According to our new market research study on “Sports Medicine Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, End User and Geography,” the market is expected to grow from an estimated value of US$ 6,094.67 million in 2022 to US$ 9,452.72 million by 2028. It is estimated to grow at a CAGR of 7.6% from 2022 to 2028. The report highlights trends prevailing in the market and drivers and hindrances pertaining to the global sports medicine devices market growth.

Factors such as the increasing incidence of sports injuries and the rising demand for minimally invasive methods boost the growth of the global sports medicine devices market. However, the high cost of devices and dearth of skilled professionals hinder the market growth.

Arthrex Inc. and Smith & Nephew - Notable Players in Sports Medicine Devices Market

Arthrex, Inc. is a privately held medical device company, offering products in the field of arthroplasty and sports medicine. The company offers around 1,000 innovative products and procedures per year, which are used for used for arthroscopic and minimally invasive orthopedic surgical procedures. Company has been developing in the field of arthroplasty and orthobiologics, this has provided the company a major breakthrough in the treatment of arthritis. The company fairly offers 90% of the products that are manufactured in the US and are exported to over 100 countries. The company provides surgical skills training, medical education; physician observation program; and patient education programs.

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Professional athletes, weekend sports players, youngsters, children (sometime adults) contribute to the increase in the incidence of the sports injuries. Most of the sports injuries are orthopedic injuries can be sprain, strain, fractures, ligament breaks, pain, and swelling. These injuries are classified as acute and chronic. According to Stanford Children's Health, ~30 million youth and children in the US play sports annually, and more than 3.5 million sports-related injuries are reported each year. According to the Board of Certification for Athletic Trainers, an estimated 2 million acute ankle injuries occur in the US. In addition, the lower extremity accounts for the majority of sports injuries worldwide. According to the Federation Internationale de Football Association (FIFA), an ankle sprain is the most common injury sustained by football players worldwide. With the surge in the participation in sports (both children and adults) and the consequent increase in sports injuries, the demand for injury management and rehabilitation is increasing across the world.

According to a report published by BMJ Publishing Group Ltd in 2017, nearly 8% of the athletes incurred with one injury in the Rio de Janeiro 2016 Olympic Summer Games. According to the Stanford Children’s Health data published in 2018, in the US, nearly 3.5 million children and teenagers aged 14 years and below suffered from the injuries. It also stated that the highest rates of injuries occurred in the sports that involves contact and collisions, and severe injuries occurred during the individual sports and recreational activities. Additionally, ~62% of sports-related injuries occurred during the practice sessions. Therefore, the rising number of sports injuries propels the demand for sports medicine devices across the globe.

The sports medicine devices market is majorly comprised of top players involving Stryker and Smith & Nephew.

The companies listed above are implementing various strategies such as product launches, acquisitions, mergers, and partnerships, which have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.

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