20th September 2019 – The global Foot
and Ankle Devices Market size is expected to value at USD 3.4 billion
by 2025. The market is subject to witness a substantial growth due to the rise
in elderly population and increase in the occurrence of target diseases like
osteoporosis. Globally, the foot & ankle devices market is predicted to
grow at a CAGR of 10.1% in forecast period, providing numerous opportunities
for market players to invest for research and development in the market.
Osteoporosis is primary cause of reduced
bone density, thus inducing fractures even with minor form of injury or trauma.
As many as nine million people have been reported that are suffering from the
osteoporosis disease on annual basis across the globe. Such factors are causing
osteoporotic fracture every three seconds. Prime victims of the disease are
menopausal women. As recent reports suggest, one out of three women above the
age of fifty experiences an osteoporotic fracture. These factors are
responsible for the growth of foot & ankle devices industry, thus creating
lucrative opportunities for market players, in recent years. Additionally, rise
in the number of road accidents and sports injuries are further propelling
demand of the foot and ankle devices. Growing number of cases of sports
injuries are attributed to rise in the professional sporting activities all
across the globe. Commonly occurring sports injury is an ankle sprain, which is
an injury to the ligaments in the ankle.
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The foot and ankle devices industry
devices are categorized into major five types such as bracing &support
devices, joint implant equipment, soft tissue orthopedic instruments,
intramedullary fixation devices, and artificial limbs. Rise in the demand of
the joint implants is attributed to factors such as longer life expectancy and
the desire to stay active. Elderly population are the main consumers of joint
implant equipment, owing to their ability to remain mobile. Bracing is widely
adopted as a form of rehabilitation therapy after the surgery. Growing
popularity of the bracing and support devices in sport injuries to reduce bone
and muscle injuries, is expected to drive market demand in upcoming years.
Ankle replacement surgery is one of the
fastest growing segment in the foot and ankle devices market with substantial
revenue generation in the last couple of years. Hip and knee replacement
surgeries has also witnessed substantial growth, mainly in the Unites States
market, in recent years. Major causes for these surgeries are rising in
occurrence of ankle and arthritic joint injuries. Sports such as football and
baseball enable a major risk of soft tissue injuries.
The foot and ankle devices industry is
divided by region such as North America, Europe, Asia-Pacific, Latin America
and Africa. North America has shown major growth in recent years owing to the
rise in adoption of latest technologies and existence of well-established
healthcare infrastructure. Asia-Pacific region is predicted to hold major
market share in the foot and ankle devices market with massive growth in
forecast period. Countries such as India, China and Japan are leading the
Asia-Pacific market with growing elderly population and significant investment
by leading industry players considering potential opportunities in the region.
The key players in the foot and ankle
devices industry are DePuy Synthes Companies, Zimmer Biomet Holdings, Inc.,
Stryker Co., Integra LifeSciences Co., Wright Medical Technology
Incorporations, Advanced Orthopedic Solutions Incorporations, Acumed Limited,
Bioretec Limited, and Össur hf.
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