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Foot and Ankle Allograft Market Insights on Emerging Scope 2030 | Rise In Public-Private Educational And Awareness Initiatives

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Foot and Ankle Allograft Market Insights on Emerging Scope 2030 | Rise In Public-Private Educational And Awareness Initiatives

July 01
21:02 2022
Foot and Ankle Allograft Market Insights on Emerging Scope 2030 | Rise In Public-Private Educational And Awareness Initiatives
Reports and Data | Foot and Ankle Allograft Market
Emergence of bioresorbable and Three Dimensional (3D)-printed implants and increasing research & development activities are expected to create new growth opportunities for the foot and ankle allograft market

The foot and ankle allograft market size is expected to reach USD 211.19 Million in 2030 and register a revenue CAGR of 6.6% during the forecast period, according to latest report by Reports and Data. Technological advancements and new product launches are expected to boost market revenue growth during the forecast period, as development of technologically advanced solutions is expected to generate significant growth opportunities in the market. in June 2019, for instance, Metalogix received the Food and Drug Administration (FDA) 510(k) clearance for the Revolution External Plating System, open ring fixation. It is an all-in-one system intended to be used for treatment of charcot, and foot and ankle deformities in adult and pediatric subgroups (except newborns).

Moreover, increasing Research & Development (R&D) activities to develop more advanced products is expected to drive market revenue growth. In May 2020, Amniox Medical, Inc. (Amniox), a TissueTech, Inc. company and a pioneer in the clinical application of human birth tissue-based products, announced the results of a prospective, single-center, pilot study to see if adjunctive use of cryopreserved human Umbilical Cord (cUC) allograft (CLARIX CORD 1K) could improve clinical and functional outcomes after arthroscopic repair of a talar Osteochondritis Dissecans (OCD). A talar is an injury to the talus (dome-shaped top of the ankle bone) cartilage and underlying bone within the ankle joint. Such initiatives undertaken by major product manufacturers are expected to provide a major boost to market revenue growth during the forecast period.

Increasing geriatric population is another factor expected to drive revenue growth of the market during the forecast period. Population ageing is the most important demographic trend of the twenty-first century, and due to falling fertility and longer lifespan, the share of elderly in the global population is increasing. The peculiar phenomenon of population ageing brings with it massive changes, such as increase in various chronic diseases, financial concerns, and so on, and therefore, increasing aging population is likely to drive the foot and ankle allograft market.

The world population is aging rapidly, especially in some developed economies, such as the U.S. and Japan. According to the World Health Organization (WHO), every country in the globe is witnessing an increase in the number of older people and their proportion in population. In 2019, the population of people aged 65 and above totaled 703 million, and in 2050, this figure is expected to become 1.5 billion. The proportion of people aged 65 years and above in the global population increased from 6% in 1990 to 9% in 2019, and in 2050, this percentage is expected to increase to 16%, implying that one in every six individuals on the planet will be 65 years or older in 2050.

 

 

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Some Key Highlights From the Report

  • In June 2018, the FDA approved Wright Medical’s injectable bone graft for ankle and hind foot fusion. AUGMENT Injectable has been proven to be a safe and effective alternative to autograft for hind foot and ankle fusion in a flowable formulation.
  • In April 2018, AlloSource and Stryker announced the launch of ProChondrix CR, a cryopreserved osteochondral allograft. ProChondrix CR is a single-stage, natural solution for patients in need of articular cartilage repair.
  • Cartilage restoration segment is expected to register a significantly faster growth rate over the forecast period. Rising prevalence of bone and joint disorders, such as osteoarthritis and arthritis, as well as technical improvements in cartilage regeneration, are likely to drive revenue growth of this segment. Prevalence of osteoarthritis is increasing with increasing geriatric population and accompanying conditions such as obesity. Osteoarthritis is a leading cause of disability in the United States, affecting approximately 20.0 million people in 2012, and this figure is expected to rise to 40.0 million in the next ten years. Over 30.0 million adults in the United States have this condition, while over 12.0 million people in the United States suffer from knee discomfort. Furthermore, osteoarthritis affects approximately 15.0 million Indians each year, whereas arthritis affects approximately 10.0 million people in the United Kingdom.
  • Ambulatory surgical centers segment is expected to register a significantly faster growth rate over the forecast period. Revenue growth of this segment is expected to be driven by high prevalence of orthopedic disorders, such as degenerative bone disease and a spike in the proportion of road accidents. Furthermore, growing need to reduce healthcare costs and a shift from inpatient to outpatient surgical procedures are expected to boost revenue growth of the ambulatory surgical centers segment over the forecast period. Additionally, use of allograft allows many foot and ankle fusions to be performed as outpatient procedures, which is expected to have a positive impact on this segment.
  • The market in Europe is expected to register a robust revenue CAGR over the forecast period, and revenue growth of this regional market can be attributed to increasing geriatric population. According to Eurostat, in 2020, more than one fifth of the European Union (EU) population (20.6%) was 65 years or older, and between 2020 and 2100, the proportion of people aged 80 years and above in the EU population is expected to increase by two and a half times, from 5.9% to 14.6%. The need for allograft has risen dramatically, owing to increase in the number of revision arthroplasties performed in an aging population, and the trend of novel minimally invasive surgery, notably in the foot and ankle. In recent years, availability of allograft has increased dramatically and in Europe, it is the most commonly used bone substitute.  
  • Some major players profiled in the market report include CONMED Corporation, Wright Medical Group N.V., AlloSource, Bone Bank Allografts, RTI Surgical Holdings, Inc., Zimmer Biomet, JRF Ortho, Integra Life Sciences Corporation, Smith & Nephew Plc, and DePuy Synthes, among others.

For this report, Reports and Data has segmented the foot and ankle allograft market based on product type, application, surgery type, end user, and region: 

  • Product Type Outlook (Revenue, USD Million, 2019-2030)
    • Allograft Wedges
    • Allograft Tendons
    • Allograft Acellular Dermal Matrix
    • Cartilage Allograft Matrix
  • Application Outlook (Revenue, USD Million, 2019-2030)
    • Arthritis
    • Hammer toe
    • Osteoporosis
    • Others
  • Surgery Type Outlook (Revenue, USD Million, 2019-2030)
    • Orthopedic Reconstruction
    • Cartilage Restoration
    • Soft Tissue Tendon & Ligament Repair
  • End User Outlook (Revenue, USD Million, 2019-2030)
  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers
  • Regional Outlook (Revenue, USD Million, 2019-2030)
    • North America
      1. S.
      2. Canada
    • Europe
      1. Germany
      2. France
      3. K.
      4. Italy
      5. Spain
      6. Rest of Europe

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