DePuy Synthes Companies (US) and Stryker corporation (US) are leading players in Foot and Ankle Devices Market
The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017–2020 to expand their global presence and increase their market shares in the foot and ankle devices market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Acquisitions were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. In 2019, the foot and ankle devices market was dominated by DePuy Synthes Companies (US), Stryker corporation (US), Zimmer Biomet Holdings Inc(US), Smith & Nephew plc (UK), and Arthrex Inc (US).
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DePuy Synthes Companies (US) has a wide range of product offerings in the foot and ankle devices market, including internal fixation devices, external fixation devices, joint implants and musculoskeletal reinforcement d evices products. The company sustains its key position in the global foot and ankle devices market owing to its multiple product launches. DePuy Synthes has a strong product portfolio, supporting around one million orthopedic and neuro procedures worldwide.The company is focused on innovations and improving the quality of its products with increasing investment in its R&D department. DePuy Synthes global footprint allows it to cater to a customer base across 60+ countries such as Germany, the UK, South Korea, France, Australia, and the US.
Stryker corporation (US) is a leader in the global foot and ankle devices market. The company’s products are sold in approximately 100 countries through company-owned sales subsidiaries and branches as well as third-party dealers and distributors. Stryker has a very strong and innovative portfolio of foot and ankle devices products, which is a key factor for the company’s strong position in this market. Its strong brand recognition, extensive product portfolio, and strong geographical presence provide the company an edge over its competitors in the trauma products market. The company mainly focuses on inorganic growth strategies to gain a competitive edge in the market. The acquisition of US -based Wright Medical Group (US) in 2020 are expected to expand the company’s business segments and strengthen its position in the foot and ankle devices market.
Related Reports:
Foot and Ankle Devices Market by Product [Implants, Plates, Screw, Wires, Internal Fixators, Braces, Prosthesis (SACH, Single/Multi-Axial)], Application (Rheumatoid Arthritis, Osteoporosis, Hammertoe), Enduser (Hospital, ASCs) - Global Forecasts to 2025
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