Bunion Correction Systems Market Revenue Report with Forecast to 2030
Bunion Correction Systems Market to reach over USD 1499.08 million by the year 2031 – Exclusive Report by InsightAce Analytic
Market Synopsis-
The global bunion correction systems market is estimated to reach over USD 1499.08 million by 2031, exhibiting a CAGR of 7.89% during the forecast period.
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A bunion is a foot disability that affects the metatarsophalangeal joint and is treated with bunion correction systems. Bunions are brought on by hereditary issues with the foot’s structure, foot traumas, or inflammatory conditions like rheumatoid arthritis. The number of surgical implants used to treat hammertoes is increasing, and manufacturers are introducing unique solutions to accelerate market growth. The rising incidence of arthritis in the world’s population and the use of inadequately fitting shoes, which causes foot anatomical deformities, are two key factors expected to propel market expansion.
Market expansion is predicted to be sparked by increased activity, including mergers and acquisitions, by significant industry participants. The increasing arthritis prevalence is anticipated to impact market expansion favorably. Bunions are more likely to develop inflammatory arthritis, such as rheumatoid arthritis. Patients with rheumatoid arthritis increase their chance of developing bunions because their bodies wrongly target the big toe’s linings. It is predicted to contribute to the expansion of the mark are edema and mobility problems in the afflicted joint, which are signs of both illnesses. The premium economy segment will likely grow the fastest during the forecast period. Because of the enormous GDP growth in emerging economies worldwide, leisure travelers choose to fly in a premium economy.
List of Prominent Players in the Bunion Correction Systems Market:
- Stryker Corporation
- Arthrex, Inc
- Zimmer Biomet Holdings, Inc
- Wright Medical Technology, Inc
- Extremity Medical, LLC
- Acumed, LLC
- De Puy Synthes
- Biomet, Inc
- CrossRoads Extremity Systems
- BioPro, Inc
- Orthofix Holdings Inc
- OrthoHelix Surgical Designs
Market Dynamics:
Drivers-
Growing numbers of efforts, including mergers and acquisitions, taken by major industry players are anticipated to boost market expansion. In addition, it is anticipated that changing lifestyles and an increase in the working population in both developed and emerging nations will support market expansion. Other significant reasons projected to drive the market growth include the increasing prevalence of arthritis in the world’s population and the use of improperly fitting shoes, which results in foot anatomical deformities. Major industry participants’ increased activity, including mergers and acquisitions, is anticipated to spur market expansion.
Challenges:
The market was also negatively impacted by the lack of healthcare workers and the government-imposed travel restrictions made to stop the virus’s spread. Most hospitals and outpatient rehabilitation centers operated at decreased capacity, further hampered market expansion. Furthermore, the market’s expansion is constrained by a need for more public awareness.
Regional Trends:
The North American bunion correction systems market is expected to register a major market share. Some of the major factors that contributed to the growth of the market in the area include the higher prevalence of the condition there and the accessibility of treatment centers for corrective procedures. Besides, the Asia Pacific region had a substantial share in the bunion correction systems market. the rising incidence of arthritis in the world’s population, including shoes that are too small for one’s foot, which causes foot anatomical anomalies, are two important factors expected to fuel market expansion. Market expansion is accounted to be fueled by increased activity, including acquisitions and mergers undertaken by significant industry actors in this region.
Recent Developments:
- In January 2021- The DynaBunion Lapidus Method, a 4D minimally invasive surgical bunion repair system, was introduced by CrossRoads Extremity Systems. It uses small incisions to restore the normal foot structure in all four dimensions.
Segmentation of Bunion Correction Systems Market-
By Product
- Implants & Accessories
- Wearables
By End-use
- Hospitals
- Ambulatory Centers
- Specialty Centers
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
