Foot and Ankle Devices Market Overview
Foot and ankle devices are used for the treatment of injuries caused by orthopedic disorders, such as diabetic foot, bunions, arthritis, and hammertoes with the help of surgical procedures. Injuries in the foot and ankle region are usually caused by accidents and fall. On the other hand, arthritis, bunions, hammer-toes, and diabetic foot are some of the disorders which may call for surgical procedures with subsequent use of foot and ankle devices.
The market for Foot and Ankle Devices is mainly driven by the increasing cases of bone injuries amongst the aged people with vascular disease and diabetes that leads to the deterioration of foot-ankle area with infections, and rising sports injuries and road accidents. Also, technological advancements in this field will further propel the market growth. But the market growth is restrained due to high cost of some of foot and ankle devices and incurred excise taxes on medical devices.
Foot and Ankle Devices Market Forecast Report (2018-2023)
Global Foot and Ankle Devices market has been estimated at USD 5.32 Billion in 2018 and is projected to reach USD 8.07 Billion by 2023, at a CAGR of 7.5% during the forecast period from 2018 to 2023.
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Foot and Ankle Devices Market Segmentation
Global Automatic Pill Dispenser Market is segmented by Application (Home Healthcare, Hospital Pharmacy, Retail Pharmacy), by Type (Carousels, Centralized Automated Dispensing System, Robots/Robotic Automated Dispensing System, Ward-Based, Decentralized Automated Dispensing, Pharmacy-Based, Automated Unit Dose), by Age group (18-64 years, 65-74 years, 75-84 years, 85 years and above), and by Indication (Visual Impairment, Old Age, Dementia, Learning Dementia, Physical Disability, Mental Health excluding dementia, Parkinson’s disease, Others).
Geographically, Global market for Foot and Ankle Devices is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe. The market in North America is highly driven due to higher acceptance rate, patient affordability and large number of sports injuries. The Foot and Ankle Devices market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing aging population and rising sports injuries.
The major companies dominating this market for its products and services are
- Stryker Corporation,
- Arthrex, Inc.,
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc,
- Wright Medical Technology, Inc.
- Integra Life Sciences Holdings Corporation,
- Tornier N.V.,
- Extremity Medical, LLC,
Key Takeaways from this Report:
· For different product types, end use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
· Identify various driving factors, constrains and untold opportunities that can impact the global marketplace
· Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
· Increase overall revenue by understanding the geographical impact on sales and distribution channels.
· Evaluate the increase in values at each step of industry supply chain to improve process efficacy and optimize the value.
· Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
· Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
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