Foot and Ankle Plating System Market to Garner Brimming Revenues by 2026
In case of injury, trauma, or defect in the lower extremities of the body, i.e. the feet and ankles, special plates and screws are available for use to rectify and reconstruct them. Foot and ankle plating systems are implants that are placed inside the body to repair or reconstruct the damaged/injured parts. These systems are used to strengthen the ligaments and the tendons, or to attach them to the bone, or replace the bones, or hold the bones together. The foot and ankle area comprises the musculature, starting from the tibiofibular-talus joint or the ankle joint, and includes ligaments, muscles, and tendons, associated with the mid-foot, fore-foot, and hind-foot regions. Foot and ankle plating system is used to fix such parts, depending on the area of the injury.
The foot and ankle plating system market is fueled by 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.
The global foot and ankle plating system market can be segmented based on application, material, and end-user. In terms of application, the foot and ankle plating system market can be 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. Based on material, the foot and ankle plating system market can be classified into stainless steel plates, titanium plates, composite plates, and others.
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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.
In terms of region, the global foot and ankle plating system market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. 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
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Key players operating in the global foot and ankle plating system market 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.