Foot and ankle devices are used in various procedures like total ankle replacement, ankle fusions, fracture reduction, bunion removal, and diabetic foot amputation, among others. The products used in treating foot and ankle disorders include screws, wires and pins, plates, fusion nails, fixators, joint implants, soft tissue orthopedic implants, and bracing systems, among others. The foot & ankle joint implants market comprises reconstructive devices or implants used to replace failed joints, while soft tissue orthopedic devices help repair injuries of internal ligaments and tendons.
The global foot and ankle devices market is segmented on the basis of product, cause of injury, and region. By product, the market is categorized into orthopedic implants and devices, prostheses, and bracing and supporting devices. In 2015, the orthopedic implants and devices segment is estimated to account for the largest share of the foot and ankle market. This segment is expected to grow at the fastest rate during the forecast period.
On the basis of cause of inury, the market is divided into trauma, diabetes, neurological disorders, and others (osteoporosis, rheumatoid arthritis, osteoarthritis, hammertoe, and bunions). In 2015, the others segment is expected to account for the largest share of the market. However, the trauma segment is expected to grow at a faster rate during the forecast period.
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Growth in the number of sports injuries, an expected global rise in prevalence of diabetes, the rising prevalence of arthritis in Australia and the U.S., the regular entry of new products in the market, and rising geriatric population (resulting in growing incidence of bone) injuries are the major factors driving this market. On the other hand, the high cost of some foot and ankle devices and the excise tax on medical devices in the U.S. and are expected to restrain the growth of the market. The lack of trained professionals is a major challenge for the global market. However, the introduction of biologics to treat foot and ankle disorders and expansion & penetration opportunities in BRIC and South Africa are lucrative opportunities in the market.
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On the basis of regions, this market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
The foot and ankle devices market is expected to reach USD 5.41 Billion in 2020 from USD 3.82 Billion in 2015 at a CAGR of 7.2%. The market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the fastest rate during the forecast period.
Some major players in the global market include Stryker Corporation (U.S.), Arthrex, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Smith & Nephew plc (U.K.), Wright Medical Technology, Inc. (U.S.), Integra LifeSciences Holdings Corporation (U.S.), Tornier N.V. (Netherlands), Össur (Iceland), Acumed, LLC (U.S.), and Extremity Medical, LLC (U.S.).
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