PUBLISHER: Grand View Research | PRODUCT CODE: 1587779
PUBLISHER: Grand View Research | PRODUCT CODE: 1587779
The global foot and ankle devices market size is expected to reach USD 7.13 billion by 2030, registering a CAGR of 7.10% from 2025 to 2030, according to a new report by Grand View Research, Inc. This is due to the rapidly developing healthcare infrastructure, the increasing number of foot & ankle surgical procedures, the increased incidence of obesity & diabetes, and the growing use of patient-specific solutions. Moreover, innovation and product development due to expenditure on R&D by major companies are some of the factors propelling the growth of the industry. After the SARS-CoV-2 (COVID-19) crisis in Wuhan in December 2019, it spread quickly around the world and affected both developed and developing countries' healthcare systems, in terms of health and non-health issues.
The spread of the COVID-19 infection was slowed down by mobility restrictions and stay-at-home directives. However, this created an obstacle in foot and ankle devices intended for the effective treatment of orthopedic disorders. The key industry players have seen a decline in net sales during the pandemic. This was mainly due to a decreased number of surgeries related to the foot and ankle. However, the market started recovering as major players started focusing on strategic initiatives, such as new product launches, mergers, acquisitions, and collaborations with other companies. Also, COVID-19 has dramatically improved the role of digital healthcare in foot and ankle surgeries. At the American Academy of Orthopedic Surgeons (AAOS) Conference 2021, many orthopedic athletes showcased their dedication to digital orthopedic treatment.
Johnson & Johnson demonstrated their VELYS Digital Surgical Platform, which uses robotics, data insights, and digital technology to enhance patient care. Mymobility with Apple Watch, a remote care management tool created to assist healthcare providers in remotely supporting & guiding patients as they get ready for and recuperate from orthopedic surgeries, was shown by Zimmer Biomet with promising results. The rising geriatric population is leading to market growth. Foot injury cases are increasing in the elderly due to the growing requirement for higher physical activity to maintain fitness. Trauma and injuries, eyesight problems, and falls due to poor balance and coordination may lead to ankle and foot injuries. According to the WHO, globally, one in six individuals will be 60 years or older by 2030. This number will double by 2050. (2.1 billion).