Transparency Market Research in its new report titled, “Foot and Ankle Plating System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the foot and ankle plating system market. The TMR report anticipates that the foot and ankle plating system market will expand exponentially during the forecast period i.e, 2018-2026, owing to the growing geriatric population, who are at a higher risk of bone injuries, rising prevalence of obesity, osteoarthritis, and osteoporosis, accidents, and youth-related sports injuries. Ankle and foot-joints issues can cause a lot of discomfort and pain to the patient and can significantly affect one’s lifestyle. Hence, it is essential that the foot and ankle implant plates are sturdy and implanted correctly. The foot and ankle plating system market is likely to be restrained due to factors such as high cost of the procedure and implants and post-operative infection caused by implant surgery, says the report.
The TMR report has segregated the global foot and ankle plating system market based on application, material, and end-user. On the basis of application, the foot and ankle plating system market is divided into total ankle replacement, ankle fusion, forefoot and midfoot fusion, subtalar fusion, and others. Total ankle replacements are expected to hold the leading share of the segment during the forecast period owing to rise in sports-related injuries and accidents. The ankle joint, being small, requires replacement, when broken. In terms of material, the foot and ankle plating system market is segmented into stainless steel plates, titanium plates, composite plates, and others.
Titanium plates are expected to hold a key share of the segment owing to their load-bearing capability and strength and lightweight. In terms of end-user, the foot and ankle plating system market can be categorized into hospitals, specialty clinics, and ambulatory surgical centers. Hospitals are expected to hold the dominant share of the segment owing to the focus of hospitals toward enhancing plating procedures to ensure reduced pain, improved mobility, and increased patient satisfaction. Emergence of new foot and ankle plating options and diverse plating options to treat different types of foot and ankle injuries is boosting the market.
From a regional perspective, the global foot and ankle plating system market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among these, North America is expected to hold the leading market share during the forecast period owing to factors such as growing acceptance and adoption of foot and ankle implants and quick FDA approvals for such implants. For example, in February 2018, Centric Medical received FDA 510 clearance for its foot and ankle plating system.
Europe is expected to hold the second dominant share of the foot and ankle plating system market. Rise in prevalence of obesity and technological advancements in the foot and ankle plating industry in Europe are boosting the growth of the market. Major companies operating in the global foot and ankle plating system market are profiled in this report to give a better competitive analysis and these include Paragon 28, Inc, Stryker, Wright Medical Group N.V., Medline Industries, Inc, CENTRIC MEDICAL, LLC, Acumed, VILEX IN TENNESSEE, INC., Orthofix Holdings, Inc., DePuy Synthes, Smith & Nephew, and Zimmer Biomet.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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