Foot and Ankle Devices Market Opportunities, Revenue, Future Scope and Forecast 2025

The Global Foot and Ankle Devices Market worth $5.3 billion by 2025, growing at a CAGR of 6.4% in the upcoming years.

The market growth is driven by greater disease burden for key risk groups, emergence of user-centric foot and ankle devices, and rising demand for minimally invasive surgical procedures. However, the risk associated with surgical site infection is expected to limit market growth in the coming years.

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Foot and ankle devices Industry Dynamics

Driver: Continuous product commercialization

Foot and ankle devices offer several benefits such as better affordability, higher efficacy, greater patient comfort, and are easy-to-use as compared to conventional products. Moreover, key players are increasingly focusing on the development of specialized products for the treatment of various foot and ankle disorders and deformities as well as to address the unmet market needs. The availability of advanced products and treatment modalities is generating significant interest among end users owing to the better treatment outcomes promised by them.

Restraint: Metal Sensitivity in patients with joint implants

There are several risks associated with using orthopedic implants and devices, such as the discomfort associated with the insertion of implants and devices. Surgical site infections are some other major risks. Foot and ankle devices are mostly made of metal or metal alloys (nickel, cobalt, chromium, and/or titanium). Products containing or made of these metals may cause allergies and infections once implanted, such as eczematous dermatitis, urticaria, and vasculitis. Metal sensitivity also causes osteolysis, pain, and the aseptic loosening of implanted metal hardware. Therefore, the above-mentioned risks limit usage of foot and ankle implants and devices.

Opportunity: Marketing, promotion and branding initiatives undertaken by major product manufacturers

Major product manufacturers are undertaking strategic initiatives to increase their brand visibility and product awareness among key end users (such as medical professionals, patients, and physiotherapists) across major healthcare markets worldwide. Company operating in foot and ankle devices market are opting for hybrid distribution strategy as per which distribution takes place both by distribution channel and through partnership with global orthopaedic companies. Foot and ankle devices company has also adopted consignment model, according to which company first places the systems with its customers and sales are made according to the implementation of implants. Such initiatives undertaken by major product manufacturers are expected to increase their brand awareness among target end-users as well as sensitize them about their role in preventive care.

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Challenge: Higher adoption of alternative therapies for the treatment of foot and ankle disorders injuries Increasing pricing pressure on market players

Regenerative medicine plays a major role in the management of foot and ankle injuries. Regenerative medicine treatments are typically used to repair or replace damaged cartilage, tendon, and ligament tissues. This area of medicine involves the use of orthobiologics, which are substances used to improve the healing of broken bones injured muscles, tendons, and ligaments. Orthobiologics, such as allografts, polymer-based bone substitutes, and Visco supplements, are extensively used to treat foot and ankle injuries or conditions resulting from trauma. The other treatment methodologies in regenerative medicine include stem cell treatments, PRP, and prolotherapy. The adoption of pain medications for such applications is high owing to the low awareness about the benefits of orthopedic braces as well as the unfavourable reimbursement scenario for these products. The ease of administration and greater affordability of pain medications are the other major factors supporting this trend. This is considered a major challenge for the growth of the foot and ankle devices market during the study period.

By product, the orthopedic implants and devices products segment dominated the global foot and ankle devices market

Based on the product, the market is segmented into orthopedic implants and devices, bracing and support devices, and prostheses. Orthopedic implants and devices products include joint implants, fixation devices, and soft tissue orthopedic devices. The orthopedic implants and devices segment dominated the market in 2019. Rising incidences of diabetes, new product launches, coupled with the rising adoption of branded orthopedic devices and implants because of better quality and lower risk associated with surgical site infection in emerging countries, is expected to drive the segment growth.

By application, the trauma hair line fractures products segment dominated the global foot and ankle devices market

Based on the application, the market is segmented into trauma hair line fractures, rheumatoid arthritis osteoarthritis, diabetic foot diseases, ligament injuries, neurological disorders, hammertoe and others. The trauma and hair line fracture segment accounted for a larger share of in the market in 2019. The increasing prevalence of sport injuries and road accidents, growing number of foot and ankle reconstruction procedures related to fractures, rapid growth in the aging population across the globe, and the development of advanced foot and ankle products are factors expected to drive the growth of this market segment in the coming years.

By end user, the hospital segment accounted for the largest share of the foot and ankle devices market in 2019

Based on application, the market has been segmented into the hospitals, ambulatory surgery centers, orthopaedic clinics andrehabilitation centers. Among these, the hospitals segment accounted for the largest share of the market in 2019. The large share of this segment is attributed to the large target patient population base (especially in emerging countries) preferring hospitals, the growing procedural volume in hospital settings, rising emphasis on effective and early disease diagnosis in hospital, and the high budget of hospitals for introducing various technologically advanced foot and ankle devices products.

North America is expected to command the largest share of the foot and ankle devices industry in 2019

The report covers the foot and ankle devices market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America, and MEA. North America commanded the largest share of the foot and ankle devices market in 2019. The increasing RD to develop patient specific foot and ankle devices, rising prevalence of orthopaedic diseases, technological advancements in foot and ankle devices products and procedures are the key factors supporting market growth in North America.

Key Market Players

DePuy Synthes Companies (US), Stryker Corporation (US), Zimmer Biomet Holdings, Inc (US), Smith Nephew plc (UK), Arthrex Inc (US), Integra LifeSciences Holdings Corporation (US), DJO Finance, LLC (US), CONMED Corporation (US), Össur HF (Iceland), Orthofix Medical Inc. (US), Medartis AG (Switzerland), Acumed LLC (US), Extremity Medical (US), aap Implantate AG (Germany), Ottobock SE Co. KGaA (Germany), Ortho Solutions UK Ltd. (UK), Vilex in Tennessee, Inc. (US), Advanced Orthopaedic Solutions (US), Fillauer LLC (US), and Groupe FH Ortho (France)

Recent Developments

In September 2020, Stryker Corporation (US) launched the AxSOS 3 Ankle Fusion System, which is an ankle fusion titanium plate system used for the fusion of the tibio-talar joint.
In March 2020, DePuy Synthes (US) launched the FIBULINK Syndesmosis Repair System in the US for the treatment of traumatic injuries to the syndesmosis.
In June 2020, DePuy Synthes renewed its agreement with AO Foundation (Switzerland) to continue with the advancement of surgical education.

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