The Europe Foot And Ankle Devices Market would witness market growth of 7.3% CAGR during the forecast period (2022-2028).
Athletes are primarily drawn to fitness-related pastimes like cycling, running, and other activities. Although engaging in such sports is good for health, it also increases the risk of an injury that could damage the ligaments. In athletes who play indoor sports, ankle ligament tears are prevalent. After a severe ankle sprain, orthopedics also recommend ankle braces. Athletes who participate in sports can employ athletic braces to protect themselves from further harm. In addition, they benefit from playing more properly by limiting needless movement during games.
Numerous businesses worldwide have started to expand their market penetration by increasing the accessibility of these devices. However, for businesses to lower instrument costs, regulatory and supply chain costs must be reduced. Due to these requirements, several leading producers of foot and ankle devices are concentrating on commercialization in terms of tools, delivery systems, and devices. Growing investments in compliance and cost-effective designs are anticipated to encourage producers to lower the price of these medical devices while also making them easily accessible to the majority of consumers who need them.
The demand for foot and ankle devices would increase further as road accidents have increased in recent years. A 5% increase from 2020 to 2021, implying that 44 road deaths per million people on average took place. Denmark ranked third in the EU in traffic fatalities, with 23 per million people in 2021. At the same time, rates increased significantly in some other prominent regional nations. In line with the EU average, there were 45 traffic fatalities per million people in 2021. Therefore, the high incidence of road accidents, the high prevalence of diabetes, and the aging population have resulted in an increased need for orthopedic support systems, ensuring the market's growth in the coming years.
The Germany market dominated the Europe Foot And Ankle Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $397.5 million by 2028. The UK market is anticipated to grow at a CAGR of 6.4% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 8.1% during (2022 - 2028).
Based on Application, the market is segmented into Trauma, Osteoarthritis, Rheumatoid Arthritis, Hammertoe, Osteoporosis, Neurological Disorders and Bunions. Based on Product, the market is segmented into Orthopedic Fixation, Joint Implants, Bracing & Support, Prosthetics and Soft Tissue Orthopedic Devices. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Foot and Ankle Devices Market is Projected to reach USD 6.1 Billion by 2028, at a CAGR of 7.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Stryker Corporation, DePuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, Ossur Hf., Enovis Corporation, Acumed LLC (Colson Medical, Inc.), Arthrex, Inc., Paragon 28, Inc. and Orthofix Medical, Inc.
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