To curb the disease, most of the international, regional, and national level sports activities have been postponed which has led to fewer sports injuries and thereby a decline in the demand for sports medicine. For instance, in April 2020, the Confederation of Africa Football announced to shift their African Champion's League's semi-finals due to the outbreak of COVID-19. This factor restricts the sales by companies in this region. Similarly, other countries in other geographies have also been affected. Therefore, a short-term negative impact can be expected on the market growth due to COVID-19. However, in the coming years, the market studied is expected to boost as the sports activities will upsurge in the 2021 end.

Furthermore, the factors that are fuelling the market include the rising burden of sports injuries, consistent innovation of new products and treatment modalities, and rising demand for minimally invasive surgeries. According to the article published by Sarah Megginson in February 2020, 89% of Australian adults participated in sports every year, with 62% participating at least three times a week. Furthermore, in 2019, a study published by Wu Jianxi, et al, in the International Journal of Sports and Exercise Medicine reported that the increasing popularization of Futsal in China led to the highest number of ankle-related injuries, as Futsal is a whole-body contact sport of technical confrontation. Thus, with the rising number of sports injuries, the demand for sports medicine is also expected to increase across the world.

The launches of novel products related to sports medicine are also expected to propel the market growth over the forecast period. In December 2019, Fuse Meical Inc., launched various products in orthopedics and sports medicines. These includes the Galen Medial, the Kopis Knotless Anchor, Galen XT Suture Anchors, and the Vida Interference Screws. In Septmeber 2020, Smith and Nephew launched it's new product ''HEALICOIL KNOTLESS Suture Anchor'' in the market. This product in combination with REGENESORB Material support in bone formation and healing. Hence, the increasing number of product approvals are also expected to boost the market growth.

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Key Market Trends

Braces are Expected to Observe Good Growth over The Forecast Period

According to the United Nations article, in May 2020, the Olympics and Paralympics were postponed to the year 2021 due to the spread of COVID-19 across the world. But as the activities are resuming now including sports, the risk of sports-related injuries increases, and thereby in the coming years, the need for cast braces is expected to increase.

As per the data provided by Nations Safety Council, about 122.7 per 100,000 population got injured in the basketball games. But this number is expected to decrease as most of the sports activities got postponed in 2020.

As a result, many of the organizations are taking definite measurements related to sports medicines. For instance, in April 2020, Aspetar an orthopedic and sports medicine hospital situated in Qatar launched the "Covid-19 Evidence for Athletes Service'', a platform that will provide information on sports medicines (including braces) to the athletes, their healthcare teams, coaches, etc.

A brace plays an important role in your recovery from a fracture by allowing limited joint mobility, increased muscle activity, and needed continuous support to regain your full range of motion. New product developments by the companies are expected to accelerate the market growth in this segment. For instance, in February 2020, a startup, Cast 21 developed a novel waterproof cast. Moreover, as per 2019 data by the Mount Elizabeth Hospitals, Fractures comprise 20% of the sports-related injuries among all the sports injuries in the United States. Thus, with such novel products, the market is expected to fuel in this segment.

North America is Expected to Contribute With Significant Share in the Sports Medicine Market

North America is expected to dominate the sports medicine market. Initially, the surgeries (including surgeries related to sports injuries) were held which impacted negatively on the demand for sports medicine. According to a research article by Francesca Vannini et al., published in the International Orthopaedics Journal, in August 2020, during the initial spread of the novel coronavirus, elective surgery has been stopped and only emergency procedures were allowed. In response to this outbreak of COVID-19, the Centre for Disease Control and Prevention has issued guidelines on December 2020 to conduct the sports activities safely and prevent the transmission of the virus, including limiting in-person contacts, wearing masks, and using own equipment such as headgears, etc.

Additionally, in 2019, the U.S. Department of Health and Human Services estimated that 8.6 million sports injuries occur each year and one-third of all sports injuries occur in a sports facility, athletic field, or playground. The most common types of sports injuries are sprains, strains, and fractures. Besides, 2 million injuries occur in high school athletes each year, with 500,000 doctor visits and 30,000 hospitalizations, as per the same source.

To foster scientific investigation and R&D practices within the sports medicine discipline, the American Medical Society for Sports Medicine (AMSSM) grants research funding of USD 50,000 per year to its members. A study published by Cary Orthopaedics, United States, in 2019 stated that, each year, 500,000 doctor visits and 30,000 hospitalizations occur due to sports injuries in high school athletes. With growing sports injuries, the incidence rate of visiting hospitals and doctors for the treatment of these injuries is increasing, subsequently boosting the demand for sports medicines. Hence, this is expected to accelerate the market growth in the region.


Competitive Landscape

The sports medicine market is dominated by few major players and is moderately competitive. Major players of this market include Medtronic PLC., CONMED Corporation, Smith & Nephew PLC, Stryker Corporation, among others. Furthermore, with the technological innovations in the implants and the growing price competition, some new companies are also penetrating the market. In June 2020, Smith & Nephew introduced "Bioinductive Implant" in the European market.

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