Foot And Ankle Devices Market Size will expand significantly from 2022 to 2028 owing to the usage of bioresorbable implants and technological advancements. A notable surge in road accidents, sports injuries and cases of diabetes will boost the demand for ankle devices.
Foot and ankle devices are used in the treatment of injuries caused by diseases or disorders, including diabetic foot, rheumatoid arthritis, bunions, osteoarthritis and other conditions, such as neurological disorders. The easy availability of advanced medical devices and surge in sports activities across North America, Asia Pacific, and Europe are expected to foster the demand for foot and ankle devices.
In terms of devices, soft-tissue orthopedic devices could account for a considerable share of global foot and ankle devices market over 2022-2028. A notable surge in diabetes and the adoption of advanced orthopedic devices are expected to drive the industry growth. Industry players are likely to boost their investments following the demand for musculoskeletal reinforcement devices and artificial tendons and ligaments.
Based on application, global foot and ankle devices market share from hammertoe will grow on account of rising forefoot deformities. Industry participants expect a surge in the number of hammertoe surgeries for the treatment of orthopedic forefoot deformities. Besides, surgical procedures are likely to be noticeable for hammertoe correction. Given the prevalence of hammertoe and its accompanying bunion, industry players are likely to expand their footprint across untapped areas.
With respect to region, North America foot and ankle devices market outlook will be strong owing to the presence of leading companies and involvement of children and youth in sports. According to the National SAFE KIDS Campaign and the America Academy of Pediatrics, over 3.5 million children aged 14 and younger get hurt playing or participating in sports and recreational activities in the U.S. A surge in physical activity among both adults and children has furthered the demand for foot and ankle devices.
Global foot and ankle devices market share will be propelled by the presence of leading companies, including Extremity Medical LLC., Zimmer Biomet Holdings, Inc., Stryker Corporation, Integra LifeSciences Holdings Corporation, Smith & Nephew plc, Arthrex, Inc., Tornier N.V., Acumed LLC., Wright Medical Technology Inc. and Integra LifeSciences Holdings Corporation, among others. The competitive scenario suggests these companies could invest in organic and inorganic strategies.
In September 2020, Stryker Corporation announced the rollout of an ankle fusion system AxSOS 3 for the fusion of tibio-talar joint. It could provide surgeons with a user-friendly, dependable and intuitive technology solution.
With hospitals shifting their focus towards preparing to overcome the COVID-19 pandemic, there had been a considerable dip in the demand for foot and ankle devices. Given the shortage or non-availability of hospital staff and operation facilities, the number of orthopedic and trauma surgeries plunged. Meanwhile, bullish government policies and a surge in healthcare budgets have encouraged leading companies to invest in foot and ankle devices.
Major companies are expected to expand their penetration for higher efficacy and better affordability for the treatment of a host of foot and ankle deformities and disorders. the emergence of advanced products and various treatment modalities will foster the global outlook.
Market, by Devices
Market, by Application
Market, by End-use
The above information is provided for the following regions and countries: