Foot and Ankle Allograft Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product (Allograft Wedges, Allograft Tendons, Allograft Acellular Dermal Matrix, Cartilage Allograft Matrix, Skin Allografts, Amniotic Membranes); By End-User (Hospitals, Ambulatory Surgery Centers, Orthopedic Clinics, Rehabilitation Centers) and Region/Country.
The foot and ankle allograft market is expected to witness a CAGR of around 7% during the forecast period (2021–2027). Allografts procedures are most commonly used in reconstructive surgeries around the foot and ankle. It involves the transfer of healthy cartilage to replace the damaged cartilage and restore the normal function of the foot. The cartilage that can be taken from a donor is considered for large defects. The rising prevalence of orthopedic diseases, rising geriatric population also increases the incidence of diabetic foot ulcers and other chronic wounds, and the rise in the launch of new products and R&D activities in bioresorbable and 3D printed implants is expected to create new opportunities for this market which are some key factors that drive the growth of foot and ankle allograft market during the forecast period. For instance, in March 2019, MTF Biologics launched a putty-like cartilage allograft, CartiMax Viable Cartilage Allograft, designed to easily fill lesions in the knee, foot, and ankle.
Stryker Corporation, Zimmer Biomet holdings inc., Smith & Nephew plc, Arthrex inc., Össur hf., Integra LifeSciences, CONMED Corporation, Orthofix Medical Inc., aap Implantate AG, Acumed LLC are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with the new and advanced foot and ankle allograft treatment.
Insights Presented in the Report
“Amongst Product, the allograft tendons category accounted for the majority share in the market in 2020”
Based on product, the foot and ankle allograft market is segmented into allograft wedges, allograft tendons, allograft acellular dermal matrix, cartilage allograft matrix, skin allografts, and amniotic membranes. The allograft tendons category is anticipated to witness a significant growth rate during the forecast period. This is mainly due to the rising trauma cases, fractures, arthritis, foot & ankle implants, etc. In addition, limb salvage which is a limb reconstruction procedure is often used for patients with severe diabetic food infections and for those with cancer in the foot or ankle bones, this is one of the most prominent factors driving the growth of this category. For instance, according to NCBI in 2017, the prevalence of diabetic foot ulcers was 6.3% across the world.
“Amongst End-User, the hospitals and clinics category is expected to witness the highest CAGR during the forecast period”
Based on end-user, the foot and ankle allograft market is categorized into hospitals, ambulatory surgery centers, orthopedic clinics, and rehabilitation centers. The hospitals and clinics category dominated the foot and ankle allograft market and is expected to grow significantly in the forecast period. This category is especially driven by the higher number of patients with rheumatoid arthritis, ligament injuries, foot ulcers, osteoarthritis, and the availability of skilled professionals & surgical equipment in hospitals are some reasons for the growth of this segment. In addition, more than 90% of people with rheumatoid arthritis (RA) develop symptoms in the foot and ankle-related disease. Furthermore, according to the National Institutes of Health (NIH), Out of every 100,000 people, 71 are diagnosed with rheumatoid arthritis every year. About 1.5 million Americans have rheumatoid arthritis.
“North America to witness significant growth during the forecast period”
For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a considerable market share. This is mainly due to the well-established healthcare infrastructure, high income, and the rising incidence of arthritis in the region driving the growth of the foot and ankle allograft market. For instance, the Centers for Disease Control and Prevention (CDC), estimates that 1 in 4 (or 54.4 million) US adults have some form of arthritis, a figure that is projected to reach 78 million by the year 2040.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Foot and Ankle Allograft Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the foot and ankle allograft market were the three major steps undertaken to create and analyze the adoption of the foot and ankle allograft market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the foot and ankle allograft market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the foot and ankle allograft market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the foot and ankle allograft market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the foot and ankle allograft market. Further, we conducted factor analysis using dependent and independent variables such as various products, and end-user of the foot and ankle allograft market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the foot and ankle allograft market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the foot and ankle allograft market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the foot and ankle allograft market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the foot and ankle allograft market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the foot and ankle allograft market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product and end-user in the foot and ankle allograft market.
The main objective of the Foot and Ankle Allograft Market Study
The current & future market trends of the foot and ankle allograft market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the foot and ankle allograft market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product and end-user.
- Define and analysis of the regulatory framework for the foot and ankle allograft market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the foot and ankle allograft market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the foot and ankle allograft market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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