Total ankle arthroplasty (TAA) is a surgical procedure that helps to relieve pain and maintain motion in an arthritic or injured joint. The fibula, tibia, and talus bones make up the ankle joint. The talus, which is between the leg and foot bones, articulates with the fibula (smaller bone of the lower leg) and tibia (shinbone). TAA is an alternative treatment to ankle fusion, which can relieve pain, but often limits the motion of the joint since the procedure permanently fuses the bones together. Over several generations, TAA has now been able to maintain stability in the use of the ligaments.
Materials used in total ankle arthroplasty include metal materials, alloy materials and resin materials. Currently, alloy is the most commonly used material in total ankle arthroplasty, occupying 41.78% of the market share. Alloy materials include titanium alloy, stainless steel, etc. Titanium alloy has good biocompatibility, but its high friction coefficient is not suitable for manufacturing joint surfaces. Stainless steel is easy to corrode, high elastic modulus, easy to produce stress shielding, and is rarely used now. And cobalt-based alloy materials have good fatigue resistance and wear resistance. In 2020, the market value of alloy materials has reached $133.68 million.
TAA is applied in the fields of osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis. As one of the most common joint diseases, osteoarthritis not only causes damage to the articular cartilage, but also affects the entire joint. Eventually, degeneration, fibrosis, rupture, ulceration and damage to the entire articular surface of the joint occur. Typical clinical manifestations include pain, stiffness and joint deformation. Rheumatoid arthritis is a chronic, systemic disease with inflammatory synovitis that can lead to joint deformity and loss of function. Post-traumatic arthritis is a common form of osteoarthritis that occurs due to a physical injury of any kind to a joint. This loss may damage cartilage or bone, which alters the mechanics of the joints and causes them to wear out more quickly. Osteoarthritis accounts for the vast majority of the market, with a market share of 51.4%.
Global Total Ankle Arthroplasty Market Status and Prospect Analysis
The total revenue of the market was $221.79 million in 2020 and is expected to increase to $317.68 million by 2025. In 2020, North America, Europe, and Asia Pacific are the three largest markets in the global total ankle arthroplasty industry with revenue market shares of 39.69%, 36.48%, and 15.65%, respectively.
North America is the largest revenue market and its market value has reached $88.02 million in 2020, of which the US holds 83.64% market share.
Europe ranks second in the world with a market value of $80.92 million. Germany, UK, France and Italy are the major consumer markets for TAA in the Europe due to their developed economies, advanced technology and strong purchasing power.
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The market value of Asia Pacific was $34.7 million in 2020. China and Japan are the major consumer markets in the region, accounting for 35.09% and 25.72% of the market share respectively. With the growth of many emerging economies in Asia Pacific, the market share is expected to further expand by 2025 and will reach a market value of $56.32 million.
Opportunities and Challenges in the Global Total Ankle Arthroplasty Market in the Age of Aging
The total ankle arthroplasty market is primarily driven by the aging population and the prevalence of rheumatoid and osteoarthritic diseases. The proportion and absolute number of elderly population is increasing drastically across the world due to the continuous decline in fertility levels and increase in life expectancy per capita. Population aging has become a common global trend. Therefore, the increasing trend of sports injuries and aging population provides a broader market for the development of total ankle arthroplasty.
Although the current era provides a favorable environment for the development of the market, the risks of the procedure also pose many challenges. Because modern implant designs come with some risk, clinical success often depends heavily on the experience of the physician and implant technique. As with all joint replacement procedures, the plastic components between the metal devices may wear down and may cause the implant to loosen from the bone. All of these factors can add to the instability of the market.
Globally, only a few major players control a major share of the total ankle arthroplasty market, mainly because of the lack of technical expertise and strict regulatory measures. Especially in some developing countries with poor health insurance systems and reimbursement systems, expensive medical expenses are more burdensome for them, which is also limiting the growth of the market to some extent.
Faced with these challenges, companies in this industry should focus on technological innovations to promote market growth. To remain competitive in the highly competitive market, manufacturers should develop new ideas and technologies and keep pace with advanced technologies. In addition, they should also pay attention to the market research that customers respond to in the use of the products and continuously improve the product design and solutions. At the same time, it is also important to focus on the development of new materials to keep up with the times.
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