DUBLIN, Jan. 26, 2018 /PRNewswire/ —
The “Foot And Ankle Devices Market By Product (Bracing & Support, Joint Implants, Soft Tissue Orthopedic Devices, Orthopedic Fixation, Prosthetics), By Application, By Region, And Segment Forecasts, 2014 – 2025” report has been added to ResearchAndMarkets.com’s offering.
Further Key Findings From the Study 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 implantUnite3D 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.
The global foot and ankle devices market is expected to reach USD 3.4 billion by 2025
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.
Key Topics Covered:
Chapter 1 Executive Summary
1.1 Market Snapshot
Chapter 2 Research Methodology
2.1 Information Procurement
2.2 Data Analysis
Chapter 3 Foot And Ankle Devices Market Variables, Trends & Scope
3.1 Market Segmentation and Scope
3.1.1 Market Driver Analysis
220.127.116.11 Increasing expenditure on research and development (R&D) by industry players
18.104.22.168 Increasing geriatric population
22.214.171.124 Increasing prevalence of target disease
126.96.36.199 Rising incidence rate of road accidents
3.1.2 Market Restraint Analysis
188.8.131.52 Uncertainty in regulatory reforms
184.108.40.206 High cost of devices
3.2 Penetration & Growth Prospects Mapping
3.3 Foot and Ankle Devices Market – PESTLE Analysis
3.4 Industry Analysis – Porter’s
Chapter 4 Foot And Ankle Devices :Product Estimates & Trend Analysis
4.1 Foot And Ankle Devices Market: Product Movement Analysis
4.2 Bracing and Support
4.3 Joint Implants
4.4 Soft Tissue Orthopedic Devices
4.5 Orthopedic Fixation
Chapter 5 Foot And Ankle Devices: Application Estimates & Trend Analysis
5.1 Foot and Ankle Devices Market: Application Movement Analysis
5.5 Rheumatoid Arthritis
5.6 Neurological Disorders
Chapter 6 Foot And Ankle Devices: Regional Estimates & Trend Analysis, by Product and Application
Chapter 7 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/gpnt3k/3_4_bn_foot_and?w=5
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