High prevalence rate of arthritis is a major driver of Global Foot & Ankle Devices Market for the forecast period, 2022-2026.
According to TechSci Research report, “Global Foot & Ankle Devices Market By Product Type (Joint Implants, Fixation Devices, Soft Tissue Orthopedic Devices, Bracing & Support Devices, Prostheses) By Procedure (Osteotomy, Fracture Repair, Fusion Procedures, Others) By Application (Trauma & Hair line Fractures, Rheumatoid Arthritis & Osteoarthritis, Diabetic Foot Diseases, Ligament Injuries, Others) By End User (Hospitals, Ambulatory Surgery Centers, Orthopedic Clinics, Rehabilitation Centers) By Region, Competition Forecast & Opportunities, 2026”, the global foot & ankle devices market is anticipated for an impressive boost in the upcoming five year, 2022-2026. The market has shown a consistent growth with influential CAGR in past five years until 2019. Bioresorbable implants and devices are a trend to avoid surgery for the removal of devices after the requirement is over is a key factor that is actively driving the market growth in the forecast period. Latest devices with the technological advancements are also a major factor, along with the technologically advanced implants and devices the market is anticipated to grow. Military accidents, sports mishaps, and road accidents are major reasons that leaves the patients with amputated legs or dislocated/ dismembered foot, thereby driving the global foot & ankle devices market growth in the future forecast period.
Moreover, if the government extends the support toward the awareness about the implants and devices and their benefits if used among the population, the market would show better growth. New players can focus on this aspect too. Research and development in the existing devices would enhance their preference by the population. Also, public promotions through sport events like Paralympics may bring the awareness among the population regarding availability of the resources for a better life.
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The global foot & ankle devices market is segmented by product type, procedure, application, end user, competitional landscape, and regional distribution. Based on the procedure the market is further segmented into osteotomy, fracture repair, fusion procedures, and others. Fracture repair holds the largest market share in the historical period, it is also anticipated to hold the largest shares in the upcoming five years owing to the fact that number of road accidents, and accidents during sports activities are rising and that drives the market growth. Osteotomy is also promising market segment owing its growth to the rising prevalence of geriatric population, need for better lifestyle, and requirement to overcome deformed bones surgically.
Based on applications, the market is sub-segmented into trauma & hair line fractures, rheumatoid arthritis & osteoarthritis, diabetic foot diseases, ligament injuries, and others. Ligament injuries in foot and ankles are the most common injuries world-wide. Thus, the injury drives most of the market shares. Ligament injuries are often seen among the athletes, and kids whereas adult population is also affected by the issue. Trauma & hairline fractures are also prevalent injuries among the athletes and requires applications of foot & ankle devices for the limb repairments.
Some of the major competitors in the market are DePuy Synthes Companies, Stryker Corporation, Zimmer Biomet Holdings, Inc, Arthrex Inc, Integra LifeSciences Holdings Corporation, DJO Finance, LLC, CONMED Corporation, Össur HF, Orthofix Medical Inc., Medartis AG, Acumed LLC, Ottobock SE & Co. KGaA, aap Implantate AG, Groupe FH Ortho, Ortho Solutions UK Ltd., among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“Hospitals and ambulatory surgical centers are the largest end users of the foot & ankle devices. With the provisions of better healthcare facility, and technologically advanced implants that are helpful for the patients the market is anticipated toward a steep growth. Hospitals and surgical centers provide the complete care pre, during ad post-surgery procedures making them the largest sector of the end users. With the best healthcare sector, North America is the most promising region for the growth of the global foot & ankle devices market. The region sustains the largest geriatric population, along with the rising cases of unintentional injuries the market is anticipated to grow exponentially. New players may focus on the Asia Pacific region too since the countries like Japan and China have rising geriatric population, road crashes in these developing economies are major market growth factors,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Foot & Ankle Devices Market By Product Type (Joint Implants, Fixation Devices, Soft Tissue Orthopedic Devices, Bracing & Support Devices, Prostheses) By Procedure (Osteotomy, Fracture Repair, Fusion Procedures, Others) By Application (Trauma & Hair line Fractures, Rheumatoid Arthritis & Osteoarthritis, Diabetic Foot Diseases, Ligament Injuries, Others) By End User (Hospitals, Ambulatory Surgery Centers, Orthopedic Clinics, Rehabilitation Centers) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Foot & Ankle Devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Foot & Ankle Devices.
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