LAMEA Foot and Ankle Devices Market Size, Share & Industry Trends Analysis Report By Application (Trauma, Osteoarthritis, Rheumatoid Arthritis, Hammertoe, Osteoporosis, Neurological Disorders and Bunions), By Product, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Foot And Ankle Devices Market would witness market growth of 10.3% CAGR during the forecast period (2022-2028).
One of the most frequent types of foot injuries is an ankle fracture. Each year, an estimated 170,000 people experience ankle fractures that need surgery. One of the top nine fractures is this one. This is caused by the ankle's comparatively modest contact surface area as well as the 1.5 times greater body weight at rest and 5.5 times more force during vigorous activity. The durability of ankle joints is, therefore, critical.
Each year, up to 50,000 patients are identified as having end-stage ankle arthritis, characterized by worn-out ankle cartilage that results in unbearable bone-on-bone contact and incapacity. Whole ankle replacements are advised for these patients rather than ankle fusions because they have a better success rate, boosting the market. One of the key factors in the market expansion of joint replacements is the favorable reimbursement status. Medicare and a few commercial insurers pay for the procedure's reimbursement.
Recent public health statistics have verified that vehicle crashes are increasing alarmingly in the Middle East and North African nations and that they are currently the main cause of death for young adults. These regional nations currently rank among the poorest performers in the world when considering socio-economic indices like the number of fatalities in traffic accidents and the percentage of GDP lost. Government spending on healthcare facilities and infrastructure is also anticipated to assist the sector. In addition, the demand for foot and ankle devices is also anticipated to increase in the projected period due to increasing consumer awareness of healthcare and fitness as more people believe in preventative care solutions. Therefore, the region presents lucrative growth opportunities for the regional foot and ankle devices market.
The Brazil market dominated the LAMEA 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 $101.1 million by 2028. The Argentina market is experiencing a CAGR of 10.9% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 10% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
Market Segments Covered in the Report:
- Rheumatoid Arthritis
- Neurological Disorders
- Orthopedic Fixation
- Joint Implants
- Bracing & Support
- Soft Tissue Orthopedic Devices
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Orthofix Medical, Inc.
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