(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The 'foot and ankle devices global market report 2022' report has been added to ResearchAndMarkets.com's offering.
The global foot and ankle devices market is expected to grow from $4.60 billion in 2021 to $5.10 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The foot and ankle devices market is expected to grow to $6.77 billion in 2026 at a CAGR of 7.4%.
The main types of products in foot and ankle devices are orthopedic implants and devices, bracing and support devices, and prostheses. A prosthesis is an artificial device that is used to replace or augment an impaired or missing part of the body This prosthesis applies to any artificial limb, regardless of whether it is an upper limb or lower limb. These are divided by the cause of injury, such as trauma, diabetes, neurological disorders, others, and are used by hospitals, ambulatory surgery centers, orthopedic clinics, rehabilitation centers, others.
North America was the largest region in the foot and ankle devices market in 2021. Asia pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foot and ankle devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing rates of orthopedic disorders are expected to propel the growth of the foot and ankle devices market moving forward. Orthopedic disorders are diseases which affect the musculoskeletal system that damages the muscle and bone tissues, it includes bones, cartilage, ligaments, tendons, and connective tissues. Foot and ankle devices are used to address various types of fusions, fractures, and osteotomies in the forefoot, midfoot and rearfoot, which would increase the market growth. For instance, according to World Health Organization, a Switzerland-based government agency, musculoskeletal diseases affected 1.71 billion people worldwide in 2021, making them the major cause of disability. Apart from that, there are 568 million people who suffered from low back discomfort. Therefore, the growing incidence rates of orthopedic disorders are driving the growth of the foot and ankle devices market.
Product innovations have emerged as a key trend gaining popularity in the foot and ankle market. Companies operating in the foot and ankle market are going through new product innovations to gain a competitive advantage.
For instance, in September 2020, Stryker Corporation, a US-based medical technology company launched AxSOS 3 Ankle Fusion System. It is an ankle fusion titanium plate system that helps for the fusion of the tibiotalar joint. ASOS 3 Ankle Fusion System was developed with the help of Stryker's proprietary orthopedic design and development system technology.
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $5.1 billion |
| Forecasted Market Value (USD) by 2026 | $6.77 billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Reasons to Purchase
Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies. Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates. Create regional and country strategies on the basis of local data and analysis. Identify growth segments for investment. Outperform competitors using forecast data and the drivers and trends shaping the market. Understand customers based on the latest market research findings. Benchmark performance against key competitors. Utilize the relationships between key data sets for superior strategizing. Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
Markets Covered:
1) By Product: Bracing and Support Devices; Prostheses
2) By Cause Of Injury: Trauma; Diabetes; Neurological Disorders; Other Causes
3) By End User: Hospitals; Ambulatory Surgery Centers; Orthopedic Clinics; Rehabilitation Centers; Other End Users
A selection of companies mentioned in this report includes
AAP Implantate Ag Acumed LLC Advanced Orthopaedic Solutions Arthrex Inc. Biomet Inc. Conmed Corporation DePuy Synthes Companies DonJoy Inc. Extremity Medical LLC Fillauer LLC Groupe Fh Ortho (A Subsidiary of Olympus Corporation) Integra LifeSciences Holdings Corporation Medartis Inc. Mondeal Medical Systems GmbH. Ortho Solutions UK Ltd. Orthofix Medical Inc. Ossur HF Ottobock Healthcare AG Smith & Nephew PLC. Stryker Corporation Tornier N.V Vilex in Tennessee Inc. Wright Medical Technology Inc. Zimmer Biomet Holdings Inc.
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global foot and ankle devices market
Global Foot and Ankle Devices Market Global Foot and Ankle Devices Market Tags artificial limb extremities foot and ankle device orthopedic design orthopedic devices orthopedic implant prostheses prosthesis
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