Global Foot and Ankle Devices Market 2017-2021

Global foot and ankle devices market forecast

According to the foot and ankle devices industry analysis, the global foot and ankle devices market will grow at a CAGR of more than 9% during the forecast period. The increasing occurrence of degenerative bone diseases is one of the primary drivers for market growth.

The increase in older population and changes in lifestyle has led to the rise in degenerative bone diseases across the globe. As the age of the person increases, the bone’s strength decreases. As a result, this growth in the older population gives rise to degenerative bone diseases and multiple joint problems such as arthritis, joint pain, fractures, and bunions. This demands the need for small assistive devices such as orthotics, shoes with the cushioned heel for better movement, and lace-up ankle braces to lower the pain of surgical procedures. Arthritic people are susceptible to disabilities, falls, and accidental injuries that further rises the need for foot and ankle devices.

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Foot and ankle devices market share based on geography

The Americas accounted for the highest share of the global foot and ankle devices market during 2016 and is predicted to continue its lead over the next four years as well. The US generated about 75% of the market revenue in this region due to the increased level of consumer awareness, the presence of innovative products, and higher acceptance of the devices. Moreover, the export of the orthopedic devices also drives the growth of the market in the US.

Foot and ankle devices market growth: Competitive analysis and key vendors