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Bunion Correction Systems Market

Bunion Correction Systems Market Size, Share & Trends Analysis Report By Product (Implants & Accessories And Wearables) And End-Use (Hospitals, Specialty Clinics And Others), By Region, And Segment Forecasts, 2023-2031

Report ID : 1565 | Published : 2023-03-02 | Pages: 180 | Format: PDF/EXCEL

The Global Bunion Correction Systems Market Size is valued at 768.22 million in 2022 and is predicted to reach 1499.08 million by the year 2031 at an 7.89% CAGR during the forecast period for 2023-2031.

With one in three Americans suffering from the ailment, bunions or hallux valgus is a common foot disorder among adults. The condition is most frequently brought on by wearing uncomfortable, narrow shoes for an extended period, foot injuries, and genetic foot issues. The producers of the fixation systems are focusing on the introduction of cutting-edge products that will support the market's revenue growth.

Bunion Correction Systems Market

Additionally, both illnesses' symptoms include swelling and problems with joint movement, which are predicted to aid in the market's expansion. One important reason projected to drive the market demand is the availability of a wide range of surgical and non-surgical procedures to manage the problem, such as PROstep MIS, a non-invasive process. In general, orthopedic implants, bunion pads and tapings, painkillers, surgery, injections, and physical therapy are used to treat bunions.

The condition's increasing prevalence of treatment methods is anticipated to increase. The increasing number of techniques used to treat the illness is anticipated to accelerate market growth rate. Leading hospitals and toe fixation system manufacturers are working together to expand the market for these products.

 

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. 

Competitive Landscape:

Some major Bunion Correction Systems Market Players are:

  • 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 Segmentation:

The bunion correction systems market is segmented on the product and end-use. Based on product, the bunion correction systems market is segmented into implants & accessories and wearables. Based on end-use, the bunion correction systems market is segmented into hospitals, specialty clinics and others.

Based On Product, The Wearable Segment Is A Major Contributor To The Bunion Correction Systems Market

The market's leading segment is wearable. One important reason that is anticipated to boost the market is the increasing occurrence of bunions. Additionally, it is anticipated that the availability of wearables for various demographics, including the adult, pediatric, and geriatric populations, will further propel the segment's growth. In general, the wearables are used to support the joint to stop malpositioning and to control pain. The wearables do not, however, address bunions.

The Hospital Segment Witnessed Growth At A Rapid Rate

Hospitals grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. The increase in patients having corrective procedures at the hospitals greatly impacts the market development. Additionally, the advent of less invasive surgery solutions for the illness is anticipated throughout the projection period to support sector growth further. Surgical methods typically entail removing the swollen tissue to realign and straighten the foot's bones and alleviate pain and swelling.

The North American Bunion Correction Systems Market Holds A Significant Regional Revenue Share

The North American bunion correction systems market is expected to register the highest market share in revenue shortly. The increasing number of people having corrective procedures to treat the issue is one factor that is accounted to have a beneficial impact on the segment's growth. The availability of minimally invasive implants that treat the bunion's underlying cause is anticipated to be a major driver of the segment's growth. In addition, Asia Pacific is projected to grow rapidly in the global bunion correction systems market. Increased activity, including acquisitions and mergers made by important regional industry operators, is the primary driver of market progress.

Global Bunion Correction Systems Market Scope:

Report Attribute

Specifications

Market size value in 2022

USD 768.22 Mn

Revenue forecast in 2031

USD 1499.08 Mn

Growth rate CAGR

CAGR of 7.89% from 2023 to 2031

Quantitative units

Representation of revenue in US$ Million, and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments covered

Product  And End-Use

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

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

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Bunion Correction Systems Market Snapshot

Chapter 4. Global Bunion Correction Systems Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:

5.2.1. Implants & Accessories
5.2.2. Wearables

Chapter 6. Market Segmentation 2: by End-users Estimates & Trend Analysis
6.1. by End-users & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-users:

6.2.1. Hospitals
6.2.2. Ambulatory Centers

Chapter 7. Bunion Correction Systems Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2031
7.1.2. North America Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2019-2031
7.1.3. North America Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.2. Europe

7.2.1. Europe Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2031
7.2.2. Europe Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2019-2031
7.2.3. Europe Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.3. Asia Pacific

7.3.1. Asia Pacific Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2031
7.3.2. Asia Pacific Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2019-2031
7.3.3. Asia Pacific Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.4. Latin America

7.4.1. Latin America Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2031
7.4.2. Latin America Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2019-2031
7.4.3. Latin America Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.5. Middle East & Africa

7.5.1. Middle East & Africa Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2031
7.5.2. Middle East & Africa Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2019-2031
7.5.3. Middle East & Africa Bunion Correction Systems Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles


8.2.1. Stryker Corporation
8.2.2. Arthrex, Inc
8.2.3. Zimmer Biomet Holdings, Inc
8.2.4. Wright Medical Technology, Inc
8.2.5. Extremity Medical, LLC
8.2.6. Acumed, LLC
8.2.7. De Puy Synthes
8.2.8. Biomet, Inc
8.2.9. CrossRoads Extremity Systems
8.2.10. BioPro, Inc
8.2.11. Orthofix Holdings Inc
8.2.12. OrthoHelix Surgical Designs
8.2.13. Other Prominent Players

Segmentation of Bunion Correction Systems Market-

Bunion Correction Systems Market By Product

  • Implants & Accessories
  • Wearables

Bunion Correction Systems Market

Bunion Correction Systems Market By End-use

  • Hospitals
  • Ambulatory Centers
  • Specialty Centers

Bunion Correction Systems Market 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

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Bunion Correction Systems Market?

Bunion Correction Systems Market expected to grow at 7.89% CAGR during the forecast period for 2023-2031

Stryker Corporation; Arthrex, Inc.; Zimmer Biomet Holdings, Inc.; Wright Medical Technology, Inc.; Extremity Medical, LLC.; Acumed, LLC.; De Puy Synth

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