February 8th, 2022 DelveInsight Business Research Releases

Global Foot and Ankle Devices Market was valued at USD 5.52 billion in 2020, growing at a CAGR of 7.66% during the forecast period (2021-2026), it is anticipated to hit USD 8.58 billion by 2026.

Some of the leading factors, such as the rising prevalence of bone-related disorders, the increasing geriatric population, the rising number of accident & trauma cases, and the rising number of sports-related injuries, among others, are expected to drive the market growth. Globally, some of the prominent Foot and Ankle Devices Companies with their products in various stages of development include DePuy Synthes (Johnson and Johnson), Stryke, Zimmer Biomet, Smith and Nephew, Medartis AG, Acumed, Orthofix Medical Inc., and others.

DelveInsight’s “ Global Foot and Ankle Devices Market Insights and Forecast” Report provides the current and forecasted market trends for the next five years, upcoming innovation in the devices, individual market shares, challenges, drivers & barriers, and key competitors in the market. 

In the year 2020, approximately 1.71 billion people globally were suffering from musculoskeletal conditions & lower back pain, asserts World Health Organization (2021). As per Global Rheumatoid Arthritis Network (2021), more than 350 million people had suffered from arthritis globally. To overcome the challenges of Foot and Ankle disorder/conditions, various devices are available in the market are actively working to cater to the various needs.  

Foot and ankle devices come in different forms and sizes to serve the diverse needs of the user. The devices are used in the treatment of indications such as hallux rigidus, arthritis, Lisfranc fractures, and pes planus (flat feet). Foot and ankle devices are used for ankle joint, hindfoot, midfoot and forefoot, and toe digits. 

Some of the major ankle devices used for the treatment of arthritis and traumatic ankle injuries include total ankle replacements, ankle intramedullary nails, ankle plates, screw systems, and ankle external fixators. Additionally, the devices can also be employed in the replacement of the lost foot due to trauma, amputation, congenital deformity, or any other accident. 

As per DelveInsight, owing to the increasing prevalence of musculoskeletal conditions & arthritis, in the coming years there will be an increase in the overall demand for foot and ankle devices, thereby contributing to the market growth for these devices.

Get more detailed insights, at Foot and Ankle Devices Applications and Product Type

In terms of revenue share North America currently leads the global market and is expected to dominate the segment during the forecast period, estimates DelveInsight. In the United States, according to the Centers for Disease Control and Prevention (2020), approximately 63 million people had suffered from arthritis, which is estimated to rise to 78 million by the year 2045. Further, according to the International Osteoporosis Foundation (2021), it is estimated that in the year 2020, around 75 million people in the United States had osteoporosis. 

The major factors contributing to the dominance of North America in the Foot and Ankle Devices segment include the high prevalence of arthritis, rising population of people suffering from osteoporosis, ascending product launch pattern, and a well-established reimbursement scenario for foot and ankle devices in the region. Additionally, the prompt and well-established healthcare services and infrastructure contributes to the growth of the regional market. 

Moreover, it is observed that the presence of Foot and Ankle Devices key players in the region is relatively high; the major factor is being the supportive reimbursement programs which provide immense growth opportunities for revenue and demand.

Further, the Asia-Pacific region is also expected to show immense growth during the forecast period, owing to the increase in sport-related injuries cases, higher susceptibility to foot and ankle disorders such as arthritis, osteoarthritis, and others, the rising geriatric population, improving healthcare infrastructure, among several other factors.

Interested in knowing how the Foot and Ankle Devices Market will be growing by 2026? Click to get a snapshot of Foot and Ankle Devices Market Outlook

In recent years, the Foot and Ankle Devices Market observed expansions in terms of clinical, commercial, and clinical development. Here are some of the major breakthroughs in the segment –

As per DelveInsight, owing to the ongoing commercial and clinical development, there will be rapid growth in the Foot and Ankle Devices Market during the forecast period.

Foot and Ankle Devices is one of the most competitive domains in the MedTech segment, drawing significant attention from the key players. Globally, some of the key Foot and Ankle companies in the Market include Acumed, Advanced Orthopaedic Solutions, Allard USA Inc., College Park Industries, CONMED Corporation, Corin Group, DePuy Synthes (Johnson and Johnson), Fillauer LLC, Globus Medical, JEIL MEDICAL CORPORATION, Medartis AG, MedShape Inc, Orthofix Medical Inc., OsteoMed, OTTOBOCK., Paragon 28 Inc., Roadrunnerfoot Engineering Srl., Smith and Nephew, Stryker, Zimmer Biomet, and Others.

Moreover, several new companies are also expected to enter the market in the coming years which is anticipated to transform the Foot and Ankle’s Competitive Landscape immensely. 

Like other sectors, the  COVID-19 pandemic had a deep impact on the healthcare sector, including elective and non-urgent surgeries across the countries. The demand for Foot and Ankle Devices is primarily affected by the outbreak of the COVID-19 pandemic. The government imposed lockdowns to curb the spread of the virus leading to restrictions in movement and a decrease in regular check-ups. The Covid-19 precautionary measures have an impact on the surgeries and the demand for Foot and Ankle Devices as well. 

However, as the situation is improving with the increasing vaccination number, rising awareness among the general population, the relief in lockdowns, healthcare services are expected to get on track and also anticipated to boost the demand for Foot and Ankle Devices.

To discuss more regarding the short/long-term impact of COVID-19, get a snapshot of the report Foot and Ankle Devices Market Assessment

Foot and Ankle Devices are one of the fastest-growing segments in the MedTech Industry, however, there are certain challenges in the segment that may hamper the growth. Visit, to get a deeper understanding of the Regulatory and Patent Analysis in the Foot and Ankle Devices Market.

Key Takeaways From the Foot and Ankle Devices Market Report Study

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