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
- 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
- High cost of foot and ankle devices
- Metal sensitivity in patients with foot and ankle implants
- Marketing, promotion, and branding initiatives undertaken by major product manufacturers
- Emergence of bioresorbable and 3D-printed implants
- 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:
- Orthopedic Implants and Devices
- Bracing and Support Devices
- Trauma & Hair line Fractures
- Rheumatoid Arthritis & Osteoarthritis
- Diabetic Foot Diseases
- Ligament Injuries
- Neurological Disorders
By End User
- 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)
- 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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