Global Hammertoe Market Research Report: Information by Type (Rigid and Flexible), Treatment & Diagnosis (Treatment and Diagnosis), End User (Hospitals & Clinics and Physiotherapy & Orthopedic Centers) and Region (North America, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027
Market Insights
Hammertoe is a foot problem where the feet are constantly bent. The problem is caused due to an imbalance of the ligaments and muscles that hold the finger tight. The growing prevalence of arthritis and the increasing spending on R&D in the health sector stimulate market growth. Factors such as complications and pain associated with surgical procedures, the risk of infections during surgical treatments, hospitalizations, and lack of awareness should hinder the market growth.
The prevalence of arthritis increased in February 2018. It is estimated that 54.4 million people in the population suffer from arthritis, with 23.4% of women and 18, 1% of men with arthritis, as per the Center for Disease Control and Prevention. By 2040, 78.4 million people over the age of 18 are expected to be prone to arthritis in the United States. As a result, the increasing prevalence of arthritis in the population will stimulate market growth.
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Market Segmentation
The global hammertoe market is broadly bifurcated based on type, treatment & diagnosis, and end-user.
Based on the type, the worldwide hammertoe market is divided into a rigid type and a flexible type. The flexible hammertoe the joints can be straightened and moved. Flexible hammertoe can cause pain and irritation and lead to callus and corns. It is crucial to cure hammertoes, even if the fingers are flexible. According to Andrew Park, senior director of orthopedics at iDATA Research, global medical devices and company said 648,000 hammertoe surgeries were performed in the United States in 2017.
The global hammertoe market is also bifurcated into treatment and diagnosis. The treatment segment is further segmented into implant and surgery. The surgery segment is subdivided into arthroplasty and arthrosis. Segmented diagnosis is segmented into radiography, physical examinations, and others.
The global market for hammertoe is subdivided based on end-users into hospitals and clinics, physiotherapy, and orthopedic centers. The hospital and clinic segment dominates the global hammertoe market for end-users, with hospitals rapidly applying new technologies and procedures to provide appropriate services. Hospitals also spend about 10% of their annual technology budget.
Regional Outlook
The global hammertoe market is constantly growing. In 2016, North America and Europe had more than half of the global market share. More R&D investments and new product development are the most important factors for market growth in these regions. Demand is stronger in high-income countries, but the market is rapidly growing emerging economies such as India and China and. The rapid evolution of technology also has consequences for the health sector. Healthcare professionals and manufacturing companies are making changes to offer the best possible solutions on the market.
In 2016, North America had the largest market share and was the largest revenue generator in the global hammertoe market.
North America is a pioneer in the field of foot and ankle surgery and the largest market in the world in the toe market. Due to the availability of world-class healthcare infrastructure, advanced medical facilities, and the rapid acceptance of new products and treatments, the North American toe market is constantly growing. Many of the major players are operating and driving innovation and new product development. Qualified healthcare professionals, high purchasing power, product availability are some of the critical factors driving market growth.
Due to rising health spending and the rapid development of the health sector, Asia Pacific is anticipated to become the fastest-developing region in the global toe market during the forecast period.
Market Players
The leading industry giants backing the global hammertoe market include Zimmer Biomet Holdings, Arrowhead Medical Device Technologies LLC, Wright Medical Group N.V., Nextremity Solutions, LLC, Extremity Medical LLC, BioPro, Smith & Nephew, and Stryker
Recent Updates
The Licensing Consulting Group introduced a new medical fusion device treating hammertoe. The device is with a state-of-the-art shape memory material, which assists the device offers better stability and compression in contrast to other devices. The Organization expects the new device will back the rising demand for minimally-invasive and low-cost surgeries to correct hammertoe.
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The global hammertoe market was valued at USD 172.51 Mn in 2018 and is expected to catapult to a market valuation of USD 288.61 Mn by the end of 2023.
Market Research Future (MRFR) perceives the global hammertoe market to showcase an impressive CAGR of 10.8% over the forecast period of 2018-2023.
On the contrary, the growth of the market might be hampered by the risks associated with the stay in hospital and the risk of cross-contamination during surgical treatments.
Request Sample Copy:https://www.marketresearchfuture.com/sample_request/4172SegmentationThe global hammertoe market has been segmented based on type, treatment and diagnosis, and end user.
The surgery segment is likely to dominate the market.The diagnosis segment has been further segmented into x-rays, physical examinations, and others.
By end user, the global Hammertoe treatment Market has been segmented into physiotherapy and orthopedic centers, hospitals and clinics, and others.
The report includes basic information along with advanced market statistics of the global Hammertoe market.
Accurate information about the market dynamics along with future growth prospects are analyzed in the report.
Data experts analyze the market information and come up with detailed insights revealing operating margins, competitive landscape, key industry trends and the factors impacting the global Hammertoe market.
Different strategies undertaken by market players in order to get a competitive advantage over their competitors and increase their global market reach are also studied comprehensively in the report.The chapter on market dynamics includes market drivers, restraints, and opportunities which help familiarize with market potential and upcoming opportunities.
The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis.
The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.For More Enquiry and Discount related quarries @ https://www.datalibraryresearch.com/enquiry/hammertoe-market-2164SegmentationThe global Hammertoe market has been segmented on the basis of production, region, market share and so on.
Global Hammertoe Market Research Report: Information by Type (Rigid and Flexible), Treatment & Diagnosis (Treatment and Diagnosis), End User (Hospitals & Clinics and Physiotherapy & Orthopedic Centers) and Region (North America, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027Hammertoe is a feet disorder wherein the feet permanently bends and is caused due to an imbalance in the muscles and the ligaments.
It typically occurs while wearing shoes that are narrow or small-sized.
In some cases, hammertoe occurs since birth in some individuals.According to the recently published report by Market Research Future (MRFR), the global hammertoe market valuation is expected to reach USD 288.61 million by the end of 2023 from its 2018 valuation of USD 172.51 million.
The market is forecasted to exhibit a CAGR of 10.8% during the forecast period of 2018 to 2023.The growth of the market, according to the report published by MRFR, is attributed to the rising prevalence of arthritis.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/4172Market SegmentationThe hammertoe market segmentation is classified into four key dynamics: type, end-user, treatment and diagnosis, and region.By type, the market divides into flexible and rigid segments.
Among these, the surgery segment is expected to lead the standings in terms of market during the assessment period.By end-users, the global market comprises hospitals, clinics, physiotherapy and orthopedic centers, and others.
Herein, the hospital segment is anticipated to dominate the global market in the forthcoming years.By region, the hammertoe market covers North America, Europe, Asia Pacific, and the Middle East and Africa.Regional AnalysisThe regional market is led by North America in terms of market share in the global standings.
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