Global Lower Extremities Market 2017-2021

Overview of the global lower extremities market

Technavio’s market research analyst predicts the global lower extremities market to grow steadily at a CAGR of around 8% by 2021. One of the primary drivers for this market is the steady rise in the number of accidental injuries across the globe. It has been observed that there is an increase in the number of road and sports injuries in both the developing and developed countries. Road accidents can lead to injury in lower extremity regions, which requires bone repair products to fix. While, sports injuries can lead to injury in the legs and ankle, which are complex procedures to treat as they involve both skeleton and soft tissues. It can lead to a complex tear in the meniscal and fracture in the hip and knee, which are common sports injuries. To treat them, physicians use rotation correction plates, screws, and modular hand systems. Consequently, the growing incidences of accidental injuries (road accidents and sports injuries) can increase the need for lower extremities such as bone repair and soft tissue repair devices. These products can help in osteosynthesis and augmentation processes. This, in turn, is expected to propel the growth of the global lower extremities market during the forecast period.

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the lower extremities market throughout the forecast period. The US, accounted for almost one-third of the unit sales of lower extremity products, followed by Canada and Mexico. This is due to the availability of a wide range of products, high consumer awareness, and the presence of international brands providing innovative products. The market is largely driven by the strong performance of the hip replacement and knee reconstruction segment. Also, a rapid increase in the number of surgeons in the region is expected to augment the growth of the lower extremities market in the region during the next four years.

Competitive landscape and key vendors