The production and distribution of medical devices designed for treating foot and ankle fractures, as well as orthopedic disorders like diabetic foot, hammertoes, arthritis, and bunions. The market's growth is primarily driven by the increasing incidence of diabetes and related foot conditions. Orthopedic implants, braces, supports, and specialized footwear are examples of devices used in this field. The market is propelled by factors such as the growing prevalence of foot and ankle disorders, the demand for minimally invasive procedures, technological advancements, and the introduction of innovative products, all contributing to its expansion.
According to Data Bridge Market Research, the Foot and Ankle Devices Market is valued at USD 4.24 billion in 2021 and is expected to reach USD 8.36 billion by 2029, registering a CAGR of 8.85% during the forecast period of 2022-2029
“Growing aging population surge market demand"
The growing aging population worldwide is driving the demand for foot and ankle devices as they are more susceptible to foot and ankle problems due to factors such as weakened bones, reduced mobility, and age-related conditions. These devices play a crucial role in maintaining mobility and managing age-related foot and ankle issues, providing support, stability, and pain relief. As the elderly population continues to increase, the demand for foot and ankle devices is expected to rise accordingly.
What restraints the growth of the foot and ankle devices market?
“High cost of devices can impede the market growth”
The high cost of foot and ankle devices, such as surgical implants, braces, and specialized footwear, can pose a significant restraint, especially in regions with limited healthcare budgets or where affordable healthcare solutions are in demand. The expenses associated with these devices, including manufacturing, research and development, and regulatory compliance, can lead to higher prices for end-users. This can limit their accessibility and adoption, potentially impacting patient care and hindering market growth in cost-sensitive regions.
Segmentation: Global Foot and Ankle Devices Market
The foot and ankle devices market is segmented on the basis of product, application and end user.
- On the basis of product, the foot and ankle devices market is segmented into flexible ureteroscopes, semi-rigid ureteroscopes
- On the basis of application, the foot and ankle devices market is segmented into trauma and hair line fractures, rheumatoid arthritis and osteoarthritis, diabetic foot diseases, ligament injuries, neurological disorders, hammertoe, and others.
- On the basis of end user, the foot and ankle devices market is segmented into hospitals, ambulatory surgery centers, orthopedic clinics, and rehabilitation centers.
Regional Insights: North America dominates the global foot and ankle devices market
North America holds a dominant position in the foot and ankle devices market due to several factors. The region is home to leading companies involved in the development and manufacturing of innovative foot and ankle devices. Additionally, the active participation of children and youth in sports activities in North America increases the risk of foot and ankle injuries, driving the demand for devices that aid in injury prevention, treatment, and rehabilitation, contributing to the market's growth in the region.
The Asia-Pacific (APAC) region is projected to experience notable growth in the foot and ankle devices market from 2022 to 2029. This growth can be attributed to the increasing prevalence of orthopedic diseases in the region. Factors such as a large population base, changing lifestyles, and an aging population contribute to the rising incidence of foot and ankle conditions, driving the demand for devices that aid in the management and treatment of these diseases in the APAC region.
To know more about the study, visit, https://www.databridgemarketresearch.com/fr/reports/global-foot-and-ankle-devices-market
Recent Developments in Global Foot and Ankle Devices Market
- In 2020, the AxSOS 3 Ankle Fusion System was introduced by Stryker Corporation (U.S.). The tibio-talar joint is fused using a titanium plate system used for ankle fusion.
The Prominent Key Players Operating in the Global Foot and Ankle Devices Market Include:
- Zimmer Biomet (U.S.)
- Wright Medical Group N.V. (U.S.)
- Smith + Nephew (UK)
- Ottobock (Germany)
- Advanced Orthopedic Solutions (U.S.)
- JEIL MEDICAL CORPORATION (South Korea)
- Globus Medical (U.S.)
- Integra LifeSciences Corporation (U.S.),
- Johnson & Johnson Services, Inc. (U.S.)
- Arthrex, Inc. (Germany)
- Stryker Corporation (U.S.)
- MedShape, Inc. (U.S.)
- Acumed LLC (U.S.)
- Extremity Medical (U.S.)
- Orthofix Medical Inc. (U.S.)
- Response Ortho (Turkey)
- Bioretec Ltd. (Finland)
- VILEX IN TENNESSEE, INC., (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of foot and ankle devices market companies contact, https://www.databridgemarketresearch.com/fr/contact
Research Methodology: Global Foot and Ankle Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
