Hammertoe Correction Systems Market: Business Growth, Development Factors, Applications, and Future Prospects

 Pooja M
  24th-Apr-2019
 38

Hammertoe is a deformity of the second, third, or fourth toe causing the toe to bend at the middle joint rather than pointing forward. Common indications for hammertoe correction are adventitious bursitis on the dorsal surface of the hammertoe, ankylosis of the distal or proximal interphalangeal joint, ulceration of the apices, lateral metatarsophalangeal (MTP) capsular tear, synovitis/capsulitis of the MTP joint, persistent trauma, dislocation of the MTP joint, and co-existence of conditions such as tendon contracture. Fusion of joint is the most common surgical procedure to treat hammertoe.

Increase in the number of hammertoe correction surgeries that use implants and technological advancements in the field of hammertoe repair are anticipated to drive the hammertoe correction systems market. According the data published by Cartiva, Inc., in the U.S., nearly 600,000 surgical implant procedures are performed for the treatment of hammertoes every year. Furthermore, the market is driven by increase in the number of product launches in the market and distribution agreements by market players operating in North America and Europe.

For instance, in February 2017, Centric Medical launched ROGUE+, a hammertoe correction system. In October 2016, Zimmer Biomet Holdings, Inc. entered into an exclusive agreement with Nextremity Solutions, Inc. to distribute the company’s foot and ankle deformity correction products such as Nextra hammertoe correction system, MSP metatarsal shortening system, Re+Line bunion correction system, and ArcusTM staple system. This enabled the company to expand its foot and ankle portfolio across the world. Also, increase in the number of trauma cases leading to fractures and tendon imbalance led by neuromuscular conditions such as cerebral palsy is expected to significantly drive the market during the forecast period.

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The global hammertoe correction systems market can be segmented based on application, end-user, and region. Based on application, the hammertoe correction systems market can be classified into bone fusion, osteotomy fixation, fractures, reconstruction, and others. The bone fusion segment is anticipated to expand at a rapid CAGR during the forecast period, due to rise in usage of hammertoe repair devices for bone fusion. In terms of end-user, the hammertoe correction systems market can be categorized into hospitals, ambulatory surgical centers, and others. The hospitals segment is expected to account for the leading hammertoe correction systems market share in the next few years, owing to increase in the number of orthopedic surgeries and rise in the number of patients with fracture and capsular tear.

The global hammertoe correction systems market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for the maximum market share by the end of the forecast period, due to rise in the number of market players manufacturing products for hammertoe correction and increase in the number of trauma care centers and orthopedic specialty care centers in the region.

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The hammertoe correction systems market in Europe is anticipated to expand at a rapid pace during the forecast period, due to high demand for implantable systems in Germany and recent approvals of new hammertoe correction systems as well as extensive focus on research and development of innovative products in the region. The hammertoe correction systems market in Asia Pacific is expected to expand at a rapid CAGR during the forecast period, due to rise in awareness about sports medicines and increase in the number of players focusing on emerging markets in the region. The hammertoe correction systems market in Middle East & Africa is driven by presence of high-quality health care facilities, rapid adoption of technologically advanced medical implants, and progressive growth of health care industry in developing countries in the region.

Key players operating in the global hammertoe correction systems market are Arthrosurface, Arthrex, Inc., Stryker, Novastep Inc., Zimmer Biomet, CENTRIC MEDICAL, LLC, Wright Medical Group N.V., Osteotec Ltd, VILEX IN TENNESSEE, INC. and Trilliant Surgical.

Domain: Business
Category: Sales & Marketing
Posted By: Pooja M and Contact Pooja M
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