Foot And Ankle Devices Market Size, Share, Growth Report 2030

Market Overview    

The global Foot and Ankle Devices market accounted for USD 5.0 Billion in 2020 and is expected to reach USD 9.1 Billion by 2028, growing at a CAGR of around 7.7% between 2021 and 2028.   

Foot and ankle devices are used to treat injuries and problems in the foot and ankle region, either surgically or non-surgically. Diabetic foot, arthritis, bunions, hammertoes, and other orthopaedic diseases can cause injuries which can be cured by using foot and ankle devices. These devices can also be utilised to replace a foot that has been lost due to a congenital abnormality, trauma, amputation, or any other type of injury. Accidents can also cause injuries or wounds near the foot and ankle region.

Increasing road accidents and growing number of diabetic patients is expected to drive the global market further. Increased knowledge of such machines, improved healthcare infrastructure, and an increase in the frequency of sports-related injuries are all contributing to the growth of the foot and ankle device market.  

COVID-19 Impact Analysis

Many countries across the world imposed strict lockdowns to control the spread of Covid-19 and as a result, people had to stay indoors which has lead to no movement on the roads and very less accidents happening everywhere in the world. This has impacted in Foot and Ankle Devices negatively. Various sports events such as Summer Olympics 2020 organized in Tokyo are postponed as a result of covid-19 pandemic across countries. However in the midst of pandemic, diabetic patients have to take care of themselves and hence the foot and ankle devices market will not have a major impact but the slight decline in revenue can be seen. The lockdowns are getting lifted in the countries and traveling of people is being allowed and this can have a positive effect on Foot and Ankle Devices market. The market will remain positive as things are getting back to normal.

The significant increase in the global Foot and Ankle Devices market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

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Growth Factors

Rising sports involvement, the frequency of road accidents, and more healthcare awareness are all driving the worldwide Foot and Ankle Devices market forward. The rising prevalence of diabetes, along with the need for important operations that result in the removal of foot-ankle with significant sores, is expected to drive demand for these devices, boosting the foot and ankle device market. Increased knowledge of such machines, improved healthcare infrastructure, and an increase in the frequency of sports-related injuries are all contributing to the growth of the foot and ankle device market. In the coming years, the worldwide Foot and Ankle Devices market is expected to rise due to the strong expansion of healthcare infrastructure and increased government funding.

The market's growth is expected to be hampered by high product costs and a lack of customer understanding.

Report Scope: 

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Product Segment Analysis Preview 

On the basis of product, the foot and ankle devices market is divided into prostheses, orthopedic implants, and bracing & supporting gadgets. Fixation devices, joint implants, and soft-tissue orthopaedic machines are the three types of orthopaedic implants. Orthopedic implants are predicted to dominate this section of the foot and ankle devices market in the coming years, as well as develop at the fastest rate.

Cause of Injury Segment Analysis Preview 

Based on applicaton, the market is segmented into Trauma, Neurological Disorders, Diabetes and others. This division is likely to be ruled by other kinds of injuries such as rheumatoid arthritis, osteoporosis, and osteoarthritis due to the rising occurrence of these types of injuries paired with the rising old population.

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Key Market Players & Competitive Landscape

Some of the major players of global Foot and Ankle Devices market includes 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  amongst others

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The global Foot and Ankle Devices Market is segmented as follows:

By Product

• Orthopedic Implants and Devices
  • Joint Implants
  • Fixation Devices
  • Soft-Tissue Orthopedic Devices
• Prostheses
• Bracing and Supporting Devices

By Cause of Injury

• Trauma
• Neurological Disorders
• Diabetes
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa