Foot and Ankle Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The foot and ankle devices market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. Growth of the market is attributed to the rising number of sports injuries and road accidents, increasing prevalence of diabetes and foot-related illnesses, and technical advances such as automated foot and ankle devices.
Foot and ankle devices are used to treat fractures in the feet and ankles caused by arthritis, diabetic foot, bunions, hammertoes, and other orthopedic problems. These medical devices can be utilized to replace a foot that has been lost due to a congenital abnormality, trauma, amputation, or any other event. Devices for ligament repair and reconstruction, such as arthrodesis, joint replacement, and internal fixation, are included in the foot and ankle devices category. Rising worldwide impact of road accidents is driving demand for sophisticated medical equipment for treatment and recovery. As a result of the pandemic, access to consumers to sell and deploy foot and ankle devices decreased in March 2020. The pandemic has resulted in a substantial drop in demand for foot and ankle products. The outbreak had an adverse impact on the orthopedics sector, as doctors are being reassigned to treat COVID-19 patients, limiting their ability to focus on normal patients. As a result of the lack of hospital staff and operating rooms, performing orthopedic and trauma surgery has become a serious difficulty.
Market Trends, Drivers, Restraints, and Opportunities
Rising number of sports injuries and road accidents are expected to propel the market during the forecast period. Rising prevalence of diabetes and foot-related illnesses are key factor fueling the market. High price of foot and ankle device is estimated to hamper the market growth.