Foot and Ankle Devices Market Size - By Product (Bracing & Support, Joint Implants, Orthopedic Fixation, Prosthetics), By Application (Hammertoe, Trauma, Osteoarthritis, Rheumatoid Arthritis, Osteoporosis), By End-use & Global Forecast, 2024 – 2032

Foot and Ankle Devices Market Size

Foot and Ankle Devices Market size was valued at USD 5.3 billion in 2023 and is projected to witness 7.1% CAGR from 2024 to 2032, owing to increasing prevalence of orthopedic disorders coupled with rising geriatric population base Technological advancements pertaining to foot and ankle devices and rising incidence of trauma and accident cases is augmenting the product acceptance rate. Increasing awareness and initiatives to cater to appropriate diagnostic treatments and clinical benefits offered by foot and ankle devices will propel the market growth.
 

Additionally, increasing demand for minimally invasive surgeries for several orthopedic procedures has fueled the product adoption rate in several healthcare facilities globally. Developing countries are emphasizing the expansion of healthcare infrastructure and an increase in the number of specialized orthopedic clinics, subsequently boosting the foot and ankle devices market. Therefore, owing to factors such as aging population, an increase in the prevalence of chronic diseases, rising demand for minimally invasive surgical procedures, advancements in technology and product innovation have contributed to the growth of foot and ankle devices industry.
 

Foot and ankle devices are medical devices specifically designed to diagnose, treat, support, and manage conditions affecting the foot and ankle. These devices are used in a wide range of foot and ankle conditions, injuries, and disorders.

However, high cost of foot and ankle devices can pose a significant challenge and impede the foot and ankle devices market revenue. Foot and ankle devices incorporate advance orthopedic implants and prosthetics that can be expensive due to factors such as research and development costs, manufacturing complexity, and specialized materials. For instance, the cost of ankle implant can range between USD 5,000 to USD 35,000. Similarly, the cost of foot prosthetics can range between USD 15,000 to USD 50,000 and can vary according to the technology used in these devices. 
 

High cost of these devices can impact their market adoption and utilization rate thereby straining healthcare budgets and limiting the ability to provide these devices. The out-of-pocket costs associated with purchasing or accessing these devices can be a deterrent for patients, potentially leading them to opt for lower-cost alternatives or forgo treatment altogether. The market growth can be hindered in developing economies having comparatively low-income levels attributed to the high costs of these devices. Thus, the high-end pricing associated with advanced foot and ankle devices may drive down the acceptance rate of these devices, further hampering the business growth.
 

COVID-19 Impact

The recent outbreak of COVID-19 had negatively influenced the foot and ankle devices market revenue, specifically during the initial phase of 2020. The coronavirus outbreak proliferated the disease burden and hampered several global businesses including the healthcare sector, during the pandemic phase. These conditions severely impacted the f market size. Several hospitals and healthcare facilities globally experienced a significant decline in patient visits for diagnosis and treatment of orthopedic and other chronic diseases during the pandemic. As a result, elective surgeries, including foot and ankle surgeries were postponed or canceled. This reduction in surgical volume has directly affected the demand for foot and ankle devices and has resulted in a decline in their utilization.
 

The pandemic has disrupted global supply chains, affecting the manufacturing and distribution of medical devices, including foot and ankle devices. The foot and ankle devices market relies on complex global supply chains for the procurement of raw materials, components, and finished products. The pandemic disrupted these supply chains due to lockdown measures and travel restrictions thereby resulting in delays in manufacturing, shortage, and increased costs, negatively impacting market demand.
 

Several healthcare facilities witnessed a significant decline in patient visits and subsequently, a decrease in the diagnosis and treatment of foot and ankle conditions. Although later the market recovered, thereby mitigating the initial impact. Furthermore, as the number of COVID-19 infected patients significantly decreased and several healthcare facilities resumed delivering healthcare services, the procedural volume gradually returned to pre-pandemic levels.
 

Foot and Ankle Devices Market Trends

Increasing prevalence of orthopedic ailments is anticipated to increase the adoption of foot and ankle devices globally. The demand for orthopedic implants is driven by the increasing number of orthopedic surgeries and the growing prevalence of conditions such as osteoarthritis. For instance, according to the British Society for Rheumatology data, in 2021, around 40 million people in Europe were suffering from osteoarthritis. Foot and ankle devices aid in diagnosis and treatment of these chronic conditions by improving joint function and mobility. The aging population, sedentary lifestyles, unhealthy diets, and other risk factors contribute to the rising incidence of these diseases.
 

Age-related changes in bone density, joint degeneration, and mobility issues contribute to the prevalence of these disorders, driving the foot and ankle devices market demand. Additionally, increasing prevalence of obesity worldwide is closely associated with an increased risk of orthopedic disorders, including foot and ankle conditions. Technological advancements including imaging techniques, surgical instruments, and biomaterials, have improved the diagnosis, treatment, and outcomes of orthopedic disorders. Innovative foot and ankle devices with better functionality, durability, and patient comfort are being developed, stimulating market growth. Foot and ankle devices have proven effective and efficient in several orthopedic surgeries, thereby augmenting the product demand.
 

Foot and Ankle Devices Market Analysis

The orthopedic fixation segment accounted for 31% of the foot and ankle devices market share in 2022, due to several clinical benefits offered by orthopedic fixation devices in the management of several foot and ankle disorders. Orthopedic fixation devices, such as plates, screws, rods, and nails, are commonly used in orthopedic surgery to stabilize fractures, fuse bones, and support the healing process.
 

Orthopedic fixation devices provide stability to fractured bones, promoting proper alignment and immobilization. This stability helps prevent further displacement or movement of the fractured fragments, facilitating optimal healing and reducing the risk of complications. These devices play a crucial role in promoting bone healing. Additionally, orthopedic fixation devices enable surgeons to accurately align fractured bones and maintain proper bone length during the healing process.
 

Foot and ankle devices market size trauma segment held around USD 1.3 billion in 2022. Foot and ankle devices play a crucial role in managing trauma conditions, such as fractures, ligament injuries, and severe soft tissue damage. For instance, according to an article published by the Lancet Journal, in 2020, around 139 million people in Europe suffered from foot fracture. Foot and ankle devices, provide stability to fractured bones and help align & immobilize the fractured fragments, promoting proper bone healing and reducing the risk of malunion.
 

Trauma injuries often involve the joints of the foot and ankle. Devices like trauma fixation devices such as ankle braces or external fixators can provide support and protection to the injured joints, preventing excessive movement and reducing the risk of further damage. Following trauma-related surgeries, foot and ankle devices play a crucial role in the rehabilitation process. Devices like walking boots, knee braces, or orthotics provide support, stability, and protection during the recovery phase. Therefore, owing to clinical benefits offered by foot and ankle devices in the management of trauma cases is anticipated to drive the market growth.
 

Foot and ankle devices market from hospitals and clinics segment is set to expand at 6.5% CAGR through 2032. High adoption rate of advanced foot and ankle devices offering enhanced therapeutic outcomes and convenient surgical procedures would surge the patient preference for hospital setting. Increasing admissions with chronic conditions and growing disease-related awareness programs, as well as the availability of highly skilled healthcare professionals, are some other factors that are positively supporting the growth of the hospitals segment. There has been a noticeable increase in the prevalence of foot and ankle disorders, including osteoarthritis, fractures, ligament injuries, and sports-related injuries.
 

Hospitals are witnessing a higher demand for foot and ankle treatments, leading to increased adoption of devices that can effectively address these conditions. Hospitals are actively collaborating with orthopedic surgeons who specialize in foot and ankle conditions and promoting the utilization of appropriate devices and encourage the adoption of best practices in hospitals. Technological advancements in foot and ankle devices have expanded the scope of minimally invasive surgeries performed in hospitals. Additionally, aging population and related complications along with availability and accessibility to advanced foot and ankle devices will surge patient visits to hospitals and clinics, thereby propelling the segment revenue.
 

North America foot and ankle devices market size is predicted to reach USD 3.6 billion by 2032, attributed to numerous variables including the presence of key companies, an increasing prevalence of orthopedic diseases, and rising awareness regarding the benefits of foot and ankle devices among others. Ageing population are more prone to foot and ankle disorders such as osteoarthritis, fractures, rheumatoid arthritis and ligament injuries. The growing elderly population has contributed to the higher demand for foot and ankle devices to manage and treat these conditions. For instance, according to the NCBI data, in 2021, around 1.3 million adults in the U.S. were suffering from rheumatoid arthritis and is estimated to increase in the near future.
 

Availability of advance foot and ankle devices incorporated with enhance functionality, durability, and patient comfort will increase the product adoption rate in the region. As the incident cases of chronic ailment continues to rise in the region, the demand for efficient, proven, and effective foot and ankle devices is projected to propel significantly. Thus, supporting initiatives aimed at improving healthcare outcomes, rising healthcare expenditure and increasing disease prone population would drive the regional revenue share positively.
 

Foot and Ankle Devices Market Share

Some of the major companies operating in the foot and ankle devices market are

• Acumed LLC
• Arthrex, Inc.
• Conmed Corporation
• DJO LLC
• Enovis
• Johnson & Johnson
• Medartis AG
• Orthofix Medical Inc.
• Össur
• Ottobock SE & Co. KGaA
• Paragon 28
• Smith & Nephew plc
• Stryker Corporation
• Zimmer Biomet Holdings, Inc.

These leading companies are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Foot and Ankle Devices Industry News:

• In December 2022, Enovis Corporation announced that they have received the U.S. FDA approval for the STAR PSI System. The STAR PSI System provides a personalized pre-operative plan helps to review a 3D visualization of the patient’s ankle joint, including information about any existing implants and/or bone defects, to plan for the total ankle replacement case. This regulatory approval helped the company to enhance their R&D capabilities and increase their business revenue.
   
• In February 2022, DePuy Synthes a subsidiary of Johnson & Johnson announced the acquisition of CrossRoads Extremity Systems, a manufacturer of foot and ankle devices. This acquisition helped the company to enhance their capabilities in orthopaedic, podiatric and medtech advancements through both internal and external innovation and deliver technologically advanced products.
   

This foot and ankle devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume (Units) from 2018 to 2032, for the following segments:

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Market, By Product

• Bracing & Support
• Joint Implants
• Soft Tissue Orthopedic Devices
• Orthopedic Fixation
• Prosthetics

Market, By Application

• Hammertoe
• Trauma
• Osteoarthritis
• Rheumatoid Arthritis
• Neurological Disorders
• Osteoporosis
• Others

Market, By End-use

• Hospitals
• Ambulatory Surgical Centers
• Orthopedic Clinics
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Sweden
  • The Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Egypt
  • Turkey