Foot and Ankle Devices Market is Expected to Reach US$ 3,672.8 Mn by 2025
Posted by Shristi on November 7th, 2019
“The Foot and Ankle Devices Market is growing at tremendous growth rate over the forecast period 2019-2025 and expected to reach US$ 3,672.8 Mn by 2025, due to surge in R&D for the launch of newer devices into market”.
Precision Business Insights (PBI) in its report titled “Foot and Ankle Devices Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
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The global foot and ankle devices market expected to reach US$ 24,368.4 Mn by 2025. The foot and ankle devices market is growing at significant CAGR owing to growing number of road accidents and sports injuries, for instance, ankle dislocation is majorly caused sports injuries and approximately 83% of such injuries require surgeries, and rising occurrences of diabetes and foot disorders, and technical advancements such as additional shock absorption and enhanced battery life. Additionally, increase in the prevalence of osteoarthritis coupled with surge in geriatric population also propel the foot and ankle devices market over the forecast years. For instance, ankle dislocation is majorly caused sports injuries and approximately 83% of such injuries require surgeries. However, high cost of advanced foot and ankle devices, low penetration of devices in underdeveloped economies, and stringent regulatory guidelines are the factors impede the foot and ankle devices market over the forecast timeframe
Foot and ankle devices market segmented on the basis of product type, application, end user, and region.
Joint Implants Segment Expected to Dominate the Market
Based on product type, the foot and ankle devices market is segmented into fixation devices, joint implants, soft-tissue orthopedic devices, prosthesis, and bracing and supporting devices. Joint implants dominated the global foot and ankle devices market and the market is expected to grow at 5.9% CAGR over the forecast period owing to development of technologically advanced devices by the market players. For instance, in September 2019, Active Implants, LLC, received FDA approval for Nusurface Meniscus Implant, an orthopedic implant solutions for joint preservation. Moreover, bracing and supporting devices growing at notable CAGR over the forecast years owing to increase in the adoption for post-operative rehabilitation therapy and surge in the adoption by athletes to prevent bone and muscle injuries.
North America Accounts for Major Revenue Share for Foot and Ankle Devices Market
Precision Business Insights (PBI), foot and ankle devices market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among the all regions, North America expected to hold largest share in 2018 in global foot and ankle devices market and the market is anticipated to raise at significant growth rate over the forecast years due to increase in the prevalence of arthritis in USA and Canada. For instance, according to the National Health Interview Survey (NHIS), about 22.7% of adults are diagnosed with arthritis per year in USA. Moreover, increase in the number of sports injuries, rise in R&D expenditure for advanced devices, and presence of uge number of market players are bolster the market over the forecast years. In addition, Europe foot and ankle devices market creates lucrative opportunities over the forecast years owing to adoption of advanced devices and frequent product approval for foot and ankle devices in Europe. For instance, in 2016, DT MedTech, LLC received CE mark approval for Hintermann Series H3 total ankle replacement system.
Strategic Alliances and Launch of Newer Products in Foot and Ankle Devices Market
Key player’s profiles in the report are Stryker Corporation, Smith & Nephew plc, Wright Medical Group N.V., Activa Implants, LLC., DePuy Orthopaedics, Inc., Integra LifeSciences Corporation, Extremity Medical, Zimmer Biomet, Inc., and Mondeal Medical Systems GmbH
By Product Type
By End User
Middle East and Africa (MEA)
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About the AuthorShristi
Joined: September 17th, 2019
Articles Posted: 60
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