Sports Medicine Market Scenario
Sports medicine, also referred to as sports and exercise medicine, is a branch of healthcare that deals with the prevention, diagnosis, and treatment of injuries associated with sports, games, and exercise. These injuries include joint dislocation, strain, soft tissue damage, musculoskeletal injuries, sprain, and fractures. Sports medicine plays an important role in the field of sports. It covers all professionals concerned with improving and enhancing the performance and health of physically active individuals. It is a broad area of study, covering from physiotherapy and orthopedics, to public health and psychiatry.
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The global sports medicine market is mainly driven by factors such as the rising incidences of sports injuries, growing number of the sports medicine association, technological advancements, and increasing awareness about the health benefits of sports medicine. Additionally, increasing participation in various sports is expected to propel the market over the coming years.
As indicated by The Johns Hopkins University, U.S., around 30 million children and teens participate in sports activities, and more than 3.5 million injuries are experienced by the sports players. The most common injuries experienced by the sports players are sprains and strains. Moreover, as per the research study, it has been estimated that incidences of injuries will increase at a considerable rate over the forecast period, which is expected to drive the growth of the market.
In addition, the continuous launch of new products and treatment modalities, as well as the rising demand for minimally invasive (MI) treatments, such as arthroscopy, are expected to further propel the market during the forecast period. On the other hand, the high cost of products can be a restraining factor to the market growth. Nevertheless, the changing regulatory scenario and the untapped market for sports medicine are projected to open potential growth opportunities for the global market over the coming years.
North America held the largest share of the market, trailed by Europe, in 2016. The growth of this region can be ascribed to the rising number of osteoporotic fractures in the U.S. and increasing adoption of latest technologies such as computer-assisted and robotic-assisted surgeries in the medical settings, providing accuracy and precision in the injuries. For example, the National Osteoporosis Foundation (NOF) estimated that approximately 1.3 million osteoporotic fractures occur every year in the U.S.
The market in the APAC region is also expected to witness a substantial growth rate during the forecast period, owing to the increasing initiatives by the private and government bodies, in order to create awareness about the rise in medical tourism and healthy living. For instance, the Ministry of Health (MOH), Singapore and Health Promotion Board (HPB) have organized initiatives such as STEP (Strength Training Exercise Programme), Lose to Win, and OPTIMAL (Osteoporosis Patient Targeted and Integrated Management for Active Living Programme) to create awareness about healthy lifestyle in the society so as to reduce the risk of developing bone and cartilage disorders.
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