Global Hallux Valgus Treatment Market, By Type (Congenital Hallux Valgus, Juvenile or Adolescent Hallux Valgus, Tailor's Bunion), Diagnoses (X-Rays, Medical History, Physical Examination, Radiography, Others), Treatment (Medications, Self-Care, Devices, Surgery, Medical Procedures), Dosage (Injection, Tablets, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Clinic, Hospital, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) - Industry Trends and Forecast to 2029
Market Analysis and Size
In recent years, the market for hallux valgus treatment is estimated to grow rapidly. Due to changing lifestyle and rising number of working women population. This causes a high risk of hallux valgus and accelerate the demand for the hallux valgus treatment market during the forecast period. Hallux valgus are also linked to arthritis, which causes the cartilage in the joint to deteriorate. Hallux valgus treatment market is common in the general population, with 23 percent of adults aged 18 to 65 years and 35.7 percent of those over 65 years suffering from it. Typically, females have a higher prevalence than males.
- The most common foot abnormality is hallux valgus. It's a degenerative foot deformity that affects the first metatarsophalangeal (MTP) joint, resulting in substantial functional handicap, foot pain, and a lower standard of living. The use of bunion shields or pads, which help relieve pressure on the bunion, is part of the treatment. Depending on the structure of the foot and the severity of the bunion, custom insole orthotics can be produced. Hallux valgus progression can be slowed using these insoles. Bracing is a type of post-operative rehabilitation therapy that involves the use of braces.
- Data Bridge Market Research analyses that the hallux valgus treatment market will grow at a CAGR of 7.00% during the forecast period of 2022 to 2029.
Hallux Valgus Treatment Market Dynamics
Drivers
-
High incidence rate of bone disorder
The rise in incidence rate of bone diseases will act as a major driver that will result in the expansion of the market's growth rate. Because women typically wear pointed high heels, hallux valgus was discovered to be more common in females than in males. The intrinsic and extrinsic soft tissue of the foot are broken or unbalanced as a result, increasing the possibility of bone disease and driving the hallux valgus treatment market forward.
-
Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of hallux valgus treatment market is the rising healthcare expenditure which helps in improving its infrastructure.
-
Rising prevalence of inflammatory diseases
The rise in prevalence rate of inflammatory diseases such as rheumatoid arthritis will increase the risk of hallux valgus deformity and, hence, propels the treatment market's growth rate.
Furthermore, rising initiatives by public and private organizations to spread awareness and growing demand for effective therapies are the factors that will expand the hallux valgus treatment market. Other factors such as continuous changing lifestyle coupled with increasing number of working women population will positively impact the hallux valgus treatment market's growth rate. Additionally, high disposable income and a rising geriatric population will result in the expansion of the hallux valgus treatment market.
Opportunities
-
Rise in the investments and research funding for hallux valgus treatment will flourish the growth rate
Moreover, the rise in level of investments and funds for research and development activities will boost new opportunities for the market's growth rate.
Also, a surging number of strategic partnerships with various public and private organizations to develop treatment solutions for hallux valgus treatment and availability of cost-effective drugs will provide beneficial opportunities for the hallux valgus treatment market in the forecast period of 2022-2029.
Restraints/Challenges
However, high cost associated with the surgical treatment and lack of infrastructure in low-income countries will impede the growth rate of the hallux valgus treatment market. Additionally, the dearth of novel treatment and strict FDA regulatory guidelines linked with the approval of medical devices will hinder the hallux valgus treatment market growth. The emergence of unfavourable conditions due to COVID-19 outbreak and less awareness in patients will further challenge the market in the forecast period mentioned above.
This hallux valgus treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hallux valgus treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Hallux valgus (H.V.) deformity is a very common ailment. It affects about 23% of adults between the ages of 18 and 65, and up to 36% of adults over 65. When it comes to adult females, H.V. malformation can be as high as 30%. Compared to the barefoot population, people who wear shoes or heels have a higher prevalence. When women and men in barefoot populations are compared, women are twice as likely to suffer hallux valgus deformity.
Hallux valgus treatment market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Hallux Valgus Treatment Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. Due to the financial crisis and the delay in specialty healthcare delivery while prioritizing COVID-19-related treatments, healthcare systems worldwide have been severely disrupted in the aftermath of the coronavirus pandemic. Patients were unable to see their controls for various reasons, including difficulty accessing a doctor, fear of infection transmission, inability to continue therapies and essential procedures due to pandemic restrictions. Such considerations may have a negative impact on the market of hallux valgus treatment in recent months.
Recent Development
- In May 2021, Heron Therapeutics, Inc. announced the U.S. Food and Drug Administration (FDA) approval for Zynrelef. It is an extended-release dual-acting local anaesthetic of bupivacaine and meloxicam for pain management.
Global Hallux Valgus Treatment Market Scope
The hallux valgus treatment market is segmented on the basis of type, treatment, diagnosis, dosage, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Congenital Hallux Valgus
- Juvenile or Adolescent Hallux Valgus
- Tailor's Bunion
On the basis of type, the hallux valgus treatment market is segmented into congenital hallux valgus, juvenile or adolescent hallux valgus, and tailor's bunion.
Treatment
- Medications
- Self-Care
- Devices
- Surgery
- Medical Procedures
On the basis of treatment, the hallux valgus treatment market is segmented into medications, self-care, devices, surgery and medical procedures. The medication is sub-segmented into analgesic and non-steroidal anti-inflammatory drug. The self-care is segmented into wide shoes, cold compress, and bunion pads. The device is segmented into braces. The medical procedure is divided into callus shaving and the surgery is classified into bone surgery. Furthermore, the bone surgery is classified into different types including distal chevron osteotomy, scarf or ludloff osteotomy, crescent osteotomy, and lapidus procedure.
Diagnosis
- X-Rays
- Medical History
- Physical Examination
- Radiography
- Others
On the basis of diagnosis, the hallux valgus treatment market is segmented into medical history, X-rays, radiography, physical examination and others.
Dosage
- Injection
- Tablets
- Others
On the basis of dosage, the hallux valgus treatment market is segmented into injection, tablets, ointments and others.
Route of Administration
- Oral
- Parenteral
- Others
On the basis of route of administration, the hallux valgus treatment market is segmented into oral, parenteral, topical and others.
End Use
- Clinic
- Hospital
- Others
On the basis of end-users, the hallux valgus treatment market is segmented into clinic, hospital and others.
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
The hallux valgus treatment market is also segmented on the basis of distribution channel into hospital pharmacy, retail pharmacy and online pharmacy.
Hallux Valgus Treatment Market Regional Analysis/Insights
The hallux valgus treatment market is analysed and market size insights and trends are provided by country, type, treatment, diagnosis, dosage, route of administration, end-users and distribution channel as referenced above.
The countries covered in the hallux valgus treatment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
America dominates the hallux valgus treatment market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players, trendy lifestyle attained by women's and rise in merger and acquisition in this region.
Europe on the other hand is projected to exhibit the highest growth rate during the forecast period due to the rising healthcare expenditure and technological advancement in this region.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Hallux Valgus Treatment Market Share Analysis
The hallux valgus treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hallux valgus treatment market.
Some of the major players operating in the hallux valgus treatment market are Smith+Nephew, Arthrex, Inc., Wright Medical Group N.V., Biocon, Custopharm, Inc., Novartis AG, Sanofi, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Fresenius Kabi AG, Stryker, Zimmer Biomet, Integra LifeSciences, Össur, Acumed LLC, Extremity Medical, Johnson & Johnson Private Limited, BioPro, Inc., Orthofix Medical Inc., MONDEAL Medical Systems GmbH, Pfizer Inc., GlaxoSmithKline plc, Bayer AG, Reckitt Benckiser Group PLC, and Assertio Holdings, Inc., among others.
SKU-
