According to a report by Grand
View Research, Inc., the global foot
and ankle devices market is estimated to reach at USD 3.4
billion by 2025. The market is anticipated to register a growth rate of
10.1 % during the forecast period (from 2018 to 2025). Growing cases of
osteoporosis among geriatric population are anticipated to propel the demand
for foot and ankle devices. These devices offer support and mobility during the
recovery from injuries. Significant changes in skeletal and neurological
systems among geriatric population leading to weak ligaments, arthritis, and
Anterior Cruciate Ligament (ACL) tear can fuel the product demand in
forthcoming years. Increasing number of sports-related injuries and road
accidents are also expected to influence the market growth in the coming years.
Rising cases of diabetic foot
ulcers, which can take longer time to heal is stimulating the demand for
advanced healthcare systems and trauma devices. This is also anticipated to
augment the market development from 2018 to 20025. Growing demand for these
devices among athletes to prevent any possible injuries while performing is likely
to propel market expansion. In addition, supportive reimbursement policies for
joint replacement are also estimated to have a positive impact on the market
growth in the next few years. Increasing adoption of surgeries related to ankle
replacement attributed to ankle arthritis are expected to further augment the
market demand during the forecast period.
Access
Research Report of Foot and Ankle Devices Market@: www.grandviewresearch.com/industry-analysis/foot-and-ankle-devices-market
The foot and ankle devices
market is segregated on the basis of product, application, and region. On the
basis of product, the market is categorized into joint implants, orthopedic
fixation, bracing & support, soft tissue orthopedic devices, and
prosthetics. Joint implants segment is anticipated to witness a substantial
growth during the forecast period attributed to rising cases of implant
surgeries among geriatric population. On the basis of application, the market
is classified into trauma, hammertoe, osteoarthritis, rheumatoid arthritis,
neurological disorders, bunions, and osteoporosis. In 2016, trauma segment
dominated the market and accounted for revenue share equivalent to USD 263.3
million. It is expected to reach at USD 616.6 million by 2025.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/medical-devices
On the basis of regions, the
market is divided into Asia Pacific, North America, Europe, Latin America, and
Middle East & Africa (MEA). In 2016, North America dominated the market and
accounted for maximum revenue share. Growing number of geriatric population in
the region is anticipated to be the major factor driving the region’s
development. In addition, presence of advanced trauma centers established by local
governments to handle emergency situations is also likely to stimulate the
market growth in the region. Moreover, increasing number of diabetic patients
suffering from foot ulcers can also influence the market demand in this region.
In Asia Pacific region, Japan
is estimated to be the largest consumer of foot and ankle devices in the
forthcoming years. Increasing number of road accidents coupled with growing
geriatric population are likely to fuel the market growth in Asia Pacific. In
addition, increasing cases of diabetes and osteoporosis can further impel the
demand for effective trauma devices and healthcare systems in the region. This,
in turn, can stimulate market growth during the forecast period.
Some of the leading companies
in the foot and ankle devices market are Advanced Orthopedic Solutions; Zimmer
Biomet; Stryker Corp.; Integra LifeSciences Corp.; and Bioretec Ltd. Most of
these companies are investing more in R&D activities in order to introduce
newer, cost-efficient, and advanced products. For instance, Nextremity
Solutions recently received clearance from the US Food and Drug Administration
(FDA) for its InCore Lapidus system. The device stabilizes and corrects
multi-planar deformities. This joint is essential and lies at inner part of the
middle of foot. When this joint faces excess movement or looseness, the
condition is called hypermobility, which can further lead to formation of
bunion. The fusion system can stabilize such deformity and provide visibility
for surgeon’s joint preparation during Lapidus procedures.
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Press Release of Foot and Ankle Devices Market@: www.grandviewresearch.com/press-release/global-foot-and-ankle-devices-market
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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