(PharmaNewsWire.Com, March 05, 2018 ) According to the report Asia Pacific Foot and Ankle Devices Market, published by Market Data Forecast, the Asia-Pacific market is projected to reach USD 1.47 billion by 2021, at a CAGR of 8.2% from 2016 to 2021.
Foot and ankle devices may be prosthetic or orthotic in nature. They are used to help in healing injuries sustained on the limbs as a result of accidents or falls. They may be just attachments or may need to be used with the help or surgical procedures. The class of foot and ankle devices include devices that help in ligament repair and reconstruction procedures such as arthrodesis, joint replacement and internal fixation.
The foot-ankle prosthetics has gained a significant amount of traction since the introduction of technologically advanced devices and materials such as the carbon fibre, microprocessor controlled, and hydraulic controlled prosthetic feet. The bracing segment consists of an extensive 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.
Asia-Pacific Foot and Ankle Devices Market: Drivers & Restraints
The growth of the Asia-Pacific Foot and Ankle devices market is mainly driven by a rise in sports injuries which commonly involve serious ankle injuries and an alarming increase in the number of road accidents. The rise of diabetic population also has a boosting effect on this industry as diabetes leads to the deterioration of foot-ankle area with large sores and infections due to the poor blood circulation. The increase in the percentage of elderly and aging population is another considerable driver for the market since the former shows considerable decrease in their bone strength leading to a larger number of reported fractures, non-healing of fractures etc. It would be a uncontrollable growth of the market if not for the high cost of some of the foot and ankle devices. Another reason bolstering the growth of the industry is the lack of skilled personnel to handle the equipment.
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Asia-Pacific Foot and Ankle Devices Market: Segmentation
By Product
Orthopaedic Implants and Devices Prostheses Bracing and Supporting Devices
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Asia-Pacific Foot and Ankle Devices Market: Overview
The latest trend gaining momentum in the Asia-Pacific Foot and Ankle Devices market is Research & Development and new product launches. With advances in technology, companies are focusing on developing products that provide faster recovery and rehabilitative measures for injuries caused due to sports and physical activities. There has been an increased focus on R&D activities and technologies to develop innovative products catering to specific needs of the customers.
The population aged 60 years and above will increase by 2 billion by 2050. As the age of the person increases, the bone’s strength decreases. At this age, people use small assistive devices such as orthotics, shoes with cushioned heel to improve movement, and lace-up ankle braces to relieve the pain of surgical procedures. Arthritic people are prone to disabilities, falls, and accidental injuries that further increases the need for foot and ankle devices.
Asia-Pacific Foot and Ankle Devices Market: Region-wise Outlook
The Asia-Pacific market is segmented into China, India, Australia, South Korea, Japan and other Asia-Pacific countries. Globally, the Asia-Pacific region is projected the grow at the highest rate or the highest CAGR, mostly due to the increasing elderly population and rising sports injuries. Of the regions, India and China show the highest growth rate among markets while Australia is also a major market player. The developing stature of China and India along with the increasing population has led to a boom in the industry as the public become more aware about advancements in the medical field.
Key Questions Answered
What is the current and future Foot and Ankle Devices market outlook in Asia-Pacific? What trends are affecting the Asia-Pacific market? What is the competitive landscape and market share of major players in the Foot and Ankle Devices market space in Asia Pacific? What are the key, high growth markets that Foot and Ankle Devices systems manufacturers should expand into? Which market segments are growing the fastest? What are the unmet needs with the Foot and Ankle Devices systems currently on the market? How will emerging technologies fulfil these unmet needs? What is physician perception and market outlook of Foot and Ankle Devices? What are the challenges and barriers that have hindered the boom of the Foot and Ankle Devices market?
Asia-Pacific Foot and Ankle Devices Market: Key Players
The major companies dominating the Foot and Ankle Devices market in this region are 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 Asia-Pacific Foot and Ankle Devices market
Reasons to buy Asia-Pacific Foot and Ankle Devices Market Report:
Regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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