Foot and ankle devices are used to treat several foot and ankle injuries caused by diabetic foot, arthritis, bunions, hammertoes, and other orthopedic disorders. These devices are also used to replace the lost foot due to trauma, amputation, congenital deformity, or any other accident.
World foot and ankle devices market is driven by several factors such as increase in the ageing population and the incidence rates of orthopedic disorders. As per the estimates of National Health Interview Survey (NHIS) 22.7% of the U.S. population is diagnosed with arthritis every year. Besides, the prevalence rate of arthritis in the U.S. is 23.9% in women and 18.6% in men. This leads to an increase in demand for foot and ankle treatment devices. In addition, increase in prevalence of diabetes and increase in foot and leg injuries during sports and accidents will further drive the market growth. In addition, technological advancements in this field will further propel the market growth. On the other hand, high cost of devices and lack of trained professionals will restrict the growth of the market.
The report segments the world foot and ankle devices market on the basis of product, cause of injury, and geography. Based on product, the market is divided into orthopedic implants & devices, bracing & supporting devices, and prostheses. On the basis of cause of injury, the market is classified into diabetes, trauma, neurological disorders, and others (rheumatoid arthritis, osteoporosis, hammertoe, osteoarthritis, and bunions). Based on geography, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA regions.
The world foot and ankle devices market has witnessed acquisitions and mergers in the recent years. For example: in May 2016, Zimmer Biomet completed acquisition of Cayenne Medical for its tissue repair solution and reconstruction solutions product portfolio. It enhanced companys reconstruction, trauma, and extremities portfolio.
Key players that operate in the world foot and ankle devices market include Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew plc, Integra LifeSciences Holdings Corporation, Wright Medical Group N.V., Johnson & Johnson, Extremity Medical, LLC, Arthrex, Inc., Acumed, LLC, and ssur.
KEY MARKET BENEFITS:
- The study provides an in-depth analysis of the world foot and ankle devices market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographic regions is provided that helps determine the prevailing opportunities in these geographies.
- Key market players within the world foot and ankle devices market are profiled in the report and their strategies are analyzed thoroughly, which predicts competitive outlook of the global market.
- Extensive analysis of the market is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
KEY MARKET SEGMENTS:
- Orthopedic Implants and Devices
- Bracing and Supporting Devices
- Neurological Disorders
- Others (Rheumatoid Arthritis, Osteoporosis, Hammertoe, Osteoarthritis, and Bunions)
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA