Total Ankle Replacement Market to Grow with a CAGR of 6.41% through 2028
Patient preferences, technological advancements, and regulatory support
are expected to drive the Global Total Ankle Replacement Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Total Ankle Replacement Market
– Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Total Ankle Replacement Market stood at
USD 322.75 million in 2022 and is anticipated to grow with a CAGR of 6.41% in
the forecast period, 2024-2028. This can be attributed to minimally invasive
surgical techniques. Advancements in surgical techniques, including minimally
invasive procedures, have made total ankle replacement more accessible and less
invasive for patients. These techniques often result in shorter recovery times,
reduced post-operative pain, and lower risk of complications. Surgeons now have
access to specialized training and tools that allow for precise and less
traumatic surgeries, further increasing patient acceptance. Additionally,
environmental sustainability is a growing concern across industries, including
healthcare. In the future, there may be a push toward developing ankle
replacement implants that are more eco-friendly, using materials and
manufacturing processes that have a reduced environmental impact.
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The market growth has been significantly affected by the COVID-19
pandemic, leading to the cancellation or postponement of scheduled treatment
procedures and a decrease in new diagnoses and treatments. According to the
18th Annual Report (2021) from the National Joint Registry, titled 'The Impact
of COVID-19 on Joint Replacement in England, Wales, and Northern Ireland,'
there was a substantial reduction in joint replacement procedures, with 106,922
(48.8%) fewer surgeries performed in 2020 compared to 2019. Knee replacement
procedures saw the most significant decrease, with 52% fewer cases, followed by
a 53% reduction in ankle replacements. Wales and Northern Ireland were
disproportionately affected, experiencing a 67% and 64% overall reduction in
joint replacement procedures, respectively. This decline in surgeries has
negatively impacted the quality of life for patients dealing with joint-related
disorders and chronic pain. A study published in the National Library of
Medicine in November 2020 titled "The Impact of COVID-19 on Orthopedic
Practices and Surgeons in Louisiana" found that 81 out of 97 respondents
reported delays in receiving routine care for their orthopedic injuries,
further underscoring the pandemic's adverse impact on the market growth.
Despite these challenges, several factors are driving market growth. The
increasing elderly population is expected to contribute significantly as they
are more susceptible to joint-related disorders due to decreasing bone density.
For instance, a study published in the Journal of Family Medicine and Primary
Care in January 2021 revealed that 64.3% of the elderly population suffers from
knee osteoarthritis, leading to increased pain and demand for ankle replacement
due to chronic ankle pain. Similarly, a study in the Oxford Journals of
Rheumatology in January 2021 highlighted that ankle osteoarthritis affects
1-4.4% of the population, with a substantial number of cases resulting from
post-traumatic effects in younger patients with longer projected lifespans.
This, coupled with poor physical and mental quality of life for ankle
osteoarthritis patients, is expected to drive demand for ankle replacements,
offering pain relief, joint stability, and improved mobility.
Additionally, the market is benefiting from the focus of companies on
developing advanced technology and gaining product approvals. For example, in
December 2020, Exactech performed the first ankle replacement procedure using
Vantage Ankle PSI patient-specific surgical planning and 3D-printed
instruments, while in February 2020, the United States Food and Drug
Administration approved In2Bones Global's Quantum Total Ankle for
commercialization. This advanced total ankle replacement system addresses arthritis,
improves patient mobility, enhances stability, and utilizes patient-specific
anatomy for implant placement. However, it's essential to acknowledge that the
risks associated with total ankle replacement surgery may pose challenges to
market growth in the forecast period.
The Global Total Ankle Replacement Market is segmented into design, end
user, regional distribution, and company.
Based on its design, the HINTEGRA Total Ankle Replacement segment
anticipates a substantial increase in its Compound Annual Growth Rate (CAGR)
within the Total Ankle Replacement Market during the projected period. This
growth stems from several factors, including the rising popularity of ankle
replacement surgery as a viable solution for various ankle-related problems
like chronic pain, arthritis, and end-stage osteoarthritis, as well as the
strong preference for these devices among the aging population.
Total ankle replacement, a surgical procedure involving the use of
prosthetics to replace damaged ankle components, has emerged as the leading
approach for managing end-stage ankle osteoarthritis, providing superior
outcomes. As demonstrated in a study published in May 2022 by the Journal of
Bone and Joint Surgery, titled 'Long-Term Survival of HINTEGRA Total Ankle
Replacement in 683 Patients: A Concise 20-Year Follow-up of a Previous Report,'
the long-term performance of HINTEGRA implants was examined. The results
revealed an impressive cumulative survival rate of 95% at 5 years, 86% at 10
years, and 82% at 15 years. This remarkable longevity of the HINTEGRA total
ankle replacement design is expected to drive market expansion throughout the
forecasted period.
Based on end user, hospitals and clinics are poised to dominate the
Global Total Ankle Replacement Market for several compelling reasons. Firstly,
these medical facilities serve as the primary hubs for orthopedic surgeries,
including total ankle replacements, attracting patients seeking specialized
care and expertise. Second, hospitals and clinics typically have
well-established relationships with orthopedic surgeons and other medical
professionals, enabling streamlined referrals and access to surgical services.
Third, these institutions often possess state-of-the-art infrastructure and
cutting-edge technology, which are crucial for performing complex ankle
replacement surgeries with precision. Additionally, they provide comprehensive
pre-operative and post-operative care, ensuring the best possible outcomes for
patients. Lastly, the credibility and reputation associated with hospitals and
clinics instill confidence in patients, making them the preferred choice for
individuals seeking total ankle replacement procedures, ultimately leading to
their dominance in the global market.
Major companies operating in Global Total Ankle Replacement Market
are:
- Johnson & Johnson
- Vilex Inc
- Stryker Corp
- Smith & Nephew PLC
- MatOrtho
- Zimmer Biomet Holdings,
Inc.
- Exactech Inc
- Corin Group PLC
- DJO LLC
- In2bones USA LLC
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“The global total ankle replacement market is poised for exciting
developments in the coming years. The emerging trends promise to enhance
patient outcomes, expand the scope of treatment, and make total ankle
replacement more accessible to individuals worldwide. As the market continues
to evolve, it will be essential for healthcare providers, manufacturers, and
policymakers to stay at the forefront of these trends to provide the best
possible care to patients in need of ankle joint solutions,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Total Ankle Replacement Market By Design (HINTEGRA Total Ankle Replacement, Scandinavian Total Ankle
Replacement, Salto Total Ankle Replacement, BOX Total Ankle Replacement, Zenith
Total Ankle Replacement, Mobility Total Ankle Replacement, Others), By End User
(Hospitals & Clinics, Ambulatory Care Centers, Others), By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Total Ankle
Replacement Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Total Ankle
Replacement Market.
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