Market Momentum: Foot and Ankle Braces Set for 7% CAGR, US$ 1.18...

Market Momentum: Foot and Ankle Braces Set for 7% CAGR, US$ 1.18 Billion Projection

Posted 2024-05-07 17:57:19

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Fact.MR, a market research and competitive intelligence provider, recently conducted an industry analysis that values the global Foot And Ankle Braces Market (足と足首の装具市場) at US$ 844.7 million. The market is expected to grow at a high-value compound annual growth rate (CAGR) of 7% between 2022 and 2027.

One of the most common musculoskeletal conditions is acute ankle sprains or injuries, which need to be carefully managed with therapy in order to heal.

A National Center for Biotechnology Information (NCBI) survey states that sports-related activities account for less than 50% of all ankle injuries treated in U.S. emergency rooms.

This rate has climbed dramatically in many wealthy countries since the mid-1900s, most likely due to an aging population and an increase in athletes. Sports-related injuries have increased significantly in parallel with professional athletic events around the world.

This will increase the demand for foot and ankle braces globally. Also, rising cases of road accidents worldwide have also increased the use of orthopedic support and braces.

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Key Takeaways from Market Study

Global foot and ankle braces market is currently valued at US$ 844.7 million.
China foot and ankle braces market is expected to expand at a CAGR of 11% from 2022 to 2027.
Worldwide sales of foot and ankle braces are predicted to increase at a CAGR of 7% through 2027.
Highest market share is predicted to be held by North America due to rapid adoption of new technologies and an advantageous reimbursement environment.
DePuy Synthes, Stryker, Zimmer Biomet, Advanced Orthopedic Solutions, Integra LifeSciences Corporation, and Wright Medical Technology, Inc. are key manufacturers of foot and ankle braces.

“Rise in prevalence of bone degenerative diseases, increased in demand for orthopedic braces among the elderly, and affordable product prices are contributing to market expansion,” says a Fact.MR analyst.

Winning Strategy

Presence of many leading manufacturers makes the market for foot and ankle braces moderately competitive. Major foot and ankle brace manufacturers are focusing on new product launches as well as mergers and acquisitions that will aid their global expansion plans.

DePuy Synthes (US) introduced the FIBULINK Syndesmosis Repair System in the United States in March 2020 to treat severe syndesmosis wounds.

Competitive Landscape:

Foot and ankle braces market expansion is anticipated to be aided by mergers and acquisitions. Companies are working together with producers and marketing companies to make better devices that are more reasonably priced.

The very first foot and ankle implant/prosthesis made with PEEK-OPTIMA HA Enhanced, a polymer from Invibio Biomaterial Solutions, was introduced by Nvision in December 2019. It is the first lower extremity device/implant to use structural encoding to allow the Unique Device Identification (UDI) mandated by the FDA for proximal interphalangeal joint arthrodesis.

By releasing technologically improved foot and ankle supports, established companies are bolstering their position in the market.

Foot and Ankle Braces Industry (Mercado de aparatos ortopédicos para pies y tobillos) Research Segmentation

By Product :

Bracing & Support Devices
Joint Implants
Soft Tissue Orthopedic Devices
Orthopedic Fixation Devices
Prosthetics

By Application :

Hammertoe
Trauma
Osteoarthritis
Rheumatoid Arthritis
Neurological Disorders
Bunions
Osteoporosis
Others

By End User :

Hospitals
Ambulatory Surgery Centers
Orthopedic Clinics
Rehabilitation Centers
Others

By Region :

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

Browse Full Report @ https://www.factmr.com/report/foot-and-ankle-braces-market

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the foot and ankle braces market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.

The study divulges essential insights on the market on the basis of product (bracing & support devices, joint implants, soft tissue orthopedic devices, orthopedic fixation devices, prosthetics), application (hammertoe, trauma, osteoarthritis, rheumatoid arthritis, neurological disorders, bunions, osteoporosis, others), and end user (hospitals, ambulatory surgery centers, orthopedic clinics, rehabilitation centers, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).