Foot & Ankle Devices Market Size, Trends and Growth Analysis by 2027

The global market for foot and ankle devices is projected to grow significantly, reaching approximately US$ 4,084.97 million by 2027, up from US$ 2,038.24 million in 2018. This growth represents a compound annual growth rate (CAGR) of 8.1% from 2019 to 2027.

Several factors are propelling the expansion of the foot and ankle devices market. Notably, the increasing prevalence of sports-related injuries, a rise in road traffic accidents, and an uptick in orthopedic surgical procedures are key contributors. Conversely, a significant challenge to market growth is the limited reimbursement options available for orthopedic surgeries.

Road traffic accidents are a leading cause of injury-related fatalities and rank as the tenth most common cause of death globally. Individuals injured in these accidents account for approximately 30% to 70% of orthopedic hospital bed occupancy in various countries. Globally, roads are utilized by a diverse array of vehicles, including buses, cars, motorcycles, trucks, mopeds, and taxis, as well as pedestrians and animals. According to estimates from the Centers for Disease Control and Prevention (CDC), road traffic injuries are projected to become the eighth leading cause of death worldwide. If current trends persist, it is anticipated that by 2030, these injuries will escalate to the seventh leading cause of death globally. In 2016, the CDC reported that road traffic injuries impose a significant economic burden, particularly on lower and middle-income nations, with an estimated global cost of around US$ 518 billion and approximately US$ 65 billion in lower-income and middle-income countries.

Foot injuries are notably prevalent in car accidents. Research from the National Center for Biotechnology Information indicates that about 76% of foot and ankle injuries in car crashes result from head-on collisions, as the lower extremities are the first to absorb the impact. Additionally, 21% of foot injuries occur due to rollovers and side impacts. To aid recovery, various foot and ankle devices, including splints, rehabilitation braces, supports, and knee and ankle braces, are employed to assist the injured areas. Consequently, the increasing incidence of road accidents is expected to significantly boost the demand for foot and ankle devices throughout the forecast period.

The global foot and ankle devices market is categorized based on product type, application, and end-user demographics. In terms of product segmentation, the market includes joint implants, prostheses, braces and supports, and fixation devices. When considering applications, the market is divided into trauma, osteoarthritis, osteoporosis, rheumatoid arthritis (RA), and hammertoe.

Key sources of information for the foot and ankle devices market report include both primary and secondary data from reputable organizations such as the National Centre for Sports Development, Federation Internationale de Football Association, National Institute of Traumatology and Orthopedics, and the Food and Drug Administration, among others.