Foot And Ankle Devices Market Is Predicted To Grow Swiftly Due To Rising Incidence Rate Of Road Accidents Till 2025: Grand View Research, Inc.
The
global foot and ankle devices market is expected to reach USD 3.4
billion by 2025, based on a new report by Grand View Research, Inc. The market
is expected to observe an exponential growth during the forecast period due to
the rising incidence of ankle sprains, hammertoe, bunions, osteoporosis and
rheumatoid arthritis.
Ankle
fractures are one of the most common types of foot injury. Nearly 170,000
people suffer from ankle fractures per year, which require surgical treatment.
It is one of the nine most common fractures. This can be attributed to the
relatively small surface area of contact in the ankle and the 1.5 times higher
body weight on it at rest & 5.5 times higher forces in case of heavy
activity. This makes the long-term viability of ankle joints crucial.
Nearly
50,000 patients are diagnosed with end-stage ankle arthritis per year, wherein
the ankle cartilage is worn out, causing painful bone-on-bone contact and
disability. These patients are recommended total ankle replacements as opposed
to ankle fusion, as it provides higher efficacy, thus driving the market.
Favorable reimbursement scenario for joint replacements is one the major
contributors to its market growth. Medicare, along with some private insurers,
reimburses the procedure.
Browse full
research report on Foot And Ankle Devices Market: www.grandviewresearch.com/industry-analysis/foot-and-ankle-devices-market
Further key
findings from the report suggest:
- Bracing and support dominated the market in
2016. Increasing application of braces drives the market and has resulted
in industry players developing and introducing new products in the market.
For instance, in October 2017, Vickers Grant Holdings, LLC launched
ATHLETICA with an ankle brace as an introductory product for the brand.
- Aging results in significant changes in the
skeletal and neuromuscular systems, leading to arthritis, weak ligament,
and ACL tear. Symptomatic and asymptomatic tears affect more than 50% of
the geriatric population. This is one of the key drivers attributed to the
accelerated growth of soft tissue orthopedic devices.
- Geographically, North America held the largest
market share in 2016 and is expected to maintain its position during the
forecast period. This large share can be accounted for high adoption rate
of new technology and favorable reimbursement scenario.
- The companies are tending toward providing
novel products by adopting new technology. In February 2016, Zimmer Biomet
received FDA approval for its 3D printed foot-and-ankle implant—Unite3D
Bridge Fixation System. The product is perceived to offer greater
stability and rigidity due to its integrated structure.
- Some key industry contributors are DePuy
Synthes, Zimmer Biomet, Stryker, Integra LifeSciences Corporation, Wright
Medical Technology, Inc., Advanced Orthopedic Solutions, Acumed, Bioretec
Ltd., and Ossur.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the foot and ankle devices market by
product, application, and region:
Product
Outlook (Revenue, USD Million; 2014 - 2025)
- Bracing
and Support
- Joint
Implants
- Soft
Tissue Orthopedic Devices
- Orthopedic
Fixation
- Prosthetics
Application
Outlook (Revenue, USD Million; 2014 - 2025)
- Hammertoe
- Trauma
- Osteoarthritis
- Rheumatoid
Arthritis
- Neurological
Disorders
- Bunions
- Osteoporosis
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-foot-and-ankle-devices-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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