As per MRFR Analysis, the Hammertoe Market was valued at USD 0.7 Billion in 2023 and is projected to grow to USD 2.9 Billion by 2032, with a CAGR of 12.32% from 2024 to 2032. Hammertoe is a foot condition characterized by a permanent bend in the toe, often caused by improper footwear or underlying health issues such as arthritis. The market is driven by the increasing prevalence of arthritis and rising R&D expenditure in healthcare. However, challenges such as surgical complications and lack of awareness may hinder growth. The market is segmented by type (rigid and flexible), treatment & diagnosis (surgery, implant, and others), and end users (hospitals & clinics, physiotherapy & orthopedic centers). North America currently holds the largest market share, driven by advanced healthcare infrastructure and high spending on technology.
The Hammertoe Market is witnessing significant growth driven by various factors.
Stryker, Smith & Nephew, Zimmer Biomet Holdings, Extremity Medical LLC, Nextremity Solutions, Inc., Arrowhead Medical Device Technologies LLC, Wright Medical Group N.V., BioPro.
Arthritis is a common joint-related problem, which may occur due to osteoporosis and age. Arthritis is one of the reasons causing hammertoe at any age. According to the Centers for Disease Control and Prevention, in February 2018, it was reported that the prevalence of arthritis is increasing with age. It has also been estimated that 54.4 million of the population has been diagnosed with arthritis, in which 23.4 % of women and 18.1% of men had arthritis. It was predicted that 78.4 million people above 18 years are likely to be diagnosed with arthritis by 2040 in the US. Therefore, the increasing prevalence of arthritis among the population will boost the hammertoe correction systems market growth.
Based on type, the hammertoe market is divided into rigid type and flexible type. In the case of flexible hammertoe, the joints in the toe can be moved and straightened. Flexible hammertoes can cause pain and irritation and can lead to the development of corns and calluses. It is crucial to treat hammertoes, even if the toe is flexible. According to Andrew Park, Senior Manager at Orthopedics at iDATA Research, a global medical device and pharmaceutical market intelligence firm stated that in 2017, 648,000 hammertoe surgeries were held in the US. The hammertoe market, based on treatment & diagnosis, has been divided into treatment and diagnosis. The treatment segment has been further segmented into surgery, implant, and others. The surgery segment has been further sub-segmented into arthroplasty and arthrodesis. The diagnosis segmented is sub-segmented into physical examination, x-rays, and others. The hammertoe market, based on end user, is segmented into hospitals & clinics and physiotherapy & orthopedic centers. The hospitals & clinics segment is dominating the hammertoe industry, by end user as hospitals are rapidly adopting new technologies and procedures to provide adequate services. Hospitals are also spending about 10% of their annual budget on technology.
The hammertoe correction systems market is growing steadily. In 2016, North America and Europe held more than half of the share of the hammertoe market. Increasing investments in R&D and new product development are the key drivers for the market growth in these regions. The demand is higher in high-income countries, but the market is rapidly growing in developing and emerging economies, such as China and India. Rapidly changing technology is also affecting the healthcare sector. Health professionals and manufacturing companies are adopting changes to provide the best possible solutions to the market. Based on region, the hammertoe market is segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa. In 2016, North America held the largest market share and was the highest revenue generator in the hammertoe correction systems market. North America is a pioneer in the foot and ankle surgery and the largest market in the hammertoe market. Due to the availability of top-class healthcare infrastructure, advanced medical facilities, and the rapid adoption of new products and tetanus treatments, the North American hammertoe market is growing continuously. Many top players are operating from this region, which is leading to innovation and new product developments. Some other factors, such as the availability of skilled health professionals, availability of products, high purchasing power, etc. also boost the growth of the market. According to the 2012 National Foot Health Assessment conducted by the NPD Group (formerly known as National Purchase Diary, Inc.) for the Institute for Preventive Foot Health, 3%of the US adults aged 21 and older (about 7 million people) have experienced hammertoe or claw toe. Due to the increasing healthcare expenditure and rapidly developing healthcare sector, Asia-Pacific is expected to be the fastest-growing region in the hammertoe market during the forecast period.
The prominent players in the market are:
The players operating in the hammertoe are focusing on product launches and expanding their global footprint by entering untapped markets. Market Segmentation Hammertoe Market, by Type
Hammertoe Market, by Treatment & Diagnosis
Hammertoe Market, by End User
Hammertoe Market, by Region
Available Additional Customizations Company Profiles of Key Regional Players
Intended Audience
| Attribute/Metric | Details |
| Market Size 2023 | 0.7 (USD Billion) |
| Market Size 2024 | 1.2 (USD Billion) |
| Market Size 2032 | 2.9 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 12.32 % (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Stryker, Smith & Nephew, Zimmer Biomet Holdings, Extremity Medical LLC, Nextremity Solutions, Inc., Arrowhead Medical Device Technologies LLC, Wright Medical Group N.V., Nextremity Solutions, Inc., and BioPro. |
| Key Market Opportunities | Increasing healthcare budgets and insurance coverage for orthopedic surgeries in various countries can make advanced treatments for hammertoe more accessible to a broader population. |
| Key Market Drivers | Rising incidence of foot deformities, such as hammertoes, due to aging populations and lifestyle factors is driving the demand for treatment solutions. |
Hammertoe Market Highlights:
Frequently Asked Questions (FAQ) :
Hammertoe market projected to grow at approximately 12.32% CAGR during the assessment period (2024-2032).
The valuation of the global hammertoe market is estimated to increase to USD 2.9 Billion by the end of 2032.
Growing R&D expenditure in the healthcare and government support, are major tailwinds pushing the growth of the global hammertoe market.
North America holds the largest share in the global hammertoe market, followed by Europe and the Asia Pacific, respectively.
Instratek (U.S.), Acumed (U.S.), BioPro (U.S.), Biomet, Inc. (U.S.), Stryker Corporation (U.S.), Nextremity Solutions, Inc. (U.S.), Arrowhead Medical Device Technologies LLC (U.S.), Smith & Nephew plc (U.S.), Extremity Medical LLC (U.S.), and Wright Medical Group N.V. (U.S.), are some of the top players operating in the global hammertoe market.
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Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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