(2020 - 2023) Global Foot & Ankle Devices Market is Anticipated to Reach US$ 8% Billion by 2023

Foot & Ankle Devices Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Foot & Ankle Devices market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Foot & Ankle Devices Market report is anticipated to register a CAGR of 8% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Foot & Ankle Devices Market are –

  • ACUMED LLC
  • ARTHREX INC.
  • INTEGRA LIFESCIENCES CORPORATION
  • DEPUY SYNTHES (JOHNSON & JOHNSON)
  • ORTHOFIX INTERNATIONAL
  • OSSUR HF
  • SMITH & NEPHEW PLC.
  • STRYKER CORPORATION
  • WRIGHT MEDICAL GROUP INC.

The global foot & ankle devices market is estimated to witness a CAGR of 8% during the forecast period. Foot and ankle devices are used in the treatment of injuries, which are caused by diseases or disorders, such as osteoporosis, rheumatoid arthritis, osteoarthritis, diabetic foot, bunions, hammertoes, and several other diseases, like trauma and neurological disorders.

Increasing Number of Sports Injuries and Road Accidents

According to National Trauma Data Bank, in the United States, around 281,000 foot and ankle injuries were reported in a study period of 2007-2011. The rate of the injuries is increasing annually and is leading to a high incidence of foot and ankle injuries. Most of the reported foot and ankle injuries were because of sports. In a study on Incidence and Epidemiology of Foot and Ankle Injuries in Elite Collegiate Athletes, it was observed that 21% of the total foot and ankle injuries are from sport-related injuries. These injuries include lateral ankle ligament sprains, syndesmotic sprains, medial ankle ligament sprains, mid-foot injuries, and first metatarsophalangeal joint injuries. Ankle dislocation is one of the major injuries, and it is observed that around 83% of such dislocations require surgeries. This increasing rate of sports-related injuries acts as a major factor for increased usage of foot and ankle related devices. Other factors include increasing incidence of diabetes and foot related disorders and technological developments, such as automatic foot and ankle devices.

Stringent Regulatory Guidelines

The medical devices categorized under foot and ankle devices are either involved in the treatment or diagnosis of the injury and disease. These devices are under the moderate to high-risk devices classification, and hence, require more regulation, in addition to the stringent assessment process. The medical device regulations change from country to country. The devices must qualify the regulatory requirements of the country where they are to be marketed. The manufacturers have to go through a long procedure to get approvals for a product. For example, an FDA approval requires a time-period of 3 to 6 months from submission to clearance, and this may get extended based on the risks involved in the usage of the device. Hence, the strict regulatory policies are hindering the growth of the market.
Other factors, such as huge cost and reimbursement of devices and lack of skilled personnel to handle equipment are restraining the market.

US has the Highest Market Share

In North America, the United States is dominating the foot & ankle devices market due to the high rate of injuries and huge geriatric population in the country, which are the major factors for the highest market share of this region. Asia-Pacific is expected to record substantial growth during the forecast period.

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Scope of the Report:

The report analyses Foot & Ankle Devices market, which includes –

  • Analysis of the growth of Foot & Ankle Devices market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Foot & Ankle Devices market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Foot & Ankle Devices market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Foot & Ankle Devices market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Foot & Ankle Devices Market Report:

  • Varying dynamics of the Foot & Ankle Devices industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Foot & Ankle Devices market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Foot & Ankle Devices market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Foot & Ankle Devices Market Report:

  • The report analyses how stringent emission control norms will drive the global Foot & Ankle Devices market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Foot & Ankle Devices market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Foot & Ankle Devices:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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