Asia-Pacific Sports Medicine Market

Asia-Pacific Sports Medicine Market Size

The sports medicine market size in the Asia-Pacific was worth USD 1.64 billion in 2023. The regional market is anticipated to grow at a CAGR of 9.62% from 2024 to 2032 and be worth USD 3.75 billion by 2032 from USD 1.8 billion in 2024.

Sports Medicine gained a lot of traction in recent years by helping athletes achieve what they couldn’t have done in the past. However, it has massive potential in store for the coming generations with new technologies and procedures.

MARKET DRIVERS

Asia Pacific region is striving to achieve the highest share of the global sports medicine market. The increasing demand for minimally invasive surgeries for the sportsperson and the rising prevalence of exercises in gyms and sports activities to stay healthy are propelling the sports medicine market in the Asia-Pacific region. Ongoing research and development activities in developing innovative regenerative medicine are a significant factor propelling the Asia-Pacific sports medicine market growth. Furthermore, people's interests in sports activities significantly influence the growth rate of the sports medicine market in the Asia-Pacific region. Creating awareness of the availability of different treatment procedures is likely to fuel the market demand in the Asia-Pacific. In addition, the prevalence of reducing the risk of injuries and the rising focus on the cure, recovery, and rehabilitation of athletes enhances the market size. Furthermore, the launch of new therapies with the latest technology is making the market grow higher.

MARKET RESTRAINTS

However, the high cost of medicines is slowly restricting the demand of the market. In addition, fluctuations in the availability of raw products in medicine manufacturing and other vaccines impede the market's growth rate in the Asia Pacific. In addition, stringent government rules and regulations in approving the new products limit the demand for the sports medicine market. Also, the shortage of skilled people in manufacturing advanced devices, especially in underdeveloped countries, is slowly negatively impacting the market's growth rate.

GEOGRAPHICAL ANALYSIS

The Asia Pacific market has a huge potential, considering the population figures and growing incidences of sports-related injuries.

The Indian sports medicine market is predicted to play the leading role in the Asia-Pacific market during the forecast period due to the adoption of the latest technologies in the healthcare industry. In addition, increasing sports-related activities and growing demand for the latest high-quality products elevate the market's growth rate. Also, the Indian sports medicine market is expected to grow due to the rise in the awareness of a healthy lifestyle in the youth population.

The sports medicine market in China is expected to follow the Indian market, accounting for the leading share in the Asia-Pacific market during the forecast period. The growing pharmaceutical industry and the constantly growing economy in recent years are likely to prompt this growth rate in the Chinese sports medicine market.

The Australian sports medicine market is another significant player in the Asia-Pacific market and is predicted to register a considerable growth rate during the forecast period. In 2012, according to a report, more than 3000 athletes were admitted to hospitals with minor and major injuries from almost 13,000 clubs. Government initiative steps in developing the drugs and the emergence of key market players in this country are ascribed to boost the sports medicine market's demand.

KEY MARKET PLAYERS

A few of the notable companies operating in the Asia-Pacific Sports Medicine Market profiled in this report are Smith & Nephew PLC., Arthrex, Inc., Össur hf, Stryker Corporation, Conmed Corporation, Zimmer Biomet Holdings, Inc., Breg, Inc., Mueller Sports Medicine, Inc., Tornier, Inc., Skins International Trading AG, Wright Medical Technology, Inc., DePuy Mitek, Inc., 3M Company Ace Brand, OttoBock Healthcare GmbH and DJO Global, Inc.

MARKET SEGMENTATION

This research report on the Asia-Pacific sports medicine market is segmented and sub-segmented into the following categories.

By Product 

• Reconstruction and Repair
  • Implants              
  • Prosthetics
  • Arthroscopy Devices
  • Fracture and Ligament Repair Products
  • Orthobiologics  
• Support and Recovery
  • Braces and Support
  • Thermal Therapy Products
  • Topical Pain Relief Products
  • Compression Clothing
  • Monitoring Devices
  • Other Body Support and Recovery Products
• Accessories

By Application 

• Head Injuries
• Shoulder Injuries
• Elbow and Wrist Injuries
• Back and Spine Injuries
• Hip and Groin Injuries
• Knee Injuries
• Foot and Ankle Injuries

By Country

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of Asia-Pacific