The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s foot and ankle devices market report forecasts the foot and ankle devices market size to grow to $7.48 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Foot And Ankle Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/foot-and-ankle-devices-global-market-report

Foot And Ankle Devices Market Size Forecast
The global foot and ankle devices market is expected to grow from $5.13 billion in 2022 to $5.61 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The foot and ankle devices market size is expected to grow to $7.48 billion in 2027 at a CAGR of 7.4%.

North America held the largest foot and ankle devices market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Foot And Ankle Devices Market Driver ­– Increase In Rates Of Orthopedic Disorders
For instance, according to World Health Organization, a Switzerland-based government agency, musculoskeletal diseases affected 1.71 billion people worldwide in 2021, making them the major cause of disability. Apart from that, there are 568 million people who suffered from low back discomfort. Therefore, the growing incidence rates of orthopedic disorders are driving the growth of the foot and ankle devices market.

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Key Foot And Ankle Devices Market Trend – Product Innovations
Companies operating in the foot and ankle market are going through new product innovations to gain a competitive advantage. For instance, in September 2020, Stryker Corporation, a US-based medical technology company, launched the AxSOS 3 Ankle Fusion System. It is an ankle fusion titanium plate system that helps for the fusion of the tibiotalar joint. ASOS 3 Ankle Fusion System was developed with the help of Stryker’s proprietary orthopedic design and development system technology.

Foot And Ankle Devices Market Segment
1) By Product: Bracing and Support Devices, Prostheses
2) By Cause Of Injury: Trauma, Diabetes, Neurological Disorders, Other Causes
3) By End User: Hospitals, Ambulatory Surgery Centers, Orthopedic Clinics, Rehabilitation Centers, Other End Users

Foot And Ankle Devices Market Major Players and Strategies
Major players in the foot and ankle devices market are Aap Implantate Ag, Acumed LLC, Advanced Orthopaedic Solutions, Arthrex Inc., Biomet Inc., Conmed Corporation, DePuy Synthes Companies, DonJoy Inc., Extremity Medical LLC, Fillauer LLC, Groupe Fh Ortho (A Subsidiary of Olympus Corporation), Integra LifeSciences Holdings Corporation, Medartis Inc., Mondeal Medical Systems GmbH., Ortho Solutions UK Ltd., Orthofix Medical Inc., Össur HF, Ottobock Healthcare AG, Smith & Nephew PLC., Stryker Corporation, Tornier N.V, Vilex in Tennessee Inc., Wright Medical Technology Inc., and Zimmer Biomet Holdings Inc.

In June 2021, Paragon 28, a US-based orthopedic medical device company, acquired Additive Orthopedics for an undisclosed amount. Through this acquisition, Paragon expands improved its product portfolio and significantly accelerated the company’s strategy to gain a mechanical advantage in smart tools, artificial intelligence, and advanced technology to improve patient outcomes. Additive Orthopedics is a US-based orthopedic devices company, which offers innovative orthopedic implants for feet and ankles, and provides solutions by the use of 3D printing technology to its customers.

The Foot And Ankle Devices Global Market Report 2023 covers regional data on foot and ankle devices market size, foot and ankle devices market trends and drivers, opportunities, strategies, and foot and ankle devices market competitor analysis. The countries covered in the foot and ankle devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Foot and ankle devices are medical devices that are used to treat foot and ankle diseases through surgical procedures. These devices are used to reduce foot pain caused by medical conditions such as arthritis, bunions, plantar fasciitis, flat feet, and diabetes.

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