Here are 8 important trends in the foot and ankle devices market, according to a MarketsandMarkets report.
1. The market is expected to reach $5.41 billion by 2020.
2. It is currently valued at $3.82 billion.
3. The market is estimated to grow at a compound annual growth rate of 7.2 percent.
4. In 2015, North America accounted for the largest share of the foot and ankle devices market, followed by Europe.
5. However, the Asia-Pacific market is slated to grow at the highest CAGR from 2015 to 2020.
6. Growth in the number of sports injuries, expected global rise in the prevalence of diabetes and the rising geriatric population are the major factors driving this market.
7. However, the high cost of some foot and ankle devices and excise tax on medical devices in theUnited States and are expected to restrain the market growth.
8. Major players in the market include Stryker, Arthrex, Zimmer Biomet, Smith & Nephew and Wright Medical Technology.