Selbyville, Delaware, Aug. 15, 2023 (GLOBE NEWSWIRE) --
Foot and Ankle Devices Market size is expected to reach more than USD 9 billion by 2032. The industry expansion is driven by various factors that have fueled demand and innovation in the foot & ankle devices. There is increase in prevalence of chronic conditions such as osteoarthritis and rheumatoid arthritis, as well as sports injuries.
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The rising aging population, coupled with growing awareness about the benefits of early diagnosis & treatment of bone-related conditions, has the demand for foot and ankle devices. Moreover, advancements in technology and the introduction of minimally invasive procedures have enhanced patient outcomes and facilitated faster recovery. These factors have prompted key industry players to invest in R&D to introduce innovative solutions.
Rising demand for customized joint implants
The foot and ankle devices market is divided into joint implants, soft tissue orthopedic devices, bracing & support, prosthetics, and orthopedic fixations. The foot & ankle devices industry share from the joint implants segment is expected to grow through 2032. Joint implants play a vital role in restoring mobility and improving the quality of life for patients suffering from joint-related disorders.
With the increasing number of joint replacement surgeries and advancements in implant materials like titanium and ceramic, the joint implants segment is poised for significant expansion. Additionally, the growing preference for customized and patient-specific implants, along with the adoption of 3D printing technology in implant manufacturing.
Product usage for management of neurological disorders
Foot and ankle devices market is segmented into neurological disorders, trauma, hammertoe, rheumatoid arthritis, osteoarthritis, osteoporosis, and others. The market share from the neurological disorders segment will grow significantly through 2032. Neurological disorders, such as peripheral neuropathy, neuropathic pain, and diabetic foot ulcers, require effective treatment and management to prevent complications and improve patient outcomes. Foot and ankle devices, including braces, orthoses, and neuromuscular electrical stimulation devices, are important for the rehabilitation of such disorders. The rising incidence of neurological disorders, coupled with advancements in device technology.
Expanding healthcare infrastructure in APAC to drive product uptake
Asia Pacific foot and ankle devices market is touted to showcase impressive progression trends during 2023 and 2032, owing to the huge geriatric population base, along with the increased prevalence of chronic diseases and orthopedic conditions. Furthermore, the expanding healthcare infrastructure, rising disposable incomes, and increasing awareness about the availability of advanced treatment options are driving the demand for foot and ankle devices in the region. The favorable government initiatives aimed at improving healthcare accessibility and the presence of medical device manufacturers in the region.
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Major players in the global foot and ankle devices market are Medartis AG, Zimmer Biomet Holdings, Inc., Acumed, LLC, Johnson & Johnson, Arthrex, Inc., Conmed Corporation, Enovis, Orthofix Medical Inc., DJO, LLC, Össur, Ottobock SE & Co. KGaA, Paragon 28, Stryker Corporation, and Smith & Nephew plc, among others.
Partial Table of Contents (ToC) of the report:
Chapter 3 Foot And Ankle Devices Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing prevalence of orthopedic disorders
3.2.1.2 Rising incidence of trauma and road accidents
3.2.1.3 Technological advancements in foot and ankle devices
3.2.1.4 Increasing geriatric population base
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost of foot and ankle devices
3.2.2.2 Dearth of skilled healthcare professionals
3.3 Growth potential analysis
3.3.1 By product
3.3.2 By application
3.3.3 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Key market trends
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 Value chain analysis
3.11 Gap Analysis
3.12 Porter's analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Global company market share analysis, 2022
4.4 Vendor matrix analysis
4.5 Competitive positioning matrix
4.6 Strategy dashboard, 2022
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