Global Foot and Ankle Devices Market was valued US$ 1.58 Bn in 2017 and is expected to reach US$ 3.46 Bn by 2026, at a CAGR of 10.29% during a forecast period. The foot & ankle devices market is segmented into product, cause of injury, and region. In terms of product, global foot & ankle devices market is classified into bracing & support devices, joint implants, soft tissue orthopedic devices, orthopedic fixation, and prosthetics. Based on a cause of injury, global foot & ankle devices market is divided into trauma, diabetes, neurological disorders, and others. Based on regions, the global foot & ankle devices market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
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The foot & ankle devices are used to restore the function of the ankle & foot, and for the treatment of various conditions, such as diabetic foot, hammertoes, and arthritis. Based on the product, the need for joint implants is growing due to increasing life expectancy and the desire to stay active. Aging baby boomers are the major consumers of joint replacement products, mostly due to their desire to retain mobility. Bracing & support devices are used as a part of post-operative recovery therapy. Braces are used to prevent bone and muscle injuries.
In terms of the cause of injury, due to the huge geriatric population diabetes is leading to a high incidence of foot and ankle injuries. The major driving factors of foot and ankle devices market are growing aging population, and increasing occurrence rate of joint problems includes fractures, foot ulcer, arthritis, and bunion. The increasing rate of sports-related injuries, increasing incidence of diabetes & foot related disorders, and technological developments boosting the growth of foot & ankle devices market. Huge cost & reimbursement of devices, an excise tax on medical devices, and lack of skilled personnel to handle foot and ankle equipment are restraining the market growth.
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The rising senior populace across the globe indicates the key opportunity for foot and ankle devices as age can considerably decrease bone strength and increase the risk of fracture. Geographically, In North America is dominating the foot & ankle devices market due to the high rate of injuries and huge geriatric population in the country, which are the major factors for the highest market share of this region. The key player operating in global foot & ankle devices market are Acumed Llc, Arthrex Inc., Integra Life sciences Corporation, Depuy Synthes, Orthofix International, Ossur Hf, Smith & Nephew Plc., Stryker Corporation, and Wright Medical Group Inc.
Scope of Global Foot and Ankle Devices Market:
Global Foot and Ankle Devices Market, by Product:
• Bracing & Support Devices • Joint Implants • Soft Tissue Orthopedic Devices • Orthopedic Fixation • Prosthetics
Global Foot and Ankle Devices Market, by Cause of Injury:
• Trauma • Diabetes • Neurological Disorders • Others
Global Foot and Ankle Devices Market, by Region:
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• North America • Europe • Asia Pacific • Latin America • Middle East & Africa
The key player operating in Global Foot and Ankle Devices Market:
• Acumed Llc • Arthrex Inc. • Integra Lifesciences Corporation • Depuy Synthes • Orthofix International • Ossur Hf • Smith & Nephew Plc. • Stryker Corporation • Wright Medical Group Inc.