North America 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 North America Foot And Ankle Devices Market would witness market growth of 6.0% CAGR during the forecast period (2022-2028).
The main drivers of the market growth include the aging population as well as the increasing frequency of joint issues like arthritis, foot ulcers, fractures, and bunions. In addition, the market is also anticipated to develop due to rising rates of diabetes and foot-related ailments and technological improvements. The need for foot and ankle devices is driven by the increase in traffic accidents and the popularity of sports. In addition, fractures are more likely due to urbanization in developing markets. Also, sports-related injuries have risen in addition to professional athletic events around the world. As a result, the most common injury in the world is an ankle sprain.
Additionally, advantages such as greater patient comfort, ease of use, higher efficacy, and better affordability compared to conventional products have increased the demand for foot and ankle devices. Furthermore, the growing emphasis of major market players on the development of technologically advanced products for the treatment of various foot and ankle deformities and disorders, as well as the need to meet unmet market needs, have positively impacted the development of the market.
The US is a significant contributor to growth due to the increased prevalence of diabetes, conditions that affect the feet, and technical developments in foot and ankle procedures. Injuries caused by sports or other leisure activities occur to more than 3.5 million youngsters in the United States each year, according to a report from John Hopkins Medicine. Falls, being struck by an object, overexertion, and collisions are the most common accidents during unorganized or informal sports activities. As a result, the health of the ankles, feet, legs, ankles, and elbows is of great importance. The market in North America will therefore have strong growth in the coming years due to the aforementioned variables.
The US market dominated the North America 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 $1,868.6 million by 2028. The Canada market is poised to grow at a CAGR of 8.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 7.5% 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 U.S., Mexico, Canada, and Rest of North America.
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
- Rest of North America
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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