Sports Medicine Market Size, Share & Trends Analysis Report By Product Type (Body Reconstruction & Repair, Body Support & Recovery, Accessories), By Application (Knee, Shoulder, Ankle & Foot), By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the sports medicine market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for sports medicine market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of sports medicine market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Sports Medicine Market Categorization:

The sports medicine market was categorized into four segments, namely product type (Body Reconstruction & Repair, Body Support & Recovery, Body Monitoring & Evaluation, Accessories), application (Knees, Shoulders, Ankle & Foot, Back & Spine, Elbow & Wrist, Hips), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The sports medicine market was segmented into product type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The sports medicine market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Sports medicine market companies & financials:

The sports medicine market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Smith+Nephew - Smith+Nephew has been listed on the London Stock Exchange since 1937. The company offers orthopedic reconstruction, sports medicine, trauma, and advanced wound management products. It distributes its products in more than 100 countries. More than five Smith+Nephew Academies provide medical education in Europe, the U.S., and Asia Pacific. In addition, the company has three franchises: advanced wound management, orthopedics, and sports medicine & ENT.

• Stryker - Stryker offers products & services in medicine, surgery, orthopedics, sports medicine, and neurotechnology. Its offerings include micro & spine implant systems, emergency equipment, trauma products, endoscopic products, powered surgical instruments, patient handling equipment, orthobiologics, joint replacement solutions, and surgical navigation systems. The company has a presence in more than 100 countries.

• Zimmer Biomet - Zimmer was renamed Zimmer Biomet post its merger with Biomet in 2015. Zimmer Biomet manufactures and sells musculoskeletal products. Its business units include orthopedics, biologics, sports medicine, bone healing, craniomaxillofacial products, and spinal & dental implants. It is involved in developing and designing medical devices used in reconstructive procedures.

• Arthrex, Inc. - Arthrex, Inc. is a privately held medical device manufacturing firm focusing on product development, especially in orthopedics. It was established as Arthroscopy Excision Instruments, Inc., manufacturing arthroscopy surgical instruments in Germany. In 1991, the company moved its headquarters to Florida and was renamed Arthrex Manufacturing, Inc. in 2002. It distributes products in more than 100 countries. Over the past 20 years, the company has expanded its portfolio to more than 8,500 products, focusing on hip, knee, & shoulder orthopedic applications, especially in minimally invasive procedures.

• Enovis (DJO, LLC) - Enovis (DJO, LLC) signed a merger with ReAble Therapeutics Inc. in 2007. Post this merger, it transitioned to a private enterprise. Their product portfolio includes pain therapy devices, rehabilitation devices, implants for hips, knees & shoulders, bracing instruments, cold & hot therapy systems, vascular systems, and growth stimulation products. It has a strong distribution channel, and popular brands include Aircast, Ormed, ProCare, and DonJoy.

• DePuy Synthes (Johnson & Johnson) - The company was acquired by Johnson & Johnson in 2012 and has since been functioning as an individual subsidiary. DePuy Synthes was established and originally involved in the production of fiber splints. It offers a wide range of orthopedic and neurological products. Its various divisions cater to spinal medicine, trauma cases, joint reconstruction, sports medicine, power tools, neurology, craniomaxillofacial reconstruction, and biomaterials.

• CONMED Corporation - CONMED Corporation specializes in developing and selling patient monitoring and surgical products. The company has a wide range of product portfolio that includes reconstructive systems, arthroscopes, endoscopic ligator kits, bronchoscopy devices, trocars, stone removal balloons, scissors, graspers, thermal tissue fusion systems, suction irrigation devices, smoke evacuation pencils, electrosurgical generators, saws, surgical visualization equipment, and endo mechanical instrumentation. ConMed caters to orthopedic, general surgery, gynecology, gastroenterology, pulmonology, anesthesiology, and sports medicine markets.

• Mueller Sports Medicine, Inc. - Mueller Sports Medicine, Inc. manufactures and sells braces & supports, taping supplies, gums, and tapes. The company offers therapy (cold and hot therapy), analgesics, foot care products, grip enhancers, mouth guards, tapes & wraps, and sports accessories. The company has a presence in over 100 countries. Moreover, it has a subsidiary office and 3PL warehouses in Yokohama, Japan.

• Breg, Inc. - Breg, Inc. manufactures and markets sports medicine products. The company provides hip, knee, spine, elbow, ankle, and foot braces, walkers, canes crutches, and home therapy kits. The company sells its products in 36 countries with more than 100 distributors. In addition, the company delivers a 360°customer experience unmatched in the industry. The company supports healthcare practitioners through its comprehensive partnership.

• Performance Health - Performance Health manufactures and markets health products. The company focuses on rehabilitation and sports medicine markets. The company sells its products in more than 100 countries. It has brands such as Cramer, THERABAND, Rolyan, Athletic Edge, Sammons Preston, and Armedica. In addition, the company has 500 global partners for product distribution.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Sports Medicine Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 - 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Sports Medicine Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.