Foot and Ankle Devices Market Analysis

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.