Global Foot Drop Implants Market 2016-2020

Foot drop implants market analysis

Extensive research carried out by the analysts at Technavio has shown that the global foot drop implants market will witness fast-paced growth and will post a staggering CAGR of more than 9% over the forecast period. One of the major factors fuelling the demand for foot drop implants is the growing incidence of diabetic neuropathy. The high blood sugar levels damage the nerve fibers throughout the body, which will lead to an augmented demand for foot drop implants. According to CDC 2014 statistics, nearly 29 million individuals in the US have diabetes, of which 26% of individuals with type 2 diabetes have witnessed a nerve damage during diagnosis.

Foot drop implants market trends

The growing popularity of hammertoe implants is one of the recent trends gaining significant traction in the market. An estimated 500,000 surgical procedures are performed for the treatment of hammertoes each year. Hammertoe implants help in the fixation of bones in osteotomies and reconstruction of lesser toes. Several hammertoe implants are currently available in the market, such as Nextra Hammertoe Correction system offered by Nextremity Solutions consisting RevLock precision locking system that provides adjustability and versatility.

Moreover, in December 2015, Instratek launched the ToeTac single-use kit for the operative repair of hammertoe deformities. The ToeTac implant includes two threaded ends that fit into the bone. The first end is a common bone thread and the second end is interrupted by slots that enable the implant to flex in response to insertion forces. This implant is designed to fit a range of anatomies, leading to its increased adoption over the estimated period.

Foot drop implants market growth: Competitive landscape and key vendors

The global foot drop implants market is highly fragmented with the presence of several large, medium, and small-sized companies. The advances in technology and new product launches will increase the competition among the existing vendors.

Key vendors in the foot drop implants market

• Arthrex
• Bioness
• Finetech Medical
• Ottobock
• Stryker
• Wright Medical

Foot drop implants market by product segmentation

• Internal fixation devices
• Functional electric stimulators

During 2015, the internal fixation devices segment led the market and accounted for over 85% of the market shares in terms of revenue. Internal fixation devices are designed to restore function to the foot drops by replacing or reinforcing the damaged portion and include fixation devices, joint implants, or soft tissue devices. Joint implants used for internal fixation and are made from stainless steel and titanium, which makes them highly durable, leading to their increased demand.

Foot drop implants market forecast based on geography

• Americas
• APAC
• EMEA

In terms of geography, the Americas dominated the global foot drop market and held more than 56% of the revenue market shares. North America is the major revenue contributor to the region. The rising incidence of neurological disorders and the emergence of non-invasive stimulator devices is expected to drive this market’s growth in the region. Moreover, the growing incidence of sports-related injuries has led to increased demand for foot drop implants. With considerable advancements in technology, this market is anticipated to have a positive outlook in the region over the next four years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global foot drop implants market?
• What are the key market trends impacting the growth of the global foot drop implants market?
• What are the challenges to market growth?
• Who are the key vendors in the global foot drop implants market?
• What are the market opportunities and threats faced by the vendors in the global foot drop implants market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global foot drop implants market?

Technavio also offers customization on reports based on specific client requirement.

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