Ankle Replacement System Market: Introduction
- Ankle replacement surgery is a replacement of the damaged ankle joint with an artificial implant.
- People who are affected by severe pain from arthritis can undergo two options of treatment: ankle fusion and ankle replacement
- Ankle replacement system consist of two or three components. Earlier designs required cement to hold them but new versions do not need cement. These components include tibial plate and talar component, both of which consist of material Cobalt-Chromium-Molybdenum alloy with titanium plasma spray coating, and mobile bearing, which consist of polyethylene (UHMWPe) with stainless steel radiographic marker wires.
- The implanted device replaces the damaged articulating surfaces of the shin (tibia) and ankle (talus) bones in a painful arthritic ankle joint
Get a Glimpse of the In-Depth Analysis through our Comprehensive Ankle Replacement System Market Brochure
Key Drivers and Restraints of Global Ankle Replacement System Market
- Growth in aging population and increase in prevalence of rheumatoid and osteoarthritis, which cause severe pain, are some of the major factors driving the global ankle replacement system market
- According to the United Nations World Population Prospects data, in 2019, around 9% of the global population is over the age of 65 years, which is estimated to grow up to 16% of the total world population by 2050
- As per the Arthritis Foundation stats, in 2002, 10.5 million people in the U.S. were suffering from severe joint pain caused by arthritis. This number reached 14.6 million in 2014.
- Increase in sports injuries and number of approved products with advance features are some of the factors responsible for the growth of the global ankle replacement system market
Active or Prior Deep Infections in Ankle Joint or Adjacent Bone to Hamper Market
- Ankle replacement surgery is successful in most cases; however, sometimes, it bears some risks in terms of infection, nearby nerve damage, bleeding, blood clot, and misalignment of bone, which can cause complications
- Smokers and people with low-density levels and diabetes also experience increased levels of complications. Due to these associated risks, the market for ankle replacement system may be affected.
- Failure of surgery or system needs revision surgery. This failure and unfavorable scenario in developing countries is restraining the growth of global ankle replacement system market
Mobile-bearing Device Type Segment to be Promising
- Based on device type, the global ankle replacement system market can be bifurcated into fixed-bearing and mobile-bearing
- Mobile-bearing segment, which consists of three component systems, is likely to be most lucrative during the forecast period
- Mobile component allows rotation translation and can reduce the stress at junction of the implant and bone interface. These features of mobile-bearing system are expected to drive the segment.
Ease in Movement Offered by Alloy Material to Drive Segment
- In terms of material, the global ankle replacement system can be divided into metal, alloy, and resins
- Cobalt chromium alloy materials are used mostly for three-component design. They enable ease of movement. Thus, this factor is expected to drive the segment during the forecast period.
Expanding Operations in Future? To Get the Perfect Launch Ask for a Custom Ankle Replacement System Market Report
Hospital End-user Segment to Dominate Global Market
- Based on end-user, the global ankle replacement system market can be categorized into hospitals and ambulatory surgery centers
- Hospitals segment is anticipated to dominate the global ankle replacement system market during the forecast period
- Rise in the number of admissions of patients in hospitals for ankle replacement and availability of better facilities at hospitals are some of the major factors responsible for the growth of this segment
North America to Lead Global Market for Ankle Replacement System
- In terms of region, the global ankle replacement system market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global ankle replacement system market in 2018 due to high prevalence of rheumatoid & osteoarthritis, favorable reimbursement scenario, and increasing U.S. FDA approvals of advanced products
- Ankle replacement system market in Asia Pacific is projected to grow at a rapid CAGR during the forecast period. Growth in aging population with large patient pool of osteoarthritis, rise in cases of trauma & accidents, and increase in health care expenditure are some of the major factors that are estimated to propel the ankle replacement system market in the region.
Key Manufacturers Operating in Global Market
Key manufacturers operating in the global ankle replacement system market are:
- Stryker Corporation
- Integra LifeSciences Corporation
- DePuy Synthes
- Wright Medical Group Inc.
- Zimmer Biomet
- MatOrtho Limited
- Exactech, Inc.
- DT MedTech, LLC
- Corin Group
Global Ankle Replacement System Market: Research Scope
Global Ankle Replacement System Market, by Device Type
Global Ankle Replacement System Market, by Material
Global Ankle Replacement System Market, by End-user
- Ambulatory Surgery Centers
Global Ankle Replacement System Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.