Ankle Replacement Market Scope
According to a Journal, ‘Clinical Orthopedics and Related Research’, 15% of the world’s population is affected by joint pain and disability resulting in Osteoarthritis of the ankle. Moreover, Center for Disease Control and Prevention has stated that, By 2040, estimated doctor-diagnosed cases are around 78 million (26%) in the United States. The increasing number of sports injuries and ageing population is driving the Global ankle replacement market. Ankle replacement is also known as ankle arthroplasty which is a surgical procedure in which damaged articular surfaces of human ankle joint is replaced with the prosthetic components. Severe arthritis is the result of progressive wearing down of the articular cartilage layer which cushions the joint’s moving surface resulting in bone on bone grinding with joint motion. Arthritis results in pain, loss of function and mobility. To avoid these complications non-operative ankle replacement or total ankle replacement (TAR) is expected to provide relief with ankle motion. Ankle replacement has evolved over the years and has replaced ankle fusion (locks the joint at a fixed position).
According to AMA, the Global Ankle Replacement market is expected to see growth rate of 6.24%The market is concentrated with few ankle replacement players who are involved in innovating new technologies for ankle replacement market such as advancement of 3D printing technology for the use of custom-designed implants to-treat foot and ankle pathologies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Ankle Replacement market throughout the predicted period.
Stryker Corp. (United States), Zimmer Holdings (United States), DePuy Synthes (United States), Medtronic plc (Ireland), Smith and Nephew plc (U.K.), Exactech Inc., (United States), Tornier (United States) and Biomet Inc., (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Wright Medical Group and Ottobock (U.K.), Shanghai Thytec (China), Waldemar Link Gmbh and Co. KG (Germany), Smith & Nephew (United States) and KYOCERA Medical Corp (Japan).
Segmentation Overview
The study have segmented the market of Global Ankle Replacement market by Type (Multi-axis joint and Uniaxial joint), by Application (Osteoarthritis, Rheumatoid Arthritis and Others) and Region with country level break-up.
On the basis of geography, the market of Ankle Replacement has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023.
Influencing Trend:
Active Lifestyle and Injuries Related To Sports Activity
Market Growth Drivers:
Increased Incidence of Accident and Trauma Patients, Rising Prevalence of Osteoarthritis and Rheumatoid Arthritis Patients and The Rising Number of the Ageing Population
Challenges:
Poor Accessibility of the Ankle Joint, Bone Preservation, Stability of Fixation and Articulation of the Polyethylene (PE)
Restraints:
Long Duration of Healing and Rehabilitation, Risk Associated With the Replacement Surgery and The Need for Stringent Regulatory Action by the Government
Opportunities:
Increasing Number of Training Programs Focusing On Surgical Techniques of Ankle Replacement
Market Leaders and their Expansionary Development Strategies
In November 2018, Integra XT revision Total Ankle Replacement System offers innovative solution to ankle arthroplasty surgery. It is a first FDA cleared device for further treatment of ankle arthroplasty solutions.
In April 2018, a new study published in ‘Foot and Ankle International’, have allowed foot and ankle Orthopaedic surgeons to use custom-made implants for severe foot and ankle replacement cases. The implants offer a new approach to treat complex lower extremity pain, bone loss, bone quality, and deformities.
Key Target Audience
Orthopaedicians, Health care sector, Government and regulatory bodies, Ankel Replacement Traders, Ankel Replacement Distributors, Ankel Replacement Suppliers and Physiotherapists
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.