Foot and Ankle Devices Market Analysis, Company Scope, Global Opportunity Analysis and Forecast

 

Foot and Ankle Devices

Foot and ankle devices offer several advantages, including lower cost, higher efficacy, greater patient comfort, and ease of use when compared to traditional products. Furthermore, key players are increasingly focusing on the development of specialised products to treat a variety of foot and ankle disorders and deformities, as well as to meet unmet market needs. Because of the rise in forefoot deformities, the global Foot and Ankle Devices Market share from hammertoe will grow. Because of the better treatment outcomes promised by advanced products and treatment modalities, end users are showing a lot of interest in them. 

Several factors, such as the ageing population and the prevalence of orthopaedic disorders, are driving the global foot and ankle device market. According to the National Health Interview Survey (NHIS), 22.7 percent of the population in the United States is diagnosed with arthritis each year. Furthermore, arthritis affects 23.9 percent of women and 18.6 percent of men in the United States. As a result, demand for foot and ankle treatment devices rises. Furthermore, rising diabetes prevalence and an increase in foot and leg injuries from sports and accidents will propel the market forward.

Furthermore, technological advancements in this field will fuel the Foot and Ankle Devices Market Expansion. On the other hand, the high cost of devices and a scarcity of qualified personnel. The number of hammertoe surgeries for the treatment of orthopaedic forefoot deformities is expected to increase, according to industry participants. Furthermore, surgical procedures for hammertoe correction are likely to be noticeable. Given the prevalence of hammertoe and the bunion it causes, industry players are likely to expand their footprint into previously untapped territories.

Major product manufacturers are launching strategic initiatives to raise brand awareness and product visibility among key end users (such as doctors, patients, and physiotherapists) in major healthcare markets around the world. Companies in the Foot and Ankle Devices Market are pursuing a hybrid distribution strategy, in which products are distributed both through distribution channels and through partnerships with global orthopaedic companies. The foot and ankle devices company has also adopted a consignment model, in which the company first places the systems with its customers and then sells them based on how well the implants work. Such initiatives by major product manufacturers are expected to raise brand awareness among target end-users while also educating them about their role in care.