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(Medical-NewsWire.com, June 22, 2017 ) The Latin America Foot and Ankle Devices market has been estimated at USD 0.45 Billion in 2016 and is projected to reach USD 0.65 Billion by 2021, at a CAGR of 7.7% during the forecast period from 2016 to 2021.
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Foot and ankle devices are used to treat several foot and ankle injuries caused by diabetic foot, arthritis, bunions, hammertoes, and other orthopedic disorders. These devices are also used to replace the lost foot due to trauma, amputation, congenital deformity, or any other accident. The foot and ankle device market include devices that help in ligament repair and reconstruction procedures including arthrodesis, joint replacement and internal fixation.
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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 will. Also, growing geriatric population leading to bone injuries is driving the market growth. But, the market growth can be constrained due to lack of skilled personnel to handle equipment and huge cost of devices.
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Latin 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, Latin America market for Foot and Ankle Devices is segmented into Brazil, Mexico and Rest of Latin America. The market in Latin America is escalating with high CAGR. This can be attributed to the increasing aging population, increasing number of podiatrists, favorable healthcare systems, and rising awareness through conferences & symposia.
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 Latin America Foot and Ankle Devices market.
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