Pune, India -- (SBWIRE) -- 01/15/2020 -- A recent report published by Infinium Global Research on Foot and Ankle Devices Market (Cause of Injury - Trauma, Diabetes, Neurological Disorders, and Others; Application - Hammertoe, Trauma, Osteoarthritis, Rheumatoid Arthritis, Neurological Disorders, Bunions, and Osteoporosis; Product - Bracing and Support, Joint Implants, Soft Tissue Orthopedic Devices, Orthopedic Fixation, and Prosthetics): Global Industry Analysis, Trends, Market Size and Forecasts to 2024. According to the report, the global foot and ankle devices market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.

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Foot and Ankle Devices Market: Insight

Foot and ankle devices are used to provide or restore stability by placing them within the body's skeleton. These help in correcting the problems associated with the bone and joints such as injuries or deformities. These are boon for those people, who want to perform better in their life and transcend the limitation of the physical problem of their bodies.

Rising Old Age Population and Increased Prevalence of Obesity is Contributing to the Growth of the Industry

Factors such as growing elderly population, higher incidences of osteoarthritis, osteoporosis and musculoskeletal disorders are helping to grow the market rapidly. Additionally, higher incidence of sports injuries, technological innovations in the foot and ankle device market, rising old age population and increased prevalence of obesity are contributing to the growth of this market. Some of the long term safety concerns associated with the use of metal implants are likely to restrict market growth. But, technological advancements such as bio-absorbable implants coupled with an increase in the success rate of these implants and fixators in the emerging market would serve as an opportunity for this market.

North America is the Dominant Player in the Industry

Geographically, North America is the dominant player in this market. North American countries such as the U.S. and Canada are the largest markets for the foot and ankle devices. This is because of the greater financial standing of patients, higher the acceptance rate for advanced technologies, and a significantly large number of sports injuries, well-established health care facilities, easy access to healthcare facilities and high levels of awareness about foot and ankle disorder in this region are estimated to drive the foot and ankle device market in this region. Asia-Pacific the market is growing at the highest CAGR during the forecast period, due to growing the elderly population which is susceptible to osteoporosis, osteoarthritis, injuries, and obesity, which is likely to contribute to the growth of this market.

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Foot and Ankle Devices Market: Segmentation

The report on the global foot and ankle devices market covers segments such as the cause of injury, application, and product. On the basis of the cause of injury the global foot and ankle devices market is categorized into trauma, diabetes, neurological disorders, and others. On the basis of application, the global foot and ankle devices market is categorized into a hammertoe, trauma, osteoarthritis, rheumatoid arthritis, neurological disorders, bunions, and osteoporosis. On the basis of product, the global foot and ankle devices market is categorized into bracing and support, joint implants, soft tissue orthopedic devices, orthopedic fixation, and prosthetics.

Foot and Ankle Devices Market: Competitive Landscapes

The report provides profiles of the companies in the global foot and ankle devices market such as Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc., Smith & Nephew PLC. , Wright Medical Technology, Inc., Integra Lifesciences Holdings Corporation, Tornier N.V., Ossur, Acumed, LLC, and Extremity Medical, LLC.

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