The Global Foot And Ankle Devices Market size is expected to reach $6.1 billion by 2028, rising at a market growth of 7.1% CAGR during the forecast period.
Many foot and ankle fractures brought on by ailments, including arthritis, diabetes, hammertoes, bunions, and other orthopedic illnesses, can be treated with foot and ankle devices. These medical tools can also replace an amputated or lost foot due to an accident, trauma, congenital abnormality, or any other reason. The foot and ankle devices comprise tools for joint replacement, arthrodesis, and internal fixation treatments that aid in ligament repair and restoration.
These devices assist weak muscles and lessen, stop, or restrict foot and lower leg motion to improve movement patterns. They are also used to maintain joint alignment, adapt deformity, and decrease spasticity. In order to protect the leg and foot, these devices are worn with socks and shoes. Such devices come in several shapes and materials, particularly if they are being developed for children and youngsters, they can be modified for use and growth. Since they are composed of thermoformed plastic, tweaks and changes are possible.
Rheumatoid arthritis (RA) affects roughly one percent of people worldwide, with women being affected at least twice as often as males. More than 23 million people are thought to have RA, according to the World Health Organization. Unfortunately, the way that patients with RA are currently receiving healthcare is not equipped to handle the predicted financial burden of the disease in the coming years. By 2030, the number of RA sufferers could double, according to experts. This will be due to the transition of the baby boom generation between age groups, a greater understanding of RA among professionals, and a somewhat increased incidence of RA is present in people over the age of 70.
Additionally, over 200 million people worldwide are thought to have osteoporosis. Recent data from the International Osteoporosis Foundation show that 1 in 3 women over 50 and 1 in 5 men will sustain an osteoporotic fracture during their lifetimes. Moreover, osteoporosis reduces life expectancy, lengthens lifespan after adjusting for disability, and places a significant financial load on the health insurance systems of the nations in charge of providing care for such individuals. The market for foot and ankle devices is therefore anticipated to expand rapidly.
Foot and ankle trauma patients decreased significantly during the pandemic. As a result, the need for foot and ankle devices decreased as hospitals turned their attention to the COVID-19 outbreak. As a result of being unable to focus on routine patients, orthopedics professionals suffered. The treatment of COVID-19 patients required the redeployment of medical personnel. The absence of hospital employees and operating infrastructure slowed market expansion. With constrained supply chains hindering the distribution of these devices and the decrease in treatments worldwide, the COVID-19 pandemic severely impacted the foot and ankle devices market.
Rheumatoid arthritis, osteoarthritis, and posttraumatic arthritis are the three main kinds of arthritis commonly affecting the foot and ankle. Mobility may be increased using a brace, like an ankle-foot orthosis (AFO). Moreover, using orthotics or specially constructed braces helps lessen pain and reduce pressure on the foot. Compared with standard goods, benefits, including increased efficacy, lower cost, more patient comfort, and convenience of use, are anticipated to increase the demand for these devices and thus benefit the foot and ankle devices market.
Patient volume, and surgical expertise, nations like China have also demonstrated vital indicators. The sector for 3D printed orthopedic devices is characterized by the inclusion of individualized prosthetics and metallic implants made of cobalt-chromium alloy, stainless steel, and alpha-beta titanium alloy (Ti-6Al-4V). Therefore, the strategic initiatives by key market participants and the higher acceptance of advanced technologies in the manufacturing of devices are propelling the expansion of the market.
Long-term usage of a brace can result in muscular atrophy and deconditioning of the ligaments, joints, and surrounding muscles. This is especially true if daily activities to reinforce the area are skipped. A decline in a joint's functional level, increased pain and discomfort in the joint without the support brace, and greater dependence on the brace for daily activities are all warning indications of wearing a brace for an excessively long time. These could be obstacles to the overall expansion of the foot and ankle devices market.
Based on product, the foot and ankle devices market is categorized into bracing & support, joint implants, soft tissue orthopedic devices, orthopedic fixation, and prosthetics. The bracing and supporting segment procured a considerable growth rate in the foot and ankle devices market in 2021. The rise of the segment is owed to the benefits of these devices. Devices worn around the foot and ankle, such as braces and supports, help to stabilize the joint by offering support. Injuries, including sprains, fractures, and tendinitis, are frequently treated with them. When a person is at risk of acquiring foot and ankle issues, braces can also be used to avoid injury.
On the basis of application, the foot and ankle devices market is divided into hammertoe, trauma, osteoarthritis, rheumatoid arthritis, neurological disorders, bunions, and osteoporosis. The osteoporosis segment garnered a remarkable growth rate in the foot and ankle devices market in 2021. Expansion of the segment is owed to the rising demand for support devices in most osteoporosis cases. Osteoporosis could predispose to particular ankle fractures, a mechanically tenable assumption. According to extensive epidemiological research, both men and women with high BMI have lower risks of fragility fractures and greater BMD.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 3.9 Billion |
| Market size forecast in 2028 | USD 6.1 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 7.1% from 2022 to 2028 |
| Number of Pages | 224 |
| Number of Table | 324 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the foot and ankle devices market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region acquired the highest revenue share in the foot and ankle devices market in 2021. The prevalence of a sizable senior population pool and the high frequency of sports and physical activity-related injuries are the primary causes of this region's big proportion. Almost 55.6 million adults in the US, or roughly 16.9% of the population, are 65 years of age or older, according to America's Health Rankings Senior Report.
Free Valuable Insights: Global Foot and Ankle Devices Market size to reach USD 6.1 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; DePuy Synthes (Johnson & Johnson) is the major forerunner in the Foot and Ankle Devices Market. Companies such as Enovis Corporation, Stryker Corporation, and Paragon 28, Inc. are some of the key innovators in Foot and Ankle Devices Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Stryker Corporation, DePuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, Ossur Hf., Enovis Corporation, Acumed LLC (Colson Medical, Inc.), Arthrex, Inc., Paragon 28, Inc. and Orthofix Medical, Inc.
By Application
By Product
By Geography
The global Foot and Ankle Devices Market size is expected to reach $6.1 billion by 2028.
Rising foot and ankle issues worldwide are driving the market in coming years, however, Severe side effects of foot and ankle devices restraints the growth of the market.
Stryker Corporation, DePuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, Ossur Hf., Enovis Corporation, Acumed LLC (Colson Medical, Inc.), Arthrex, Inc., Paragon 28, Inc. and Orthofix Medical, Inc.
The Orthopedic Fixation segment is leading the Global Foot And Ankle Devices Market by Product in 2021 thereby, achieving a market value of $2.1 billion by 2028.
The North America market dominated the Global Foot And Ankle Devices Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.6 billion by 2028.
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