Global Foot and Ankle Devices Market Overview:
Foot and ankle devices are used to heal injuries and disorders in the foot and ankle joint area, with or without surgery. Foot and ankle devices are used to treat injuries caused by orthopedic disorders such as diabetic foot, ball of the foot, arthritis, and hammertoes with the help of surgical procedures. These devices also replace the foot that has been lost/damaged through amputation, trauma, or congenital conditions. Technological advances have made these devices lighter and stronger, limiting the extra amount of energy the organ can use. This is what drives the market for these devices. Injuries to the foot and ankle are usually caused by accidents and falls. On the flip side, arthritis, bunions, hammertoes, and diabetic foot are some of the disorders that can require surgical intervention with subsequent use of foot and ankle devices. Ankle and ankle extremities are a major contributor to the global foot and ankle device market. The Foot and Ankle Devices also include devices that hereby aid in ligament repair and reconstruction like arthrodesis, joint replacement, and internal fixation. The increasing incidence of injuries and diabetics who require surgery are paving the way for healthy growth in the foot and ankle devices market.
As per latest study released by AMA Research, the Global Foot and Ankle Devices market is expected to see growth rate of 9.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Favorable Healthcare Systems, The Increasing Prevalence in Loss of Functioning Of the Organs and Tissues and A Rising Awareness through Conferences & Symposia
Market Growth Drivers:
Growth in the Number of Sports Injuries, A Rise in the Prevalence of Diabetes, Rising Prevalence of Arthritis, Increasing Aging Population and Increasing Number of Podiatrists
Challenges:
The Lack of Trained Professionals
Restraints:
The High Cost of Some Foot and Ankle Devices and Excise Tax on Medical Devices
Opportunities:
The Introduction of Biologics to Treat Foot and Ankle Disorders, Coupled With Expansion & Penetration and The Rapid Technological Development Is Also Exceedingly Influencing the Growth
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Stryker Corporation (United States), Otto Bock HealthCare (Germany), Wright Medical (United States), Elite Orthopaedics, Inc. (United States), Oped AG (Switzerland), Osteotec Limited (United Kingdom), Smith & Nephew (United Kingdom), Anthrex (United States), Arrowhead (United States), Zimmer Biomet Holdings (United States) and Integra LifeSciences Holdings Corporation (United States). Additionally, following companies can also be profiled that are part of our coverage like Acumed (United States) and Extremity Medical LLC (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Foot and Ankle Devices market by 2030. Considering Market by Disorder Type, the sub-segment i.e. Diabetes will boost the Foot and Ankle Devices market. Considering Market by Procedure Type, the sub-segment i.e. Osteotomy will boost the Foot and Ankle Devices market.
Latest Market Insights:
In June 2023, Zimmer Biomet, a major player in the medical device industry, completed the acquisition of Biomet, a company focused on foot and ankle implants and biologics. This merger strengthens Zimmer Biomet's position in the foot and ankle market.
In October 2023, DJO Global, a leading manufacturer of braces and supports, introduced the AirCast A60 Air Ankle Brace, featuring an innovative strapping system for improved comfort and support.
What Can be Explored with the Foot and Ankle Devices Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Foot and Ankle Devices Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Foot and Ankle Devices
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Foot and Ankle Devices market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Foot and Ankle Devices market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Foot and Ankle Devices Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Research Organizations and End-Users.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.