Global Foot and Ankle Devices Market – Industry Trends and Forecast to 2029

Global Foot and Ankle Devices Market, By Product Type (Flexible Ureteroscopes, Semi-Rigid Ureteroscopes), Application (Urolithiasis, Upper Urinary Tract Infection, Urinary Stricture, Kidney Cancer), End User (Hospitals, Ambulatory Surgical Centers, Others) – Industry Trends and Forecast to 2029.

Global Foot and Ankle Devices Market Analysis and Size

Foot and ankle devices are utilized for healing various foot and ankle fractures owing to the conditions, such as diabetic foot, hammertoes, arthritis and bunions, among other orthopedic disorders. The rise in incidences of diabetes is escalating the growth of foot and ankle devices market.

• 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 market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Foot and Ankle Devices Market Definition

Foot and ankle devices refer to the devices that are utilized for treating several foot and ankle injuries caused by arthritis, and other orthopedic disorders. These devices are also utilized for replacing the lost foot due to amputation, trauma, or any other accident.

Foot and Ankle Devices Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

• Growth of Geriatric Population

The rise in geriatric population across the globe acts as one of the major factors driving the growth of foot and ankle devices market as they are more prone to chronic diseases.

• Funds and Grants

The surge in investments in the form of funds and grants for foot and ankle devices accelerate the market growth.

• Number of Sports Injuries

The rise in the number of sports and accident-related foot and ankle injuries further influence the market.

• Product Affordability

The greater product affordability and market availability will assist in the expansion of the market.

Global Foot and Ankle Devices Market Opportunities

Furthermore, emergence of bioresorbable and 3D-printed implants extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, branding initiatives undertaken by major product manufacturers is projected to challenge the foot and ankle devices market in the forecast period of 2022-2029.

This foot and ankle devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on foot and ankle devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Foot and Ankle Devices Market

A decline in demand for foot and ankle devices as hospitals became primarily focused on the COVID-19 pandemic. The pandemic affected the orthopedics field as doctors were not able to concentrate on regular patients. Medical professionals were being redeployed for treating COVID-19 patients. The non-availability of hospital staff and operation facilities reduced the growth of the market. However, the foot and ankle devices is expected to recover the losses in the post pandemic.

Recent Development

• Stryker Corporation (US) launched the AxSOS 3 Ankle Fusion System in September’2020. It is an ankle fusion titanium plate system that is utilized for the fusion of the tibio-talar joint.

Global Foot and Ankle Devices Market Scope and Market Size

the foot and ankle devices market is segmented on the basis of product, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

• Orthopedic Implants and Devices
• Bracing And Support Devices
• Prostheses

On the basis of product, the foot and ankle devices market is segmented into orthopedic implants and devices, bracing and support devices and prostheses. Orthopedic implants and devices are further segmented into joint implants, fixation devices and soft tissue orthopedic devices. Joint implants are sub-segmented into ankle implants (ankle replacement devices), subtalar joint implants/subtalar joint reconstruction devices and phalangeal implants. Fixation devices are sub-segmented into internal fixation devices and external fixation devices. Internal fixation devices are further sub-segmented into screws, plates, wires and pins and fusion nails. External fixation devices are further sub-segmented into unilateral fixators, ring ankle fixators and hybrid fixators. Soft tissue orthopedic devices are sub-segmented into musculoskeletal reinforcement devices and artificial tendons and ligaments. Bracing and support devices is sub-segmented into soft bracing and support devices, hinged braces and support devices and hard braces and support devices. Prostheses are sub-segmented into solid ankle cushion heel (SACH) prostheses, single-axial prostheses, multiaxial prostheses, dynamic response/energy-storing prostheses and microprocessor-controlled (Mpc) prostheses.

Application

• Trauma and Hair Line Fractures
• Rheumatoid Arthritis and Osteoarthritis
• Diabetic Foot Diseases
• Ligament Injuries
• Neurological Disorders
• Hammertoe
• Others

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.

End user

• Hospitals
• Ambulatory Surgery Centers
• Orthopedic Clinics
• Rehabilitation Centers

On the basis of end user, the foot and ankle devices market is segmented into hospitals, ambulatory surgery centers, orthopedic clinics and rehabilitation centers.

Foot and Ankle Devices Market Regional Analysis/Insights

The foot and ankle devices market is analysed and market size insights and trends are provided by country, product type, application and end user as referenced above.

The countries covered in the foot and ankle devices 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.

North America dominates the foot and ankle devices market because of the presence of leading companies and involvement of children and youth in sports within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising prevalence of orthopaedic diseases in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The foot and ankle devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for foot and ankle devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the foot and ankle devices market. The data is available for historic period 2010-2020.

Competitive Landscape and Foot and Ankle Devices Market Share Analysis

the foot and ankle devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to foot and ankle devices market.

Some of the major players operating in the foot and ankle devices market are Zimmer Biomet (US), Wright Medical Group N.V. (US), Smith + Nephew (UK), Ottobock (Germany), Advanced Orthopedic Solutions (US), JEIL MEDICAL CORPORATION (South Korea), Globus Medical (US), Integra LifeSciences Corporation (US), Johnson & Johnson Services, Inc. (US), Arthrex, Inc. (Germany), Stryker Corporation (US), MedShape, Inc. (US), Acumed LLC (US), Extremity Medical (US), Orthofix Medical Inc. (US), Response Ortho (Turkey), Bioretec Ltd. (Finland), and VILEX IN TENNESSEE, INC., (US), among others.

Research Methodology : Global Foot and Ankle Devices Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

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 versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-foot-and-ankle-devices-market