Press release
Bunion Correction Systems Market Exclusive Report with Detailed Study Analysis
The Global Bunion Correction Systems Market Size is valued at USD 817.28 million in 2023 and is predicted to reach USD 1,537.38 million by the year 2031 at an 8.35% CAGR during the forecast period for 2024-2031.
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Latest Drivers Restraint and Opportunities Market Snapshot:
The following are the primary obstacles to the bunion correction systems market's expansion:
• Huge cost of bunion correction systems
• Insufficient understanding of these processes
• Limited availability of experts in correcting bunions
Key factors influencing the global bunion correction systems market are:
• Greater number of adults suffering from bunions
• Increased labor force participation
• Growing interest in minimally invasive surgical procedures
Future expansion opportunities for the global bunion correction systems market include:
• Higher expenditure on healthcare
• Surge of creative and revolutionary system developments
• Collaborations between prominent individuals in the industry
Market Analysis:
The market is experiencing an exponential increase due to the growing number of government initiatives designed to enhance healthcare infrastructure. Significant growth in the global bunion correction systems market is being driven by the development of more innovative techniques and systems as a result of increasing capital investments. Furthermore, increasing FDA-approved products is expected to fuel market expansion. Additionally, it is anticipated that the market's expansion will be facilitated by the growing number of individuals affected by osteoarthritis in the years ahead.
List of Prominent Players in the Bunion Correction Systems Market:
• Stryker Corporation CrossRoads
• Extremity Systems
• BioPro, Inc
• Orthofix Holdings Inc
• OrthoHelix Surgical Designs
• Arthrex, Inc
• Zimmer Biomet Holdings, Inc
• Wright Medical Technology, Inc
• Extremity Medical, LLC
• Acumed, LLC
• De PuySynthes
• Biomet, Inc
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Recent Developments:
• In November 2023, Extremity Medical collaborated with Dr. Joel Vernois to create novel minimally invasive surgery (MIS) techniques and specialized apparatus for foot and ankle surgery. Dr. Vernois will also assist Extremity Medical in developing medical education programs that focus on these MIS methodologies.
• In September 2023, Stryker has introduced SmartMedic, India's first platform for upgrading intensive care facilities, to enhance patient care and caregiver safety.
• In December 2023, Acumed is delighted to announce the acquisition of ExsoMed, which provides state-of-the-art hand surgery solutions. Colson Medical Berkshire Hathaway established ExsoMed.
Bunion Correction Systems Market Dynamics:
Market Drivers: Rising Incidence of Bunions
One of the primary factors driving the global market is the expanding function of aerospace. The bunions have become increasingly prevalent and are responsible for expanding the market. An increasing demand for remedies and products can address these issues. This is due to factors such as personal lifestyle preferences and an ageing population. The market is experiencing growth due to the increasing awareness of bunion correction procedures and the significance of early intervention. The market is anticipated to expand considerably due to the accessibility of various surgical and non-surgical procedures for condition management, such as the non-invasive PROstep MIS treatment. In addition, the global increase in healthcare expenditure is a significant factor that is propelling the bunion correction systems market. This increase will result in more individuals having access to bunion repair operations and products, facilitating market expansion.
Challenges: High Expense and Lack of Knowledge in the Market for Bunion Correction Systems
Numerous constraints impede the anticipated expansion of the global market. The high cost of bunion repair surgeries and procedures is a significant impediment for specific individuals and a significant factor in the global market's delayed expansion. Additionally, patients' ignorance regarding the illness is a cause for concern. The demand for correction systems is adversely affected, which also impedes market growth, as many individuals may not be aware of the existence of a bunion or may delay treatment until it becomes more severe.
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North America Is Expected To Grow With The Highest CAGR During The Forecast Period
The North American bunion correction systems Market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is due to factors such as a rise in older people and increased healthcare expenditure due to rising disposable income in key developing nations, propelling market growth. Additionally, the key factor propelling the market forward is the uptick in activity, which includes mergers and acquisitions carried out by major regional operators in the industry. Furthermore, the regional market is anticipated to experience expansion due to factors such as increased healthcare tourism and a growing incidence of bunions among adults. Several factors include the aging population, shifting lifestyles, and improved labor force participation, particularly in developing countries.
Segmentation of Bunion Correction Systems Market-
By End-Users-
• Hospitals
• Ambulatory Centers
By Product Type-
• Implants & Accessories
• Wearables
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
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