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What is the Projected Growth Rate of the Sports Medicine Market from 2024 to 2033?

There has been a substantial expansion in the size of the sports medicine devices market in the recent past. The market is set to rise from $7.44 billion in 2023 to $8.06 billion in 2024, boasting a compound annual growth rate (CAGR) of 8.3%. Multiple factors have contributed to the growth during the historic period such as military activities and conflicts, an increase in commercial aviation, geopolitical shifts around the globe, regulatory norms and adherence to them, and changes in fuel costs.

The market size of sports medicine devices is poised for robust expansion in the coming years, and is forecasted to reach $11 billion by 2028, representing a compound annual growth rate (CAGR) of 8.1%. Factors contributing to this expected growth during the forecast period include increased military spending, commercial aviation expansion, technological advances in refueling systems, worldwide geopolitical shifts, and the transition to sustainable aviation fuels. Noteworthy trends during this forecast period encompass automation in refueling systems, utilization of unmanned aerial vehicles (UAVs), implementation of autonomous technologies, sophisticated fueling tactics, and elevated safety precautions.

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What Are the Key Drivers of Growth in the sports medicine Market?

The escalation of sports-related injuries is projected to spur the expansion of the sports medicine device market in the future. The term sports injury encompasses a variety of injuries frequently experienced during athletic activities. Sports medicine devices are not only used for injury treatment but also for performance training, physiotherapy, and preventive measures against injuries. Therefore, the surge in sports injuries is set to propel the growth of the sports medicine device market. For example, a report published by the National Safety Council (NSC), an organization in the US dedicated to promoting health and safety, revealed that injuries from sports and recreational activities rose by 20% in 2021. Incidents that occurred during recreational and leisure activities necessitated emergency care for 3.2 million people the same year. Men are injured roughly twice as frequently as women (2,158,887 females vs. 4,148,404 males) and 91% of those injured were attended to and discharged from emergency departments in 2021. Thus, the increase in sports injuries substantiates the progression of the sports medicine device market.

What Are the Notable Segments in the Sports Medicine Market?

1) By Product: Orthopedic Devices, Body Reconstruction And Repair, Body Support And Recovery, Body Monitoring And Evaluation, Accessories

2) By Orthopedic Product: Artificial Joint Implants, Arthroscopy Devices, Fracture Repair Devices, Prosthesis, Orthobiologic

3) By Recovery And Support Product: Braces, Performance Monitoring Devices, Accessories, Other Recovery Products

4) By Application: Knee Injury, Shoulder Injury, Ankle-Foot Injury, Back-Spine Injury, Hand-Wrist Injury, Hip-Groin Injury, Arm-Elbow Injury

5) By End Users: Ambulatory Surgical Centers, Hospitals, Orthopedic Clinics, Other End Users

Which Emerging Trends Are Altering the Sports Medicine Market?

The main trend that is gaining traction in the sports medicine device market is technological advancement. New technologies are being developed by prominent companies in this market. To illustrate, Smith & Nephew, a medical technology firm based in the UK, unveiled the JOURNEY II Medial Dished (MD) in September 2021. The distinctive feature of this product is its capacity to deliver regular kinematics irrespective of the state or lack of the posterior cruciate ligament (PCL). The entire JOURNEY II series has been crafted to imitate the usual shapes, attitudes, and movement of a healthy knee.

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Which Regions Are Most Influential in Expanding the Sports Medicine Market?

North America was the largest region in the sports medicine device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the sports medicine devices market report during the forecast period. The regions covered in the sports medicine devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Sports Medicine Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the sports medicine market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Sports Medicine Market Include

1. Sports Medicine Market Executive Summary

2. Sports Medicine Market Segments

3. Sports Medicine Market Size And Template Market Growth Rate

4. Key Sports Medicine Market Trends

5. Major Sports Medicine Market Drivers

……

25. Key Mergers And Acquisitions In The Sports Medicine Market

26. Top Sports Medicine Companies

27. Sports Medicine Market Opportunities And Strategies

28. Sports Medicine Market, Conclusions And Recommendations

29. Appendix

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