Ankle Splint Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[214+ Pages Report] According to Facts and Factors, the global Ankle Splint 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 approximately 8.10% over the forecast period. The report analyzes the Ankle Splint 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 Splint market.

Market Overview

Ankle Splint s 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. 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.

COVID-19 Impact:

The COVID-19 pandemic has impacted the businesses of Ankle Splint s. The COVID-19 pandemic spread throughout the world as strict lock-downs are implemented by governments and shut down companies. Thus, the movement of people is restricted during the covid-19 pandemic. Therefore, the global Ankle Splint market is likely to be impacted considerably during the forecast period. Besides that, the uncertain use of these types of Ankle Splint devices impacted the market growth during the pandemic period.

Key Insights

• The global Ankle Splint market accounted for USD 2172.50 million in 2021.
• By Type, the air-stirrup ankle brace segment dominated with accounted significant market share in 2021.
• In 2021, North America captured the largest revenue share of the global market.
• The global Ankle Splint market is projected to grow at a CAGR of 8.10% from 2022 to 2028.
• By Application, the chronic ankle sprains segment accounted significant amount of market share in 2021.
• The growth factors for the market are the various advantages of Ankle Splints and advancements in Ankle Splints by market players all over the world, which drive the market growth during the forecast period.

Growth Drivers

• The growing number of sports activities aids the global market growth

Increasing levels of amateur sports and activity, the elderly population in major markets around the world, and the number of elective orthopedic surgeries, including increasing cases of osteoarthritis, are major orthopedic diseases that affect product demand. This is the most common form of arthritis and affects populations of all ages. By 2040, the Centers for Disease Control and Prevention (CDC) predicts that approximately 78 million U.S. adults over the age of 18 will be diagnosed with arthritis.

The elderly population is recognized as one of the largest contributors to the demand for orthopedic braces and braces. This demographic is very prone to musculoskeletal disorders. Connective tissues such as bones, ligaments, and cartilage naturally weaken with age. This increases the risk of muscle damage to the knees and shoulders, primarily in the elderly. Thus, the growing number of sports activities throughout the world is expected to support the market growth during the forecast period.

Restraints

• The high-risk involvement may hamper the global market growth

The key restraints for the Ankle Splint market are the high cost of these devices is a major restraint that is expected to impede the growth of the global Ankle Splint market during the forecast period. Surgical site infections are another challenging factor that can impede the growth of the global Ankle Splint market.

Opportunities

• The growing geriatric population brings up several growth opportunities

The growth of the aged population, along with the growth rate of orthopedic diseases, is expected to drive the growth of the global Ankle Splint market during this forecast period. For instance, according to a National Health Interview Survey, about 22.7% of the U.S. population is diagnosed with arthritis each year. In addition, continued technological advances in this area will further accelerate the growth of the global Ankle Splint market during the forecast period. Therefore, innovation in product development helps to increase the adoption of Ankle Splint globally.

Challenges

• The high cost of Ankle Splint is a global challenge: the high cost of installation and maintenance of Ankle Splint s is a global challenge as it hinders the adoption of these types of equipment by hospitals and other end users.
• Adoption of pain medication is also a barrier for market players due to topical, oral, and parenteral analgesics commonly used to effectively manage pain associated with musculoskeletal disorders such as tendinitis, carpal tunnel syndrome, and osteoarthritis. Orthopedic braces are used as part of a non-invasive approach to pain management during compression therapy (cold, hot, or traditional compression therapy), but because of the low awareness of the benefits of orthopedics, this is the case. The uptake of painkillers for use is high. The unfavorable redemption scenarios for braces and their products pose a challenge to this market.

Segmentation Analysis

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 Brace and Other. Among these, the air-stirrup ankle brace segment dominates the market, accounting for a significant percentage of global sales due to the increasing penetration of smartphones globally, and also it will be the fastest growing segment globally during the forecast period due to the increasing awareness regarding mobile health.

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 due to the increased sports injuries and road accidents which raise the demand for chronic ankle sprains. On the other hand,the rising number of chronic disease patients also supports the growth of the chronic ankle sprains segment growth.

Report Scope

Recent Developments

• July 2021-DJO LLC (U.S.) has renewed its partnership with USA Lacrosse. DJO has been the official sports support for USA Lacrosse and the U.S. national team since 2017. The renewal will extend the partnership until 2024.
• September 2021-Ossur has 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.

Regional Landscape

• The presence of market players and advancements help North America dominate the global market

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.

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.

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.

Competitive Landscape

Key players within the global Ankle Splint market include 

• Breg 
• Bauerfeind Braces 
• Bird & Cronin 
• SAFTE Italia 
• Ossur Americas 
• Allied OSI Labs 
• Thuasne 
• BORT Medical 
• RCAI Restorative Care of America 
• Aircast

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