Foot and ankle injuries are common in car accidents. The growing global impact of traffic accidents is driving the demand for improved medical technologies for treatment and repair. According to a World Health Organization research issued in 2022, 93% of road fatalities occur in low- and middle-income nations, despite the fact that these countries own nearly 60% of the world's vehicles. The number of disability cases is increasing globally due to an ageing population and an increase in chronic health issues, which is leading to the adoption of therapies, which is driving the growth of the foot and ankle devices market.
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Global Foot and Ankle Devices Market was 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. The global population is aging, and this is leading to an increase in the prevalence of foot and ankle disorders. As people age, their bones and joints become weaker, which makes them more susceptible to injury. The popularity of sports is increasing, which is leading to an increase in the number of sports injuries. Foot and ankle injuries are particularly common in sports that involve running, jumping, and twisting.
Growing number of foot and ankle fractures is expected to drive the market's growth rate
Trauma or direct injury to the bone is the most common cause of foot and ankle fractures. The availability of improved medical equipment, as well as an increase in ankle and foot fractures, are likely to drive category growth. According to the Centers for Disease Control and Prevention's National Centre for Injury Prevention and Control study, the overall number of adults in 2030 is expected to be 73 million, with the number of falls and fall injuries increasing as the population of older individuals grows. According to the same source, 52 million persons in the elderly population will fall, and 12 million will be injured. Falls and injuries in the elderly can result in fractures.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Orthopedic Implants And Devices, Bracing And Support Devices And Prostheses), Application (Trauma And Hair Line Fractures, Rheumatoid Arthritis And Osteoarthritis, Diabetic Foot Diseases, Ligament Injuries, Neurological Disorders, Hammertoe And Others), End User (Hospitals, Ambulatory Surgery Centers, And Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Cadwell Industries Inc. (U.S.), Compumedics Limited (Australia), NeuroWave Systems Inc. (U.S.), Natus Medical Incorporated (U.S.), Medtronic (Ireland), NIHON KOHDEN CORPORATION (Japan), NeuroSky (China), Bio-Signal Group Corp. (U.S.), Elekta AB (Sweden), Lifelines Neuro (U.S.), Neurosoft S.A. (Greece), EMS Handels Gesellschaft mbH (Austria), Jordan NeuroScience, Inc. (U.S.), BrainScope Company Inc. (U.S.), Advanced Brain Monitoring, Inc. (U.S.), EB Neuro S.p.A. (Italy), g.tec medical engineering GmbH Austria (Austria), Bitbrain Technologies (Spain), Electrical Geodesics, Inc. (U.S.), Masimo (U.S.), ELMIKO MEDICAL sp. Z oo (Poland), and Micromed (Italy)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The foot and ankle devices market is segmented on the basis of product, application and end user.
- On the basis of product type, the foot and ankle devices market is segmented into orthopedic implants and devices, bracing and support devices and prostheses. The orthopedic Implants and devices segment is expected to dominate the global foot and ankle devices market with 85.78% market share due to the growing number of fractures and road accidents.
- 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.
The trauma and hair line fractures segment is expected to dominate the global foot and ankle devices market
The trauma and hair line fractures segment is expected to dominate the global foot and ankle devices market with 47.39% market share. This is because of the growing number of trauma cases and hair line fractures due to accidents.
- On the basis of end user, the foot and ankle devices market is segmented into hospitals, ambulatory surgery centers, and others.
Hospitals segment is expected to dominate the global foot and ankle devices market
The hospitals segment is expected to dominate the global foot and ankle devices market with 62.43% market share. Hospitals serve as the primary healthcare setting for the diagnosis and treatment of lung cancer. They have the necessary infrastructure, medical expertise, and resources to provide comprehensive care.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Cadwell Industries Inc. (U.S.), Compumedics Limited (Australia), NeuroWave Systems Inc. (U.S.), Natus Medical Incorporated (U.S.), Medtronic (Ireland), NIHON KOHDEN CORPORATION (Japan), NeuroSky (China), Bio-Signal Group Corp. (U.S.), Elekta AB (Sweden), Lifelines Neuro (U.S.), Neurosoft S.A. (Greece), EMS Handels Gesellschaft mbH (Austria), Jordan NeuroScience, Inc. (U.S.), BrainScope Company Inc. (U.S.), Advanced Brain Monitoring, Inc. (U.S.), EB Neuro S.p.A. (Italy), g.tec medical engineering GmbH Austria (Austria), Bitbrain Technologies (Spain), Electrical Geodesics, Inc. (U.S.), Masimo (U.S.), ELMIKO MEDICAL sp. Z oo (Poland), and Micromed (Italy).
Market Development
- In 2022, Medline UNITE Foot & Ankle's Calcaneal Fracture Plating System and IM Fibula Implant were approved by the US Food and Drug Administration in April. With the nationwide distribution of these two devices, surgeons will have access to a full titanium foot and ankle trauma system, allowing them to treat nearly all fractures that require ORIF with plate and screw fixation.
- In 2021, the orthopaedic medical device business Paragon 28 paid an unknown sum for Additive Orthopaedics' product lines. Paragon 28 has also acquired Additive Orthopaedics' patented and end-to-end pre-operative surgical planning application as part of the transaction.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the foot and ankle devices market during the forecast period 2022-2029
North America is the largest market for foot and ankle devices. This is due to the region's large population, high level of healthcare spending, and aging population.
Asia-Pacific is estimated to be the fastest growing region in the foot and ankle devices market in the forecast period 2022-2029
Asia-Pacific is the third largest and the fastest growing market for foot and ankle devices. This is due to the region's high level of healthcare spending, growing economy, and increasing awareness of foot and ankle health.
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