Foot and Ankle devices Market Expected to Reach USD 6.689 billion by 2028 | Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-06-08  

     

As per Business Intelligence Insights (BII) study, the Global Foot and Ankle devices Market attained revenue growth of USD 4.10 billion in 2021 and it is projected to reach around USD 6.689 billion by 2028, growing at a 8.50% CAGR.

Foot and ankle devices provide various advantages, including lower cost, improved efficacy, more patient comfort, and ease of use. Also, prominent companies are increasingly focused on the development of specific solutions to treat a wide variety of foot and ankle disorders and deformities, as well as to fulfill the unmet market needs.  The greater product affordability and market availability will assist in the expansion of the market. However, the danger of surgical site infection is expected to hinder the market expansion over the upcoming years.

In addition, as professional sporting activities have grown in popularity, so have sports-related injuries. Ankle sprains are the most prevalent injury worldwide. Approvals received by products from regulatory bodies associated with the treatment of forefoot conditions expected to fuel growth of the market. Furthermore, key companies are increasingly focusing on the development of specialist goods for the treatment of a variety of foot and ankle illnesses and deformities, as well as to answer the growing need for specialty products.

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Foot and Ankle devices Market: Companies Mentioned

•    Deputy Synthes Companies (US)
•    Stryker Corporation (US)
•    Zimmer Biomet Holdings, Inc (US)
•    Smith & Nephew plc (UK)
•    Arthrex Inc (US)
•    Integra Life Sciences Holdings Corporation (US)
•    DJO Finance, LLC (US)
•    CONMED Corporation (US)
•    Assur HF (Iceland)
•    Orthotic Medical Inc. (US)
•    Midrates AG (Switzerland)
•    Acumen LLC (US)
•    Extremity Medical (US)
•    asap Implant ate AG (Germany)
•    Otto bock SE & Co. Kagan (Germany)
•    Ortho Solutions UK Ltd. (UK)
•    Vile in Tennessee, Inc. (US)
•    Advanced Orthopedic Solutions (US)
•    Filature LLC (US)
•    Groupe FH Ortho (France) Olympus Corporation
•    Ethicon Endo-surgery LLC
•    Others

Key Highlights of the Report

•             Orthopedic implants and devices as a product led the foot and ankle device market in 2021 with the significant share of 46.8% in the market, Joint surgeries, fixation devices, and soft tissue surgical instruments are among the surgical instruments and devices available. In 2019, the musculoskeletal implants and devices sector led the market for foot and ankle devices. The segment is expected to expand due to rising diabetes incidences, new product launches, and increased acceptance of branded exoskeletons and implants in emerging nations due to better quality and lower risk of surgical site infection.

•             Foot and ankle device come in a variety of forms, including hospitals, ambulatory surgery centers, orthopedic clinics and rehabilitation centers and other applications. Hospital segment dominated the market with the highest revenue share of 54.7% and the large target patient population base (especially in emerging countries) preferring hospitals, the growing procedural volume in hospital settings, the rising emphasis on effective and early disease diagnosis in hospital settings, and the high budget of hospitals for introducing various technologically advanced foot and ankle devices products are all factors contributing to this segment.

•             The North America foot and ankle device market increased rapidly in both developed and developing countries and accounted for the highest share of more than 47% of the global revenue due to owing to the presence of leading companies and involvement of children and youth in sports. Increased incidence of osteoporosis, rising demand for minimally invasive operations, and well-established healthcare infrastructure are the key drivers of market expansion in North America. The growing economies of India and China are expected to be notable contributors in this region.

•             The report contains qualitative and quantitative research on the global foot and ankle device Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

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Revenue-generating Segment Highlights:

By Product

•    Orthopaedic Implants and Devices
•    Bracing and Support Devices
•    Prostheses

By Application

•    Trauma & Hair line Fractures
•    Rheumatoid Arthritis & Osteoarthritis
•    Diabetic Foot Diseases
•    Ligament Injuries
•    Neurological Disorders
•    Hammertoe
•    Others

By End User

•    Hospitals  
•    Ambulatory Surgery Centres
•    Orthopaedic Clinics
•    Rehabilitation Centres 
•    Endoscope
•    Foot and ankle device Visualization Systems

By Application

•    Gastrointestinal (GI) endoscopy
•    Laparoscopy
•    Obstetrics/gynaecology endoscopy
•    Arthroscopy
•    Urology foot and ankle device(cystoscopy)
•    Bronchoscopy
•    Mediastinoscopy
•    Otoscopy
•    Laryngoscopy
•    Other applications

By End-use 

•    Hospitals
•    Ambulatory surgery centres
•    Another end uses

By Region
•    North America

o    U.S.
o    Canada
•    Europe 
o    Germany
o    U.K.
o    France
o    Italy
o    Spain
o    Rest of Europe
•    Asia Pacific 
o    China
o    India
o    Japan
o    Rest of Asia Pacific
•    Latin America 
o    Brazil
o    Mexico
o    Rest of Latin America
•    Middle East and Africa 
o    UAE
o    South Africa
o    Rest of Middle East and Africa (MEA)

Ready to generate outstanding revenue opportunities with 'Business Intelligence Insights (BII)’ exclusive Foot and Ankle devices market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –

• What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
• What is the current trend taking place in the market space?
• What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
• What market drivers, restraints, and challenges are influencing market demand and growth?
• In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?

The Foot and Ankle devices Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analyzed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Foot and Ankle devices Market Forecast Report 2022- 2028 - Order Now!

About Us

Business Intelligence Insights is the global provider of market intelligence, consultancy services, and syndicated & customized reports. We are focused on assisting business leaders and suppliers in making decisions by providing timely and insightful market research and consulting services. We offer global, regional expertise in technology, industry, opportunities, trends, industry analysis, market data, and strategic guidance. Our analysis and insight help business professionals, executives, and investors make fact-based technology decisions and achieve their key business objectives. Our reports are featured with distinct research approaches, rigorous methodologies, and comprehensive sector coverage.

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