In recent years, the market for Hallux Valgus Treatment is estimated to grow rapidly. Due to changing lifestyle and rising number of working women populations. 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.
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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 populations 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.
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 analyse meagre 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
Treatment
- Medications
- Self-Care
- Devices
- Surgery
- Medical Procedures
Diagnosis
- X-Rays
- Medical History
- Physical Examination
- Radiography
- Others
Dosage
- Injection
- Tablets
- Others
Route of Administration
- Oral
- Parenteral
- Others
End Use
- Clinic
- Hospital
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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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.
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