(MENAFN- IMARC Group)
IMARC Group's report titled “Foot and Ankle Devices market Report by Product Type (Orthopaedic Implants and Devices, Musculoskeletal Reinforcement Devices, Artificial Tendons and Ligaments, Bracing and Support Devices, Prostheses), Application (Trauma and Hair line Fractures, Rheumatoid Arthritis and Osteoarthritis, diabetic Foot Diseases, Ligament Injuries, Neurological Disorders, Hammertoe, and Others), End User (Hospitals, Ambulatory Surgery Centers, Orthopaedic Clinics, Rehabilitation Centers), and Region 2024-2032′′ . The global foot and ankle devices market size reached US$ 5.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2032, exhibiting a growth rate (CAGR) of 7.16% during 2024-2032.
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Factors Affecting the Growth of the Foot and Ankle Devices Industry:
Increasing Prevalence of Sports Injuries and Disorders:
The increasing prevalence of sports-related injuries and disorders is one of the major factors bolstering the market growth. Moreover, the rising participation in sports and physical activities, boosting the incidence of injuries that require surgical interventions and long-term therapy, is creating a positive outlook for the market growth. Along with this, the growing adoption of foot and ankle devices, including orthopedic implants, braces, and support systems to support treatment procedures, is favoring the market growth. Besides this, the rising awareness among athletes and sports enthusiasts about the importance of early diagnosis and treatment to prevent long-term disabilities and ensure a quicker return to activity is catalyzing the market growth. Additionally, the development of more efficient and less invasive treatment options that make surgeries more accessible and appealing for patients with sports-related foot and ankle disorders, is stimulating the market growth.
Rapid Technological Advancements in Foot and Ankle Devices:
The development of lighter, stronger, and more biocompatible implants that offer improved outcomes for patients, is a major factor propelling the market growth. In line with this, the integration of three-dimensional (3D) printing technologies to create custom implants that match the patient's anatomy and enhance the effectiveness of surgical interventions is bolstering the market growth. Moreover, the advent of minimally invasive surgery (MIS) techniques that reduce recovery times and improve the post-operative quality of life for patients, thereby increasing the demand for advanced foot and ankle devices, is enhancing the market growth. Besides this, the development of smart orthopedic devices that are equipped with sensors that monitor healing progress and activity levels is anticipated to drive the market growth.
Growing Geriatric Population and Increasing Prevalence of Diabetes and Obesity:
The rising incidence of chronic conditions, such as osteoporosis, arthritis, and diabetic foot ulcers, which lead to mobility issues and foot and ankle complications, is catalyzing the market growth. Moreover, the growing geriatric population, who are susceptible to falls and fractures, necessitating the use of orthopedic devices for treatment and rehabilitation, is creating a positive outlook for the market growth. Along with this, the increasing need for surgical interventions and supportive devices, as obesity and diabetes contribute to foot and ankle stress, injuries, and deformities, is strengthening the market growth. Besides this, the growing awareness and proactive management of the conditions, boosting the demand for foot and ankle devices as patients seek solutions that offer improved mobility and quality of life, is favoring the market growth.
Leading Companies Operating in the Global Foot and Ankle Devices Industry:
Aap Implantate AG Acumed LLC (Colson Medical LLC) Arthrex Inc. DJO LLC (Enovis) Fillauer LLC Globus Medical Inc. Johnson & Johnson Ortho Solutions UK Ltd. Orthofix US LLC Össur hf. Ottobock SE & Co. KGaA Smith & Nephew plc Stryker Corporation Zimmer Biomet
Foot and Ankle Devices Market Report Segmentation:
By Product Type:
Orthopaedic Implants and Devices Joint Implants Ankle Implants Subtalar Joint Implants Phalangeal Implants
Fixation Devices Soft Tissue Orthopaedic Devices Musculoskeletal Reinforcement Devices Artificial Tendons and Ligaments
Bracing and Support Devices Soft Bracing and Support Devices Hinged Braces and Support Devices Hard Braces and Support Devices
Prostheses Solid Ankle Cushion Heel (SACH) Prostheses Single-Axial Prostheses Multiaxial Prostheses Dynamic Response/Energy-Storing Prostheses
Orthopaedic implants and devices constituted the largest segment due to their critical role in treating a wide range of foot and ankle conditions, such as fractures and degenerative diseases.
By Application:
Trauma and Hair line Fractures Rheumatoid Arthritis and Osteoarthritis Diabetic Foot Diseases Ligament Injuries Neurological Disorders Hammertoe Others
Trauma and hair line fractures represented the largest segment as these are among the most common injuries affecting the foot and ankle, driven by increasing sports activities, accidents, and falls.
By End User:
Hospitals Ambulatory Surgery Centers Orthopaedic Clinics Rehabilitation Centers
Hospitals holds the largest market share owing to their comprehensive healthcare facilities, including specialized orthopedic departments, which facilitate a broad spectrum of foot and ankle surgeries and treatments supported by advanced medical technologies.
Regional Insights:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
North America's dominance in the foot and ankle devices market is attributed to its well-established healthcare infrastructure, high healthcare expenditure, and the presence of leading device manufacturers, coupled with a growing prevalence of sports injuries and lifestyle diseases affecting foot and ankle health.
Global Foot and Ankle Devices Market Trends:
The integration of digital and mobile health technologies with foot and ankle devices, such as the use of wearable devices and mobile applications that monitor patient mobility, adherence to physiotherapy regimens, and real-time data collection on recovery progress, is boosting the market growth. Furthermore, the growing emphasis on patient-centric care, leading to the development of devices that address medical needs and focus on patient comfort and ease of use, is fueling the market growth. Apart from this, rapid innovations in bioresorbable implants and the use of stem cells for tissue regeneration that improve healing processes and outcomes are favoring the market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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