Global Foot and Ankle Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Global Foot and Ankle Devices Market is estimated to be $ 5.32 billion and predicted to rise to $ 8.07 billion with a CAGR of 7.5%. The market is segmented by Products (Orthopedic Implants and Devices, Prostheses, Bracing and Supporting Devices), by Cause of Injury (Trauma, Diabetes, Neurological Disorders, osteoporosis, rheumatoid arthritis, osteoarthritis, hammertoe, bunions). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The market for Foot and Ankle Devices is mainly driven due to increasing cases of bone injuries amongst the aged people with vascular disease and diabetes that leads to the deterioration of foot-ankle area with infections due to poor blood circulation and large sores. But, the market growth can be restrained due to high cost of some of foot and ankle devices, implied excise tax on medical devices and lack of skilled personnel to handle equipment.
Orthopedic Implants and Devices contribute the largest share in the market. Prosthetic devices are expected to witness a lucrative growth during the forecast period due to the technological advancements and the introduction of more efficient devices.
Geographically, Global market for Foot and Ankle Devices is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe. The market in North America is highly driven due to higher acceptance rate, patient affordability and large number of sports injuries. The Foot and Ankle Devices market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing aging population and rising sports injuries.
Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc., Smith & Nephew plc, Wright Medical Technology, Inc. , Integra LifeSciences Holdings Corporation , Tornier N.V., Össur, Acumed and Extremity Medical, LLC, are the major players of Global Foot and Ankle Devices market.
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