The ankle replacement (arthroplasty) market share is expected to increase by USD 99.48 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 8.61%.
This ankle replacement (arthroplasty) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ankle replacement (arthroplasty) market segmentations by application (FB ankle systems and MB ankle systems) and geography (North America, Europe, Asia, and ROW). The ankle replacement (arthroplasty) market report also offers information on several market vendors, including Amplitude Surgical SA, Corin Group Plc, Exactech Inc., Integra LifeSciences Holdings Corp., Johnson and Johnson Inc., MatOrtho Ltd., Smith and Nephew plc, Stryker Corp., Wright Medical Group NV, and Zimmer Biomet Holdings Inc. among others.
What will the Ankle Replacement (Arthroplasty) Market Size be During the Forecast Period?
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Ankle Replacement (Arthroplasty) Market: Key Drivers, Trends, and Challenges
The increasing prevalence of ankle arthritis and associated risk factors is notably driving the ankle replacement (arthroplasty) market growth, although factors such as the high cost of tar may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ankle replacement (arthroplasty) market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Ankle Replacement (Arthroplasty) Market Driver
The increasing prevalence of ankle arthritis and associated risk factors is one of the key drivers supporting ankle replacement (arthroplasty) market growth. The chances of developing ankle arthritis increase with age. This is primarily attributed to the wear and tear of the ankle joints over time, which leads to the cartilage becoming thin and less flexible, making it prone to OA. Globally, the geriatric population is growing rapidly owing to the rise in average life expectancy. For instance, in the UK, nearly one out of every five people aged 75 years and above who have sought treatment for OA have a condition in the foot and ankle. The prevalence of ankle arthritis is also on the rise due to the increasing rate of risk factors such as obesity and smoking. Thus, there is an increase in demand for TAR, which, in turn, is driving the market growth.
Key Ankle Replacement (Arthroplasty) Market Trend
The increasing preference for TAR over ankle fusion is another factor supporting the ankle replacement (arthroplasty) market growth. In the last few decades, refinement of surgical techniques and advances in TAR prosthesis designs have led to improved outcomes. Further, the new generation implants are designed to mimic the natural movements of the ankle joint better. Patients undergoing TAR procedures can now walk pain-free with a normal gait within a year of the surgery. The level of pain relief and improvement of functionality outcomes offered by the newer implants are also similar to ankle fusion procedures. Hence, there is an increasing preference for TAR over ankle fusion because of the recent improvements in implant design and positive short- to medium-term result outcomes after TAR procedures. Such factors will drive market growth.
Key Ankle Replacement (Arthroplasty) Market Challenge
The high cost of tar is one of the factors hindering ankle replacement (arthroplasty) market growth. For instance, in the US, the average cost of TAR procedures ranges from $25,000 to $50,000. The procedural costs can significantly increase depending on the type of implant used, hospitalization costs, adjunctive procedures, the country where the procedure is being undertaken, and the medications required. A significant number of patients need to undergo revision ankle replacement surgeries due to reasons such as aseptic loosening, subsidence, osteolysis, malpositioning, deep infection, and failure of implant components, which can lead to a significant financial burden on patients as well as hospitals. Such high costs will impede the market growth during the forecast period.
This ankle replacement (arthroplasty) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the ankle replacement (arthroplasty) market as a part of the global Information Technology Spending Market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ankle replacement (arthroplasty) market during the forecast period.
Who are the Major Ankle Replacement (Arthroplasty) Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Amplitude Surgical SA
- Corin Group Plc
- Exactech Inc.
- Integra LifeSciences Holdings Corp.
- Johnson and Johnson Inc.
- MatOrtho Ltd.
- Smith and Nephew plc
- Stryker Corp.
- Wright Medical Group NV
- Zimmer Biomet Holdings Inc.
This statistical study of the ankle replacement (arthroplasty) market encompasses successful business strategies deployed by the key vendors. The ankle replacement (arthroplasty) market is fragmented and the vendors are deploying growth strategies such as operational costs, innovation, price, and product quality to compete in the market.
Product Insights and News
- Exactech Inc. - The company offers ankle replacement products such as Truliant Knee System, Truliant Primary Knee, Turliant Revision Knee and many more.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The ankle replacement (arthroplasty) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Ankle Replacement (Arthroplasty) Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the ankle replacement (arthroplasty) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the Information Technology Spending Market includes the following core components:
- Research and development
- Inputs
- Operations
- Distribution
- Marketing and sales
- Post-sales and services
- Industry Innovations
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Ankle Replacement (Arthroplasty) Market?
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46% of the market’s growth will originate from North America during the forecast period. The US is the key market for ankle replacement (arthroplasty) market in North America. Market growth in this region will be slower than the growth of the market in Asia.
The rising public and private healthcare expenditure will facilitate the ankle replacement (arthroplasty) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 led to a slight decline in the growth of the ankle replacement (arthroplasty) market in North America in 2020, owing to the temporary pause on the research of new drugs for ankle replacement (arthroplasty) and canceled non-urgent medical surgeries such as arthroplasty. However, the resumption of canceled and postponed arthroplasty surgeries and the fastened research programs of ankle replacement (arthroplasty) since Q4 2020 are expected to drive the growth of the regional market during the forecast period.
What are the Revenue-generating Application Segments in the Ankle Replacement (Arthroplasty) Market?
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The ankle replacement (arthroplasty) market share growth by the FB ankle systems segment will be significant during the forecast period. In a fixed-bearing (FB) ankle system, the articulating surface is locked, molded, or attached to one of its metallic components. It offers various advantages over mobile-bearing (MB) designs, such as the recreation of the normal anatomy of the ankle with a stable fixed plafond of the tibial component/polyethylene. Thus, the FB ankle systems segment is expected to grow steadily during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ankle replacement (arthroplasty) market size and actionable market insights on post COVID-19 impact on each segment.
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Ankle Replacement (Arthroplasty) Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.61% |
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Market growth 2021-2025 |
$ 99.48 million |
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Market structure |
Fragmented |
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YoY growth (%) |
7.90 |
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Regional analysis |
North America, Europe, Asia, and ROW |
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Performing market contribution |
North America at 46% |
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Key consumer countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Amplitude Surgical SA, Corin Group Plc, Exactech Inc., Integra LifeSciences Holdings Corp., Johnson and Johnson Inc., MatOrtho Ltd., Smith and Nephew plc, Stryker Corp., Wright Medical Group NV, and Zimmer Biomet Holdings Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Ankle Replacement (Arthroplasty) Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive ankle replacement (arthroplasty) market growth during the next five years
- Precise estimation of the ankle replacement (arthroplasty) market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the ankle replacement (arthroplasty) industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of ankle replacement (arthroplasty) market vendors
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