The global Foot and Ankle Devices Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global Foot and Ankle Devices Market size is expected to value at USD 3.4 billion by 2025. The market is subject to witness a substantial growth due to the rise in elderly population and increase in the occurrence of target diseases like osteoporosis.
Key Players:
- DePuy Synthes Companies
- Stryker
- Zimmer Biomet
- Smith & Nephew
- Wright Medical Group N.V.
- Advanced Orthopaedic Solutions
- Integra LifeSciences Corporation
- Acumed
- Bioretec Ltd.
- Össur
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Growth Drivers:
Globally, the foot & ankle devices market is predicted to grow at a CAGR of 10.1% in forecast period, providing numerous opportunities for market players to invest for research and development in the market. Osteoporosis is primary cause of reduced bone density, thus inducing fractures even with minor form of injury or trauma. As many as nine million people have been reported that are suffering from the osteoporosis disease on annual basis across the globe. Such factors are causing osteoporotic fracture every three seconds. Prime victims of the disease are menopausal women. As recent reports suggest, one out of three women above the age of fifty experiences an osteoporotic fracture. These factors are responsible for the growth of foot & ankle devices industry, thus creating lucrative opportunities for market players, in recent years. Additionally, rise in the number of road accidents and sports injuries are further propelling demand of the foot and ankle devices. Growing number of cases of sports injuries are attributed to rise in the professional sporting activities all across the globe. Commonly occurring sports injury is an ankle sprain, which is an injury to the ligaments in the ankle.
Ankle replacement surgery is one of the fastest growing segment in the foot and ankle devices market with substantial revenue generation in the last couple of years. Hip and knee replacement surgeries has also witnessed substantial growth, mainly in the Unites States market, in recent years. Major causes for these surgeries are rising in occurrence of ankle and arthritic joint injuries. Sports such as football and baseball enable a major risk of soft tissue injuries.
Application Outlook:
- Hammertoe
- Trauma
- Osteoarthritis
- Rheumatoid Arthritis
- Neurological Disorders
- Bunions
- Osteoporosis
Product Outlook:
- Bracing and Support
- Joint Implants
- Soft Tissue Orthopedic Devices
- Orthopedic Fixation
- Prosthetics
Regional Outlook:
The foot and ankle devices industry is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in adoption of latest technologies and existence of well-established healthcare infrastructure. Asia-Pacific region is predicted to hold major market share in the foot and ankle devices market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with growing elderly population and significant investment by leading industry players considering potential opportunities in the region.
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