The global foot and ankle devices market size was estimated to be USD 4.58 billion in 2023 and is expected to reach at USD 9.58 billion by 2034 with a CAGR of 6.94% during the forecast period 2024-2034. Rising geriatric population, increasing demand for foot & ankle devices designed with a user-centric approach, growing demand for minimally invasive surgical procedures, surge in use of advanced technologies such as AI & robotics, rising prevalence of target diseases, road accidents & sports-related injuries, major players are actively engaged in extensive research & development efforts, and increasing introduction of novel foot and ankle products are some of the key factors boosting the market growth.
Increasing introduction of novel foot and ankle products is predicted to boost the market growth during the forecast period. Foot and ankle devices are tools designed to treat various injuries in the foot and ankle, often resulting from arthritis or other orthopedic disorders. Additionally, these devices are employed in cases where foot loss occurs due to amputation, trauma, or accidents. Hence, with the increasing demand for foot and ankle devices, market players are introducing innovative devices to meet this growing need. For instance, in April 2022, Medline UNITE Foot & Ankle has unveiled its FDA-cleared Calcaneal Fracture Plating System and IM Fibula Implant. The national launch of the Calcaneal Fracture Plating System and IM Fibula Implant by Medline UNITE Foot & Ankle is intended to offer surgeons a comprehensive titanium foot and ankle trauma system. This system is designed to address a broad spectrum of fractures that require Open Reduction Internal Fixation (ORIF) with plate and screw fixation.
By product, orthopedic fixation was the highest revenue-grossing segment in the global foot and ankle devices market in 2023 owing to the surge in incidence of ankle fractures, growing preference for branded orthopedic devices attributed to their superior quality & reduced risk of Surgical Site Infection (SSI), and rising number of new product launches. For instance, in July 2022, The Gorilla Central Column Plating System by Paragon 28, Inc. is a set of plates and tools that may be used separately for Charcot cases or both acute and long-term midfoot applications. Additionally, soft tissue orthopedic devices is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of sports-related injuries and growing launch of new products focused on orthopedic tissue repair.
By application, trauma was the highest revenue-grossing segment in the global foot and ankle devices market in 2023 owing to the rising incidences of vehicle accidents, surge in improper sports training, and growing regulatory approvals. For instance, in December 2022, Enovis Corp. has obtained FDA approval for STAR Patient Specific Instrumentation, designed for use with the company's STAR total ankle replacement device. Additionally, Osteoarthritis (OA) is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of osteoarthritis, rising aging population, and surge in incidence of lifestyle diseases.
By end-user, hospitals was the highest revenue-grossing segment in the global foot and ankle devices market in 2023 owing to the sizable target patient population favor hospitals, growing procedural volume, increasing emphasis on early & effective disease diagnosis, rising introduction of technologically advanced foot & ankle devices. For instance, in April 2022, Paragon 28, Inc. has introduced its R3ACT Stabilization System, offering a straightforward solution for multi-stage soft tissue healing after acute or chronic syndesmotic injury. Additionally, orthopaedic clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of orthopaedic disorders, rising technological advancements, and surge in launch of innovative products.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in incidence of injuries related to sports & physical activities, increasing geriatric population, growing number of government-established trauma centers equipped to handle emergencies, and rising mergers & acquisitions within market players. For instance, in February 2022, The Johnson & Johnson subsidiary, DePuy Synthes, has acquired CrossRoads Extremity Systems. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing healthcare infrastructure, expansion of medical tourism industry, surge in number of foot & ankle implantations performed, increasing prevalence of chronic orthopedic ailments, and growing introduction of novel products. For instance, in April 2023, Enovis Corporation, an innovative medical technology company, has introduced Enofix with Constrictor Technology, the newest addition to its expanding range of foot and ankle products. Enofix with Constrictor Technology is a repair system that exhibits superior fixation under cyclic loading.
Increasing introduction of novel foot and ankle products is predicted to boost the market growth during the forecast period. Foot and ankle devices are tools designed to treat various injuries in the foot and ankle, often resulting from arthritis or other orthopedic disorders. Additionally, these devices are employed in cases where foot loss occurs due to amputation, trauma, or accidents. Hence, with the increasing demand for foot and ankle devices, market players are introducing innovative devices to meet this growing need. For instance, in April 2022, Medline UNITE Foot & Ankle has unveiled its FDA-cleared Calcaneal Fracture Plating System and IM Fibula Implant. The national launch of the Calcaneal Fracture Plating System and IM Fibula Implant by Medline UNITE Foot & Ankle is intended to offer surgeons a comprehensive titanium foot and ankle trauma system. This system is designed to address a broad spectrum of fractures that require Open Reduction Internal Fixation (ORIF) with plate and screw fixation.
By product, orthopedic fixation was the highest revenue-grossing segment in the global foot and ankle devices market in 2023 owing to the surge in incidence of ankle fractures, growing preference for branded orthopedic devices attributed to their superior quality & reduced risk of Surgical Site Infection (SSI), and rising number of new product launches. For instance, in July 2022, The Gorilla Central Column Plating System by Paragon 28, Inc. is a set of plates and tools that may be used separately for Charcot cases or both acute and long-term midfoot applications. Additionally, soft tissue orthopedic devices is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of sports-related injuries and growing launch of new products focused on orthopedic tissue repair.
By application, trauma was the highest revenue-grossing segment in the global foot and ankle devices market in 2023 owing to the rising incidences of vehicle accidents, surge in improper sports training, and growing regulatory approvals. For instance, in December 2022, Enovis Corp. has obtained FDA approval for STAR Patient Specific Instrumentation, designed for use with the company's STAR total ankle replacement device. Additionally, Osteoarthritis (OA) is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of osteoarthritis, rising aging population, and surge in incidence of lifestyle diseases.
By end-user, hospitals was the highest revenue-grossing segment in the global foot and ankle devices market in 2023 owing to the sizable target patient population favor hospitals, growing procedural volume, increasing emphasis on early & effective disease diagnosis, rising introduction of technologically advanced foot & ankle devices. For instance, in April 2022, Paragon 28, Inc. has introduced its R3ACT Stabilization System, offering a straightforward solution for multi-stage soft tissue healing after acute or chronic syndesmotic injury. Additionally, orthopaedic clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of orthopaedic disorders, rising technological advancements, and surge in launch of innovative products.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in incidence of injuries related to sports & physical activities, increasing geriatric population, growing number of government-established trauma centers equipped to handle emergencies, and rising mergers & acquisitions within market players. For instance, in February 2022, The Johnson & Johnson subsidiary, DePuy Synthes, has acquired CrossRoads Extremity Systems. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing healthcare infrastructure, expansion of medical tourism industry, surge in number of foot & ankle implantations performed, increasing prevalence of chronic orthopedic ailments, and growing introduction of novel products. For instance, in April 2023, Enovis Corporation, an innovative medical technology company, has introduced Enofix with Constrictor Technology, the newest addition to its expanding range of foot and ankle products. Enofix with Constrictor Technology is a repair system that exhibits superior fixation under cyclic loading.
Segmentation: Foot And Ankle Devices Market Report 2023 - 2034
Foot And Ankle Devices Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Soft Tissue Orthopedic Devices
- Bracing and Support
- Orthopedic Fixation
- Joint Implants
- Prosthetics
Foot And Ankle Devices Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Neurological Disorders
- Rheumatoid Arthritis
- Hammertoe
- Osteoporosis
- Osteoarthritis
- Trauma
- Bunions
Foot And Ankle Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Orthopaedic Clinics
- Hospitals
- Rehabilitation Centers
- Ambulatory Surgery Centers
Foot And Ankle Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Foot And Ankle Devices Market: Product Estimates & Trend Analysis
8. Foot And Ankle Devices Market: Application Estimates & Trend Analysis
9. Foot And Ankle Devices Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Foot And Ankle Devices Market
12. Europe Global Foot And Ankle Devices Market
13. Asia Pacific Global Foot And Ankle Devices Market
14. Latin America Global Foot And Ankle Devices Market
15. MEA Global Foot And Ankle Devices Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Enovis
- Smith & Nephew plc
- Paragon 28
- Stryker Corp.
- Acumed Llc
- Orthofix
- Zimmer Biomet Holdings Inc.
- Arthrex Inc.
- Össur
- Johnson & Johnson (De PuySynthes)
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 4.58 Billion |
| Forecasted Market Value ( USD | $ 9.58 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
