Global Foot and Ankle Devices Market was valued at USD 5.52 billion in 2020, growing at a CAGR of 7.66% during the forecast period (2021-2026), it is anticipated to hit USD 8.58 billion by 2026.
Some of the leading factors, such as the rising prevalence of bone-related disorders, the increasing geriatric population, the rising number of accident & trauma cases, and the rising number of sports-related injuries, among others, are expected to drive the market growth. Globally, some of the prominent Foot and Ankle Devices Companies with their products in various stages of development include DePuy Synthes (Johnson and Johnson), Stryke, Zimmer Biomet, Smith and Nephew, Medartis AG, Acumed, Orthofix Medical Inc., and others.
DelveInsight’s “Global Foot and Ankle Devices Market Insights and Forecast” Report provides the current and forecasted market trends for the next five years, upcoming innovation in the devices, individual market shares, challenges, drivers & barriers, and key competitors in the market.
Foot and Ankle Overview
In the year 2020, approximately 1.71 billion people globally were suffering from musculoskeletal conditions & lower back pain, asserts World Health Organization (2021). As per Global Rheumatoid Arthritis Network (2021), more than 350 million people had suffered from arthritis globally. To overcome the challenges of Foot and Ankle disorder/conditions, various devices are available in the market are actively working to cater to the various needs.
Foot and ankle devices come in different forms and sizes to serve the diverse needs of the user. The devices are used in the treatment of indications such as hallux rigidus, arthritis, Lisfranc fractures, and pes planus (flat feet). Foot and ankle devices are used for ankle joint, hindfoot, midfoot and forefoot, and toe digits.
Some of the major ankle devices used for the treatment of arthritis and traumatic ankle injuries include total ankle replacements, ankle intramedullary nails, ankle plates, screw systems, and ankle external fixators. Additionally, the devices can also be employed in the replacement of the lost foot due to trauma, amputation, congenital deformity, or any other accident.
As per DelveInsight, owing to the increasing prevalence of musculoskeletal conditions & arthritis, in the coming years there will be an increase in the overall demand for foot and ankle devices, thereby contributing to the market growth for these devices.
Get more detailed insights, at Foot and Ankle Devices Applications and Product Type
Foot and Ankle Devices Market Insights
In terms of revenue share North America currently leads the global market and is expected to dominate the segment during the forecast period, estimates DelveInsight. In the United States, according to the Centers for Disease Control and Prevention (2020), approximately 63 million people had suffered from arthritis, which is estimated to rise to 78 million by the year 2045. Further, according to the International Osteoporosis Foundation (2021), it is estimated that in the year 2020, around 75 million people in the United States had osteoporosis.
The major factors contributing to the dominance of North America in the Foot and Ankle Devices segment include the high prevalence of arthritis, rising population of people suffering from osteoporosis, ascending product launch pattern, and a well-established reimbursement scenario for foot and ankle devices in the region. Additionally, the prompt and well-established healthcare services and infrastructure contributes to the growth of the regional market.
Moreover, it is observed that the presence of Foot and Ankle Devices key players in the region is relatively high; the major factor is being the supportive reimbursement programs which provide immense growth opportunities for revenue and demand.
Further, the Asia-Pacific region is also expected to show immense growth during the forecast period, owing to the increase in sport-related injuries cases, higher susceptibility to foot and ankle disorders such as arthritis, osteoarthritis, and others, the rising geriatric population, improving healthcare infrastructure, among several other factors.
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Recent Breakthroughs In Foot and Ankle Devices Market
In recent years, the Foot and Ankle Devices Market observed expansions in terms of clinical, commercial, and clinical development. Here are some of the major breakthroughs in the segment –
- On February 18, 2021, the FDA had approved the world’s first 3D-printed ankle joint implant Additive Orthopaedics’ 3D-printed Patient-Specific Talus Spacer, for humanitarian use.
- On October 26, 2020, Tyber Medical had received the FDA clearance on the foot and ankle plating system. The FDA clearance covers over 42 different indication-specific anatomical plating families, extensively developed using a combination of CT scans, cadaveric labs, and consultation.
- On April 27, 2021, Colfax subsidiary DJO has acquired orthopedic medical device company MedShape to expand its foot and ankle business as well as add advanced shape memory technologies to its portfolio.
As per DelveInsight, owing to the ongoing commercial and clinical development, there will be rapid growth in the Foot and Ankle Devices Market during the forecast period.
Foot and Ankle Devices Companies
Foot and Ankle Devices is one of the most competitive domains in the MedTech segment, drawing significant attention from the key players. Globally, some of the key Foot and Ankle companies in the Market include Acumed, Advanced Orthopaedic Solutions, Allard USA Inc., College Park Industries, CONMED Corporation, Corin Group, DePuy Synthes (Johnson and Johnson), Fillauer LLC, Globus Medical, JEIL MEDICAL CORPORATION, Medartis AG, MedShape Inc, Orthofix Medical Inc., OsteoMed, OTTOBOCK., Paragon 28 Inc., Roadrunnerfoot Engineering Srl., Smith and Nephew, Stryker, Zimmer Biomet, and Others.
Covid-19 Impact On Foot and Ankle Devices Market
Like other sectors, the COVID-19 pandemic had a deep impact on the healthcare sector, including elective and non-urgent surgeries across the countries. The demand for Foot and Ankle Devices is primarily affected by the outbreak of the COVID-19 pandemic. The government imposed lockdowns to curb the spread of the virus leading to restrictions in movement and a decrease in regular check-ups. The Covid-19 precautionary measures have an impact on the surgeries and the demand for Foot and Ankle Devices as well.
However, as the situation is improving with the increasing vaccination number, rising awareness among the general population, the relief in lockdowns, healthcare services are expected to get on track and also anticipated to boost the demand for Foot and Ankle Devices.
Scope of the Foot and Ankle Devices Market Report:
- Geography Covered: Global
- Study Period: 2021-2026
- Market Segmentation By Device Type – Orthopedic Implants and Devices, Soft Tissue Orthopedic Devices, Bracing and Support Devices, and Prostheses.
- Market Segmentation By Product Type –
- Joint Implants – Ankle Implants, Subtalar Joint Implants, and Phalangeal Implants
- Internal Fixation Devices – Screws, Plates, Fusion Nails, and Wires & Pins.
- External Fixation – Circular Fixators and Others,
- Prostheses – Solid Ankle Cushion Heel Foot, Single-Axial Prostheses, Multi-Axial Prostheses, and Others.
- Bracing and Support Devices – Soft Bracing, Hinged Bracing, and Others.
- Market Segmentation By Application – Trauma and Hairline Fractures, Ligament Injuries, Arthritis, Neurological Disorders, and Others.
- Market Segmentation By End-user – Hospitals, Ambulatory Surgical Centers, Others
- Market Segmentation By Geography – North America, Europe, Asia-Pacific, and Rest of the World
- Foot and Ankle Companies in the Market – Acumed, Advanced Orthopaedic Solutions, Allard USA Inc., College Park Industries, CONMED Corporation (CNMD), Corin Group, DePuy Synthes (Johnson and Johnson), Fillauer LLC, Globus Medical, Inc. (GMED), JEIL MEDICAL CORPORATION, Medartis Holding AG (MED.SW), MedShape Inc, Orthofix Medical Inc. (OFIX) OsteoMed, OTTOBOCK, Paragon 28, Inc. (FNA), Roadrunnerfoot Engineering Srl, Smith and Nephew (SNN), Stryker (SYK), Zimmer Biomet (ZBH), and Others.
- Porter’s Five Forces Analysis
- Product Profiles
- Case Studies
- KOL’s Views
- Analyst’s View
Table of Contents
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1 |
Foot and Ankle Devices Market Report Introduction |
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2 |
Foot and Ankle Devices Market Executive summary |
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3 |
Regulatory and Patent Analysis |
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4 |
Foot and Ankle Devices Market Key factors analysis |
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5 |
Foot and Ankle Porter’s Five Forces Analysis |
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6 |
COVID-19 Impact Analysis on Foot and Ankle Devices Market |
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7 |
Foot and Ankle Devices Market Layout |
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8 |
Foot and Ankle Devices Global Company Share Analysis – Key 3-5 Companies |
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9 |
Foot and Ankle Product Profiles and Key Companies |
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10 |
Project Approach |
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11 |
KOL Views |
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12 |
DelveInsight Capabilities |
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13 |
Disclaimer |
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14 |
About DelveInsight |
Key Takeaways From the Foot and Ankle Devices Market Report Study
- In-depth analysis of the Foot and Ankle Devices Market size, share, and key trends.
- Comprehensive analysis for current Foot and Ankle Devices Market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on the Foot and Ankle Devices Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Foot and Ankle Devices Market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Market.
- Various opportunities are available for the other competitor in the domain.
- What are the top-performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Foot and Ankle Devices market growth in the coming future?
About DelveInsight
DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.
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