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Foot & Ankle Device Market is Anticipated to Reach US$ 4,084.97 Mn in 2027
Joint Implants segment is expected to grow the market for foot & ankle devices over the forecast period by product segment.According to a new market research study titled Foot & Ankle Devices Market to 2027 - Global Analysis and Forecasts by Product, Application and Geography. The global foot & ankle devices market is expected to reach US$ 4,084.97 Mn in 2027 from US$ 2,038.24 Mn in 2018. The market is estimated to grow with a CAGR of 8.1% from 2019-2027. The report highlights the trends prevalent in the global foot & ankle market and the factors driving the market along with those that act as challenges to its growth.
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Global foot & ankle devices market was segmented by product and application. On the basis of the product the market is segmented as joint implants, prostheses, braces & support, and fixation devices. Based on the application the market is segmented into trauma, osteoarthritis, osteoporosis, rheumatoid arthritis (RA), and hammertoe.
The market for foot & ankle devices is expected to grow significantly due to factors such as increasing incidences of sports injuries, growing incidents of road accidents and rising the number of orthopedic surgeries. However, factor such as lack of reimbursement for orthopedic procedures is the major restraining factors for the growth of the market.
The major players operating in the foot & ankle devices market include, Smith & Nephew, Wright Medicalgroup N.V, Stryker Corporation, Anthrex Inc., Zimmer Biomet, Ossur, Integra Lifesciences Corporation, J&J (Depuy Synthes), Acumed, LLC, Extremity Medical, LLC among the others. The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.
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