Asia-Pacific Sports Medicine Market Size
| 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 Market Trends
Implants Segment is Expected to Grow at a Faster Pace in Market During the Forecast Period
Implants play an essential role in recovery from a fracture by allowing limited joint mobility, increased muscle activity, and needed continuous support to regain full range of motion. Various types of synthetic implants are available for tendon repair, ligament reconstruction, meniscus repair, and cartilage injuries.
The implant segment is expected to attain a significant growth rate in the forecast period owing to the factors such as the rising incidence of various sports-related injuries and the increasing demand for effective sports implants. For instance, an article published in BSM Journal in August 2021 mentioned that in Japan, 9% of athletes occurred at least one injury, and 4% had at least one disease in 2021. The report also mentioned that the incidence of injury was highest in boxing (27%), BMX racing (27%), BMX freestyle (22%), skateboarding (21%), karate (19%), and handball (18%) in 2021. Moreover, as per the same source, ankle injuries such as stumbling are the most common injuries among athletes in the Asia-Pacific region.
Furthermore, the rising initiative by various sports-related organizations that offer sports-related implants is also expected to boost the market's growth over the forecast period. For instance, in March 2022, Healthium Medtech inaugurated "Sport of Life" initiatives with Abhinav Bindra Foundation Trust (ABFT) in India. ABFT aims to support injured players in need with the cost of medical treatment, doctors, surgeries, and rehabilitation facilities to recover from sports injuries and carry on with their careers. Healthium will provide its arthroscopy implants required for the surgeries free of cost. Thus, the rising incidence of various injuries linked to sports and the increasing activities of market players in the region is creating lucrative opportunities for the target segment growth throughout the forecast period.
Australia is Expected to Hold Significant Share in the Market Over the Forecast Period.
Australia is expected to hold a significant market share over the forecast period. Factors such as the rising prevalence of various sports-related injuries and the increasing presence of different market players are expected to contribute to the market growth in this country.
For instance, in the article published by the Australian Institute of Health and Welfare in October 2022, almost 60,000 people over 15 years are hospitalized yearly due to sports injuries. The same source also stated that more than half of the injuries were fractures, with fractured arms and shoulders being the most frequent injury in Australia every year. Likewise, another article published in NCBI in February 2022 mentioned that in Australian football, females had a higher proportion of hand/finger injuries (34.3%), neck injuries (6.6%), and patella dislocations (2.9%). Males had a higher proportion of shoulder injuries (11.5%), skin lacerations (8.0%), and thorax/abdominal/pelvic injuries (5.7%) in 2021. The same source also mentioned that a higher proportion of men injured in Australian football sports required admission to hospital (5%) and surgery. Thus, the rising incidence of various sports-related injuries in Australia is also expected to boost the demand for sports medicine, thereby increasing the market's growth over the forecast period.
Asia-Pacific Sports Medicine Industry Overview
The Asia-Pacific Sports Medicine Market is moderately competitive. Some of the players in the market include Medtronic PLC., CONMED Corporation, Smith & Nephew PLC, Stryker Corporation, and Zimmer Biomet Holdings Inc. With the technological innovations in implants and the growing price competition, some new companies are also penetrating the market.
Asia-Pacific Sports Medicine Market Leaders
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Stryker Corporation
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Zimmer Biomet Holdings Inc
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CONMED Corporation
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Arthrex Inc
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Medtronic PLC
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Sports Medicine Market News
- In October 2022, Vissco launched a one-stop online platform for sports health and well-being in India, Vissco Next. The company's website offers product categories ranging from orthopedic braces like back and knee support to pain recovery solutions like heating mats, cooling gels, and more.
- In June 2022, Lonza Japan expanded UC-II knee claims following positive clinical trial findings. Japan's Consumer Affairs Agency approved the product to support knee movements in climbing stairs, squatting, and other activities.
Asia-Pacific Sports Medicine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Rising Incidence of Sports Injuries
- 4.2.2 Consistent Innovation of New Products and Treatment Modalities
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4.3 Market Restraints
- 4.3.1 High Cost of Implants and Devices
- 4.3.2 Dearth of Proper Sports Ecosystem
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Implants
- 5.1.2 Arthroscopy Devices
- 5.1.3 Prosthetic
- 5.1.4 Orthobiologics
- 5.1.5 Braces
- 5.1.6 Bandages and Tapes
- 5.1.7 Other Products
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5.2 By Application
- 5.2.1 Knee Injuries
- 5.2.2 Shoulder Injuries
- 5.2.3 Ankle and Foot Injuries
- 5.2.4 Back and Spine Injuries
- 5.2.5 Elbow and Wrist Injuries
- 5.2.6 Other Applications
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5.3 Geography
- 5.3.1 China
- 5.3.2 Japan
- 5.3.3 India
- 5.3.4 Australia
- 5.3.5 South Korea
- 5.3.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Stryker Corporation
- 6.1.2 Zimmer Biomet Holdings Inc.
- 6.1.3 CONMED Corporation
- 6.1.4 Arthrex Inc.
- 6.1.5 Medtronic PLC
- 6.1.6 Johnson & Johnson
- 6.1.7 Wright Medical Group
- 6.1.8 Smith & Nephew
- 6.1.9 DJO Global Inc
- 6.1.10 3M company
- 6.1.11 Vissco
- 6.1.12 DJO LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAsia-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 Research 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.
What years does this Asia-Pacific Sports Medicine Market cover?
The report covers the Asia-Pacific Sports Medicine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Sports Medicine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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