Foot and Ankle Devices Market 2023 Highlights, Recent Trends, Market Growth And Opportunities Till 2032
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Increase in foot and ankle injuries owing to sports and accidents is a significant factor driving global foot and ankle devices market revenue growth
VANCOUVER, B.C., CANADA, April 7, 2023 /EINPresswire.com/ -- The global foot and ankle devices market size is expected to reach USD 8.30 Billion in 2032 and register a steady revenue CAGR of 6.4% during the forecast period, according to the latest analysis by Emergen Research. A significant factor driving market revenue growth for foot and ankle devices is the rise in the number of foot and ankle disorders, including osteoarthritis, fractures, and sprains, that require medical treatment through methods such as surgery, orthotics, and bracing.
The increasing aging population, which is more susceptible to these conditions, further raises the demand for foot and ankle devices. In addition, improvements in technology and the materials used to manufacture these devices have enhanced their comfort, longevity, and effectiveness, resulting in a growing preference for these products.
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A key factor restraining the foot and ankle devices market is the high cost of these devices, which can be a barrier to their widespread adoption, particularly in developing countries. The high cost of production and the need for specialized training to use these devices are other factors that contribute to the high cost. In addition, reimbursement policies for foot and ankle devices vary significantly across regions, leading to uncertainty for manufacturers and suppliers, which can limit investment and growth in the market.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Foot and Ankle Devices market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Some major companies in the market report include DePuy Synthes Companies, Stryker, Zimmer Biomet, Smith+Nephew, Arthrex, Inc., Össur, DJO, LLC, Integra LifeSciences, CONMED Corporation, Orthofix US LLC.
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Some Key Highlights From the Report
On 20 January 2021, the producer of orthopedic foot and ankle implants, Trilliant Surgical, was purchased by DJO for an undisclosed sum. The Dallas-based DJO, a division of Colfax, plans to use the purchase to enhance its entry into the U.S. foot and ankle industry, which is seeing rapid development and is estimated to be worth USD 1 billion by the organization.
The orthopedic implants and devices segment is expected to account for the largest revenue share during the forecast period owing to rising demand for effective and efficient treatment options for foot and ankle conditions. A variety of orthopedic implants and devices have been developed as a result of the rising prevalence of these disorders and technological development to restore function, lessen discomfort, and enhance the patient's overall prognosis. The introduction of fresh, cutting-edge goods such as patient-specific implants and smart ankle replacements is driving revenue growth of the segment.
The trauma & hairline fractures segment is expected to account for the largest revenue share during the forecast period. There is rising demand for foot and ankle devices as a result of the prevalence of trauma and hairline fractures in the foot and ankle region. The prevalence of sports-related injuries is rising, and the aging population is also contributing to this trend by making individuals more susceptible to such accidents.
Market Overview:
The report bifurcates the Foot and Ankle Devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Emergen Research has segmented the global foot and ankle devices market on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2023–2032)
Orthopedic Implants and Devices
Bracing and Support Devices
Prostheses
Application Outlook (Revenue, USD Billion; 2019–2032)
Trauma & Hairline Fractures
Rheumatoid Arthritis & Osteoarthritis
Diabetic Foot Diseases
Ligament Injuries
Neurological Disorders
Hammertoe
Others
End-Use Outlook (Revenue, USD Billion; 2019–2032)
Hospitals
Ambulatory Surgery Centers
Orthopedic Clinics
Rehabilitation Centers
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The latest report on the global Foot and Ankle Devices market offers strategic insights into the market landscape to stakeholders, investors, and business owners to help them make efficient and lucrative business decisions based on key statistical data and facts. The report aims to offers a thorough outlook of the Foot and Ankle Devices market based on various key elements, such as market drivers, limitations, threats, restraining factors, and growth prospects. The report aims to deliver a comprehensive understanding of the Foot and Ankle Devices market growth and expansion in each key region of the world. It offers accurate estimations about the expected market size and growth over the projected timeline of 2023-2032.
Foot and Ankle Devices Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Highlights of Table of Contents (TOC):
Overview of Global Foot and Ankle Devices Market
Competitive analysis of the Foot and Ankle Devices market
Regional analysis of Global Foot and Ankle Devices market production and revenue
Regional analysis of Global Foot and Ankle Devices market supply, consumption, and export & import
Type-based market analysis of global Foot and Ankle Devices production, revenue, and price trends
Application-based analysis of the global Foot and Ankle Devices market
Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Foot and Ankle Devices market
Global Foot and Ankle Devices market forecast (2023-2032)
Conclusion of the research report
Appendix
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