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.
Some of the major competitors in the market are Johnson & Johnson, Zimmer Biomet Holdings, Inc, CONMED Corporation, Össur HF, Integra LifeSciences Holdings Corporation, among others.
Years considered for this report
Historical Years2016 – 2019
Base Year2020
Estimated Year2021
Forecast Period2022 – 2026
Objective of the Study
- To analyze the historical growth in the market size of global foot & ankle devices market from 2016 to 2020.
- To estimate and forecast the market size of global foot & ankle devices market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast global foot & ankle devices market based on product type, procedure, application, end user, regional distribution, and company.
- To identify dominant region or segment in the global foot & ankle devices market.
- To identify drivers and challenges for global foot & ankle devices market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global foot & ankle devices market.
- To identify and analyze the profile of leading players operating in global foot & ankle devices market.
- To identify key sustainable strategies adopted by market players in global foot & ankle devices market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers, suppliers, and distributors across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufactures which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufactures, distribution channels and presence of all major players across the globe.
Market insights research calculated the market size of global foot & ankle devices market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. Market insights research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Market insights research.
Key Target Audience
- Manufacturers, end users and other stakeholders
- Distributers and suppliers of foot & ankle devices and other stakeholders
- Organizations, forums, and alliances related to foot & ankle devices market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as vendors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
