Dublin, Sept. 03, 2021 (GLOBE NEWSWIRE) -- The "Global Foot & Ankle Devices Market, By Product Type (Fixation Devices, Prosthesis, Joint Implants, Soft Tissue Orthopedic Devices, Bracing & Support Devices), By Procedure, By Application, By End User, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Foot & Ankle Devices Market stood at USD4170.33 million in 2020 and is expected to grow at a CAGR of 6.00% and reach USD5781.28 million by 2026.
This can be ascribed to the growing geriatric population suffering from diseases such as osteoporosis, arthritis, among others. Additionally, growing incidences of road accidents, spinal injuries, accidents during sports activities, among others are further expected to spur the market growth over the next few years.
Furthermore, growing industrialization has led to an increase in the number of factories and industries, requiring manual labor to perform various tasks. A lot of accidents are being witnessed in these industries and factories. This in turn is expected to fuel the market growth during the forecast period.
Advantages such as low cost, high effectiveness, increased patient convenience, ease of use, among others associated with foot & ankle devices are expected to drive the market growth over the next few years. Besides, increasing investments and new product launches by various players operating in the market is expected to create lucrative opportunities for the market growth through 2026.
The Global Foot & Ankle Devices Market is segmented by product type, procedure, application, end-user, competitional landscape, and regional distribution. Based on procedure, the market can be categorized into fracture repair, osteotomy, fusion procedures and others.
The fracture repair segment dominated the market in 2020 with a market share of around 44.87%. 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 segmental growth.
Regionally, North America is expected to dominate the market during the forecast period owing to the growing prevalence of orthopedic diseases. Also, increasing research and development activities for the development of new product portfolio in foot & ankle devices industry is expected to boost the regional market significantly.
Additionally, major players operating in the foot & ankle devices market are based in North America region only, for instance, Johnson & Johnson, Stryker Corporation, Zimmer Biomet Holdings, Inc., among others, thereby supporting the region's market growth.
Major companies operating in the market are following strategies such as mergers & acquisitions, new product launches, collaborations, among others to stay competitive in the market and having an edge over other players.
For instance, In March 2020, Johnson & Johnson (US) launched the FIBULINK Syndesmosis Repair System in the US for the treatment of traumatic injuries. Also, In June 2020, Johnson & Johnson renewed its agreement with AO Foundation (Switzerland) to continue with the advancement of surgical education.
Some of the major competitors in the market are
Johnson & Johnson
Zimmer Biomet Holdings, Inc
Integra LifeSciences Holdings Corporation
Orthofix Medical Inc.
Years considered for this report:
Historical Years: 2016 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2026
Global Foot & Ankle Devices Market, By Product Type:
Internal Fixation Devices
External Fixation Devices
Solid Ankle Cushion Heel (SACH) Prostheses
Subtalar Joint Implants
Soft Tissue Orthopedic Devices
Musculoskeletal Reinforcement Devices
Artificial Tendons & Ligaments
Bracing & Support Devices
Soft Bracing & Support Devices
Hinged Braces & Support Devices
Hard Braces & Support Devices
Global Foot & Ankle Devices Market, By Procedure:
Global Foot & Ankle Devices Market, By Application:
Trauma & Hair line Fractures
Rheumatoid Arthritis & Osteoarthritis
Diabetic Foot Diseases
Global Foot & Ankle Devices Market, By End-User:
Ambulatory Surgery Centers
Global Foot & ankle devices Market, By Region:
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/ebno3s
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