Saudi Arabia Foot & Ankle Devices Market to Grow With Advancing Technology until 2027
Rising
disposable income for quality healthcare is driving the growth of the Saudi
Arabia Foot & ankle devices Market, in the forecast period, 2023-2027F.
According to TechSci report on, “Saudi
Arabia Foot
& Ankle Devices Market - By
Region, Competition Forecast & Opportunities, 2027”, Saudi
Arabia foot & ankle devices market is anticipated to grow with an
impressive CAGR in the forecast period, 2023-2027 on the account of growing
instances of osteoporosis among the population of the country. Increasing
geriatric population in the country along with their susceptibility toward
osteoporosis which is a bone density deterioration disease is anticipated to
drive the growth of the Saudi Arabia foot & ankle devices market in the
upcoming five years. Also, consistent research & innovative product
development in also responsible for the market growth. Technological
development in the medical devices like foot & ankle treatment medical
devices, disease diagnosing devices, and surgical instruments are also
supporting the growth of the Saudi Arabia foot & ankle devices market in
the future five years. Number of road accidents, and mishaps or accidental
falls in daily routines may occur randomly. Increasing instances of such
accidents causes fracture, that induce pain, discomfort, etc. The treatment for
the same often requires surgical processes, or 3D imaging to diagnose the
conditions of the limbs, thus further substantiating the growth of the Saudi
Arabia foot & ankle devices market in the forecast years until 2027. Increasing
investments in the medical device development, and for researches to advance
the technologies and functionalities of these medical devices also play a vital
role in the growth of the market.
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The Saudi Arabia
foot & ankle devices market is segmented product type, procedure,
application, end user, competitional landscape, and regional distribution.
Based on product type, the market is segmented into joint implants, fixation
devices, soft tissue orthopedic devices, bracing & support devices, and
prostheses. Joint implants are anticipated to hold the largest revenue shares
of the market and dominate the market segment in the upcoming five years on the
grounds of increasing geriatric population of the country. Increasing cases of
accidental falls, among the mid-adult and geriatric population is surging the
demands for joint implants, and thus driving the growth of the Saudi Arabia
foot & ankle devices market in the next five years. Bracing & support devices
segment is also anticipated to grow due to increasing instances of osteoporosis
among the population of the country, that leads to poor bone density and the
patients require artificial support to maintain their stand. Prostheses segment
is anticipated to register significant growth in the next five years due to
increasing foot & ankle surgical devices. Increasing instances of sports
accident, military accidents, etc. lead to the further growth of the prostheses
devices and thus support the growth of the market too.
Application
segment of the market is fragmented into trauma & hair line fractures,
rheumatoid arthritis & osteoarthritis, diabetic foot diseases, ligament
injuries, and others. Trauma & hairline fracture applications are
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years on the account of increasing
instances of sports accidents, road accidents, and accidental falls at homes.
Diabetic foot diseases application segment is also expected to register
significant growth in the next five years on the grounds of increasing
instances of diabetic mellitus among the population. Majorly geriatric
population is affected by the diseases, thus growing geriatric population of
the country is also responsible for the growth of the Saudi Arabia foot &
ankle devices market along with the application segment in the forecast years.
A partial list
of major market players of the Saudi Arabia foot & ankle devices market
includes :
- Johnson & Johnson
- Stryker Corporation Saudi Arabia
- Zimmer Biomet Saudi Arabia
- Arthrex Saudi Arabia
- CONMED Corporation Saudi Arabia
- Orthofix Medical Saudi Arabia
- Ottobock Saudi Arabia
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“Healthcare system in the country demands for increased investments and
financial stability. The rapidly growing instances of diseases, abnormalities,
infections, in the limbs and surging demand for the early and effective
treatment for the population is anticipated to support the growth of the Saudi
Arabia foot & ankle devices market in the recent years. Moreover, with
increasing demands for technologically advanced devices and innovative products
for the best possible patient care is also aiding to the growth of the market. New
market players may align themselves with the government authorities to identify
the geographies that are in urgent need of advanced medical devices. Merger
& acquisitions with the global giants to facilitate the product development
would support their brand establishment in the future market,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi
Arabia Foot & Ankle Devices Market By Product Type (Joint Implants,
Fixation Devices, Soft Tissue Orthopedic Devices, Bracing & Support
Devices, Prostheses), By Procedure (Osteotomy, Fracture Repair, Fusion
Procedures, Others), By Application (Trauma & Hair line Fractures,
Rheumatoid Arthritis & Osteoarthritis, Diabetic Foot Diseases, Ligament
Injuries, Others), By End User (Hospitals, Ambulatory Surgery Centers,
Orthopedic Clinics, Rehabilitation Centers), By Region, Competition Forecast &
Opportunities, 2027” has
evaluated the future growth potential of Saudi Arabia foot & ankle devices 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 Saudi Arabia foot & ankle devices market.
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