Dublin, July 19, 2023 (GLOBE NEWSWIRE) -- The "Foot And Ankle Devices Market Size, Share & Trends Analysis Report By Product (Soft Tissue Orthopedic Devices, Orthopedic Fixation), By Application (Trauma, Osteoarthritis), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global foot and ankle devices market is poised for significant growth, with a projected size of USD 7.1 billion by 2030 and a steady CAGR of 6.9%
This growth is attributed to several factors, including the rapid development of healthcare infrastructure, the rising number of foot and ankle surgical procedures, the increasing prevalence of obesity and diabetes, and the growing adoption of patient-specific solutions.
While key industry players experienced a decline in net sales during the pandemic, they quickly adapted by implementing strategic initiatives such as new product launches, mergers, acquisitions, and collaborations to drive market recovery. Furthermore, the COVID-19 pandemic has accelerated the integration of digital healthcare in foot and ankle surgeries.
Leading companies showcased innovative solutions at the American Academy of Orthopedic Surgeons (AAOS) Conference 2021, leveraging robotics, data insights, and remote care management tools like the VELYS Digital Surgical Platform and Mymobility with Apple Watch.
Additionally, the market is fueled by the increasing geriatric population, which faces a higher risk of foot injuries due to the need for greater physical activity to maintain fitness and factors such as trauma, poor balance, and coordination issues. According to the WHO, globally, one in six individuals will be 60 years or older by 2030. This number will double by 2050. (2.1 billion).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $4.2 Billion |
| Forecasted Market Value (USD) by 2030 | $7.1 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Foot And Ankle Devices Market Report Highlights
- The orthopedic fixation segment dominated the industry in 2022 due to the high number of ankle fractures that require surgeries.
- In terms of application, the trauma segment dominated the global industry in 2022
- Asia Pacific is anticipated to register the fastest CAGR over the forecast period due to the rising cases of foot & ankle fractures as a result of the high incidence of sports accidents.
- Key companies are focusing on various strategic initiatives to strengthen their services and gain a competitive advantage over others.
- For instance, in June 2022, Enovis Corp. announced its subsidiary DJO, LLC launched a new MaxTrax 2.0 Air and ProCare MaxTrax 2.0 Walking Boots.
- The MaxTrax 2.0 is designed for tailored healing with dependable support, personalized fit, and improved comfort. It expands upon the company's market-leading MaxTrax walking boot.
Company Profiles
- Stryker Corporation
- Johnson & Johnson (De PuySynthes)
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- Ossur
- Envois
- Acumed, LLC
- Arthrex, Inc.
- Paragon 28
- Orthofix
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Snapshot
2.3. Competitive Insights Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage
3.1.1. Parent Market Analysis
3.1.2. Ancillary Market Analysis
3.2. Foot and Ankle Devices Market - Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing expenditure on research & development (R&D) by industry players
3.2.1.2. Rising geriatric population
3.2.1.3. Increasing prevalence of target diseases
3.2.1.4. Rising incidence rate of road accident
3.2.2. Market Restraint Analysis
3.2.2.1. High cost of foot and ankle devices
3.2.2.2. Uncertainty in regulatory reforms
3.3. Business Environmental Tools Analysis: Foot and Ankle Devices Market
3.3.1. Porter's Five Forces Analysis
3.3.2. PESTLE Analysis
3.4. Covid-19 Impact Analysis
Chapter 4. Foot and Ankle Devices Market: Product Estimates & Trend Analysis
4.1. Foot and Ankle Devices Market, By Product: Key Takeaways
4.2. Foot and Ankle Devices Market: Method Movement & Market Share Analysis, 2022 & 2030
4.3. Bracing & Support
4.4. Joint Implants
4.5. Soft Tissue Orthopedic Devices
4.6. Orthopedic Fixation
4.7. Prosthetics
Chapter 5. Foot and Ankle Devices Market: Application Estimates & Trend Analysis
5.1. Foot and Ankle Devices Market, By Application: Key Takeaways
5.2. Foot and Ankle Devices Market: Application Movement & Market Share Analysis, 2022 & 2030
5.3. Hammertoe
5.4. Trauma
5.5. Osteoarthritis
5.6. Rheumatoid Arthritis
5.7. Neurological Disorders
5.8. Bunions
5.9. Osteoporosis
Chapter 6. Foot and Ankle Devices Market: Regional Estimates & Trend Analysis
6.1. Foot and Ankle Devices Market: Regional Movement Analysis, 2022 & 2030
For more information about this report visit https://www.researchandmarkets.com/r/8lfrp5
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