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Foot and Ankle Devices Market – Witness Steady Growth During the Forecast Period 2020-2027 by Smith & Nephew, Wright Medicalgroup N.V, Stryker, Anthrex Inc., Zimmer Biomet, Ossur, Integra Lifesciences Corporation, J&J (Depuy Synthes), Acumed, LLC , Extremity Medical, LLC

Global Foot & Ankle Devices Market report further cast light on dominant competitors who play an integral part in satisfying customer’s necessities by all means. It considers that offering in-depth analysis of leading players is highly essential in order to present an intact and precise market study and therefore it includes organizational, financial, technical, environmental and development related analysis into market competitors and rivalry between them. Strategic and tactical business plans applied by the various players are also evaluated in the report, which typically covers recent product launches and business expansions through mergers, ventures, amalgamations, and partnerships as well as branding and promotional activities.

Foot and Ankle Devices report comprises evaluation of production process, methodologies, plant locations, raw material sources, serving segments, product specifications, product line-up, import-export, technologies, equipment, value chain, pricing structure, manufacturing cost, brands, patents, and participant’s global presence. It also draws attention to crucial assessments based on their financial ratios, capital investment, sales volume, gross margin, profitability, revenue model, revenue outcome, and growth rate.

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MARKET INTRODUCTION

The global foot & ankle devices market accounted to US$ 2,038.24 Mn in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019 – 2027, to account to US$ 4,084.97 Mn by 2027.

Key Competitors In Market are Smith & Nephew, Wright Medicalgroup N.V, Stryker, Anthrex Inc., Zimmer Biomet, Ossur, Integra Lifesciences Corporation, J&J (Depuy Synthes), Acumed, LLC , Extremity Medical, LLC

Market Insights

Increasing Incidences of Sports Injuries

The rise in the incidences of the sports injuries can be attributed to increasing in the number of weekend sports players, youngster, and professional athletes. Most of the sports injuries are orthopedic, which include fractures, sprain, strain, ligament breaks, swelling, pain, and others. These injuries are classified as acute and chronic, based on the level of damage caused.

The injuries occur due to sports such as water soccer (football), water sports, cricket, rugby, basketball, athletic games, and others. For instance, as per the data by the Federation Internationale de Football Association (FIFA), a large number of sports injuries that are caused by soccer. The data stated that ankle sprain is the most widely experienced injuries caused in the football players across the world. In the US, approximately 240,000 injuries were treated in the emergency department, and among them, about 48,810 cases of fractures and near 79,400 cases were for strain and sprains and also there were 5,000 cases for the dislocations.

Similarly, in cricket, the bowlers are more prone to get injured from the repetitive motion of their shoulders, elbow, and legs. The common injuries that are being observed are rotator cuff tears, impingement syndromes, ankle sprains, as well as medial ligament injuries to the elbow. Therefore, on average, nearly 10% of cricketers may suffer from injuries at any point of time on the field, and the fast bowlers contribute approximately 15% of the incidences.

Also, according to a report published in 2017 by BMJ Publishing Group Ltd, stated that in the Rio de Janeiro 2016 Olympic Summer Games nearly 8% of the athletes incurred with one injury during the Olympic Games. Moreover, according to the Stanford Children’s Health data published in 2018, the United States has nearly 3.5 million children and teen (14 years and below) are suffering from injuries. It also stated that the highest rates of injuries occurred in the sports that involve contact and collisions, severe injuries happened during the individual sports and recreational activities. Additionally, approximately 62% of sports-related injuries happened during the practice sessions.

Moreover, according to the Stanford Children’s Health, some instances were given, which stated that near 170,000 children in between the age group of 5 to 14years were treated in hospital emergency rooms for basketball-related injuries. Likewise, approximately 47,000 children were treated in hospital emergency rooms for in-line skating-related injuries. Similarly, around 65,000 children were treated in hospital emergency rooms for trampoline-related injuries. Hence, considering the factors mentioned above, the demand for foot and ankle devices is deemed to witness growth at a considerable rate during the forecast period

Strategic Insights

Organic and inorganic growth strategies were observed in global foot & ankle devices industry. The organic strategies which were conducted more compared to the inorganic strategies for the foot & ankle devices. For instance, in July, 2019, Össur launched a new, next-generation version of its revolutionary Proprio Foot microprocessor ankle (MPA). Thus, the organic strategy has enabled the company to grow its business in the market.

Market segmentation:

Foot & Ankle Devices Market to 2027 – Global Analysis and Forecasts by Product (Joint Implants, Prostheses, Braces & Support, and Fixation Devices), Application (Trauma, Osteoarthritis , Osteoporosis , Rheumatoid Arthritis, and Hammertoe) and Geography

By Geography North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. And 13 countries globally along with current trend and opportunities prevailing in the region.

Points Covered in The Report:

  • The points that are discussed within the report are the major market players that are involved in the market.
  • The complete profile of the companies is mentioned.
  • The production, sales, future strategies, and the technological developments that they are making are also included within the report.
  • The growth factors of the market is discussed in detail wherein the different end users of the market are explained in detail.
  • The application areas of the market are also discussed thus giving a broad idea about the market to the clients.
  • The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

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