LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global lower extremities market is projected to grow to USD 4.7 billion by 2021, at a CAGR of close to 8% over the forecast period.
This research report titled ‘Global Lower Extremities Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|The lower extremities include foot, toes, ankles, knees, and thighs. The lower extremities market includes products that are used to treat, repair, replace, or heal extremity injuries such as fractures and damage. The introduction of technologically advanced products is expected to drive the global lower extremities market over the forecast period.|
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Based on the product, the report categorizes the global lower extremities market into the following segments:
- Braces and supporting systems
Braces and supporting systems
“Braces and supporting systems occupied a majority 56% of the market in 2016, and their share is expected to increase over the forecast period. The introduction of advanced titanium implants and prosthetic limbs will boost the growth of the market segment,” says Srinivas Sashidhar, a lead analyst at Technavio for orthopedics and medical devices research.
The braces and supporting systems include braces, implants, and plates, which are in high demand due to the rise in individuals aged above 50 and the increasing number of accidental cases drives the adoption of these devices in the market.
Lower extremities accessories include pins, anchors, nails, and wires, which are used independently or in conjunction with supporting devices such as plates and rods. They are mainly used for trauma and reconstructive products in shoulder replacement and elbow and wrist reconstruction.
Intramedullary (IM) nailing, minimally invasive (MI) osteosynthesis and retrograde nailing are the most adopted procedures which utilize accessories. Also, the increasing partnership between companies and rise in novel product development will boost the growth of the market segment.
“Orthobiologics empowers the healing process of fractured bones through regenerative procedures such as stem cell therapy and tissue scaffolds. Companies such as OsteoMed, Skye Biologics, and Arthrex are developing orthobiologics for lower extremities,” says Srinivas.
Various entities are funding research institutes to provide quality assurance for the orthobiologic products developed. This enables manufacturers to develop innovative products and expand their portfolio and successfully tap the new markets.
The top vendors highlighted by Technavio’s research analysts in this report are:
- DePuy Synthes
- Zimmer Biomet
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