Growth Factors Driving the Market: The Usage of bioresorbable implants and devices is a key trend in reconstruction, resulting in the elimination for the need for surgery for removal of devices are the key factors supporting the growth of the market. The Foot and ankle devices offer several benefits such as better affordability, higher efficacy, greater patient comfort, and are easy-to-use as compared to conventional products. Moreover, key players are increasingly focusing on the development of specialized products for the treatment of various foot and ankle disorders and deformaties as well as to address the unmet market needs
MarketsandMarkets™ View on Revenue: The Foot Devices Market is projected to reach USD 5.3 billion by 2025, at a CAGR of 6.4% during the forecast period.
Industry Segmentation in Detailed:
The orthopedic implants and devices products segment dominated the global foot and ankle devices market;
Based on the product, the foot devices market is segmented into orthopedic implants and devices, bracing and support devices, and prostheses. Orthopedic implants and devices products include joint implants, fixation devices, and soft tissue orthopedic devices. The orthopedic implants and devices segment dominated the foot and ankle devices market in 2019. Rising incidences of diabetes, new product launches, coupled with the rising adoption of branded orthopedic devices and implants because of better quality and lower risk associated with surgical site infection in emerging countries, is expected to drive the segment growth.
The trauma & hair line fractures products segment dominated the global foot and ankle devices market;
Based on the application, the foot and ankle devices market is segmented into trauma & hair line fractures, rheumatoid arthritis & osteoarthritis, diabetic foot diseases, ligament injuries, neurological disorders, hammertoe and others. The trauma and hair line fracture segment accounted for a larger share of in the market in 2019. The increasing prevalence of sport injuries and road accidents, growing number of foot and ankle reconstruction procedures related to fractures, rapid growth in the aging population across the globe, and the development of advanced foot and ankle products are factors expected to drive the growth of this market segment in the coming years.
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Foot and Ankle Devices Market
Leading Key Players Analysis:
The major players in the foot devices market are DePuy Synthes Companies (US), Stryker Corporation (US), Zimmer Biomet Holdings, Inc (US), Smith & Nephew plc (UK), Arthrex Inc (US), Integra LifeSciences Holdings Corporation (US), DJO Finance, LLC (US), CONMED Corporation (US), Össur HF (Iceland), Orthofix Medical Inc. (US), Medartis AG (Switzerland), Acumed LLC (US), Extremity Medical (US), aap Implantate AG (Germany), Ottobock SE & Co. KGaA (Germany), Ortho Solutions UK Ltd. (UK), Vilex in Tennessee, Inc. (US), Advanced Orthopaedic Solutions (US), Fillauer LLC (US), and Groupe FH Ortho (France), among others.
DePuy Synthes Companies (A subsidiary of Johnson & Johnson Services, Inc) (US) has a wide range of product offerings in the foot and ankle devices market, including internal fixation devices, external fixation devices, joint implants and musculoskeletal reinforcement d evices products. The company sustains its key position in the global foot and ankle devices market owing to its multiple product launches. DePuy Synthes has a strong product portfolio, supporting around one million orthopedic and neuro procedures worldwide.The company is focused on innovations and improving the quality of its products with increasing investment in its R&D department. DePuy Synthes global footprint allows it to cater to a customer base across 60+ countries such as Germany, the UK, South Korea, France, Australia, and the US.
Geographical Trends in Detailed:
The report covers the foot devices market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America, and MEA. North America commanded the largest share of the foot and ankle devices market in 2019. The increasing R&D to develop patient specific foot and ankle devices, rising prevalence of orthopaedic diseases, technological advancements in foot and ankle devices products and procedures are the key factors supporting market growth in North America. Moreover, most of the prominent companies in the global market are headquartered in the region or have a strong presence in this market, such as DePuy Synthes Companies, Stryker Corporation, Zimmer Biomet Holdings, Inc and DJO Finance, LLC. Others have focused on expansion to increase their reach and capabilities. This is another key factor attributed to the prominent growth of the market.
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