The global sales of foot and ankle devices is estimated to be worth USD 4,934.5 million in 2024 and anticipated to reach a value of USD 8,754.0 million by 2034. Sales are projected to rise at a CAGR of 5.9% over the forecast period between 2024 and 2034. The revenue generated by Foot and Ankle Devices in 2023 was USD 4,659.6 million. The industry is anticipated to exhibit a Y-o-Y growth of 5.9% in 2024.
The foot and ankle devices include fusion plates, screws, orthotics which includes braces and supports, small joint implants, and more that are used to treat various injuries, deformities, and disorders in the foot and ankle.
The basic applications of these devices is stabilization of fractures, correction of deformity, treatment of arthritis, and improvement in mobility. They support rehabilitation after surgery or injury by providing structure to take pressure off the injury and aid proper alignment and healing.
It is recommended for patients with both acute injuries-fracture, sprains-and chronic ones, arthritis and tendonitis. Generally, they are used by athletes, older patients, and those with musculoskeletal problems.
Global Foot and Ankle Devices Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 4,659.6 million |
| Estimated Size, 2024 | USD 4,934.5 million |
| Projected Size, 2034 | USD 8,754.0 million |
| Value-based CAGR (2024 to 2034) | 5.9% |
The foot and ankle devices are implants that are used in treating deformities, joint replacement and conditions affecting the foot and ankle. The devices contain implants for joint replacement and prosthetics. They are majorly used for stabilization of fractures, tendon injuries, and other deformities such as bunions and flat feet.
These devices are recommended for patients with acute injuries, including fractures and dislocations. They are also indicated for those with chronic conditions, such as arthritis and congenital deformity. Physicians typically recommend these devices to patients-surgeries by orthopedic surgeons, podiatrists, and sports medicine specialists during and after surgery, or in rehabilitation for proper recovery.
These devices also serve diabetic patients who are suffering from foot ulcers, infections, or neuropathy. These devices are advisable because they do not create more complications and also help aged patients in restoring their mobility.
The forecast period anticipates substantial growth in the foot and ankle devices industry, with an incremental opportunity of USD 3,819.4 million. Projections indicate that the market will expand to 1.9 times its current value by 2034.
Increase in technology and clinical applications are some of the reasons for the rise in the number of foot and ankle devices. Applications have increasingly been extended to sports medicine to help athletes recover more quickly. It also aid in the management of serious diabetic foot conditions, and prevent amputation.
Further, due to the growth in joint replacement surgeries, ankle joint prosthetics have shown an upward surge. The rising incidence rates of arthritis and other musculoskeletal diseases in aging populations further acts as one of the driving factors.
Various elements have come together to spur current growth in demand for foot and ankle devices. Global aging population, susceptibility to degenerative joint diseases has increased demand for such joint replacement and support devices. Growing awareness for foot and ankle injuries, and the growing progress of minimally invasive surgeries, continue to propel this market.
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Comparative analysis of fluctuations in compound annual growth rate (CAGR) for the global foot and ankle devices market between 2023 and 2024 on six months basis is shown below.
By this examination, major variations in the performance of these markets are brought to light, and also trends of revenue generation are captured hence offering stakeholders useful ideas on how to carry on with the market's growth path in any other given year. January through June covers the first part of the year called half1 (H1), while half2 (H2) represents July to December
The table presents the expected CAGR for the global foot and ankle devices market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 7.5%, followed by a slightly slower growth rate of 7.2% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 6.6% (2023 to 2033) |
| H2 | 6.3% (2023 to 2033) |
| H1 | 5.9% (2024 to 2034) |
| H2 | 5.4% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 5.9% in the first half and decrease moderately at 5.4% in the second half. In the first half (H1) the market witnessed a decrease of 70 BPS while in the second half (H2), the market witnessed a decrease of 90 BPS.
Growing Application of Foot and Ankle Devices in the Sports Injuries Surges its Market Growth
Increasing number of sports injuries, and the growing emphasis of sports athletes on performance and recovery for athletes significantly contributes to the growth of the foot and ankle devices market. It aid sports injuries such as fractures, torn ligaments, sprains, and tendonitis that remain common in the foot and ankle regions of the body occurring due to considerable stress falling on the region while performing different physical activities.
These devices are of prime importance while treating and managing sport injuries as it provides stability, and pain relief. Braces, orthotics, and supports are prescribed to prevent injury or to assist in a rehabilitation after an injury during a sport.
The surgical implantation with screws, plates, or joint replacements are indicated to sports athletes to reestablish functionality and mobility. These devices enable the athletes to recover and get back into their respective sport in reduced time.
Advancement in design and materials, like lightweight, strong, flexible devices, can further improve comfort and functionality, therefore making such devices even more attractive for athletes can contribute to their significant growth.
Growing Innovation and Technological Advancements can Aid Manufacturers to Stay Ahead of the Market
Innovation in materials used to make foot and ankle devices have significant scope of growth for manufacturers. This would provide an opportunity to manufacture such products that improve patient outcomes, thereby meeting a wide array of other needs.
Advanced materials can assist manufacturers in enhancing the durability and functionality of their devices which can significantly contribute to their increased adoption rates among medical professionals and end-users. Materials such as carbon fiber and titanium are used increasingly to make the devices stronger and more flexible which allow quicker recovery with less discomfort for the patients.
Therefore, to remain competitive, manufacturers can continue working on technological advancement-such as embedding smart devices for monitoring real-time data on movement and pressure of healing progress. Overall, materials and technological innovations can increasingly allow manufacturers to meet the expanding needs of both the sports and medical industries, creating new opportunities for growth and differentiation in an increasingly competitive market.
Rise in Number of Elective Surgeries Anticipates the Growth of the Market
Increase in number of global population undergoing elective surgeries for conditions such as arthritis, bunions, fractures, and ligament injuries significantly contributes to the growth of the market. Moreover, growing recommendation of healthcare professionals to patient to undergo joint replacement and corrective surgeries further surges the growth of the market.
These increase in number of patients undergoing elective surgeries surges demand for the use of foot and ankle implants, such as joint replacement, screws, plates, braces, and orthotic supports. These devices help in stabilizing the foot and ankle and prevent further injury while patients regain their mobility.
Plates and screws implanted post-surgery maintain alignment of bones and joints during the healing process, enhancing long-term outcomes and thus reducing revision surgeries.
Moreover, the advent of medical technology, coupled with rising healthcare expenditure and greater access to medical services, continue to support the foot and ankle devices market in the near future as they have become vital in post-surgical recovery and rehabilitation.
Availability of Alternative Non-Surgical Treatment Options Restrains the Growth of these Devices in the Market
Various alternatives to foot and ankle devices can hinder growth because they provide less invasive yet often effective treatments. One of the most common alternatives includes physical therapy through exercise and rehabilitation programs that strengthen muscles and enhance flexibility to ensure painless living without surgical interference.
Pain relievers, anti-inflammatory medications, and corticosteroid injections are some of the medications that can temporarily or permanently reduce symptoms without surgical implants for disorders of the foot or ankle.
Nonsurgical braces and splints immobilize and support the foot or ankle when there is minor injury. These are a couple of alternatives that can reduce demand for foot and ankle devices as they are available at lower-cost, provide effective solutions and have limited risks as compared to surgery. These factors in total impacts the growth and adoption rates for foot and ankle devices.
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The global foot and ankle devices industry recorded a CAGR of 5.9% during the historical period between 2019 and 2023. The growth of foot and ankle devices industry was positive as it reached a value of USD 4,659.6 million in 2023 from USD 3,437.9 million in 2019.
Elective procedures often utilize devices of the foot and ankle in the management of pre- and postsurgical care. For instance, joint replacement surgeries, such as those involving ankle arthroplasty, require implants to return the joint to its previous functionality. Many fractures or severe ligament injuries depend on internal fixation devices to maintain alignment while it heals.
The advancement of surgical techniques, better understanding of orthopedic conditions, and the prevalence of chronic diseases have significantly contributes to the increased sales of foot and ankle devices. The demand has also been contributed by the increase in elective surgeries, especially joint replacements.
Recent inventions in the market include 3D-printed implants with patient-specific solutions and bioresorbable materials, which do not require secondary surgeries. For instance, in February 2024, Restor3d Inc., a provider of musculoskeletal implants launched additively manufactured foot and ankle products at the American College of Foot & Ankle Surgeons (ACFAS) Annual Conference in Florida.
The positive influences from advances in material science, such as lightweight and strong materials, further drives the growth of the market which is further supported by the increase in access to healthcare within emerging markets.
Tier 1 companies comprise market leaders with a market revenue of above USD 100 million capturing significant market share of 58.6% in global market. These market leaders are characterized by high production capacity and a wide product portfolio.
These market leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base. Prominent companies within tier 1 include Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Tier 2 companies include mid-size players with revenue of USD 50 to 100 million having presence in specific regions and highly influencing the local market and holds around 28.7% market share. These are characterized by a strong presence overseas and strong market knowledge. Prominent companies in tier 2 include Smith & Nephew plc, Arthrex Inc and Integra LifeSciences Holdings Corporation.
Finally, Tier 3 companies, act as suppliers to the established market players. They are essential for the market as they specialize in specific products and cater to niche markets, adding diversity to the industry.
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The section below covers the industry analysis for the foot and ankle devices market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided. The USA is anticipated to remain at the forefront in North America, with a value share of 87.7% through 2034. In Asia Pacific, South Korea is projected to witness a CAGR of 4.8% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| UK | 5.9% |
| China | 6.2% |
| Japan | 5.5% |
| South Korea | 4.8% |
| India | 4.3% |
| Saudi Arabia | 3.6% |
| Germany | 2.8% |
USA Foot and Ankle Devices market is poised to exhibit a CAGR of 2.4% during the forecast period. Currently, it holds the highest share in the North American market, and the trend is expected to continue during the forecast period.
Increased innovation in foot and ankle devices creates greater device efficacy, comfort, and better patient outcomes; thus, massively contributing to the market growth in the USA Usage of advanced materials has been one of the main drivers of innovation for devices and implants used in treating foot and ankle disorders.
Moreover, inclusion of new lightweight composites and bioresorbable polymers for improving device functionality and longevity of the devices further anticipates the market growth.
Technologies like 3D printing enable the production of customized implants and orthotics that offer improved fitting and performance tailored to individual needs. Many of the companies are emphasizing on launching of new products to the market using these technologies.
For instance, in February 2021, FDA approved Patient Specific Talus Spacer, manufactured by Additive Orthopaed. This new product is a 3D printed implant that can be used in talus replacement surgery.
This helps companies to be more competitive as well as meet the emerging needs among patients. These new products address emergent medical trends, that improve outcomes and reduce recovery times.
China currently holds for a significant share in the foot and ankle devices market. Chinese foot and ankle devices is anticipated to grow at a CAGR of 4.3% over sthe forecast period.
Increased sports participation both at amateur and professional levels increases the incidence of sport-related injuries-fractures, sprains, and ligament tears. This demand for injury management is, therefore, driven to increase the need for foot and ankle devices like braces, orthotics, and sophisticated surgical implants.
Sports and physical fitness have turned out to be so important in China that the tendency now shifts to preventive care and injury rehabilitation. It thus sets a very high demand for effective solutions among active athletes and individuals to recover as soon as possible and return to their activities.
Greater investment in the sports medicine and orthopedic technology areas, as a result of the growing sport industry, accelerates the pace at which devices can be innovatively designed and functionally built. Therefore, the segment growth in sports could lead to sustained demand for advanced foot and ankle devices in China.
Germany is expected to have a strong foothold when it comes to technology innovation. In 2023 the country is projected to account for almost 14.7% of the Foot and Ankle Devices Market.
The rising incidence of chronic disorders in Germany contributes significantly to the increase in demand for foot and ankle devices as majority of the chronic conditions result in complications arising in the feet and ankles.
For example, diabetes can cause foot ulcers, neuropathy, and poor circulation that require special devices to manage and prevent. Similarly, arthritis, which tends to cause pain in the joints, deformation, and limited mobility, may also contribute to the demand for supportive braces and orthotics.
As this increases in prevalence, so does the need for active treatments that are effective, quality-enhancing involving the foot and ankle devices. Various devices, from custom orthotics and pressure-relief insoles to technologically advanced implantable devices, are required for maintaining symptoms and disease conditions and avoiding further deterioration.
Moreover, early diagnosis and comprehensive treatment in regard to chronic diseases raise the awareness of using foot and ankle devices as a part of general treatment. This increasing demand due to the prevalence of chronic diseases fuels the market development.
The section contains information about the leading segments in the industry. By product, the orthopedic implants and devices segment is estimated to grow at a CAGR of 4.1% throughout 2034.
| Product | Orthopedic Implants and Devices |
|---|---|
| Value Share (2024) | 4.1% |
High prevalence of joint and bone conditions such as arthritis, fractures, and deformities buys the need for treatment using an orthopedic implant. Such implants are very crucial to stabilize bones and joints including screws, plates, and joint replacements. The innovative material and design elements thus influencing greater levels of patient outcomes and recovery.
Increased elective surgeries, which include joint replacements, corrective procedures push the demand for implants even higher since they are integral to such procedures. The increasing focus on precision and personalization allows implants to be made according to particular needs for greater effectiveness and acceptability.
These factors together points out that orthopedic implants and devices have the largest share in the foot and ankle devices market.
| End Use | Hospitals |
|---|---|
| Value Share (2034) | 3.6% |
The hospitals segment is forecast to account for majority of the revenue in the foot and ankle devices market by 2034 end. It is also poised to expand at a CAGR of 2.7% across the forecast period.
Complex foot and ankle procedures typically involving surgery for fracture fixation, joint replacement, corrective surgery, among others, are usually performed in a hospital setting. For this reason, advanced medical devices are required. Specialized surgical teams and comprehensive post-operative care support the use of sophisticated foot and ankle devices in hospitals, including orthopedic implants and custom orthotics.
The infrastructure and funds required to absorb the enhanced costs for advanced foot and ankle devices, which include the latest technologies and materials, is available in these hospitals. They can invest in a state-of-the-art facility and infrastructure for proper diagnosis, surgical intervention, and post-operative monitoring, which would improve the effectiveness and adoption of these devices.
This dominance is further fueled by the insistence on the highest levels of patient care, and the accompanying demands for extremely specific and reliable machinery within a hospital environment. The utilization of foot and ankle devices as part of an integrated treatment program, and an increasing number of surgical operations being conducted in hospitals, also contribute to the strengthening of their market leader position.
Substantial investments are seen in the foot and ankle devices industry towards research and development in order to drive innovations. Another key strategic focus of these companies is to actively look for strategic partners to bolster their product portfolios and expand their global market presence.
In addition, growing emphasis of company on participating in international conferences for demonstrating their new products to the market and expanding their customer base.
Recent Industry Developments in Foot and Ankle Devices Market
In terms of Product, the industry is divided into Orthopaedic Implants and Devices (Joint Implants {Ankle Implants, Subtalar Joint Implants and Phalangeal Implants}), (Fixation Devices {Internal Fixation Devices, External Fixation Devices}), (Soft Tissue Orthopaedic Devices {Musculoskeletal Reinforcement Devices, Artificial Tendons & Ligaments}), Bracing and Support Devices (Soft Bracing & Support Devices, Hinged Braces & Support Devices, Hard Braces & Support Devices), Prostheses (Solid Ankle Cushion Heel Prostheses, Single-Axial Prostheses, Multiaxial Prostheses, Dynamic Response and Microprocessor-Controlled Prostheses)
In terms of Application, the industry is segregated into foot and ankle devices for trauma & hairline fractures, rheumatoid arthritis & osteoarthritis, diabetic foot diseases, ligament injuries, neurological disorders, hammertoe and others
The industry is classified by end user as foot and ankle devices for hospitals, ambulatory surgery centers, orthopaedic clinics and rehabilitation centers.
Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa (MEA) have been covered in the report.
The global foot and ankle devices industry is projected to witness CAGR of 5.9% between 2024 and 2034.
The global foot and ankle devices industry stood at USD 4,659.6 million in 2023.
The global foot and ankle devices industry is anticipated to reach USD 8,754.0 million by 2034 end.
India is set to record the highest CAGR of 4.3% in the assessment period.
The key players operating in the global foot and ankle devices industry include Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, Arthrex Inc, Integra LifeSciences Holdings Corporation, Acumed LLC, Enovis Corporation, Exactech, Inc., Lavender Medical Ltd., and Thuasne USA
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 5.1. By Product 5.2. By Application 5.3. By End User 5.4. By Region 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product 6.1. Orthopedic Implants and Devices 6.1.1. Joint Implants 6.1.1.1. Ankle Implants 6.1.1.2. Subtalar Joint Implants 6.1.1.3. Phalangeal Implants 6.1.2. Fixation Devices 6.1.2.1. Internal Fixation Devices 6.1.2.2. External Fixation Devices 6.1.3. Soft Tissue Orthopedic Devices 6.1.3.1. Musculoskeletal Reinforcement Devices 6.1.3.2. Artificial Tendons & Ligaments 6.1.4. Bracing and Support Devices 6.1.4.1. Soft Bracing & Support Devices 6.1.4.2. Hinged Braces & Support Devices 6.1.4.3. Hard Braces & Support Devices 6.1.5. Prostheses 6.1.5.1. Solid Ankle Cushion Heel Prostheses 6.1.5.2. Single-Axial Prostheses 6.1.5.3. Multiaxial Prostheses 6.1.5.4. Dynamic Response 6.1.5.5. Microprocessor-Controlled Prostheses 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application 7.1. Trauma & Hairline Fractures 7.2. Rheumatoid Arthritis & Osteoarthritis 7.3. Diabetic Foot Diseases 7.4. Ligament Injuries 7.5. Neurological Disorders 7.6. Hammertoe 7.7. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End User 8.1. Hospitals 8.2. Ambulatory Surgery Centers 8.3. Orthopedic Clinics 8.4. Rehabilitation Centers 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 9.1. North America 9.2. Latin America 9.3. East Asia 9.4. South Asia and Pacific 9.5. Western Europe 9.6. Eastern Europe 9.7. Middle East and Africa 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Sales Forecast 2024 to 2034 by Product, Application, and End User for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Stryker Corporation 19.2. Zimmer Biomet Holdings, Inc. 19.3. Smith & Nephew plc 19.4. Arthrex Inc 19.5. Integra LifeSciences Holdings Corporation
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Foot and Ankle Devices Market
