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The Foot and Ankle Devices Market is segmented by Device Type, Procedure, and Geography.
2018 - 2026
Fastest Growing Market:
Certain factors that are driving the growth of the market include the increasing number of sports injuries and road accidents, rising incidences of diabetes and foot-related disorders, and technological developments, such as automatic foot and ankle devices.
Injuries for foot and ankle is also more common in road accidents. The growing burden of road accidents globally is creating the demand for advanced medical devices for the treatment and fixation. According to the Global Burden of Disease Study 2017 Report, the number of Years lived with disability (YLDs) due to road injuries was high in Australia with 245.53 YLDs per 100,000 population, followed by China 202.75 YLDs per 100,000 population, and Japan 182.09 YLDs per 100,000 population. The number of cases of road injuries in Asia is high which ultimately drives the market.
However, the high cost of the foot and ankle devices and lack of sufficient reimbursement policies for the surgeries are major restraining factors for the growth of market. Furthermore, orthopedic procedures including foot and ankle replacement and fixation represent a large expense to the health insurers globally.
Foot and ankle devices are used in the treatment of injuries that are caused by diseases or disorders, such as osteoporosis, rheumatoid arthritis, osteoarthritis, diabetic foot, bunions, hammertoes, and several other conditions, like trauma and neurological disorders.
|Ankle Replacement Devices|
|External Fixation Devices|
|Biologics and Implants|
|Other Device Types (Staples, Osteotomy Wedges, Fusion Nail Systems, etc.)|
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Foot and Ankle fractures mostly result from the trauma or direct injury to the bone. The availability of the advanced medical devices and growing number of ankle and foot fractures are expected to boost the segment growth. According to some studies, 10% of the overall fractures occur in the 26 foot bones. Fractures are the most common foot injuries evaluated by primary care physicians, which involve toe and metatarsal fractures.
Furthermore, the market players in foot and ankle devices are advancing the device technologies, launching new products, further fueling the segment growth. Moreover, the advent of the 3D printed implants helps the physicians to customize the implants and fixation systems for accurate fracture fixation. For instance, In January 2019, Additive Orthopedic Solutions has announced the regulatory clearance for its Patient-Specific 3D Printed Locking Lattice Plates indicated for alignment, stabilization, and fusion of fractures, osteotomies and arthrodesis of small bones such as the foot and ankle
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In the United States, around 75-80% of children and youth are actively involved in sports. Around 4-5 million of these children and youth undergo minor foot and ankle injuries. Much significance is attributed to the proper functioning of ankles, feet, legs, elbows, etc. Thus, there is a rise in the sales of ankle and foot devices. These devices are in major demand in the United States. Some of the USFDA cleared and approved total ankle replacement devices are INBONE Total Ankle System, Salto Talaris Total Ankle Prosthesis, Scandinavian Total Ankle Replacement (STAR), and Trabecular Metal Total Ankle Replacement.
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The foot and ankle devices market is highly competitive, and consists of a few major players. Companies, like Acumed, Arthrex, Depuy Synthes, Integra Lifesciences Corporation, Smith & Nephew, Stryker, Wright Medical Group NV, and Zimmer Biomet, among others, hold substantial shares in the foot and ankle devices market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Sports Injuries and Road Accidents
4.2.2 Rising Incidences of Diabetes and Foot-related Disorders
4.2.3 Technological Advances in Foot and Ankle Surgeries
4.3 Market Restraints
4.3.1 Stringent Regulatory Guidelines
4.3.2 Huge Cost and Lack of Reimbursement for Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Device Type
5.1.1 Ankle Replacement Devices
5.1.2 External Fixation Devices
5.1.6 Biologics and Implants
5.1.7 Other Device Types (Staples, Osteotomy Wedges, Fusion Nail Systems, etc.)
5.2.2 Fracture Repair
5.2.3 Fusion Procedures
5.2.4 Other Procedures
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.3 Depuy Synthes
6.1.4 Integra Lifesciences Corporation
6.1.5 Smith & Nephew
6.1.7 Wright Medical Group NV
6.1.8 Zimmer Biomet
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments