(PharmaNewsWire.Com, June 22, 2017 ) The Europe Foot and Ankle Devices market has been estimated at USD 1.22 Billion in 2016 and is projected to reach USD 1.71 Billion by 2021, at a CAGR of 7.1% during the forecast period from 2016 to 2021.
The foot-ankle prosthetics has gained a significant amount of traction since the introduction of technologically advanced devices and materials such as the carbon fiber, microprocessor controlled, and hydraulic controlled prosthetic feet. The bracing segment consists of a large range of devices utilized for supporting ankle joints to provide stability and comfort during movement. The devices are available for minor strains and twists, along with heavy duty braces for post-operative recuperation.
The market for Foot and Ankle Devices is mainly driven due to rise in sports injuries, increasing incidences of road accidents, and rise in rate of diabetes, which leads to the deterioration of foot-ankle area with large sores or infections due to poor blood circulation. Also, regular entry of new and innovative products is driving the market growth in Europe. But, the market growth is hampered due to high cost of some of foot and ankle devices and implied excise tax on medical devices.
Europe market for Foot and Ankle Devices is segmented based on Product and Cause of injury. By Products, the market is further sub-segmented into Orthopedic Implants and Devices, Prostheses, Bracing and Supporting Devices. By Cause of Injury, the market is further sub-segmented into Trauma, Diabetes, Neurological Disorders, osteoporosis, rheumatoid arthritis, osteoarthritis, hammertoe, bunions. Orthopedic Implants and Devices contribute the largest share in the market. Prosthetic devices are expected to witness a lucrative growth during the forecast period due to the technological advancements and the introduction of more efficient devices.
Geographically, Europe market for Foot and Ankle Devices is segmented into Germany, U.K., France, Spain and Italy. Europe is the second biggest market in terms of market share across the globe. This region is filled with well-established companies which expertise in the area of Foot and Ankle devices and are hence, having a stagnant market growth.
Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc. , Smith & Nephew plc , Wright Medical Technology, Inc. , Integra LifeSciences Holdings Corporation , Tornier N.V., Össur, Acumed and Extremity Medical, LLC, are the major players of Europe Foot and Ankle Devices market.
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