Description

The foot and ankle devices market size is expected to reach USD 6.1 billion by 2027 from USD 3.6 billion in 2020, at a CAGR of 6.2% during the forecast period. Foot and ankle devices are used for the treatment of heal injuries and disorders in the foot and ankle region with or without the help of surgical procedures. On the other hand, injuries caused by orthopaedic disorders, such as bunions, arthritis, diabetic foot, and hammertoes which may call for surgical procedures with the subsequent use of foot and ankle devices. These devices are also used in replacement of foot lost or foot damage due to, trauma, amputation, and congenital conditions. Technological developments made these devices as stronger and lighter, and restrict the additional energy applied by the organ. The foot and ankle devices able to repair the ligament and reconstruction procedures such as arthrodesis, joint replacement, and internal fixation. In the treatment of foot and ankle injuries, regenerative medicine plays a crucial role. Typically, regenerative medicine treatments are used to repair or replace cartilage, tendon, and ligament tissues that have been damaged. Orthobiologics, which are compounds used to aid the healing of broken bones and injured muscles, tendons, and ligaments, are employed in this field of medicine. Foot-ankle extremities are a key revenue contributor to the Global Market. The most commonly adopted strategies by industry players include new product launches with technological innovations, acquisitions & mergers, agreements, and collaborations to capture significant foot and ankle devices market share. For instance, in September 2015, Integra Life Sciences acquires Tornier foot & ankle products ahead of Wright Medical merger to increase its foot and ankle devices market share outside the United States. Similarly, in May 2013, Wright Medical introduced Ortholoc 3Di with screw technology and redesigned plates for multiple applications in foot and ankle devices market.

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