Bunions are frequent among those who work in jobs that require much standing and walking, such as teaching and nursing. Furthermore, vocations such as ballet dancers are prone to significant cyclic stresses. As per MRFR, the market is estimated to gain a CAGR of approximately 6.80% in the forecast period.
The altering demographics with an augmented risk of health problems, and a developing senior population, are the key factors driving the worldwide bunion treatment market over the forecast period.
Segmental Analysis
The bunion treatment market is segmented on the basis of diagnosis, treatment, and end-users. The bunion treatment market is divided into four categories based on treatment: self-care, gadgets, medical treatments, drugs, and surgery. Based on the diagnosis, the bunion treatment market can be segmented into medical history, physical examination, X-rays, and radiography. The bunion treatment market is divided into podiatrists, research institutions, healthcare service providers, and academic institutes based on the end-user.
Detailed Regional Analysis
Due to the general progressive lifestyle in the United States, the Americas are expected to hold the highest share of the bunion treatment market. Due to significant technical improvements, Europe is predicted to take second place in the bunion treatment market in the next five years. Due to a growing older population and a growing number of podiatrists, the Asia Pacific bunion treatment market is anticipated to grow at the quickest rate over the projected period. Furthermore, extended healthcare spending and evolving healthcare infrastructure are expected to propel market expansion in this region all across the forecast period. The Middle East, Latin America, and Africa are also anticipated to grow dramatically during the next five years.
Competitive Analysis
The continuation of occasional lockdowns in numerous regions may cause the market expansion to be hampered if resources such as labor and supply chains are severely impacted. The global market is expected to diversify in operational techniques as innovative models for operation and delivery are implemented. Government assistance is expected to support worldwide market development in the next years. Due to the return of COVID cases in many locations, the market may exhibit constrained growth. It is projected that the emphasis on accumulating reserves of resources to deal with unexpected crises would impact future market trends. Market developments and research are expected to generate attractive growth opportunities in the next years. The reliance on online commerce for sales is expected to increase significantly during the forecast period, prompting market stakeholders to invest more in its growth.
The distinguished contenders in the bunion treatment market Players are Arthrex, Inc. (U.S.), Smith & Nephew plc (U.K.), Össur (Iceland), Acumed, LLC (U.S.), Extremity Medical, LLC (U.S.), De Puy Synthes (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Wright Medical Technology, Inc. (U.S.), Biomet, Inc. (U.S.), Integra LifeSciences Holdings Corporation (U.S.), BioPro, Inc. (U.S.), Orthofix Holdings Inc. (U.S.), Tornier N.V. (Netherlands), OrthoHelix Surgical Designs, Inc. (U.S.), Mondeal Medical Systems GmbH (Germany), and Stryker Corporation (U.S.).
Industry Updates:
Nov 2021 Treace Medical Concepts, Inc., a commercial-stage orthopedic medical device company pioneering a paradigm shift in the surgical treatment of hallux valgus with its Lapiplasty® 3D Bunion Correction procedure, announced that the US Patent and Trademark Office granted and issued a Notice of Allowance for the Company's pending titled "Bone Positioning and Preparing Guide Systems and Methods." The issued invention relates to techniques for moving the first metatarsal with a positioning instrument, including those used in bunion repair surgery. The granted patent application is about procedures for repairing a bunion deformity that involves using a bone preparation guide and a positioning tool.
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