Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) — The “Foot And Ankle Devices Global Market Report 2022” report has been added to ResearchAndMarkets.com’s an offer.
The global foot and ankle device market is expected to grow from $4.60 billion in 2021 to $5.10 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The foot and ankle devices market is expected to grow to $6.77 billion in 2026 at a CAGR of 7.4%.
The main types of products in foot and ankle devices are orthopedic implants and devices, bracing and support devices, and prostheses. A prosthesis is an artificial device that is used to replace or augment an impaired or missing body part. This prosthesis applies to any artificial limb, regardless of whether it is an upper limb or a lower limb. They are divided by the cause of injury, such as trauma, diabetes, neurological disorders, others, and are used by hospitals, ambulatory surgery centers, orthopedic clinics, rehabilitation centers, others.
North America was the largest region in the foot and ankle devices market in 2021. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the foot and ankle devices market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The increasing rates of orthopedic disorders are expected to propel the growth of the foot and ankle devices market. Orthopedic disorders are diseases affecting the musculoskeletal system that damage muscle and bone tissues, including bones, cartilage, ligaments, tendons and connective tissues. Foot and ankle devices are used to address various types of fusions, fractures, and osteotomies in the forefoot, midfoot, and hindfoot, increasing market growth . For example, according to the World Health Organization, a government agency based in Switzerland, musculoskeletal diseases affected 1.71 billion people worldwide in 2021, making them the leading cause of disability. In addition, there are 568 million people who have suffered from low back discomfort. Thus, increasing incidence rates of orthopedic disorders are driving the growth of the foot and ankle devices market.
Product innovations have emerged as a major trend gaining popularity in the foot and ankle market. Companies operating in the foot and ankle market are undergoing new product innovations to gain competitive advantage.
For example, in September 2020, Stryker Corporation, a US-based medical technology company launched AxSOS 3 Ankle Fusion System. It is a titanium ankle fusion plate system that helps to fuse the tibiotalar joint. ASOS 3 Ankle Fusion System was developed with the help of Stryker’s proprietary orthopedic design and development system technology.
|No. of Pages||175|
|Forecast Period||2022 – 2026|
|Estimated Market Value (USD) in 2022||$5.1 billion|
|Projected Market Value (USD) to 2026||$6.77 billion|
|Compound Annual Growth Rate||7.3%|
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1) By Product: Bracing and Support Devices; Prosthesis
2) By Cause of Injury: Trauma; Diabetes; Neurological Disorders; Other Causes
3) By End User: Hospitals; Ambulatory Surgery Centers; Orthopedic Clinics; Rehabilitation Centers; Other end users
A selection of companies mentioned in this report includes
- AAP Implantate Ag
- Acumed LLC
- Advanced Orthopedic Solutions
- Arthrex Inc.
- Biomet Inc.
- Conmed Corporation
- DePuy Synthes Companies
- DonJoy Inc.
- Extremity Medical LLC
- Fillauer LLC
- Groupe Fh Ortho (Subsidiary of Olympus Corporation)
- Integra LifeSciences Holdings Corporation
- Medartis Inc.
- Mondeal Medical Systems GmbH.
- Ortho Solutions UK Ltd
- Orthofix Medical Inc.
- Ossur HF
- Ottobock Healthcare AG
- Smith & Nephew PLC.
- Stryker Corporation
- Turner NV
- Vilex in Tennessee Inc.
- Wright Medical Technology Inc.
- Zimmer Biomet Holdings Inc.
For more information on this report visit https://www.researchandmarkets.com/r/6ismdq-and-ankle?w=12
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Global Foot and Ankle Devices Market