Foot & Ankle Devices Market is expected to reach US$ 4,084.97 Mn by 2027

Trauma Segment to Grow at Faster CAGR during 2018–2027

According to our new research study on “Foot & Ankle Devices Market Forecast to 2027- Global Analysis by Product, Application” the market is expected to reach US$ 4,084.97 million in 2027 from US$ 2,038.24 million in 2018; it is estimated to grow at a CAGR 8.1% from 2019 to 2027. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the global foot & ankle devices market is attributed to the increasing incidences of sports injuries, growing incidents of road accidents and increase in the number of orthopedic surgeries. However, lack of reimbursement for orthopedic procedures is the major factor hindering the market growth.

Based on application, the global foot & ankle devices market is segmented into trauma, osteoarthritis, osteoporosis, rheumatoid arthritis, and hammertoe. In 2018, the trauma segment held largest share of the market. Also, the same segment is expected to register the highest CAGR during the forecast period. Rising number of road accidents and sports activities offer lucrative opportunities for the growth of trauma segment.

The global foot & ankle devices market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Smith & Nephew, Wright Medical group N.V, Stryker, Anthrex Inc., Zimmer Biomet, Ossur, Integra Lifesciences Corporation, J&J (Depuy Synthes), Acumed, LLC and Extremity Medical, LLC are among the leading companies operating in the foot & ankle devices market.

Foot & Ankle Devices Market, by Region, 2019 (%)

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Foot & Ankle Devices Market Research Report by 2027

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Foot & Ankle Devices Market to 2027 - Global Analysis and Forecasts by Product (Joint Implants, Prostheses, Braces & Support, and Fixation Devices), Application (Trauma, Osteoarthritis , Osteoporosis , Rheumatoid Arthritis, and Hammertoe) and Geography

The report segments foot & ankle devices market as follows:

By Product

• Joint Implants

• Ankle and Subtalar Implants
• Phalangeal Implants

• Prostheses

• Dynamic Response
• Microprocessor Controlled
• Solid Ankle Cushion Heel
• Single and Multi Axial

• Braces & Support

• Hinged Braces
• Soft Braces

• Fixation Devices

• External Fixation Devices

• Unilateral
• Ring Ankle
• Hybrid

• Internal Fixation Devices

• Screws and Nails
• Plates

By Application

• Trauma
• Osteoarthritis
• Osteoporosis
• Rheumatoid Arthritis (RA)
• Hammertoe

  By Geography

• North America
  • • US
    • Canada
    • Mexico
• Europe
  • • France
    • Germany
    • UK
    • Spain
    • Italy
    • Rest of Europe
• Asia Pacific (APAC)
  • • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of APAC
• Middle East & Africa (MEA)
  • • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
• South and Central America (SCAM)
  • • Brazil
    • Argentina
    • Rest of SCAM