Foot Arthrodesis Plates Market: Introduction
- Arthrodesis, also referred to as a joint fusion, is a procedure in which the separate bones that make up the arch of the foot are permanently fused into a single mass of bone. This procedure helps relieve the unrelenting pain that cannot be appropriately managed by traditional treatments, physical therapy, splints, or pain medication, and natural remedies.
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Key Drivers and Opportunities of Global Foot Arthrodesis Plates Market
- Increase in number of patient with osteoarthritis, rheumatoid arthritis, traumatic injuries, and fractures leads to disruption of the joint’s ability to properly function. This, in turn, is projected to drive the demand for arthrodesis plates and subsequently, drive the global market. For instance, the prevalence of rheumatoid arthritis is highly variable, depending on gender and race, and it is expected to increase in the near future. In the U.S., osteoarthritis effects on average 27 million people, of these 16 million to 20 million are aged between 25 and 74.
- Furthermore, an increase in focus on research & development to introduce newer products in the market is likely augment the market. For instance, in September 2020, Stryker launched the ankle fusion titanium plate system. This enabled the company to strengthen its products portfolio. In October 2020, Tyber Medical, LLC received U.S. Food and Drug Administration approval for its new line of foot and ankle plating systems. This enabled Tyber to expand the methodology beyond the lower extremities and into all areas of the skeletal anatomy.
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- An increase in awareness and inclination toward minimally invasive surgeries are key factors that are also anticipated to propel the market
- Rise in adoption of advaced technologies and governments’ initiatives to make significant investments toward modernization of healthcare infrastructure in developing countries are likely to create the significant opportunity in the market. Key players emphasize on investing in emerging markets to strengthen geographic reach, enhance product portfolio, and consolidate their position in the market.
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North America to Capture Major Share of Global Foot Arthrodesis Plates Market
- North America is expected to account for a major share of the global foot arthrodesis plates market due to the presence of key market players. Moreover, early adoption of advanced technologies is likely fuel the market.
- The foot arthrodesis plates market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. Rise in number of patients with osteoarthritis and rheumatoid arthritis boosts the demand for arthrodesis products and subsequently, drives the market.
Key Players Operating in Global Foot Arthrodesis Plates Market
The global foot arthrodesis plates market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Demand for foot arthrodesis plates has increased in emerging as well as developed markets. Growth strategies adopted by leading players are likely to drive the global market.
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Major players operating in the global foot arthrodesis plates market are:
- Zimmer Biomet
- Medline Industries, Inc
- Paragon 28, Inc.
- Marquardt Medizintechnik
- Johnson & Johnson (Medical Devices Business Services, Inc.)
- Wright Medical Group N.V.
- Astrolabe Medical
- Other Prominent Players
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