PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1618291
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1618291
Global foot and ankle devices market is projected to witness a CAGR of 7.24% during the forecast period 2025-2032, growing from USD 4.83 billion in 2024 to USD 8.45 billion in 2032. The global foot and ankle devices market is expected to keep growing robustly during the forecast period owing to an increasing geriatric population, increasing demand for minimally invasive surgery, and increasing technological advancement.
Foot and ankle devices are medical devices used in treating conditions such as injuries and deformities or other conditions affecting the foot and ankle. The device maintains the structure as well as the function of the foot and ankle. An increasing prevalence of orthopedic disorders, an increasing geriatric population, and advancements in medical technologies drive the foot and ankle devices market. Other factors, such as increased sports-related injuries, trauma cases, and lifestyle-related conditions like diabetes and obesity, will further drive the demand for foot and ankle implants, orthotics, and braces. Other expansion factors in the market include the adoption of minimally invasive surgical techniques coupled with innovative and patient-specific solutions. For instance, in September 2024, DePuy Synthes, part of Johnson & Johnson Services, Inc., launched the TriLEAP lower extremity anatomic plating system for foot and ankle surgery. TriLEAP system is aimed to be utilized trauma and reconstructive procedures in the forefoot and midfoot, offering flexibility with various screw options. It enhances the portfolio for first-ray surgery and foot and ankle reconstruction, benefiting both adults and adolescents. The market is further expanding with supporting government policies and favorable reimbursement growth in the foot and ankle devices market.
Increasing Prevalence of Foot and Ankle Disorder Boosts Market Growth
The growing prevalence of foot and ankle joint diseases such as osteoarthritis, rheumatoid arthritis, Achilles tendinitis, etc., due to the increasing geriatric population, sedentary lifestyle, and rising obesity levels are the key factors driving the market growth. According to the data published by the CDC in June 2024, an estimated 58.5 million US adults aged >=18 years have arthritis, and the number is expected to reach 78 million by 2040. The report stated that 25.7 million people were diagnosed with arthritis-attributable activity limitation in 2023. Moreover, sports injuries and injury-related incidents are also rising, driving the demand for advanced foot and ankle devices. Increasing awareness about the importance of early diagnosis of diseases and proper treatment has led to increased use of orthopedic implants, orthopedic devices, and orthopedic products.
Rising Awareness and Technological Developments Drive Market Growth
Rising awareness and technological developments in foot and ankle devices are growth drivers propelling the global foot and ankle device market. Increased patient education and awareness of advanced treatment options have led to the adoption of devices that would include implants, orthotics, and braces for managing different foot and ankle conditions. This is further compounded by the fact that enormous technological breakthroughs in the field of 3D printing, biocompatible materials, and robotic-assisted surgical instruments are transforming the design of devices and impacting clinical results. This interplay between increasing knowledge and advanced technologies opens up avenues in growth markets through resultant demand for more effective, customizable, and convenient foot and ankle treatments globally. For instance, in September 2024, Enovis Corporation unveiled its Tarsoplasty percutaneous Lapidus system at the American Orthopaedic Foot & Ankle Society (AOFAS) annual meeting. These innovations, along with other advanced products, reinforce Enovis commitment to improving patient outcomes and surgical efficiency, positioning the company as a leader in the evolving foot and ankle market.
Soft Tissue Orthopedic Devices Segment to Dominate the Foot and Ankle Devices Market
The soft tissue orthopedic devices segment is expected to capture the maximum market share in the foot and ankle devices market, led by an increasing incidence of sports-related injuries, growth in the prevalence of musculoskeletal disorders, and developments in minimally invasive surgical technologies. Advancements in invasive surgical techniques and the rising adoption of soft tissue repair solutions like tendon and ligament repair products, resulting in improved patient outcomes and shorter recovery time, also enhance the dominance of this product segment. Also, the increasing demand for innovative biologics and synthetic materials to improve repair durability is supposed to boost market growth. For instance, in January 2024, Paragon 28, Inc. launched the Grappler knotless anchor system and Bridgeline tape, strengthening its position in the growing foot and ankle soft tissue market. The Grappler system offers a comprehensive, sterile kit for tendon and ligament repairs, designed for efficiency and simplicity. The Bridgeline Tape features a semi-resorbable material that transitions from rigid to physiological, promoting better healing and improved patient outcomes.
North America Dominates the Foot and Ankle Devices Market
North America is anticipated to be the dominating region in the foot and ankle devices market. This leadership is driven by advanced healthcare infrastructure, high adoption of innovative technologies, and a high incidence rate of orthopedic diseases, including arthritis and fractures. The improved geriatric population and increased patient awareness of earlier treatment options further propel the market growth within this region. Growing investments in the sector by government bodies and private organizations, followed by favorable regulatory frameworks, increased focus on outpatient surgeries, and advancements in 3D-printed and minimally invasive devices, will sustain the region's leadership in the market. For instance, in December 2022, Enovis Corporation received U.S. Food and Drug Administration (FDA) approval for its STAR Patient Specific Instrumentation (STAR PSI) System, designed for use with the STAR total ankle replacement system. The STAR PSI offers personalized pre-operative planning, providing surgeons with a 3D visualization of the patient's ankle joint and relevant implant information. This system, paired with an updated surgical technique, aims to reduce operative time and improve patient outcomes.
Future Market Scenario (2025-2032F)
Increasing demand for personalized care, which means the utilization of 3D-printed implants and bioresorbable materials, creates growth prospects in the market. Other drivers are the increasing number of robotic-assisted surgery procedures and the introduction of more efficient surgical tools. These are improving patient outcomes and recovery times. Improvement in soft tissue repair devices and a growing focus on outpatient procedures will also contribute to growth in the market. Such strategic partnerships, mergers, investments in R&D, and substantial growth in research and development are likely to propel the market further. For instance, in September 2024, Stryker Corporation expanded its foot & ankle portfolio with the addition of the Osteotomy Truss System (OTS) and Ankle Truss System (ATS) by completing the acquisition of 4WEB Inc. The ATS, designed for tibiotalocalcaneal (TTC) fusions, includes Arthrosphere and Arthrocube implants, using Truss Implant Technology for enhanced structural support and fusion promotion. The OTS offers comprehensive solutions for osteotomies, including Cotton, Evans, and Utility wedges, enhancing surgical options.
In March 2024, Stryker Corporation completed the acquisition of SERF SAS, a French joint replacement company, enhancing its global portfolio. Known for its innovations in hip implants, including the original Dual Mobility Cup, SERF SAS strengthens Stryker's joint replacement offerings. This acquisition expands Stryker's presence in Europe, allowing for broader patient access to advanced implant products and reinforcing its commitment to orthopedic excellence.
Key Players Landscape and Outlook
The global foot and ankle devices market is consolidated, with major global providers dominating a major market share. Recent market developments include product launches, new treatment center setups, and strategic activities like mergers and acquisitions, driving growth and increasing competition.
For instance, in September 2024, Stryker Corporation launched the PROstep MIS Lapidus, an internal fixation system designed for minimally invasive bunion surgery. This system offers enhanced fixation stability through a small incision, utilizing minimally invasive foot and ankle surgery (MIS) joint preparation, triplanar reduction, and a three-screw construct. The system provides a less invasive option for bunion treatment, reducing cosmetic scarring and improving bone healing outcomes. This innovation aligns with the growing adoption of minimally invasive foot and ankle surgery techniques.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.