FOOT AND ANKLE DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Global Foot and Ankle Devices Market - Drivers

Increasing prevalence of road side accidents and sport injuries is expected to drive the global foot and ankle devices market over the forecast period. For instance, according to National Safety Council Analysis of U.S. (NSC), in 2017, in U.S. due to exercise and exercise equipment 526,000 injuries were reported while basketball, with 500,000 injuries. Furthermore, subsequent product launches, continuous innovation of devices by manufacturers drive the global foot and ankle devices market growth over the forecast period. For instance, in March 2017, Integra LifeSciences Holdings Corporation launched the Cadence Total Ankle System in the U.S., which is used to treat ankle arthritis by replacing the ankle joint with a prosthesis, which reduces the pain and allows the movement at the replaced joint.

However, huge cost of foot and ankle devices, complications and risks associated with foot and ankle procedures, inadequate reimbursement policies, and product recalls are the factors restraining market growth. For instance, in October 2017, HeaterBaum Foot and Ankle Heating Pad was recalled by the Ergoactives LLC, as the product was marketed without getting 510k clearance from the U.S. FDA.