Latin America Sports Medicine Market Size & Outlook
Latin America sports medicine market, 2018-2030 (US$M)
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Latin America sports medicine market highlights
- The Latin America sports medicine market generated a revenue of USD 486.7 million in 2023.
- The market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, body reconstruction & repair was the largest revenue generating product in 2023.
- Accessories is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 486.7 million |
| Market revenue in 2030 | USD 881.4 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | Body reconstruction & repair |
| Fastest growing segment | Accessories |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Body Reconstruction & Repair, Body Support & Recovery, Body Monitoring & Evaluation, Accessories |
| Key market players worldwide | Smith & Nephew PLC, Stryker Corp, Zimmer Biomet Holdings Inc, Arthrex, Enovis Corp, DePuy Synthes, Johnson & Johnson, Conmed Corp, Mueller Industries Inc, Orthofix Medical Inc, Performance Health, Karl Storz |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.9% of the global sports medicine market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,561.2 million by 2030.
Body reconstruction & repair was the largest segment with a revenue share of 38.11% in 2023. Horizon Databook has segmented the Latin America sports medicine market based on body reconstruction & repair, body support & recovery, body monitoring & evaluation, accessories covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America is anticipated to grow significantly over the forecast period, owing to the presence of developing economies such as Brazil & Mexico and the establishment of medical device companies in the region, as it has allowed foreign manufacturers to carry out sustainable commercial operations in the region.
For instance, medical device companies such as BSN Medical and Stryker Corporation have established their base in the region for easy distribution of their products.
Furthermore, availability of advanced treatment options at cheaper costs attracts medical tourists from European and North American countries, boosting the demand for sports medicine in the country.
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Sports Medicine Market Scope
Sports Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America sports medicine market size, by country, 2018-2030 (US$M)
Latin America Sports Medicine Market Outlook Share, 2023 & 2030 (US$M)
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