The Bunionectomy Market To Witness An Effervescence Of Growth In The Next Decade
Bunionectomy indicates surgical removal of bunion i.e. enlargement of a bony bump at the base of the big toe. A bunion is comprised of soft tissue and bone and causes inflammation in the foot. This bunion causes difficulty in walking and irritation from shoes that don’t fit properly. Bunionectomy is performed when the anti-inflammatory drugs and orthotics are not successful. Recovery from bunionectomy can be done within six to eight weeks and with the help of surgical boot and the patient can walk normally.
Development of bunion can be hereditary or result of congenital deformity. Bunionectomy market is estimated to grow significantly during the forecast period with an increased investment towards the healthcare sector by several developed and developing countries. According to the National Institutes of Health (NIH), the bunion is likely to appear among 23 out of 100 adults across the globe.
Prevalence of COVID 19 has led to the cancellation of majority non-fatal procedures, hence leading to a delay in global bunionectomy market growth. There has been a significant delay in hospital-patient visits hindering the growth of the global bunionectomy market. Majority of healthcare professionals are dedicated towards coronavirus care treatment leading to a shortage of healthcare professionals in global bunionectomy market and challenging the market growth.
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Some key players contributing global bunionectomy market are:
- Hoag Orthopedic Institute
- Johns Hopkins Medicine
- Winchester Hospital
- Mayo Clinic
- Rubin Institute for Advanced Orthopedics
- Marsh Field Clinic
- Duke Health
- KIMS Hospitals
- UChicago Medicine
- Blake Lands Hospital
- C. K. B. Hospitals
The rise in geriatric population is expected to increase demand for global bunionectomy market during the forecast period. An increasing number of multi-speciality hospitals providing bunionectomy procedure services will propel the growth of the global bunionectomy market. Increasing diagnosis and treatment adoption rate will boost global bunionectomy market growth in the coming decade. Rising healthcare expenditure across developed countries will propel bunionectomy market growth.
Advancement in therapeutic technology and increasing research and development investments in global bunionectomy market are the favourable scenarios. For instance, in July 2020 the University of Foot and Ankle Institute (UFAI) along with Crossroads Extremity Systems developed a new minimally invasive bunionectomy procedure called mini Bunion in the U.S.
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The global bunionectomy market is classified based procedure type, service providers and region.
Based on the procedure type, the global bunionectomy market is segmented into the following:
Based on the service providers, the global bunionectomy market is segmented into the following:
- Ambulatory Surgical Centers
- Speciality Clinics
Bunionectomy procedure can sometimes lead to infection or nerve injury among patients and hence challenging global bunionectomy market growth. Whereas, less healthcare expenditure and poor economic condition in regions like the Middle East & Africa region is also expected to hinder global bunionectomy market growth.
Osteotomy procedure type is expected to hold a major market share in global bunionectomy market during the forecast period. Based on the service providers, hospitals hold the highest market share in global bunionectomy market. Whereas, ambulatory surgical centres are expected to have a significant increase in demand in the coming decade with the increasing number of surgical centres across the world.
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North America is expected to dominate global bunionectomy market with the largest number of service providers. Whereas, Europe will also observe a significant increase in demand in the global bunionectomy market with the advancement of technology and increasing treatment adoption rate. Europe has also observed a significant rise in geriatric population leading to bunionectomy market growth. Latin America will observe a significant rise in growth with the increase in diagnosis rate for global bunionectomy market. Asia-Pacific region will observe an exponential rise in growth rate with the increasing patient population in the global bunionectomy market. The Middle East & Africa will observe less growth rate in global bunionectomy market due to insufficient healthcare facilities and poor healthcare infrastructure.
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