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, May 5, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the size of the worldwide foot and ankle devices market is anticipated to reach USD 8.30 billion in 2032 and exhibit a consistent revenue CAGR of 6.4% over the projected period.
The increase in foot and ankle problems requiring medical treatment through procedures like surgery, orthotics, and bracing, including osteoarthritis, fractures, and sprains, is a significant driver driving market revenue growth for foot and ankle devices. The demand for foot and ankle devices is further increased by the ageing population, which is increasingly prone to these ailments. These items are becoming more and more popular as a consequence of advancements in technology and the materials used to make them, which have improved their comfort, robustness, and effectiveness.
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The high price of these devices, which can be a barrier to their widespread acceptance, particularly in developing countries, is a major factor constraining the market for foot and ankle devices. Other elements that contribute to the high cost are the high cost of production and the requirement for specialised training to use these devices.
Target Audience of the Global Foot and Ankle Devices Market Report:
Key Market Players
Investors
Venture capitalists
Small- and medium-sized and large enterprises
Third-party knowledge providers
Value-Added Resellers (VARs)
Global market producers, distributors, traders, and suppliers
Research organizations, consulting companies, and various alliances interested in this sector
Government bodies, independent regulatory authorities, and policymakers
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Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Foot and Ankle Devices market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years.
Some major companies in the global foot and ankle devices market report include DePuy Synthes Companies, Stryker, Zimmer Biomet, Smith+Nephew, Arthrex, Inc., Össur, DJO, LLC, Integra LifeSciences, CONMED Corporation, Orthofix US LLC.
Some Key Highlights From the Report
Trilliant Surgical, a manufacturer of orthopaedic foot and ankle implants, was acquired by DJO on January 20, 2021, for an unknown sum. The Dallas-based DJO, a branch of Colfax, intends to use the acquisition to strengthen its entry into the rapidly growing U.S. foot and ankle market, which is estimated by the company to be worth USD 1 billion.
Due to the rising demand for effective and efficient treatment options for foot and ankle conditions, the orthopaedic implants and devices segment is anticipated to contribute the largest revenue share during the forecast period. In order to restore function, minimise suffering, and improve the patient's overall prognosis, numerous orthopaedic implants and devices have been developed as a result of the increased prevalence of these conditions and technological advancement. The segment's revenue is growing as a result of the launch of novel, cutting-edge products including patient-specific implants and smart ankle replacements.
The sector for trauma and hairline fractures is anticipated to have the highest revenue share during the forecasted period. The prevalence of injuries and hairline fractures in the foot and ankle region has led to an increase in demand for foot and ankle devices. The frequency of sports-related injuries is increasing, and this trend is partly influenced by the ageing population, which makes people more prone to such mishaps.
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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
Regional Outlook (Revenue, USD Billion; 2023–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA
Key Benefits For Stakeholders:
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