Bunion correction systems Market Top Players - Stryker Corporation; Arthrex, Inc.; Zimmer Biomet Holdings, Inc.; Wright Medical Technology.

"Bunion correction systems Market" in terms of revenue was estimated to be worth $817.28 Mn in 2023 and is poised to reach $1,537.38 Mn by 2031, growing at a CAGR of 8.35% from 2024 to 2031, according to a new report by InsightAce Analytic.

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Latest Drivers Restraint and Opportunities Market Snapshot:
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

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

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 significant growth, driven by a surge in government initiatives focused on enhancing healthcare infrastructure. Increased investments are fostering the development of innovative techniques and systems, contributing to substantial growth in the global bunion correction systems market. Additionally, the market is expected to expand further due to the growing availability of FDA-approved products. Furthermore, the rising prevalence of osteoarthritis is anticipated to positively impact market growth in the coming years.

List of Prominent Players in the Bunion Correction Systems Market:
• Stryker Corporation
• Arthrex, Inc
• Zimmer Biomet Holdings, Inc
• Wright Medical Technology, Inc
• Extremity Medical, LLC
• Acumed, LLC
• De PuySynthes
• Biomet, Inc
• CrossRoads Extremity Systems
• BioPro, Inc
• Orthofix Holdings Inc
• OrthoHelix Surgical Designs

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Recent Developments:
• In November 2023, Extremity Medical partnered with Dr. Joel Vernois to develop new minimally invasive surgery (MIS) techniques and specialized apparatus for foot and ankle surgery. Dr. Vernois will also lend a hand to Extremity Medical in creating medical education programs that center on these MIS methods.
• In September 2023, Stryker introduced SmartMedic, India's first platform for upgrading intensive care units, to improve patient care and caregiver safety.
• In December 2023, Acumed is pleased to announce the acquisition of ExsoMed, a firm offering cutting-edge hand surgery solutions. ExsoMed was founded by Colson Medical Berkshire Hathaway.

Bunion Correction Systems Market Dynamics:
Market Drivers: Increasing Prevalence of Bunions
The growing prevalence of bunions is a significant driver of the global bunion correction systems market. The rising incidence of this condition, driven by factors such as an aging population and changing lifestyle preferences, has increased the demand for effective treatment options. Awareness of the benefits of early intervention and the availability of both surgical and non-surgical treatment methods, including non-invasive solutions like the PROstep MIS treatment, are expected to contribute to substantial market growth. Furthermore, the global increase in healthcare spending is expanding access to bunion repair procedures and related products, further supporting market expansion.

Challenges: High Costs and Lack of Awareness in Bunion Correction Systems
The global market for bunion correction systems faces several challenges that may impede its growth. A primary barrier is the high cost associated with bunion repair surgeries and treatments, which can be prohibitive for some patients. Additionally, a lack of awareness about bunions and their treatment options remains a concern, as many individuals may either be unaware of the condition or delay seeking treatment until the condition worsens. This knowledge gap affects demand for correction systems, ultimately hindering market growth.

North America Expected to Register the Highest CAGR During the Forecast Period
The North American bunion correction systems market is poised to capture a significant share of the revenue and grow at a rapid pace over the forecast period. This growth can be attributed to factors such as an aging population, increased healthcare expenditure, and rising disposable incomes in key developing regions. The market is further supported by mergers and acquisitions among major regional players, driving innovation and expanding market presence. Additionally, the region is expected to experience growth due to increasing healthcare tourism and the rising prevalence of bunions among adults, fueled by factors such as an aging population, lifestyle changes, and higher labor force participation in developing countries.

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Segmentation of Bunion Correction Systems Market-
By Product Type-
• Implants & Accessories
• Wearables
By End-Users-
• Hospitals
• Ambulatory Centers
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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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.