The European total ankle replacement (TAR) market is projected to grow at a compound annual growth rate (CAGR) of 5.7%, according to a report by research and consulting firm GlobalData.
Titled ‘MediPoint: Digit Replacement – Europe Analysis and Market Forecasts’, the report, which covers 21 countries, forecasts the TAR market to increase in value from $57.3m in 2016 to $84.6m in 2023.
The growth is attributed to an increase in TAR patients, especially the elderly population who experience wear and tear of joints, and development of treatment for late-stage ankle arthritis patients to retain range of motion. Improvements in medical education and adoption of TAR among surgeons are also expected to contribute to the growth.
Previous generations of TAR products were plagued with problems such as extensive bone resection, whereas the current-generation products minimise resection and improve implant stability. Manufacturers are also developing pre-operative evaluation techniques to generate better results.
TAR has also emerged as an effective alternative to joint fusion as third-generation implants have demonstrated their efficacy in relieving arthritic pain and restoring range of motion, states Tobe Madu, MSc, Healthcare Analyst. Advanced implant designs and positive results from long-term viability trials have also prompted major insurers to revise coverage policies to provide patient access to TAR.
In terms of market share, Germany was the biggest in Europe in 2016 with 38% of the regional revenue. The country is projected to maintain its dominance during the forecast period. The Czech Republic, Hungary and the Netherlands are expected to grow at a CAGR of 7.6% and become the fastest-growing markets during the forecast period. Greece and Turkey, however, are expected to maintain status-quo during the same period.
The report adds that the TAR market is dominated by a few companies including Stryker, Integra LifeSciences, Wright Medical, DePuy Synthes, and Zimmer Biomet. Reputable brands backed by clinical research data are primary reasons driving adoption of their products.
For new entrants, the TAR market is not profitable enough due to the cost involved in getting a product to the market, adds Madu. The major players in the market are, therefore, expected to continue their dominance by enhancing their product mix and improving product efficiency.