The orthotic appliances is
being manufactured and distributed all across the globe at high rates today
owing to the growing demand and acceptance for the same. With the overall
orthotic growing, orthopedics devices are estimated to grow at much healthier
rates in the coming decade.
Foot and Ankle Devices
Market is no more an option these days, while it has become a necessity
currently. Foot and ankle devices are basically used for the rehabilitation of
human foot or ankle system. Foot-Ankle extremity is one of the largest market
segments within the category of extremities. The area includes all the muscular
parts starting from the ankle joint or the tibiofibular-talus joint and
includes muscles, ligaments and tendons associated with the fore-foot, mid-foot
and hind-foot region. The foot and ankle devices market include devices that
help in ligament repair and reconstruction procedures including arthrodesis,
joint replacement and internal fixation.
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Market
Trends:
According to IndustryARC,
The Foot and Ankle Devices Market is poised to grow well during the forecast
period, 2014-2020. The demand will increase due to growing geriatric population
who is most prone to foot and ankle related disorders.
The demand for Foot and
Ankle Prosthetics has witnessed tremendous increase with the advent of advanced
materials such as Carbon Fiber. The introduction of Microprocessor Controlled
Prosthetic Foot has increased the comfort level of patients in terms of
locomotion. Its basic aim is to keep the foot firm and comfortable during
movement.
Market
Driving Factors:
Few top factors among the
many, which are acting as market drivers:
- Increasing demand for orthotic devices
- Growing acceptance of foot orthotic insoles
- Overall rising demand for the medical wearable devices is linked to propel the foot and ankle devices segment as well
- The higher acceptance rate among consumers, patient affordability and sport related injuries are increasing with passing years which is boosting the global market
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Application/Segment
Wise Brief:
The prosthetics segment
includes single axial prosthesis, multi axial prosthesis, solid ankle cushioned
heel (SACH), microprocessor controlled prostheses and dynamic response
prostheses. The demand for foot and ankle prosthetics has witnessed tremendous
increase with the advent of advanced materials such as carbon fiber. The
introduction of microprocessor controlled prosthetic foot increased the comfort
level of the patient with respect to locomotion. The aim of developing a
prosthetic foot is to keep it firm and comfortable during movement. Bracing and
support devices market is segmented into two types as soft bracing and hinged
bracing. They are advised based on the type of injury such as minor strain or
twist. They braces are also useful during postoperative recuperation.
Regional
Analysis:
Owing to increasing
awareness of the cure and relief offered by Foot and Ankle Devices, and the
growing acceptance rates among the consumers in North America, this region is
accounted to be the largest market globally. Improving incomes (patient
affordability) and rising injuries are other main reasons for the growth of the
market share in North America.
On the other hand, APAC is
expected to contribute to a major share of the overall market during the
forecast period 2015-2020, owing to the rise in number of sports injuries,
growing aging population in China. China will thus play a healthy role in
driving the overall Foot and Ankle Devices Market, in the coming few years.
REPORT
SCOPE: Market Segmentation:
On thorough understanding,
report experts of IndustryARC have segmented the Foot and Ankle Device Market into
4 broad types based on the factors given further below. These are classified
into narrower segments whose study and market information is completely
provided in this report.
- By Type Devices: External and Internal Fixation Devices, Soft Tissue Orthopedic Devices and Joint Implants.
- By Prosthetics: Solid Ankle and Cushion Heel (SACH), Single Axial Prostheses, Multi Axial Prostheses and Others.
- By Bracing and Support: Soft and Hinged Braces.
- By Geography: North America, Europe, APAC and ROW.
Key
Market Players:
40+ industries of the Foot
& Ankle Devices Market are analyzed in depth based on various aspects like
Company Overview, Developments, Product Portfolio, Industry Financials, SWOT
Analysis and Future Predictions by IndustryARC market experts and included in
this research report. Among the entire list, few of the notable players
mentioned are:
- Stryker Corporation
- Biomet, Inc.
- Mondeal Medical Systems GmbH
- Arthrex, Inc.
- Wright Medical Technology, Inc.
- Zimmer Holdings, Inc.
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