There have been an increasing number of sports injuries as schools require more fitness and athletic courses at a young age, according to the July 25 report from Reports and Data, a market research and consulting firm.
Rising budgets for sports programs and increased interest in physical activity and health is also attributed to a rise in valuation.
A lack of trained sports medicine professionals, high costs of implants, unavailability in developing countries and competing local markets are expected to hold back the valuation.
The largest revenue share in sports medicine is expected to come from knee injuries. Knee injuries due to sports have grown rapidly and the rapid pace of development in surgical techniques and treatments will continue to boost the valuation.
North America is expected to account for the largest share of the global valuation.
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