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Foot And Ankle Devices Global Market Report 2022

Foot And Ankle Devices Global Market Report 2022

  • July 2022
  • 175 pages
  • ID: 6310800
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the foot and ankle devices market are Aap Implantate Ag, Acumed LLC, Advanced Orthopaedic Solutions, Arthrex Inc, Biomet Inc., Conmed Corporation, DePuy Synthes Companies, DonJoy Inc., Extremity Medical LLC, Fillauer LLC, Groupe Fh Ortho (A Subsidiary of Olympus Corporation), Integra LifeSciences Holdings Corporation, Medartis Inc., Mondeal Medical Systems GmbH., Ortho Solutions UK Ltd., Orthofix Medical Inc., Össur HF, Ottobock Healthcare AG, Smith & Nephew PLC., Stryker Corporation, Tornier N.V, Vilex in Tennessee Inc., Wright Medical Technology Inc, and Zimmer Biomet Holdings Inc.

The global foot and ankle devices market is expected to grow from $4.60 billion in 2021 to $5.10 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The foot and ankle devices market is expected to grow to $6.77 billion in 2026 at a CAGR of 7.4%.

The foot and ankle devices market consists of sales of foot and ankle devices by entities (organizations, sole proprietors, and partnerships) that help to reduce foot pain caused by medical conditions such as arthritis, bunions, plantar fasciitis, flat feet, and diabetes. Foot and ankle devices are medical devices that are used to treat foot and ankle diseases through surgical procedures.

The main types of products in foot and ankle devices are orthopedic implants and devices, bracing and support devices, and prostheses.A prosthesis is an artificial device that is used to replace or augment an impaired or missing part of the body This prosthesis applies to any artificial limb, regardless of whether it is an upper limb or lower limb.

These are divided by the cause of injury, such as trauma, diabetes, neurological disorders, others, and are used by hospitals, ambulatory surgery centers, orthopedic clinics, rehabilitation centers, others.

North America was the largest region in the foot and ankle devices market in 2021.Asia pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the foot and ankle devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The foot and ankle devices market research report is one of a series of new reports that provides foot and ankle devices market statistics, including foot and ankle devices industry global market size, regional shares, competitors with a foot and ankle devices market share, detailed foot and ankle devices market segments, market trends and opportunities, and any further data you may need to thrive in the foot and ankle devices industry. This foot and ankle devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing rates of orthopedic disorders are expected to propel the growth of the foot and ankle devices market moving forward.Orthopedic disorders are diseases which affect the musculoskeletal system that damages the muscle and bone tissues, it includes bones, cartilage, ligaments, tendons, and connective tissues.

Foot and ankle devices are used to address various types of fusions, fractures, and osteotomies in the forefoot, midfoot and rearfoot, which would increase the market growth. For instance, according to World Health Organization, a Switzerland-based government agency, musculoskeletal diseases affected 1.71 billion people worldwide in 2021, making them the major cause of disability. Apart from that, there are 568 million people who suffered from low back discomfort. Therefore, the growing incidence rates of orthopedic disorders are driving the growth of the foot and ankle devices market.

Product innovations have emerged as a key trend gaining popularity in the foot and ankle market.Companies operating in the foot and ankle market are going through new product innovations to gain a competitive advantage.

For instance, in September 2020, Stryker Corporation, a US-based medical technology company launched AxSOS 3 Ankle Fusion System.It is an ankle fusion titanium plate system that helps for the fusion of the tibiotalar joint.

ASOS 3 Ankle Fusion System was developed with the help of Stryker’s proprietary orthopedic design and development system technology.

In June 2021, Paragon 28, a US-based orthopedic medical device company acquired Additive Orthopedics for an undisclosed amount.Through this acquisition, Paragon expands improved its product portfolio and significantly accelerated the company’s strategy to gain a mechanical advantage in smart tools, artificial intelligence, and advanced technology to improve patient outcomes.

Additive Orthopedics is a US-based orthopedic devices company, which offers innovative orthopedic implants for feet and ankles, and provides solutions by the use of 3D printing technology to its customers.

The countries covered in the foot and ankle devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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