발 및 발목 디바이스 : 시장 점유율 분석, 산업 동향 및 통계, 성장 전망(2024-2029년)

The Foot And Ankle Devices Market size is estimated at USD 4.65 billion in 2024, and is expected to reach USD 6.66 billion by 2029, growing at a CAGR of 7.44% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the growth of the Foot and Ankle Devices market during the initial phase of the pandemic due to a decline in the number of patient visits to orthopaedic clinics and hospitals. For instance, according to the article published in Cureus Journal in August 2021, the number of orthopaedic surgeries fell by 22.8% during the first year of the pandemic. As per the same source, there was a 64% decline in knee arthroplasty procedures, 44% in knee ligament reconstruction, and 41% in hip arthroplasty procedures during the initial phase of the pandemic.

Therefore, looking at the overall scenario, it was observed that the COVID-19 pandemic had a significant impact on the market studied. However, currently, the market has reached its pre-pandemic nature in terms of the demand for foot and ankle devices. It is expected to witness healthy growth during the forecast period.

Certain factors driving the growth of the market include the increasing number of sports injuries and road accidents, rising incidences of diabetes and foot-related disorders, and technological developments, such as automatic foot and ankle devices. For instance, per the report published by the Ministry of Road Transport and Highways of India (MoRTH) in December 2022, approximately 412,432 road accidents were reported in India in 2021, with injuries to 384,448 persons.

In addition, the increasing prevalence of foot and ankle disorders, such as osteoarthritis, rheumatoid arthritis, diabetic foot ulcers, and sports injuries, is a major driver for the growth of the foot and ankle devices market. These conditions often require medical intervention, including using orthopaedic devices and implants. For instance, according to the review study published by the Journal of Rheumatology in January 2023, the prevalence of inflammatory rheumatic diseases in adults in Germany has increased by 1% compared to previous years. The most common are rheumatoid arthritis and spondyloarthritis. The same source also stated that around 1.5 to 2.1 million people in Germany, or 2.2% to 3.0% of the country's population, have inflammatory rheumatic illnesses. Similarly, according to data gathered by the Global Rheumatoid Arthritis (RA) Network in 2021, around 350 million individuals worldwide had arthritis, which is expected to grow rapidly.

Moreover, the rising number of product launches by prominent players is also projected to drive market growth during the forecast period. For instance, in April 2022, the United States Food and Drug Administration (US-FDA) approved the Calcaneal Fracture Plating System and IM Fibula Implant, which were launched by Medline UNITE Foot & Ankle. With the national release of these two devices, surgeons will have access to a complete titanium foot and ankle trauma system, which will allow them to treat almost all fractures that call for Open reduction and internal fixation (ORIF) with plate and screw fixation.

Thus, the rising number of road accidents, increasing prevalence of foot and ankle disorders, and surging number of product launches by prominent players are anticipated to augment the growth of the market over the analysis period. However, the high cost of the foot and ankle devices and the lack of sufficient reimbursement policies for the surgeries are major restraining factors for the growth of the market.

Foot and Ankle Devices Market Trends

Fracture Repair Segment is Expected to Hold Significant Share in the Procedure Segment

Foot and ankle fractures mostly result from trauma or direct injury to the bone. The availability of advanced medical devices and a growing number of ankle and foot fractures are expected to boost the segment's growth.

The rising number of ankle and foot injuries is anticipated to increase the demand for foot and ankle fracture repair devices to effectively manage pain and affected joints. For instance, per the data published in the Annual Review of Workplace Injuries, Illnesses, and Fatalities 2021-2022 report in October 2022, over 8,023 and 8,279 injuries were recorded in workers and non-workers, respectively. Out of these injuries, over 7.5% and 7.4% of ankle injuries were recorded amongst workers and non-workers, respectively, in the United States two years ago.

Furthermore, the number of sports-related injuries is also high worldwide, resulting in foot and ankle injuries, which is expected to drive the demand for foot and ankle fracture repair devices, for instance, as per the data published by the National Safety Council in 2022, over 222.1 million and 144.9 million cases of injuries were reported in Football and Soccer sports, respectively, in the United States two years ago. Thus, with such high numbers of sports injuries, the requirement for surgical intervention with the small bone and joint devices for the ankle and foot is expected to drive the segment's growth.

Moreover, the market players in foot and ankle devices are advancing their technology and launching new products, further fueling the segment's growth. The advent of 3D-printed implants helps physicians customize the implants and fixation systems for accurate fracture fixation. For instance, in January 2022, Paragon 28 received the United States Food and Drug Administration clearance for an ankle fracture and soft tissue stabilization system. The R3ACT system includes a portfolio of products designed for foot and ankle fractures and soft tissue injuries.

Hence, due to the rising number of foot and ankle injuries and the surge in the number of product launches, the fracture repair segment is expected to register healthy growth over the forecast period.

North America Hold Significant share in the Market and is Expected to do the Same in the Forecast Period

The geographical analysis of the foot and ankle devices market shows that North America holds a significant market share in the global market. This is due to the increasing number of road accidents and sports injuries, the rising incidence of rheumatoid arthritis, and technological advancements in foot and ankle surgeries.

For instance, as per the Arthritis Foundation 2022 report, nearly 300 thousand children in the United States currently have juvenile arthritis. As per the same source, 36% of the surveyed children reported having severe discomfort that significantly limited their daily activities. Children with arthritis can experience foot and ankle joint damage and deformities over time due to the inflammation and swelling in their joints. This is expected to boost the market demand during the forecast period.

In addition, the rising number of product launches by prominent players in the region is also projected to drive regional market growth during the forecast period. For instance, in April 2022, the United States Food and Drug Administration approved the Calcaneal Fracture Plating System and IM Fibula Implant, which were launched by Medline UNITE Foot & Ankle. With the national release of these two devices, surgeons will have access to a complete titanium foot and ankle trauma system, allowing them to treat almost all fractures that call for ORIF with plate and screw fixation. Similarly, in January 2022, Paragon 28 received the United States Food and Drug Administration clearance for an ankle fracture and soft tissue stabilization system. The R3ACT system includes a portfolio of products designed for foot and ankle fractures and soft tissue injuries.

Therefore, the rising prevalence of rheumatoid arthritis and the increasing number of product launches by prominent players is projected to drive regional market growth during the forecast period.

Foot and Ankle Devices Industry Overview

The foot and ankle devices market is moderately competitive and consists of a few major players dominating the market. The market players adopted various strategies such as product launches, mergers and acquisitions, and partnerships to stay competitive in the market. some of the key market players are Acumed, Arthrex Inc., Johnson & Johnson (DePuy Synthes), Smith & Nephew, and Stryker (Wright Medical Group N.V.) among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Increasing Number of Sports Injuries and Road Accidents
  • 4.2.2 Rising Incidences of Diabetes and Foot-related Disorders
  • 4.2.3 Technological Advances in Foot and Ankle Surgeries
• 4.3 Market Restraints
  • 4.3.1 Stringent Regulatory Guidelines
  • 4.3.2 Huge Cost and Lack of Reimbursement for Devices
• 4.4 Porter's Five Forces Analysis
  • 4.4.1 Bargaining Power of Suppliers
  • 4.4.2 Bargaining Power of Buyers/Consumers
  • 4.4.3 Threat of New Entrants
  • 4.4.4 Threat of Substitute Products
  • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION (Market Size by Value - USD)

• 5.1 By Device Type
  • 5.1.1 Ankle Replacement Devices
  • 5.1.2 External Fixation Devices
  • 5.1.3 Plates
  • 5.1.4 Screws
  • 5.1.5 Biologics and Implants
  • 5.1.6 Other Device Types (Staples, Osteotomy Wedges, Fusion Nail Systems, among others)
• 5.2 By Procedure
  • 5.2.1 Osteotomy
  • 5.2.2 Fracture Repair
  • 5.2.3 Fusion Procedures
  • 5.2.4 Other Procedures
• 5.3 Geography
  • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Mexico
  • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Spain
    • 5.3.2.6 Rest of Europe
  • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 Japan
    • 5.3.3.3 India
    • 5.3.3.4 Australia
    • 5.3.3.5 South Korea
    • 5.3.3.6 Rest of Asia-Pacific
  • 5.3.4 Middle East and Africa
    • 5.3.4.1 GCC
    • 5.3.4.2 South Africa
    • 5.3.4.3 Rest of Middle East and Africa
  • 5.3.5 South America
    • 5.3.5.1 Brazil
    • 5.3.5.2 Argentina
    • 5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE

• 6.1 Company Profiles
  • 6.1.1 Acumed
  • 6.1.2 Arthrex Inc.
  • 6.1.3 Johnson & Johnson (DePuy Synthes)
  • 6.1.4 Smith & Nephew
  • 6.1.5 Stryker Corporation (Wright Medical Group N.V.)
  • 6.1.6 Zimmer Biomet
  • 6.1.7 Globus Medical Inc.
  • 6.1.8 Orthofix US LLC
  • 6.1.9 Ortho Solutions UK Ltd
  • 6.1.10 Fillauer LLC

7 MARKET OPPORTUNITIES AND FUTURE TRENDS