Foot & Ankle Devices Market to grow at a Significant Rate During the Forecast Period
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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