Foot
and ankle devices are used for the treatment of injuries including
diabetic foot, arthritis with the help of surgical procedures, etc.
Ankle disorders can cause damage to bone, muscle, and soft tissues.
Common disorders associated with the ankle disorder are sprain,
tendonitis, and fractures. The people with diabetes are prone to have
foot problems which develop due to prolonged periods of high blood
sugar levels. Along with foot and ankle, these devices are used in
ligament repair and reconstruction procedures including arthrodesis,
internal fixation, and joint replacement.
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Global
Foot and Ankle Devices Market - Drivers
Increasing
prevalence of road side accidents and sport injuries is expected to
drive the global foot and ankle devices market over the forecast
period. For instance, according to National Safety Council Analysis
of U.S. (NSC), in 2017, in U.S. due to exercise and exercise
equipment 526,000 injuries were reported while basketball, with
500,000 injuries. Furthermore, subsequent product launches,
continuous innovation of devices by manufacturers drive the global
foot and ankle devices market growth over the forecast period. For
instance, in March 2017, Integra LifeSciences Holdings Corporation
launched the Cadence Total Ankle System in the U.S., which is used to
treat ankle arthritis by replacing the ankle joint with a prosthesis,
which reduces the pain and allows the movement at the replaced joint.
Approvals
received by products from regulatory bodies associated with the
treatment of forefoot conditions expected to fuel growth of the
market. For instance, in January 2019, OSSIO, an orthopedic fixation
company, announced that its OSSIOfiber Bone Pin Family received
510(k) market clearance from the U.S. Food and Drug Administration
(FDA). OSSIOfiber platform will have the broad application in
spectrum of orthopedics as it is used commercially in foot and ankle
segment for the treatment of forefoot conditions. Furthermore,
increase in number of diabetic foot reconstruction, increase in
number of osteoporosis, rise in elderly population, and rise in
number of outpatient procedures have fueled growth of global foot and
ankle devices market. According to NCBI, in 2018 approximately 200
million people suffer from osteoporosis and approximately 8.9 million
fractures are caused by osteoporotic fractures.
Global
Foot and Ankle Devices Market - Regional Insights
North
America holds dominant position in the global foot and ankle device
market. The primary reason behind the market’s growth in North
America is increase in incidence of osteoporosis, rising demand for
minimally invasive surgeries, and well established healthcare
infrastructure.
Asia
Pacific is expected to witness the fastest growth rate due to the
presence of large patient pool, increasing awareness, and rising
healthcare expenditure in the Asian countries.
Global
Foot and Ankle Devices Market - Competitive Landscape
Some
of the key players operating in the global foot and ankle devices
market include DePuy Synthes, Wright Medical Technology, Inc.,
Advanced Orthopedic Solutions, Acumed, Bioretec, Stryker, Integra
LifeScience Corporation, Zimmer Biomet, Ossio, Smith & Nephew
plc., and Ossur.
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Global
Foot and Ankle Devices Market - Market Taxonomy
On
the basis of product type, the global foot and ankle devices market
is segmented into:
-
Bracing and support devices
-
Joint implants
-
Soft tissue orthopedic devices
-
Orthopedic fixation devices
-
Prosthetics
On
the basis of cause of injury, the global foot and ankle devices
market is segmented into:
-
Trauma
-
Diabetes
-
Neurological Disorders
-
Osteoporosis
-
Others
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