Global Foot and Ankle Devices Market Forecast up to 2025
Published Date:Mar 2019
Category:Healthcare & Pharmaceuticals
[119 pages report] This market research report includes a detailed segmentation of the global foot and ankle devices market by product types (joint implants, support and braces, prosthetics, fixations, and consumables), by applications (osteoporosis, rheumatoid arthritis, hammertoe, bunions, and others), by end-users (hospitals, ambulatory care, and trauma centers), and by regions (North America, Europe, APAC, and RoW).
Infoholic Research predicts that the global foot and ankle devices market will grow at a CAGR of 8.7% during the forecast period. The market is expected to see a significant growth with factors driving the market such as increase in incidence of arthritis, low limb disorders causing acute injury and overuse injuries, sports activities, accidents, and diabetic foot. Also, the increase in popularity of minimally invasive surgical procedures (especially total ankle replacement i.e., arthroplasty procedures) has increased the usage of foot and ankle devices across the globe. Lower extremities are one of the common injury regions in the body primarily caused due to accidents and fall. Other orthopedic disorders also require surgical and replacement procedures. The foot and ankle devices market have advanced joint reconstruction, ankle fusion, internal fixation, and prosthetics. An increase in the demand for minimally invasive orthopedic surgeries is on the rise in developed and developing countries.
The shift from traditional to minimally invasive procedures performed in an outpatient setting is increasing in demand. The growing popularity of minimally invasive surgical procedures has increased the demand of foot and ankle devices as they have fewer complications associated with it. Joint reconstruction is one of the most successful orthopedic surgeries and is expected be one of the most effective and accurate procedures. Arthroscopy is one of the alternatives for the open surgical technique and is the most commonly performed total ankle replacement surgical procedure.
Most of the joint replacement implants are surgically performed when the joint is worn out or becomes dysfunctional due to injuries. Surgeries are primarily carried out to restore mobility and relieve pain. In minimally invasive surgery, a small surgical incision is made and fewer muscles around the joint are detached or cut. Despite this difference, both traditional and minimally invasive joint replacement are technically demanding due to the outcomes and are dependent on the operating team with considerable experience.
According to Infoholic Research analysis, North America accounted for the largest share of the global foot and ankle devices market in 2018. The primary reasons behind the market’s growth in the Americas are rise in the aging population, increasing incidence of osteoporosis, advanced healthcare infrastructure, and rising demand for minimally invasive surgeries. The Asia Pacific region is expected to witness the fastest growth rate due to large patient pool, increasing awareness, and rising healthcare expenditure.
Segmentation by Product Types:
• Joint Implants
• Support and Braces
The prosthetics segment is the fastest growing segment and the advancements in technology has gained immense popularity in treating externally powered foot and ankle, which can normalize daily activity of a prosthetic leg or individual who has undergone amputation. Further, the total ankle systems have also gained high adoption in the foot and ankle market, which will lead it to gain the highest volume sales during the forecast period.
Segmentation by Applications:
• Rheumatoid arthritis
In 2018, the osteoporosis segment accounted for the maximum share with increased use of ortho-related procedures, especially for total ankle replacement.
Segmentation by End-users:
• Ambulatory Care
• Trauma Centers
In 2018, hospitals gained the highest share in the foot and ankle devices market with the large volumes of diagnostics and treatments globally.
Segmentation by Regions:
• North America
The foot and ankle devices market in APAC region is growing at a significant pace. The rise in aging population, road accidents, increase prevalence of osteoporosis, increase in demand of minimally invasive surgeries, swiftly growing medical tourism industry, and investments in mid-tier hospitals from the government are driving the market growth.
Competitive Analysis – The competition in the global foot and ankle devices industry is intense and is primarily characterized by widespread research efforts and fast technological progress. Manufacturers including major and mid-sized companies in the foot and ankle devices and biologics industries are competing with newer products, advanced features, quality, safety, and efficacy. They have partnered with academic institutions and other public and private research organizations that continue to conduct research and development activities. The partnership and collaboration help to develop the product with high productivity, seek patent protection, and establish arrangements for commercializing products that will compete with our products. The market in the developed countries is almost reaching maturity.
The competitive advantage is primarily due to the increase in mergers & acquisitions that have increased the product launch and product portfolio expansion in leading companies. Factors such as price, quality, innovative design and technical capability, scale of operations, clinical results, distribution capabilities, breadth of product line, brand reputation, and strong customer service remains the primary objectives of all the vendors. Most of the vendors are trying to compete by having core competencies and develop strong competitive advantage in the market.
• Johnson & Johnson (DePuy Synthes Inc.)
• Zimmer Biomet Holdings, Inc.
• Smith & Nephew, Inc.
• Arthrex, Inc.
• Wright Medical Group N.V.
Key Competitive Facts:
• The market is highly competitive with all the players competing to gain the market share. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
• The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.
• Responding to competitive pricing pressures specific to each of our geographic markets
• Protection of proprietary technology for products and manufacturing processes
Benefits – The report provides complete details about the usage and adoption rate of foot and ankle devices. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives towards the medical devices segment in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
• Understanding the potential market opportunity with precise market size and forecast data.
• Detailed market analysis focusing on the growth of the foot and ankle devices industry.
• Factors influencing the growth of the foot and ankle devices market.
• In-depth competitive analysis of dominant and pureplay vendors.
• Prediction analysis of the foot and ankle devices industry in both developed and developing regions.
• Key insights related to major segments of the foot and ankle devices market.
• The latest market trend analysis impacting the buying behavior of the consumers.
1 Industry Outlook 10
1.1 Orthopedic Devices 10
1.1.1 Overview 10
1.1.2 Geography 11
1.1.3 Medical Technologies 11
1.1.4 Increase in Mergers & Acquisitions 11
1.1.5 Industry Trends 12
1.2 Healthcare Spending in the US 13
1.3 Regulatory Bodies & Standards 13
1.4 Reimbursement Scenario 14
1.5 Third-party Reimbursement 15
1.6 Emerging Global Markets 16
1.7 Patient Demographics 17
1.8 Definition: Foot and Ankle 19
1.8.1 Overview 19
1.8.2 Statistics 20
1.9 PESTLE Analysis 22
2 Report Outline 24
2.1 Report Scope 24
2.2 Report Summary 24
2.3 Research Methodology 25
2.4 Report Assumptions 26
3 Market Snapshot 27
3.1 Total Addressable Market (TAM) 27
3.1.1 Importance of Orthopedic Devices 28
3.2 Segmented Addressable Market (SAM) 30
3.3 Related Markets 33
3.3.1 Surgical Devices Market 33
3.3.2 Biomaterial Market 34
3.3.3 Arthroscopy Devices Market 34
3.3.4 Hip Replacement Market 34
3.3.5 Dental Implant Market 34
3.3.6 Energy-based Aesthetic Devices Market 35
3.3.7 Spine Orthopedic Devices Market 35
3.4 Porter 5 (Five) Forces 35
4 Market Characteristics 37
4.1 Market Segmentation, By Product Type 37
4.1.1 Joint Implants 39
4.1.2 Support and Braces 40
4.1.3 Prosthetics 41
4.1.4 Fixations 41
4.1.5 Consumables 42
4.2 Foot and Ankle Devices Market, By Application Type 44
4.2.1 Osteoporosis 45
4.2.2 Rheumatoid arthritis 45
4.2.3 Hammertoe 45
4.2.4 Bunions 46
4.2.5 Others 46
4.3 Market Dynamics 46
4.3.1 Drivers 47
22.214.171.124 Increase in the prevalence of osteoporosis 47
126.96.36.199 Increasing in number of road accidents 48
188.8.131.52 Increase in number of diabetic foot reconstruction 48
184.108.40.206 Rise in elderly population 48
220.127.116.11 Rise in the number of outpatient procedures 49
4.3.2 Restraints 49
18.104.22.168 Huge cost of foot and ankle devices 49
22.214.171.124 Complications and risks associated with foot and ankle procedures 49
126.96.36.199 Inadequate reimbursement policies 49
188.8.131.52 Product recall 50
184.108.40.206 Dearth of skilled professionals 50
220.127.116.11 Stringent regulatory framework and labeling requirement 50
4.3.3 Opportunities 51
18.104.22.168 Technological advancement in foot and ankle devices 51
22.214.171.124 In-depth transformation in prosthetic care 51
126.96.36.199 Growing popularity of minimally invasive surgeries 51
188.8.131.52 Rise in use of biomaterial in ortho-related surgeries 51
184.108.40.206 Increase in healthcare spending in improvising healthcare facilities 52
220.127.116.11 Market expansion opportunities in emerging nations 52
4.3.4 DRO – Impact Analysis 53
4.4 Key Stakeholders 54
5 End-Users 55
5.1 Overview 55
5.2 Hospitals 55
5.3 Ambulatory Care 56
5.4 Trauma Centers 56
6 Regions 58
6.1 Overview 58
6.1.1 North America 60
18.104.22.168 Market overview 60
6.1.2 Europe 61
22.214.171.124 Market overview 61
6.1.3 APAC 62
126.96.36.199 Market overview 62
6.1.4 Rest of the World 64
188.8.131.52 Market overview 64
7 Competitive Landscape 67
7.1 Competitor Comparison Analysis 67
7.1.1 M&A Analysis 68
8 Vendor Profiles 69
8.1 Johnson & Johnson (DePuy Synthes, Inc) 69
8.1.1 Business Units 74
8.1.2 Geographic Revenue 74
8.1.3 Business Focus 75
8.1.4 SWOT Analysis 76
8.1.5 Business Strategies 76
8.2 Zimmer Biomet Holdings, Inc 77
8.2.1 Overview 77
8.2.2 Business Units 83
8.2.3 Geographic Revenue 84
8.2.4 Business Focus 84
8.2.5 SWOT Analysis 85
8.2.6 Business Strategies 85
8.3 Stryker 86
8.3.1 Overview 86
8.3.2 Business Units 91
8.3.3 Geographic Revenue 92
8.3.4 Business Focus 92
8.3.5 SWOT Analysis 93
8.3.6 Business Strategies 93
8.4 Smith & Nephew, Inc 94
8.4.1 Overview 94
8.4.2 Business Units 99
8.4.3 Geographic Revenue 101
8.4.4 Business Focus 101
8.4.5 SWOT Analysis 102
8.4.6 Business Strategies 102
8.5 Arthrex, Inc. 103
8.5.1 Overview 103
8.5.2 Business Focus 105
8.5.3 SWOT Analysis 105
8.5.4 Business Strategies 106
8.6 Wright Medical Group N.V. 106
8.6.1 Overview 106
8.6.2 Business Units 111
8.6.3 Geographic Revenue 111
8.6.4 Business Focus 112
8.6.5 SWOT Analysis 112
9 Companies to Watch for 114
9.1 Orthofix International N.V. 114
9.1.1 Overview 114
9.1.2 Key Highlights 114
9.1.3 Business Strategies 114
9.2 B. Braun 115
9.2.1 Overview 115
9.2.2 Key Highlights 115
9.2.3 Business Strategies 115
9.3 OMNIlife Science 116
9.3.1 Overview 116
10 Other Vendors 117
ïƒ˜ Abbreviations 118
Please enter your personal details below
Zimmer Biomet Holdings, Inc.
Smith & Nephew, Inc.
Wright Medical Group N.V.