Foot and Ankle Devices Market: Development Factors, Key Players, Regional Analysis, Applications and Forecasts by 2024
The main objective of this report is to define, describe, and forecast the global “Foot and Ankle Devices” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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Foot and ankle devices are used to provide or restore stability by placing them within the body’s skeleton. These help in correcting the problems associated with the bone and joints such as injuries or deformities. These are boon for those people, who want to perform better in their life and transcend the limitation of the physical problem of their bodies.
Factors such as growing elderly population, higher incidences of osteoarthritis, osteoporosis and musculoskeletal disorders are helping to grow the market rapidely. Additionally, higher incidence of sports injuries, technological innovations in foot and ankle device market, rising old age population and increased prevalence of obesity are contributing the growth of this market. Some of the long term safety concerns associated with the use of metal implants, are likely to restrict the market growth. But, technological advancements such as bio-absorbable implants coupled with increase in the success rate of these implants and fixators in the emerging market, would serve as an opportunity for this market.
Geographically, North America is the dominant player in this market. North American countries such as the U.S. and Canada are the largest markets for the foot and ankle devices. This is because of greater financial standing of patients, higher acceptance rate for advanced technologies, and significantly large number of sports injuries, well-established health care facilities, easy access to healthcare facilities, and high levels of awareness about foot and ankle disorder in this region are estimated to drive the foot and ankle device market in this region. Asia-Pacific market is growing at a highest CAGR during the forecast period, due growing elderly population which is susceptible to osteoporosis, osteoarthritis, injuries and obesity, which is likely to contribute to the growth of this market.
Zimmer Biomet New System got FDA Nod, to Boost Spine Wing in May, 2018
Zimmer Biomet Holdings, Inc. ZBH got clearance from the FDA for its Zyston Strut Open Titanium Interbody Spacer System, which is expected to revitalize the Spine division. Notably, the product is the company’s first titanium spinal implant to be built using the 3D printing technology.
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Zimmer Biomet Expanded its Foot and Ankle Portfolio Through Exclusive Global Distribution Agreement with Nextremity Solutions, Inc. in October,2016
Zimmer Biomet Holdings, Inc. a global leader in musculoskeletal healthcare, entered in an exclusive agreement with Nextremity Solutions, Inc. to globally distribute the company’s foot and ankle deformity correction products. The financial terms of the transaction were not disclosed.
Novastep Enters into Agreement with Vivex Biomedical to Launch bioSTART Platform in May, 2016
Novastep, Inc., a global medical technologies company specializing in foot and ankle implants, enteredinto an agreement with Vivex Biomedical, Inc., a privately held company focused on cellular therapies that treat orthopaedic, spine, wound and soft tissue indications. This agreement would help to Novastep get access to Vivex’ catalog of allograft materials.
FDA Clears Zimmer Biomet’s 3D-Printed Foot And Ankle Implant in February,2016
Zimmer Biomet has received clearance from the FDA to launch its Unite3D Bridge Fixation System, 3D-printed technology to be used in joint fusion therapy of the foot and ankle. Zimmer Biomet claimed that,this all-in-one technology offers better stability and biological incorporation than currently used plates and screws.