Asia Pacific Foot And Ankle Devices Market Research Report - Segmented By Products, Cause Of Injury & Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC) - Industry Analysis, Size, Share, Growth, Trends, & Forecasts | 2024 to 2029
As per the research report, the size of the Asia-Pacific Foot and Ankle Devices market is valued at USD 1.37 Billion in 2024 and is projected to reach USD 2.04 billion by 2029, at a CAGR of 8.2% during the forecast period from 2024 to 2029.
Foot and ankle devices are used in Asia pacific to restore ankle and foot function and treat various ailments like diabetic foot, hammertoes, and arthritis. The growing senior population and the rising occurrence rate of joint issues such as fractures, foot ulcers, arthritis, and bunion are driving the foot and ankle devices market.
One of the essential factors driving the growth of the foot and ankle devices market is sports-related injuries, the rising incidence of diabetes and foot-related ailments, and technological advancements. Furthermore, the growing senior population in Asia Pacific signals a substantial opportunity for foot and ankle devices, as aging reduces bone strength & increases fracture risk.
Diabetes is the common cause of foot and ankle injuries due to the senior population's cause of damage. The Asia Pacific is the region that dominates the global foot and ankle devices market because of the high occurrence of injuries and the aging population in china, both of which are vital contributors to Asia Pacific’s market dominance.
However, the market expansion is hampered by high device costs and reimbursements, a medical device excise tax, and a scarcity of qualified staff who can deal with foot and ankle devices. In addition, as per the product, the demand for joint implants grows as people live longer and want to keep active.
Geographically, Asia Pacific is one of the fastest-growing global market regions in terms of revenue due to an increased rate of unintentional injuries and a significant aging population. In addition, the government has built several trauma centers that specialize in dealing with emergencies.
The India Foot and Ankle Devices Market is projected to lead the way in growth in the future years and is likely to be aided by the growing senior population in the region, road accidents, and emerging economies.
The China Foot and Ankle Devices Market is predicted to grow at a significant rate because of the growing occurrence of road accidents, as well as the rising incidence of diabetes and osteoporosis in the region, which has necessitated the development of an effective healthcare system and trauma equipment and is also projected to strengthen the regional market for foot and ankle devices market over the projection period.
According to the American Diabetes Association, more than 23 million people in India have diabetes, and over 6.0 percent of those suffering have foot ulcers that require traditional wound care treatment. Diabetic foot ulcers are more prone to become infected and take longer to heal.
After hip and knee replacement procedures, ankle replacement surgeries are the second most prevalent replacement surgeries in Japan. In 2016, about 4,400 people in japan had ankle surgeries. Injured ankles and arthritic joints are the most typical reasons for ankle replacement procedures.
The Top companies dominating the APAC Foot and Ankle Devices Market profiled in the report are Össur, Acumed, and Extremity Medical, LLC, Smith & Nephew plc, Wright Medical Technology, Inc., Integra LifeSciences Holdings Corporation, Tornier N.V, Zimmer Biomet Holdings, Inc, Stryker Corporation, Arthrex, Inc.,
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