Global Foot and Ankle Devices Market Size, Share, Business Growth,...

Global Foot and Ankle Devices Market Size, Share, Business Growth, New Opportunity and Forecast to 2025

Posted 2023-06-05 10:02:12

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The Global Foot and Ankle Devices Market worth $5.3 billion by 2025, growing at a CAGR of 6.4% in the upcoming years.

The market growth is driven by greater disease burden for key risk groups, emergence of user-centric foot and ankle devices, and rising demand for minimally invasive surgical procedures. However, the risk associated with surgical site infection is expected to limit market growth in the coming years.

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Foot and ankle devices Industry Dynamics

Drivers

Increasing prevalence of orthopedic diseases and foot and ankle disorders
Continuous product commercialization
Greater product affordability and market availability
Rising number of sports and accident-related foot and ankle injuries
Growing public-private educational and awareness initiatives related to preventive & post-operative care

Restraints

High cost of foot and ankle devices
Metal sensitivity in patients with foot and ankle implants

Opportunities

Marketing, promotion, and branding initiatives undertaken by major product manufacturers
Emergence of bioresorbable and 3D-printed implants

Challenges

Higher adoption of alternative therapies for the treatment of foot and ankle disorders & injuries
Increasing pricing pressure on market players
Dearth of skilled professionals

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Foot and Ankle Devices Market Segmentation:

By Product

Orthopedic Implants and Devices
Bracing and Support Devices
Prostheses

By Application

Trauma & Hair line Fractures
Rheumatoid Arthritis & Osteoarthritis
Diabetic Foot Diseases
Ligament Injuries
Neurological Disorders
Hammertoe
Others

By End User

Hospitals
Ambulatory Surgery Centers
Orthopedic Clinics
Rehabilitation Centers

North America is expected to command the largest share of the foot and ankle devices industry in 2019

The report covers the foot and ankle devices market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America, and MEA. North America commanded the largest share of the foot and ankle devices market in 2019. The increasing R&D to develop patient specific foot and ankle devices, rising prevalence of orthopaedic diseases, technological advancements in foot and ankle devices products and procedures are the key factors supporting market growth in North America.

Key Market Players

DePuy Synthes Companies (US), Stryker Corporation (US), Zimmer Biomet Holdings, Inc (US), Smith & Nephew plc (UK), Arthrex Inc (US), Integra LifeSciences Holdings Corporation (US), DJO Finance, LLC (US), CONMED Corporation (US), Össur HF (Iceland), Orthofix Medical Inc. (US), Medartis AG (Switzerland), Acumed LLC (US), Extremity Medical (US), aap Implantate AG (Germany), Ottobock SE & Co. KGaA (Germany), Ortho Solutions UK Ltd. (UK), Vilex in Tennessee, Inc. (US), Advanced Orthopaedic Solutions (US), Fillauer LLC (US), and Groupe FH Ortho (France)

Recent Developments

In September 2020, Stryker Corporation (US) launched the AxSOS 3 Ankle Fusion System, which is an ankle fusion titanium plate system used for the fusion of the tibio-talar joint.
In March 2020, DePuy Synthes (US) launched the FIBULINK Syndesmosis Repair System in the US for the treatment of traumatic injuries to the syndesmosis.
In June 2020, DePuy Synthes renewed its agreement with AO Foundation (Switzerland) to continue with the advancement of surgical education.

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