Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) — The “Global Foot and Ankle Devices Market Report 2022” report has been added; ResearchAndMarkets.com suggestion.
The global market for foot and ankle devices is expected to grow from USD 4.60 billion in 2021 to USD 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 USD 6.77 billion by 2026 at a CAGR of 7.4%.
The main product types of foot and ankle devices are orthopedic implants and devices, braces and supports, and prostheses. A prosthesis is an artificial device used to replace or augment a damaged or missing body part. This prosthesis is used for any artificial limb, whether it is an upper limb or a lower limb. They are divided by the cause of injury, such as trauma, diabetes, neurological disorders, etc., and are used by hospitals, ambulatory surgery centers, orthopedic clinics, rehabilitation centers, etc.
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 during 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 growing rate of orthopedic disorders is expected to drive the growth of the foot and ankle devices market moving forward. Orthopedic disorders are diseases affecting the musculoskeletal system that damage muscle and bone tissues, including bones, cartilage, ligaments, tendons, and connective tissues. Foot and ankle devices are used for various types of forefoot, midfoot, and hindfoot fusions, fractures, and osteotomies, which will enhance market growth. For example, according to the World Health Organization, a Swiss-based government agency, in 2021 musculoskeletal diseases affected 1.71 billion people worldwide, making them the leading cause of disability. In addition, 568 million people suffer from low back discomfort. Hence, increasing incidence rates of orthopedic disorders are driving the growth of the foot and ankle devices market.
Product innovations have emerged as a major trend, gaining popularity in the foot and ankle market. Companies operating in the Foot and Ankle market are undergoing new product innovations to gain competitive advantage.
For example, in September 2020, Stryker Corporation, a US-based medical technology company launched the AxSOS 3 Ankle Fusion System. It is a titanium ankle fusion plate system that aids in tibiotalar joint fusion. The ASOS 3 Ankle Fusion System was developed using Stryker’s proprietary orthopedic design and development system technology.
|Report a feature||Details|
|Number of pages||175:|
|Forecast period||2022 – 2026|
|Estimated market value (USD) 2022||$5.1 billion|
|Projected market value (USD) by 2026||$6.77 billion|
|Compound Annual Growth Rate||7.3%|
Reasons to buy:
- Gain a truly global perspective with the most comprehensive report on the market, covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to evolve and grow as the virus’s impact fades.
- Create regional and country strategies based on local data and analysis.
- Identify growth areas for investment.
- Outperform competitors by leveraging forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Use the connections between key data sets to develop an overriding strategy.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analytics
1) By product: fixing and supporting devices; Prostheses
2) Due to injury: injury; diabetes; Neurological disorders; Other reasons:
3) By end user: hospitals; ambulatory surgery centers; Orthopedic clinics; Rehabilitation centers; Other end users
A selection of companies featured in this report include:
- AAP Implant Ag:
- Akumed LLC
- Advanced orthopedic solutions
- Arthrex Inc.
- Biomet Inc.
- Conmed Corporation:
- DePuy Synthes Companies
- DonJoy Inc.
- Extremity Medical LLC
- Filauer LLC
- Groupe Fh Ortho (subsidiary of Olympus Corporation)
- Integra LifeSciences Holdings Corporation
- Medartis Inc.
- Mondeal Medical Systems GmbH.
- Ortho Solutions UK Ltd.
- Orthofix Medical Inc.
- Ossur H.F
- Ottobock Healthcare AG
- Smith & Nephew PLC.
- Stryker Corporation
- Tornier NV
- Vilex in Tennessee Inc.
- Wright Medical Technology Inc.
- Zimmer Biomet Holdings Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/6ismdq-and-ankle?w=12
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key sectors, leading companies, new products and the latest trends.
Global market for foot and ankle devices