Vision Research Report, Recently Announced New Report on “foot and ankle devices market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.
Global “Foot and ankle devices market” Report 2021 covering manufacturers, regions, segments, forecast to 2030 is that the recent research report with correct information and extremely authentic info. The report provides insights on market share, market size, rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. The Foot and ankle devices research report focuses on the competitive surroundings that has section on company profile covering product specifications, geographical coverage, recent developments, revenue analysis, and market shares. what is more, the report offers strategic recommendations so as to help the consumers to align business goals.
The Foot and ankle devices market revenue share is set to grow at a yearly rate of 20.03% during 2021-2030, while its valuation is Projected to jump from $ 11.5 Bn in 2020 to $XX Bn in 2030.
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Based on the product, the market is segmented into bracing and support, joint implants, soft tissue orthopedic devices, orthopedic fixation, and prosthetics. The need for joint implants has been growing over the last decades due to increasing life expectancy and the desire to stay active. Aging baby boomers are the major consumers of joint replacement products, mostly due to their desire to retain mobility. Bracing is used as a part of post-operative rehabilitation therapy. Athletes commonly use braces to prevent bone and muscle injuries.
Ankle replacement surgeries are the second most common replacement surgery in the U.S. after hip & knee replacement procedures. Almost 4,400 patients underwent ankle procedures in the U.S. in 2016. The most common cause of ankle replacement surgeries is injured ankles and arthritic joints.
Athletes participating in soccer or baseball games are at a higher risk of soft tissue injuries. Meniscal tear-a connective tissue injury-is common among the youth. Almost 250,000 soft tissue reattachment surgeries are conducted in the U.S. per year. There are various products focused on orthopedic tissue repair available in the market. Orthocell offers an Ortho-ATI-a tendon regeneration solution. The company is planning to register its product in other countries in 2017.
Injuries to the foot and ankle ligaments are among the most common injuries. Some severe foot and ankle injuries are likely to lead to long-term disability or morbidity. These injuries are commonly observed among adults and children, especially athletes. Trauma has a significant share in the foot & ankle devices market and valued USD 263.3 million in 2016 and is projected to reach USD 616.6 million in 2025.
Hammertoes are considered to be an endemic forefoot deformity as nearly 20% of the total American population gets affected by this condition. Forefoot deformities generally remain undiagnosed due to lack of knowledge about this disease. In this case, one or more toes of patients are bent in an abnormal position and they can face difficulties in finding the right fitting shoes. The friction between skin and shoes can cause severe injuries.
In 2012, around 550,000 hammertoe surgeries were performed to treat orthopedic forefoot deformities and this number is expected to grow to 648,000 by the year 2017. According to Nextremity Solutions, Inc., nearly 60 million Americans suffer from hammertoe and related deformities. Moreover, their research states that majority of this population has not been diagnosed or undergone surgeries for treatment. In the U.S., around 1.2 million surgical procedures are conducted every year for hammertoe correction.
Millions of people are injured and disabled in road accidents. According to the National Safety Council (NSC), the U.S. witnessed the highest number of road accidents and related deaths and injuries in the year 2016. Almost 4.6 million people sustained injuries that required medical consultation. The economic burden of road accidents was worth USD 412 billion in that year in terms of property damage, loss of productivity, and employer costs involved.
North America dominated the overall market in terms of revenue in 2016. A high rate of unintentional injuries and large geriatric population are the key factors for the large market share of this region. Various trauma centers established by the government are specialized to handle emergencies.
In Asia Pacific, Japan is expected to spearhead the growth in the coming years. The rising geriatric population in Japan and China, road crashes, and developing economies is expected to promote the emergence of the market in this region.
According to the American Diabetes Association, more than 23 million people are living with diabetes and of those almost 6.0% of patients suffer from foot ulcers that require conventional wound management approaches. Diabetic foot ulcers require a longer healing period and are likely to be infected. The alarming rate of road accidents and rising incidence of diabetes and osteoporosis have resulted in the need for an efficient healthcare system and trauma devices in this region. This is also likely to boost the foot and ankle devices market over the forecast period.
The Obamacare device tax enforced in the U.S. in January 2013 was suspended for 2 years in December 2015 and this suspension is expected to be permanent. It will allow companies to invest more in R&D and offer products at a lower price.
Global Foot and ankle devices market report provides key statistics on the state of the trade and could be a valuable supply of steerage and direction for corporations and people curious about the market. The Foot and ankle devices trade trends and promoting channels analysed. Foot and ankle devices Market discovers numerous topics like regional market scope, product market numerous applications, market size consistent with specific product, sales and revenue by region, producing analysis, Industrial Chain, Market result Factors Analysis, market size forecast, and more. Finally, the practicableness of latest investment comes is evaluated and overall analysis conclusions offered.
Key Players
DePuy Synthes, Zimmer Biomet, Stryker, Integra LifeSciences Corporation, Wright Medical Technology, Inc., Advanced Orthopedic Solutions, Acumed, Bioretec Ltd., and Össur.
Market Segmentation
Global Foot and ankle devices Market: Drivers and Restrains
The analysis report has incorporated the analysis of various factors that augment the market’s growth. It constitutes trends, restraints, and drivers that remodel the market in either a positive or negative manner. This section additionally provides the scope of various segments and applications that may probably influence the market within the future. The elaborated info is predicated on current trends and historic milestones. This section additionally provides an analysis of the amount of production regarding the world market and regarding every kind from 2021-2030.
COVID-19 impact on the Foot and ankle devices market
COVID-19 is associate communicable disease caused by the novel coronavirus. for the most part unknown before this happening across the world, COVID-19 has captive from a regional crisis to a worldwide pandemic in precisely a matter of a number of weeks. the world Health Organization (WHO) declared COVID-19 as an epidemic on March 11, 2021.
COVID-19 has compact most the industries across the world by disrupting provide chains and impeding numerous industrial operations. COVID-19-responsive measures undertaken by governments, like lockdown and social distancing, led to the closure of producing plants in the initial stage of the pandemic. With only a few industrial operations allowed, the demand for numerous input product within the industrial sector has declined considerably.
Key Highlights Involved in the Market Research Report: –
Foot and ankle devices Market Study Coverage: It includes key market segments, key makers covered, the scope of product offered within the years thought of, world Foot and ankle devices Market and study objectives. in addition, it touches the segmentation study provided within the report on the idea of the sort of product and applications.
Foot and ankle devices Market executive Summary: This section emphasizes the key studies, market rate, competitive landscape, market drivers, trends, and problems additionally to the gross indicators.
Foot and ankle devices Market Production by Region: The report delivers knowledge associated with import and export, revenue, production, and key players of all regional markets studied area unit coated during this section.
Foot and ankle devices Market Profile of Manufacturers: Analysis of every market player profiled is elaborated during this section. This section conjointly provides SWOT analysis, products, production, value, capacity, and different very important factors of the individual player.
The report delivers a comprehensive study of all the segments and shares info concerning the leading regions within the market. This report additionally states import/export consumption, offer and demand Figures, cost, business share, policy, price, revenue, and gross margins.
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