Foot And Ankle Devices Market Report

Foot And Ankle Devices Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2015 To 2022

Format: PDF  |  Report ID: GVR1951

Increase in aging population and rising incidence rate of joint problems such as bunion, arthritis, foot ulcer and fractures are the major drivers of foot and ankle devices market. According to the National Health Interview Survey (NHIS), it is estimated that approximately 22.7% of adults in the US are diagnosed with arthritis every year, significantly higher age prevalence amongst women (23.9 percent) as compared to men (18.6 percent). Increasing cases of bone injuries amongst the aged people with vascular disease and diabetes that leads to the deterioration of foot-ankle area with infections due to poor blood circulation and large sores is further expected to drive the foot and ankle devices market during the forecast period. Growing incidence rate of injuries due to sports and major accidents is also giving a boost to the market. As all the devices of artificial joints are highly accepted by the population, it is projected that the market will compete highly against other devices market.Furthermore, advancement in technologies such as greater battery life, additional shock absorption also augments the demand for the foot and ankle devices market.

The foot and ankle devices market is segmented on the basis of external fixation devices, internal fixation devices, joint implants, soft tissue orthopedic devices, foot and ankle prosthetic market and foot and ankle bracing and support market. The internal fixation devices market is further segmented into fusion nails, screws, wires & pins and plates. Hybrid plates are expected to raise the demand for foot and ankle devices during the forecast period due to its applicability and versatility and the fact that it is more beneficial for comminuted fractures, patient with poor bones or for those patient who require fixation. External fixation devices include ring ankle fixator, unilateral fixator and hybrid fixators. Joint implants are sub classified into phalangeal implants, total ankle replacement and subtalar joint replacement. Joint implants market is experiencing a strong growth due to increasing cases of joint conditions such as bunions, hyper pronated feet, hammer-toes and stabilization of the subtalar joint. It also estimated that the market for total joint implant, ankle implant and other minor joint areas would experience significant growth in the near future. Soft tissue orthopedic devices include musculoskeletal reinforcement and artificial tendons and ligaments. Foot and ankle prosthetic market is sub segmented into microprocessor controlled prostheses (MPC), solid ankle cushion heel (sach) foot, dynamic response/energy storing prostheses, single axial prostheses and multi axial prostheses. Prosthetic devices are expected to witness a lucrative growth during the forecast period due to the technological advancements and the introduction of more efficient devices as they are widely used for supporting ankle joint, therefore providing support, comfort and stability during any movement. The rise in foot & ankle bracing market is particularly due to the increasing awareness about routine exercise and physical fitness particularly in sports. The aging population is another factor that has added to the growth of the foot & ankle bracing market.

On the basis of geography the foot and ankle devices market is segmented inti North-America, Asia-Pacific, Europe, Latin-America and MEA. North America covers the largest market share for the foot and ankle devices due to higher acceptance rate, patient affordability and large number of sports injuries. Asia-Pacific is expected to experience a growth in the market owing to increasing aging population and rising sports injuries. It is estimated that total ankle joint replacement procedures in the US is around 5,000 every year. Approximately 40% of fracture cases require surgical intervention, involving placement of permanent support to the bone. Advancement in implant device design such as ankle replacement has made surgery a feasible option for thousands of people. Growing preference for total ankle replacement (TAR) over fusion procedures as former enables flexibility of ankle post-surgery unlike the fusion procedure which is rigid is expected to propel the overall growth of the market.

The key players operating in the market include Smith & Nephew, De PuySynthes, Integra, Biomet, Arthrex, Tornier, Stryker, Acumed, Vilex, OrthoHelix, BioPro, Wright Medical, Orthofix, Zimmer Holdings, Small Bone Innovations and Mondeal.

 

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