Foot Drop Treatment Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Foot Drop Treatment market in 2021?

The global foot drop treatment market size in 2021 was estimated to be USD 400 million. With a compound annual growth rate (CAGR) of 4.5%, the market is expected to reach USD 550 million by the end of 2021.

COVID-19 Impact on the Foot Drop Treatment Market

The COVID-19 pandemic has had a significant impact on the foot drop treatment market. As healthcare systems around the world focused on dealing with the pandemic, non-urgent medical procedures, including foot drop treatments, were postponed or canceled. This led to a temporary decline in the demand for foot drop treatment products and services. However, as healthcare systems stabilize, the market is expected to recover gradually.

Foot Drop Treatment Dynamics

The foot drop treatment market is driven by a rising incidence of neurological disorders, such as stroke, multiple sclerosis, and spinal cord injury, which are common causes of foot drop. The growing elderly population and increasing awareness about available treatment options are also fueling market growth. Technological advancements in devices and therapeutic options for foot drop are further contributing to the expansion of the market.

Segments and Related Analysis

By Treatment Type:

The foot drop treatment market can be segmented into surgical and non-surgical treatments. Surgical treatments include tendon transfers and nerve decompression, while non-surgical treatments involve the use of orthoses and electrical stimulation devices. The non-surgical segment is expected to witness faster growth due to the non-invasive nature of these treatments.

By End-User:

The end-users of foot drop treatment products and services include hospitals, clinics, and ambulatory surgical centers. Hospitals are the major end-users due to their advanced facilities and specialized medical professionals. However, the increasing trend of outpatient procedures is boosting the demand for foot drop treatments in clinics and ambulatory surgical centers.

By Region Analysis

North America:

North America dominates the foot drop treatment market due to the high prevalence of neurological disorders and a well-established healthcare infrastructure. The presence of key market players and technological advancements in the region further contribute to market growth.

Europe:

Europe is the second-largest market for foot drop treatment, driven by the increasing geriatric population and rising healthcare expenditure. The adoption of advanced treatment options and favorable government initiatives for neurological disorders support market growth in the region.

Asia Pacific:

The Asia Pacific region is witnessing rapid growth in the foot drop treatment market due to the rising awareness about neurological disorders and improving healthcare infrastructure. The increasing disposable income and expanding elderly population in countries like China and India are propelling market expansion.

Key Market Players and Competitive Landscape

Some of the key players in the foot drop treatment market include Stryker Corporation, Bioness Inc., Ottobock, MediKinesis, and AposTherapy. These companies focus on product innovation, strategic collaborations, and market expansion to maintain their competitive edge in the market.

Recent Happenings in the Foot Drop Treatment Market

In recent developments, Stryker Corporation launched a new foot drop treatment device that offers improved mobility and comfort for patients. Bioness Inc. introduced a cutting-edge functional electrical stimulation system for foot drop management. These advancements in technology and treatment options are expected to drive the growth of the foot drop treatment market in the coming years.