Sports Medicine Market Segmentation:

Sports Medicine Market’s Key Suppliers

• Arthrex
• Smith & Nephew PLC
• Medtronic PLC
• Wright Medical Group
• Bioventus LLC
• Stryker Corporation
• Johnson & Johnson: DePuy Mitek, Inc.;
• Mueller Sports Medicine
• RTI Surgical Holdings
• Breg
• Conmed Corporation
• Performance Health International Limited
• Bauerfeind AG
• KARL STORZ Gmbh & Co. kg
• Zimmer Biomet Holdings
• Paragon 28
• Treace Medical Concepts

Sports Medicine Market Share Gain Strategies

Early in 2023, inorganic expansions, such as strategic investments for acquisitions, are one of the primary strategies being considered.

• Reconstructive Orthopedics, located in Moorestown, signed a letter of intent with Virtua Health in April and is on schedule to join the Virtua Medical Group in July 2023.
• The Atlantic Health System acquired the Thompson Healthcare & Sports Medicine locations in Ocean, Monmouth, Burlington, and Atlantic counties in March.
• Following developments took place during the month of January:
  • Zimmer Biomet announced that it has reached an agreement to acquire sports medicine innovator Embody, Inc.
  • UPMC (Pennsylvania, United States) has announced that it will acquire the renowned Sports Surgery Clinic (SSC) in Ireland to expand its orthopedic and sports medical services.
  • Through an acquisition with Ortho Louisville Orthopaedics & Sports Medicine, OrthoCincy Orthopaedics & Sports Medicine expanded its presence in Kentucky.

Innovation is yet another of the market’s main strategies in sports medicine. As a result of this trend, market participants are introducing new products and services to increase their market share. For example, UK Sports Medicine, a provider of healthcare solutions for healthcare professionals and athletes, announced the launch of the Mueller RecoveryCare REVIVE product line at the end of May 2023. The range includes advanced muscle recovery technology, targeted pain relief, accelerated healing, and customized recovery solutions, among other features and benefits.

United Musculoskeletal Partners (UMP) also announced a strategic partnership with All-Star Orthopaedics and OrthoTexas Physicians and Surgeons, PLLC, for February 2023. The partnership is anticipated to contribute to the formation of a prominent orthopedic platform providing world-class orthopedic care in the Dallas-Fort Worth region.

Sports Medicine Market Driver and Opportunity

Sports medicine has remained an important segment for orthopedic companies, as market growth in the early years of the 2020–30 decade has been brisk compared to the final few years of the 2010–20 decade. One of the most common key drivers is the increasing number of sports injuries. According to the National Safety Council, the total number of reported sports injuries in the US reached 3.23 million in 2021, up from 2.70 million in 2020. As per the sports medicine expert, the total number of injuries reported could be higher than 3.5 million in 2022.

Whereas a lax approach to documenting and reporting continues to be a significant concern in the sports medicine industry. Despite warnings that participants and governing bodies must take injuries more seriously, one-third of those who have sustained a sporting injury stated that the aftermath still affects them, according to a study by the Podium charity and YouGov. In addition, the majority of individuals did not know how to reduce their risk of injury, and parents did not know who was accountable for tracking injuries during school athletics.

In addition, the study revealed that institutions are not required to record injuries. Thus, increasing awareness regarding the reporting of sports injuries and their treatment could provide sports medicine participants with a greater opportunity.

More importantly, the growing prominence of sports medicine treatments for non-sports-related injuries is another major driver of the sports medicine market. (The complete sports medicine driver details are available in the Smart Book and Full Report.