Global Ankle Splint Market is Likely to Grow at A CAGR Value of Around 8.10% by 2028

03-Aug-2022 | Facts and Factors

According to Facts and Factors, the global ankle splints market size was worth USD 2,172.50 million in 2021 and is estimated to grow to USD 3,466.68 million by 2028, with a compound annual growth rate (CAGR) of around 8.10% during the forecast period. The report analyzes the ankle splints market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the ankle splints market.

Ankle splints are defined as rigid or flexible devices used to heal injuries and disabilities that affect the ankle and foot. These injuries are usually caused by accidents or falls. Also, hammer toes, arthritis, hallux valgus, and diabetic feet are some conditions that may require surgical intervention with subsequent use of ankle splint devices.

Browse the full “ Ankle Splint Market Size, Share, Growth Analysis Report By Type (Air-Stirrup Ankle Brace, and Other), By Application (High Ankle Sprains, Sub-acute Ankle Sprains, and Chronic Ankle Sprains), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/ankle-splint-market

Furthermore, ankle splints offer several advantages over traditional products, such as affordability, patient comfort, effectiveness, and ease of use. This is expected to increase demand for these products during the forecast period. In addition, key players are increasingly focusing on developing specialized products to treat various ankle diseases and malformations and meet the needs of unmet markets. Whereas the high cost of ankle splint devices and concerns regarding surgical site infections restraint the market growth during the forecast period. Moreover, the rising number of road accidents and sports injuries which has a chance of ankle problems, offer opportunities for market players due to the rise in the demand for ankle splint devices during the forecast period.

Segmental Overview

The global ankle splint market is segregated on the basis of type, application, and region. By type, the market is divided into air-stirrup ankle braces and others. Among these, in 2021, the air-stirrup ankle brace segment dominated the market, accounting for a significant percentage of global sales due to the increasing penetration of smartphones globally. By application, the market is bifurcated into high ankle sprains, sub-acute ankle sprains, and chronic ankle sprains. Over the forecast period, the chronic ankle sprains segment is expected to develop at the fastest rate.

Regional Overview

North America dominated the world's ankle splint market in 2021. Due to the presence of major players and technically equipped hospitals in the United States and Canada, there was a significant stake in the North American region. Furthermore, Europe held the second largest market share as the number of surgeries increased due to the aging population and the prevalence of chronic diseases. According to the Federal Bureau of Statistics, about 17.2 million surgeries were performed in Germany in 2019. Thus, these bowel, spine, endoscopy, and hip implant surgery were some of the most common. This is estimated to contribute to the share of the region. 

Moreover, the Asia Pacific region is expected to grow at the fastest CAGR of over 9.0% over the next few years. The reason for this is the corporate investment to expand its presence in the region and expand its healthcare infrastructure. For instance, in January 2021, the All-India Institute of Medical Sciences (AIIMS) in Bhubaneswar, India, procured Medtronic accessories and consumables for ship-sealed ablation equipment through SushrutaSurgicals Pvt, an authorized distributor in India. The products must be equipped in the Department of Surgical Oncology of the Institute.

Report Scope

Key Players Insights

The report contains qualitative and quantitative research on the global ankle splints market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key market players in the global ankle splints market include the Breg, Bauerfeind Braces, Bird & Cronin, SAFTE Italia, Ossur Americas, Allied OSI Labs, Thuasne, BORT Medical, RCAI Restorative Care of America, and Aircast.

Recent developments:

• In July 2021, DJO LLC renewed its partnership with USA Lacrosse. DJO has been the official sports support for USA Lacrosse and the US national team since 2017. The renewal will extend the partnership until 2024.
• In September 2021, Ossur expanded its portfolio with the launch of REBOUND ACL equipment. This product has been shown to assist patients recovering from anterior cruciate ligament (ACL) injury. Otto Bock is another major market player offering a wide range of equipment and support for the spine, knees, shoulders, feet and ankles, hips and elbows/wrists/hands.

The global Ankle Splint market is segmented as follows:

By Type

• Air-Stirrup Ankle Brace
• Other

By Application

• High Ankle Sprains
• Sub-acute Ankle Sprains
• Chronic Ankle Sprains

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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