Global foot and ankle devices market is expected to reach USD 6.46 Billion by 2022, growing at a CAGR of 7.4 % between 2017 and 2022.
The foot and ankle devices market report includes comprehensive and profound analysis on the global and regional level. The report gives historical data of 2014 along with a forecast from 2017 to 2022 based on revenue (USD Billion). The study comprises drivers, restraints, and opportunities for the foot and ankle devices market along with the impact on the demand over the forecast period.
The report provides a complete view of the foot and ankle devices market and encompasses detailed type portfolio and strategic developments of key vendors. To know the competitive landscape of the foot and ankle devices market, an analysis of Porter’s five forces model is done. The study cover market attractiveness analysis, in which type segments are specialized based on the market size, growth rate, and attractiveness.
The report provides a crucial view on the foot and ankle devices market by segmenting the market based on product, the cause of injury and region. Based on product the foot and ankle devices market is segmented into orthopedic implants and devices, prostheses and bracing and supporting devices. Orthopedic implants are further categorized into joint implants, fixation devices, and soft-tissue orthopedic devices. All the segments have been analyzed based on existing and future trends and the market is projected from 2017 to 2022. The regional segmentation includes the present and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including China, Japan, India, U.S. Germany, France, UK, and Brazil.
The report presents comprehensive competitive outlook with company profiles of the key players operating in the global market. Key participants profiled in the report include Stryker Corporation, Smith & Nephew PLC., Arthrex, Inc., Zimmer Biomet Holdings, Inc., Integra Lifesciences Holdings Corporation, Wright Medical Technology, Inc., Ossur, Tornier N.V., OrthoHelix and BioPro among others.
This report segments the foot and ankle devices market as follows:
Global Foot and Ankle Devices Market: Product Segment Analysis
Global Foot and Ankle Devices Market: Cause of Injury Segment Analysis
Global Foot and Ankle Devices Market: Regional Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Foot and Ankle Devices market. Zion Research has collected and analyzed key data belong to the global Foot and Ankle Devices market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Foot and Ankle Devices across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Foot and Ankle Devices industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Foot and Ankle Devices market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Global foot and ankle devices market is expected to witness a significant growth owing to increasing number of cases of sports injuries and road accidents. These kind of devices are used to help the patients in the conditions such as; an ankle arthritis without deformity, ankle fractures such as; lateral malleolus (fibula), medial malleolus, and/or the posterior malleolus, ankle fractures can also involve the articular surface of the tibia, known as pilon fractures, charcot foot and ankle (it is a progressive deformity that occurs with minimal trauma), cuboid fractures, lisfranc injury and etc. It helps the foot and ankle surgeons treat their patients more efficiently while enhancing patient care and the overall healthcare experience.
Major driving factors in the market are aging population, increasing incidences of sports injuries coupled with increasing acceptability for these kinds of devices. In addition, increasing prevalence of osteoporosis, rheumatoid arthritis and etc. is also projected to foster the growth in this market. Furthermore, increasing cases of road accidents, an expected global rise in prevalence of diabetes is also expected to fuel the market growth for foot and ankle devices in coming five years. However, high cost for some of the foot and ankle devices and lack of trained professionals are expected to hamper the growth in this market. In spite of these restraints, technological advancements and the introduction of biologics to treat foot and ankle disorders are expected as some of the opportunities in this market.
Foot and ankle devices market can be segmented on the basis of product cause of injury and region. On the basis of product, the foot and ankle devices market is segmented into orthopedic implants and devices, prostheses and bracing and supporting devices. Orthopedic implants are further categorized into joint implants, fixation devices, and soft-tissue orthopedic devices. This segment is projected to dominate by the orthopedic implants and devices and also expected to grow at the fastest rate within the forecast period.
Based on the cause of injury the foot and ankle devices market is segmented into trauma, neurological disorders, diabetes and others. The largest market share of this segment is expected to capture by the other types of injuries which include; osteoporosis, rheumatoid arthritis, osteoarthritis owing to the increasing prevalence of these kind of injuries. Trauma is expected to grow at a high CAGR during the forecast period.
North America is expected to account for the largest share of this market in the coming five years. Growth in this region for this market is attributed to a large number of sports injuries. For example, As per The American Journal Of Orthopedics, foot and ankle injuries are common in American football, with injury rates significantly increasing over the past decade. Epidemiologic studies of collegiate football players have shown an annual incidence of foot and ankle injuries ranging from 9% to 39% with as many as 72% of all collegiate players presenting to the National Football League (NFL) Combine with a history of a foot or ankle injury and 13% undergoing surgical treatment. In addition, high per capita healthcare expenditure and well-developed healthcare infrastructure are also expected to fuel the market growth for foot and ankle devices within the forecast period. Europe is expected to be followed by North America and is expected to gain the second largest share in this market within the forecast period.
Asia Pacific is expected to witness the fastest growth in this market in next five years. Growth in this region is expected to accelerate by increasing healthcare spending and increasing the aging population. In addition, increasing number of podiatrists in this region is also expected to make this region a lucrative market for foot and ankle devices in coming five years. Latin America and the Middle East & South Africa is also expected to show a positive growth in coming five years.
Some of the key players of foot and ankle devices market such as Stryker Corporation, Smith & Nephew PLC., Arthrex, Inc., Zimmer Biomet Holdings, Inc., Integra Lifesciences Holdings Corporation, Wright Medical Technology, Inc., Ossur, Tornier N.V., OrthoHelix and BioPro among others.