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(Medical-NewsWire.com, June 20, 2017 ) The North America Foot and Ankle Devices Market has been estimated at USD 1.49 Billion in 2016 and is projected to reach USD 2.11 Billion by 2021, at a CAGR of 7.3% during the forecast period from 2016 to 2021.
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Foot and ankle medical devices are used to treat a variety of indications. The devices included are those for the ankle joint, subtalar joint, midfoot and forefoot and for the toe digits. Ankle devices which include total ankle implants, ankle intramedullary nails, ankle plate and screw systems and ankle external fixators are used to treat arthritis of the ankle or traumatic ankle injuries.
The market for Foot and Ankle Devices is mainly driven due to increase in prevalence of diabetes and increase in foot and leg injuries during sports and accidents. Also, rise in the aging population who are at a risk of bone injuries and technological advancements. But, the market growth is restrained due to high cost of devices and stringent FDA regulations and guidelines.
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North America market for Foot and Ankle Devices is segmented based on Product and Cause of injury. By Products, the market is further sub-segmented into Orthopedic Implants and Devices, Prostheses, Bracing and Supporting Devices. By Cause of Injury, the market is further sub-segmented into Trauma, Diabetes, Neurological Disorders, osteoporosis, rheumatoid arthritis, osteoarthritis, hammertoe, bunions. Orthopedic Implants and Devices contribute the largest share in the market. Prosthetic devices are expected to witness a lucrative growth during the forecast period due to the technological advancements and the introduction of more efficient devices.
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Geographically, North America market for Foot and Ankle Devices is segmented into U.S. and Canada. North America is the biggest market in terms of market share across the globe, followed by Europe. The market in North America is highly driven due to higher acceptance rate, patient affordability and large number of sports injuries. The market will grow substantially in the coming decade, owing to advances in technology such as microprocessor based joints, greater battery life, and additional shock absorption.
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Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc., Smith & Nephew plc , Wright Medical Technology, Inc. , Integra LifeSciences Holdings Corporation , Tornier N.V., Össur, Acumed and Extremity Medical, LLC, are the major players of North America Foot and Ankle Devices market.
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