North America is Expected to Account for the Largest Share of Global Foot and Ankle Devices Market

Date: 2015-09-17

Foot and ankle devices are used in various procedures like total ankle replacements, ankle fusions, fracture reduction, bunion removal, and diabetic foot amputation, among others. The products used in treating foot and ankle disorders include screws, wires and pins, plates, fusion nails, fixators, joint implants, soft tissue orthopedic implants, and bracing systems, among others.  

Over the years, the foot and ankle devices market has witnessed various technological advancements to provide better recovery and rehabilitative measures for injuries caused during sports or physical activities. These advancements have led to the development of new products and therapies to treat foot and ankle injuries. Majority of leading players in the foot and ankle devices market are launching innovative products using advanced technologies to address the specific demands of their consumers, thereby stimulating the sales of their foot and ankle devices.

In 2015, the orthopedic implants and devices market is expected to account for the largest share of the global foot and ankle devices market, by product, while the others segment is expected to account for the largest share of the foot and ankle devices market, by cause of inury.

In 2015, North America is expected to account for the largest share of the global foot and ankle devices market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In the coming years, the foot and ankle devices market is expected to witness the highest growth rate in the Asia-Pacific region, with emphasis on China, Australia, and India. Increasing aging population in Japan, presence of global and local players & government initiatives to increase the number of doctors in China, increasing number of podiatrists and favorable healthcare system in Australia, increasing obesity & diabetes prevalence, conferences and courses in India, and changing the regulatory and healthcare scenario in Vietnam are expected to drive the market in these regions.

The foot and ankle devices market witnesses high competitive intensity due to the presence of several big and many small firms with similar product offerings. These companies are adopting various strategies (agreements, partnerships, joint ventures, geographic expansion, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market. 

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