Market Size of Asia-Pacific Sports Medicine Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 8.50 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Sports Medicine Market Analysis
The Asia-Pacific Sports Medicine Market is expected to register a CAGR of 8.5% during the forecast period.
COVID-19 had a significant impact on the growth of the market. This was primarily due to the cancellation of sports activities during the outbreak to prevent the spread of COVID-19 infections. For instance, in April 2022, The World Masters Games in Kansai was postponed due to continued concerns about COVID-19. The event in Japan was supposed to take place from May 13 to May 29. However, the event was delayed since COVID-19 was on the rise. Additionally, in May 2022, the Asian Games 2022, scheduled to be held in September in China, was postponed until 2023 due to the COVID-19 pandemic. Thus, such cancellation of sports events significantly impacted the demand for sports medicine, which affected the target market growth during the pandemic period. In the post-pandemic period, the resumption of all sports activities in Asia-Pacific will increase the demand for sports medicine, in turn, it is expected to fuel the target market's growth throughout the projected period.
The major factors driving the market's growth are the rising incidence of sports injuries and the rising demand for minimally invasive surgeries. For instance, the NCBI article published in October 2021 mentioned that nearly 18.03% of injuries were recorded among elite athletes in South Korea, of which 15.57% suffered at least one injury. The report also mentioned that 56.74% of male athletes and 43.26% of female athletes sustained sports injuries. Similarly, the ticle published in BMJ in December 2022 mentioned that in China, 2.4% of the athletes and non-athletes incurred at least one damage,, and 3.1% had at least one disease in 2022. The injury incidence was highest in athletes (14.4%), team officials (8.8%), staff (2.1%), and volunteers (2.1%). Therefore, Asian countries are experiencing an increase in the frequency of various sports-related injuries boosting the target market growth over the forecast period.
Additionally, the launch various sports medicine market forecastvide effective and early treatment for sports injuries in Asia-Pacif is also expected to boost the market's growth over the forecast period. For instance, in February 2022, Wockhardt Hospitals, India, launched a sports medicine diagnosis, rehabilitation, and surgery facility aswith a dedicated center. The facility is spread across 21,5000 square feet and provides specialty care in almost all specialties. Thus, the increasing incidenmarket castous sports-related injuries and the expansion of numerous centers for sorts injuries,of are expected to contribute to the market growth over the forecast permarketser, factors such as the high cost of implants and devices and the lack of a suitable sports eco-system are expected to impede the market's growth over the forecast period.
Asia-Pacific Sports Medicine Industry Segmentation
As per the scope of the report, sports medicine is a branch of medicine that deals with physical fitness and the treatment and prevention of injuries related to sports and exercise. The Asia-Pacific Sports Medicine market is Segmented by Product (Implants, Arthroscopy Devices, Prosthetics, Orthobiologics, Braces, Bandages and Tapes, and Other Products), Application (Knee Injuries, Shoulder Injuries, Ankle and Foot Injuries, Back and Spine Injuries, Elbow and Wrist Injuries, and Other Applications), and Geography (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific). The report offers the value (in USD million) for the above segments.
By Product | |
Implants | |
Arthroscopy Devices | |
Prosthetic | |
Orthobiologics | |
Braces | |
Bandages and Tapes | |
Other Products |
By Application | |
Knee Injuries | |
Shoulder Injuries | |
Ankle and Foot Injuries | |
Back and Spine Injuries | |
Elbow and Wrist Injuries | |
Other Applications |
Geography | |
China | |
Japan | |
India | |
Australia | |
South Korea | |
Rest of Asia-Pacific |
Asia-Pacific Sports Medicine Market Size Summary
The Asia-Pacific Sports Medicine Market is poised for significant growth, driven by the increasing incidence of sports injuries and the rising demand for minimally invasive surgeries. The market experienced a temporary setback due to the COVID-19 pandemic, which led to the cancellation of major sports events and a subsequent decline in demand for sports medicine. However, the resumption of sports activities in the region is expected to boost market growth. The introduction of specialized sports medicine facilities, such as those launched by Wockhardt Hospitals in India, is further anticipated to enhance the market's expansion. Despite challenges like high costs of implants and a lack of a robust sports ecosystem, the market is expected to thrive due to the growing need for effective treatment and rehabilitation solutions.
The implant segment within the sports medicine market is expected to witness substantial growth, fueled by the increasing prevalence of sports-related injuries and the demand for advanced sports implants. Initiatives by organizations like Healthium Medtech and the Abhinav Bindra Foundation Trust in India, which provide support for injured athletes, are likely to contribute to market expansion. Australia is projected to hold a significant market share, driven by a high incidence of sports injuries and the presence of various market players. The competitive landscape of the Asia-Pacific Sports Medicine Market includes key players such as Medtronic PLC, CONMED Corporation, and Stryker Corporation, with new entrants leveraging technological innovations to capture market share.
Asia-Pacific Sports Medicine Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Incidence of Sports Injuries
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1.2.2 Consistent Innovation of New Products and Treatment Modalities
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1.3 Market Restraints
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1.3.1 High Cost of Implants and Devices
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1.3.2 Dearth of Proper Sports Ecosystem
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Implants
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2.1.2 Arthroscopy Devices
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2.1.3 Prosthetic
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2.1.4 Orthobiologics
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2.1.5 Braces
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2.1.6 Bandages and Tapes
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2.1.7 Other Products
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2.2 By Application
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2.2.1 Knee Injuries
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2.2.2 Shoulder Injuries
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2.2.3 Ankle and Foot Injuries
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2.2.4 Back and Spine Injuries
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2.2.5 Elbow and Wrist Injuries
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 China
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2.3.2 Japan
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2.3.3 India
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2.3.4 Australia
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2.3.5 South Korea
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Sports Medicine Market Size FAQs
What is the current Asia-Pacific Sports Medicine Market size?
The Asia-Pacific Sports Medicine Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Sports Medicine Market?
Stryker Corporation, Zimmer Biomet Holdings Inc, CONMED Corporation, Arthrex Inc and Medtronic PLC are the major companies operating in the Asia-Pacific Sports Medicine Market.