What Does the Historical and Current Foot And Ankle Devices Market Size Trend Indicate?
The foot and ankle devices market has seen considerable growth due to a variety of factors.
• The market size for foot and ankle devices has seen significant expansion in the past years. It is expected to increase from $6.09 billion in 2024 to $6.65 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%.
The historical growth has been influenced by factors such as an aging population, orthopedic disorders, sports-related injuries, chronic conditions, as well as an increase in trauma and accidents.
How Will the Foot And Ankle Devices Market Size Evolve over the Forecast Period?
The foot and ankle devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for foot and ankle devices is anticipated to experience a significant surge in the upcoming years, reaching a value of $9.85 billion in 2029, with a formidable compound annual growth rate (CAGR) of 10.3%.
The accelerated growth in the forecast period is likely due to factors such as patient-focused care, the rise in regenerative medicine, an increasing diabetic population, advancements in telemedicine and remote monitoring, and the favorability of minimally invasive procedures. The forecast period is expected to be characterized by several trends, including the prevalence of wearable devices and intelligent orthopedics, the widespread utilization of telehealth and remote consultations, the application of biomechanical analysis, the advent and utility of 3D printing and additive manufacturing, along with the use of advanced materials.
Which Factors Are Boosting Growth In The Foot And Ankle Devices Market?
Orthopedic diseases are on the rise and this is likely to push forward the expansion of the market for foot and ankle devices. Such disorders damage bones and muscle tissues, including cartilage, ligaments, tendons, and connective tissues, all of which are part of the musculoskeletal system. Foot and ankle devices find usage in treating different fusions, fractures, and osteotomies in the forefoot, midfoot and rearfoot, thereby driving the market growth. As per the Institute for Health Metrics and Evaluation, a health agency of national and international scope, musculoskeletal disorder cases are set to rise by 115% (107–124) from 2020 to 2050, resulting in an approximated 1060 million (95% UI 964–1170) prevalent cases in 2050. The World Health Organization, a Swiss government agency, reported that musculoskeletal diseases hindered the lives of 1.71 billion people globally in 2021, making them a prime cause of disability. Besides that, 568 million people had encountered low back unease. Hence, the steep incline in orthopedic disorder incidences is fueling the foot and ankle devices market's growth.
What Key Areas Define The Segmentation Of The Global Foot And Ankle Devices Market?
The foot and ankle devices market covered in this report is segmented –
1) By Product: Bracing and Support Devices, Prostheses
2) By Cause Of Injury: Trauma, Diabetes, Neurological Disorders, Other Causes
3) By End User: Hospitals, Ambulatory Surgery Centers, Orthopedic Clinics, Rehabilitation Centers, Other End Users
Subsegments:
1) By Bracing and Support Devices: Ankle Braces, Foot Orthoses (Arch Supports), Night Splints, Compression Sleeves, Heel Cups
2) By Prostheses: Below-Knee Prostheses, Above-Knee Prostheses, Customized Foot Prosthetics, Pylon Prostheses
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How Are Emerging Trends Reshaping The Dynamics Of The Foot And Ankle Devices Market?
A significant trend that is transforming the foot and ankle market currently is the surge in product innovations. Businesses in this industry are manufacturing novel products for gaining a competitive edge. An example of this is Stryker Corporation, a medical technology firm from the US, which introduced the Citrelock™ Tendon Fixation Device System in September 2021. This cutting-edge system presents a unique design with a tendon thread that integrates CitregenTM, a resorbable technology endowed with singular chemical and mechanical features. It's applicable for orthopaedic surgical procedures. The Citrelock Tendon Fixation Device System aims to simplify insertion and secure fixation while minimizing tendon damage during placement. Moreover, in March 2022, Acumed, another US-based medical device manufacturer, rolled out the Ankle Syndesmosis Repair System. This system incorporates the groundbreaking Acu-Sinch Knotless technology and is engineered specifically to manage syndesmotic disruptions and offer dynamic stabilization of the tibiofibular joint, a critical aspect for successful foot and ankle surgeries.
Who Are the Key Players in the Foot And Ankle Devices Market?
Major companies operating in the foot and ankle devices market include:
• Aap Implantate AG
• Acumed LLC
• Advanced Orthopaedic Solutions Inc.
• Arthrex Inc.
• CONMED Corporation
• DePuy Synthes Companies
• DonJoy Inc.
• Extremity Medical LLC
• Fillauer LLC
• FH ORTHOPEDICS S.A.S.
• Integra LifeSciences Holdings Corporation
• Medartis Holding AG
• Mondeal Medical Systems GmbH
• Ortho Solutions UK Ltd.
• Orthofix Medical Inc.
• Össur hf.
• Ottobock Healthcare AG
• Smith & Nephew plc
• Stryker Corporation
• Tornier N.V.
• Vilex in Tennessee Inc.
• Wright Medical Technology Inc.
• Zimmer Biomet Holdings Inc.
• KYOCERA Medical Corporation
• Medacta International SA
• Merete Medical GmbH
• Medtronic plc
• Inovedis SAS
• OsteoMed LLC
What Is The Most Dominant Region In The Foot And Ankle Devices Market?
North America was the largest region in the foot and ankle devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foot and ankle devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
