ID: MRFR/Pharma/3757-HCR | 90 Pages | Published By Rahul Gotadki on March 2023
The bunion treatment market is expected to grow at a CAGR of approximately 6.80% during the forecast period 2020-2030. A bunion is an enlargement of bone or tissue around the joint at the base of the big toe. The big toe may turn toward the second toe. The tissues around the joint may be swollen and tender. People in occupations such as teaching and nursing, which involve a lot of standing and walking are susceptible to bunions. Moreover, professions such as ballet dancers are also susceptible to severe repetitive stress. Women can develop bunions and other foot problems during pregnancy as the hormonal changes loosen the ligaments and flatten the feet. Bunions are also associated with arthritis, which damages the cartilage within the joint. There is a high prevalence of Bunion Treatment Market in the overall population with 23% of adults aged 18-65 years and 35.7% of adults over 65 years of age. Usually, the prevalence is higher in women (30%) than in males (13%) and that of elderly is approximately 35.7%.
The treatment includes the use of bunion shields or pads, which can reduce pressure on the bunion. Custom insole orthotics can be made depending on the structure of the foot and severity of the bunion. Such insoles can slow the progression of the bunion. Bracing is used as a part of post-operative rehabilitation therapy. Furthermore, anti-inflammatory medications such as acetylsalicylic acid (aspirin, ecotrin), ibuprofen, and naproxen (anaprox, naprelan, naprosyn, aleve) may ease the inflammation and pain. This inflammation can often be relieved by a local injection of cortisone.
Osteoporosis causes decrease in the bone density causing fractures even after minor trauma. Almost 8.9 million people suffer from the disease annually causing an osteoporotic fracture every 3 seconds. It majorly affects menopausal women and causes 1 out of 3 women over the age of 50 to experience an osteoporotic fracture. The most common complication is a recurrence of the bunion, reported in as many as 16% of cases. This may happen when only the bony prominence is shaved off and the underlying deformity is not corrected.
The Bunion Treatment Market is segmented on the basis of diagnosis, treatment, and end-users.
On the basis of the diagnosis, the Bunion Treatment Market is segmented into medical history, physical examination, X-rays, radiography, and others.
On the basis of the treatment, the Bunion Treatment Market is segmented into self-care, medications, devices, medical procedures, and surgery. The self-care is segmented into wide shoes, cold compress, and bunion pads. The medication is sub-segmented into analgesic and non-steroidal anti-inflammatory drug. The device is segmented into braces. The medical procedure is divided into callus shaving and the surgery is classified into bone surgery. Furthermore, the bone surgery is classified into different types including distal chevron osteotomy, scarf or ludloff osteotomy, crescent osteotomy, and lapidus procedure.
On the basis of the end-user, the Bunion Treatment Market is segmented into healthcare service providers, podiatrists, research organizations, and academic institutes.
The bunion treatment market consists of countries namely America, Europe, Asia Pacific, and the Middle East and Africa.
The Americas is projected to hold the largest share of the bunion treatment market due to the trending lifestyle in the U.S. Mergers and acquisitions are also expected to contribute to the market growth. For example, Stryker Corporation’s acquisition of the assets of Small Bone Innovations in 2014 added to the company’s small joint replacement products, following which the net sales of the company increased by 9.6% in the same year. All the aforementioned factors are anticipated to boost the Bunion Treatment Market growth in the U.S. and ensure its dominance over the forecast period.
Europe is expected to capture the second lead in Bunion Treatment Market in the coming five years owing to substantial technological advancements. The market in the Asia Pacific is expected to witness the fastest growth rate within the forecast period due to increasing geriatric population coupled with increasing number of podiatrists. Additionally, better and improving healthcare infrastructure and increasing healthcare spending are also expected to boost the market growth in this region within the forecast period. Latin America and the Middle East and Africa are also expected to show a healthy growth in the coming five years.
The existing players are strengthening their foothold in the industry by introducing technologically advanced products. Regulatory bodies such as the US FDA and the European CE mark, although stringent, are approving equipment that fulfills all clinical data requirement and other safety criteria. For instance, in September 2015, Extremity Medical received FDA approval for IOFiX Foot and Ankle System.
Some of key the players in the bunion treatment market are Stryker Corporation (U.S.), Arthrex, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Smith & Nephew plc (U.K.), Wright Medical Technology, Inc. (U.S.), Integra LifeSciences Holdings Corporation (U.S.), Tornier N.V. (Netherlands), Össur (Iceland), Acumed, LLC (U.S.), and Extremity Medical, LLC (U.S.), De Puy Synthes (U.S.), Biomet, Inc. (U.S.), BioPro, Inc. (U.S.), Orthofix Holdings Inc. (U.S.), OrthoHelix Surgical Designs, Inc. (U.S.), Mondeal Medical Systems GmbH (Germany), and others.
Sources: Annual reports, Press release, White paper, and Company presentation
|Market Size||2030: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Diagnosis, Treatment and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Stryker Corporation (U.S.), Arthrex, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Smith & Nephew plc (U.K.), Wright Medical Technology, Inc. (U.S.), Integra LifeSciences Holdings Corporation (U.S.), Tornier N.V. (Netherlands), Össur (Iceland), Acumed, LLC (U.S.), and Extremity Medical, LLC (U.S.), De Puy Synthes (U.S.), Biomet, Inc. (U.S.), BioPro, Inc. (U.S.), Orthofix Holdings Inc. (U.S.), OrthoHelix Surgical Designs, Inc. (U.S.), Mondeal Medical Systems GmbH (Germany)|
|Key Market Opportunities||Mergers and acquisitions are also expected to contribute to the market growth|
|Key Market Drivers||high prevalence of bunion (hallux valgus) in the overall population|