Market Size of Europe Sports Medicine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Sports Medicine Market Analysis
Over the next five years, the European sports medicine market is expected to grow at a CAGR of 5.2%.
During the COVID-19 pandemic, the sports medicine market encountered a setback due to the deferral and cancellation of a range of sports events, which led to a decline in sports injuries. For instance, in March 2020, the International Olympic Committee postponed the 2020 Tokyo Olympics and Paralympics to 2021. Such incidents adversely impacted market growth. During this time, medical professionals and specialists were instructed to only perform emergency and critical surgical procedures. However, in 2021, the sports medicine industry has shown a sturdy recovery, owing to a surge in demand for sports medicine products and the increasing relaxation of restrictions, which has led to a rise in the number of sports activities globally. This is expected to grow further in the upcoming years. Moreover, the market growth is stabilizing in the current scenario after COVID-19 as worldwide restrictions have eased and various services have been resumed.
The factors driving the growth of the market are the rising incidence of sports injuries, consistent innovation in new products and treatment modalities, and rising demand for minimally invasive surgeries. The incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities. For instance, an article published in June 2021 by Frontiers in Sports and Active Living reported that the 1-year prevalence of a severe sports injury episode was 31%. The most common injury locations for these injuries were the knee (25%), ankle (20%), and hip/groin (15%). Also, the point prevalence of an ongoing injury episode was 19%. The most common locations were the knee (24%), ankle (24%), and foot (24%). As a result of the high rates of sports-related injuries, there is an increased demand for sports medicine, which is driving the growth of the market under consideration.
Increasing technological advancements and multiple new product innovations in sports medicine will propel the European market's growth. For instance, in May 2021, Smith & Nephew launched a series of pump laparoscopes and arthroscopes to manage fluid and 4K imaging technology for sports medicine surgeons. Similarly, in May 2022, Osstem Europe launched a next-generation implant system, the Key Solution (KS) implant, in Europe. The system, which has a unique internal design, enhances the strength of dental implants and provides a convenient platform for surgery or prosthesis loading. Thus, such developments in implants and their rising demand are propelling the European sports medicine market.
Moreover, the rising use of wearable devices such as fitness bands and other sensors aids in monitoring stress loads and avoiding fatigue-induced injuries in athletes, which has supported the growth of the market for sports medicine. Thus, due to the aforesaid reasons, the market is expected to witness significant growth over the forecast period. However, the high cost of implants and devices may slow down the growth of the market over the forecast period.
