The Foot And Ankle Devices Global Market Report 2023 by The Business Research Company, provides foot and ankle devices market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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In accordance with The Business Research Company’s insightful analysis presented in the Foot And Ankle Devices Global Market Report for 2023, the market has experienced a noteworthy expansion, ascending from $5.13 billion in 2022 to a commendable $5.61 billion in 2023, marked by a robust Compound Annual Growth Rate (CAGR) of 9.5%. This trajectory, however, was not immune to the repercussions of the Russia-Ukraine conflict, which, in the short term, hindered the prospects of a global economic rebound post the challenges posed by the COVID-19 pandemic.
The geopolitical turbulence ensuing from the war has precipitated far-reaching consequences, including economic sanctions impacting multiple nations, an upswing in commodity prices, and disruptions in global supply chains. This ripple effect has manifested in inflationary pressures across diverse goods and services sectors, exerting a substantial influence on various markets worldwide. Despite these challenges, the foot and ankle devices market is poised for further expansion, with projections indicating a rise to an impressive $7.48 billion in 2027, sustained by a calculated CAGR of 7.4%.
The increase in rates of orthopedic disorders are expected to propel the growth of the foot and ankle devices market moving forward. Orthopedic disorders are diseases which affect the musculoskeletal system that damages the muscle and bone tissues. This includes the bones, cartilage, ligaments, tendons, and connective tissues. Foot and ankle devices are used to address various types of fusions, fractures, and osteotomies in the forefoot, midfoot and rearfoot, which would increase the market growth.
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The foot and ankle devices market is segmented:
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
Top 5 Major Players:
Within this dynamic landscape, a prominent trend taking center stage is the surge in product innovations within the foot and ankle market. Recognizing the imperatives of staying ahead in this competitive landscape, companies are actively investing in novel product developments. A compelling example of this is Stryker Corporation, a distinguished US-based medical technology entity, which, in a notable move in September 2020, introduced the AxSOS 3 Ankle Fusion System.
The AxSOS 3 Ankle Fusion System stands out as an innovative titanium plate system engineered specifically for ankle fusion, focusing on the fusion of the tibiotalar joint. Leveraging Stryker’s proprietary orthopedic design and development system technology, this groundbreaking offering exemplifies the industry’s commitment to advancing medical solutions, underscoring a dedication to fostering patient well-being and enhancing overall healthcare outcomes. This strategic move aligns with the industry’s broader trajectory, emphasizing the pivotal role of innovation in maintaining a competitive edge and addressing evolving healthcare needs.
The foot and ankle devices market report table of contents includes:
1. Executive Summary
2. Foot And Ankle Devices Market Characteristics
3. Foot And Ankle Devices Market Trends And Strategies
4. Foot And Ankle Devices – Macro Economic Scenario
5. Foot And Ankle Devices Market Size And Growth
…..
26. Africa Foot And Ankle Devices Market
27. Foot And Ankle Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Foot And Ankle Devices Market
29. Foot And Ankle Devices Market Future Outlook and Potential Analysis
30. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Foot And Ankle Devices Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Table 4: Global Foot And Ankle Devices Market, Segmentation By Cause Of Injury, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
Table 5: Global Foot And Ankle Devices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
….
Table 46: Aap Implantate Ag Financial Performance
Table 47: Acumed LLC Financial Performance
Table 48: Advanced Orthopaedic Solutions Financial Performance
Table 49: Arthrex Inc Financial Performance
Table 50: Biomet Inc. Financial Performance
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