine Inc.
- Stryker Corporation
- Zimmer Biomet holdings. Inc.
- DJO Global Inc.
- Johnson & Johnson (Depuy Synthes)
- Breg Inc.
- Wright Medical Group N.V.
- Arthrex Inc.
These key market players are developing different business strategies like product development, merger and acquisitions, collaborations and partnerships to gain a commanding position in the market.
For instance, in April 2022, Spire Orthopedic Partners, a leading orthopedic and spine care solutions provider, announced an alliance with Sports Medicine North and its affiliate Orthopedic Surgical Center of the North Shore. Sports Medicine North and its affiliate have been one of the leading organizations providing orthopedic care to patients in Massachusetts and this alliance is expected to help all the partners greatly as they will be able to pool their resources and operations in order to provide a wide range of orthopedic care solutions.
The Research Dive report also summarizes many crucial aspects of the North America sports medicine market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
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