As per the research report, the size of the European Foot and Ankle Devices market is valued at USD 1.54 Billion in 2022 and is projected to reach USD 2.17 Billion by 2027, growing at a CAGR of 7.1% during the forecast period 2022 to 2027.
The market for foot and ankle devices in Europe is expected to rise due to an increase in the number of accident-related road traffic injuries worldwide.
Another key element boosting the growth rate of the Europe foot and ankle devices market is the Y-O-Y rise in the world's growing senior population. The present product commercialization trend is expected to enhance the growth of the European foot and ankle devices market. Due to a growing population and increased orthopedic injuries, the FDA approval and production of medical devices have steadily increased across the continent.
According to the World Health Organization, roughly 5.8 million people die each year due to injuries. In addition, around 1.36 million people are killed in automobile accidents each year. Between 20 & 50 million additional people are affected by non-fatal injuries, with many disabilities due to their injuries. Burns cause an estimated 180 000 deaths per year, according to the WHO, with the vast majority of these deaths occurring in low &middle-income nations.
In 2016, diabetes was predicted to be the sixth most significant cause of mortality. Diabetes has become significantly more common in low- and middle-income countries than in high-income countries. This has a favorable impact on the European foot and ankle devices market.
The expensive cost of some foot and ankle devices, the scarcity of skilled practitioners to operate them, and the possibility of a medical device excise tax limit the European market for these devices. In addition, medical device businesses' manufacture of various foot and ankle goods raises the cost of capital significantly. The first and most crucial problem is that the bone plates might loosen and back out of your damaged bone over time, requiring replacement. As a result, forces being applied to a tiny surface area, skin pressures are higher. These are the factors that are restraining the market's growth
This research report on the Europe Foot and Ankle Devices Market has been segmented and sub-segmented into the following categories.
By Cause of Injury:
Geographically, Europe is the second-largest market for foot and ankle devices globally, with the highest market share. Market demand will be met soon by the United Kingdom and Germany. However, this region is densely populated with well-established enterprises specializing in Foot and Ankle devices, resulting in a stagnant market.
The U.K Foot and Ankle Devices Market is expected to lead the market, followed by Germany. The rising prevalence of organ and tissue loss that leads to bone illnesses has propelled this region's market forward. On the other hand, bunions, arthritis, hammertoes, and diabetic foot are some of the ailments that may demand surgical procedures and, as a result, foot and ankle devices, driving the market's high adoption rate.
Furthermore, increased rates of degenerative bone disease and osteoporosis and a rapidly rising number of sports-related injuries are boosting demand for foot and ankle devices in Europe over the forecast period of 2021 to 2028. In addition, the rapid improvement of technology has significantly impacted the development of the European foot and ankle device market.
The German Foot and Ankle Devices Market is expected to reach a decent CAGR during the period due to the prevalence of chronic conditions such as arthritis, diabetes, and osteoporosis are expected to rise year over year, boosting the market for foot and ankle devices in Europe.
KEY MARKET PLAYERS
Key players leading the Europe Foot and Ankle Devices Market profiled in this report are Arthrex, Inc., Zimmer Biomet Holdings, Inc., Stryker Corporation, Tornier N.V., Össur, Acumed, and Extremity Medical, LLC., Integra LifeSciences Holdings Corporation.,Smith & Nephew plc, Wright Medical Technology, Inc.,
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