Bunion Correction Systems Market Size, Share, Growth, Trends | Report 2022-2030
The global bunion correction systems market was estimated at USD 730.51 million in 2021 and it is expected to surpass around USD 1.34 billion by 2030, poised to grow at a CAGR of 6.97% from 2022 to 2030.
Report Highlights
The rising prevalence of bunions combined with an increasing number of procedures to treat the condition globally are expected to propel the market growth. Bunion correction systems are used to treat bunion, a foot deformity that occurs at the metatarsophalangeal joint. The increasing prevalence of the condition among the adult population is a key factor that is projected to positively impact market growth.
For instance, according to an article by NCBI, dated December 2021, the prevalence of bunion among the population was 24.9%. Moreover, increasing number of people undergoing surgeries to treat the condition is expected to increase demand for correction systems during the forecast period. For instance, according to an article by Private Clinic, about 1,200 bunion correction procedures are performed every year in the U.K. and Italy. The article also states that the procedures have a success rate of about 98%, which is expected to increase the demand for correction systems.
Moreover, changing lifestyle and an increased working population in developed and developing countries is expected to further contribute to market growth. The use of improper-fitting shoes which causes deformity in the foot anatomy and the growing prevalence of arthritis among the global population are other key factors that are anticipated to boost the market growth. According to an article by Mayoclinic, bunions can be associated with some types of arthritis especially inflammatory arthritis such as rheumatoid arthritis. Rheumatoid arthritis causes inflammation in the joints which increases the risk of developing a bunion.
Availability of minimally invasive surgery options for correcting the condition is expected to boost the growth of the market. For instance, Re+Line a Bunion Correction Systems by Zimmer Biomet is a minimally invasive compression plate used in bunion correction surgery. The system is designed for easy insertion and medial placement using Guide Technology. Moreover, increasing product approvals by Food and Drug Administration is expected to contribute to the growth of the market. For instance, In June 2019, Treace Medical Concepts Inc. a medical device company received approval for Lapiplasty 3D Bunion Correction Systems designed for pediatric patients above the age of 12. The system is designed to correct all three dimensions of bunion deformity which act as a root cause for the condition.
Rising number of initiatives such as mergers and acquisitions undertaken by key players in the market is expected to boost market growth. For instance, In February 2022, CrossRoads Extremity Systems a foot and ankle company based in Tennessee was acquired by DePuy Synthes. The company has a vast portfolio of implants and instrumentations that is cleared for the lower body. The acquisition will add products such as dynaBunion 4D, miniBunion 3D, and DynaForce Staple Compression Plates under its portfolio.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 730.51 million |
| Revenue Forecast by 2030 | USD 1.34 billion |
| Growth rate from 2022 to 2030 | CAGR of 6.97% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, end-use, region |
| Companies Covered |
Stryker Corporation; Arthrex, Inc.; Zimmer Biomet Holdings, Inc.; Wright Medical Technology, Inc.; Extremity Medical, LLC.; Acumed, LLC.; De Puy Synthes, Biomet, Inc.; CrossRoads Extremity Systems; BioPro, Inc.; Orthofix Holdings Inc.; OrthoHelix Surgical Designs |
Product Insights
By product, the wearables segment held the largest revenue share of 51.93% in 2022. The rising prevalence of bunion is a key factor that is expected to drive the market. According to data published by Disabled Population, about 36% of the study population suffered from the condition. Moreover, the availability of wearables for different groups such as the adult, pediatric, and geriatric populations is expected to further drive the segment growth. The wearables are used generally to support the joint in order to prevent malpositioning as well as to manage the pain. However, the wearables do not treat bunion.
The implants and accessories segment is anticipated to witness the fastest growth of 7.35% during the forecast period. Factors such as the rising number of people undergoing corrective surgeries to treat the condition is expected to positively impact the segment growth. The availability of minimally invasive implants, which help to treat the source of the bunion is expected to be a key factor responsible for the growth of the segment. For instance, MINIBunion, a non-invasive implant by CrossRoads Extremity Systems spares the joint capsule. The implant allows to repair bunion through a 15mm incision on the side of the foot and reduces the recovery time after the procedure.
End-use Insights
By end use, the hospitals segment held the largest revenue share of 76.31% in 2022. The rising number of patients undergoing correction surgeries at the hospitals contributed positively to the market growth. Moreover, the availability of minimally invasive surgery options for the condition is expected to further boost segment growth during the forecast period. The surgical procedures generally involve removing the swollen tissue, and realigning and straightening the bones in the foot, which helps to reduce the pain and swelling in the foot.
The segment is expected to grow at a lucrative rate of 7.26% during the forecast period. Factors such as the availability of various surgery options such as Exostectomy, Osteotomy and Arthrodesis for bunion correction is expected to boost the number of patients undergoing treatment for the condition at the hospitals. Moreover, the availability of skilled physicians at the hospitals is expected to boost segment growth.
Regional Insights
North America dominated the market in 2022 with a share of 52.72%. The higher prevalence of the condition in the region combined with the availability of treatment facilities for correction procedures are some of the key factors that contributed to the growth of the market in the region. For instance, according to an article by the Ontario Society of Chiropodists, about 6% of the Canadian population suffers from bunions, foot injuries, and fallen arches or flat feet every year. Moreover, the presence of key players such as Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc. and DuPey Synthes in the region further contributed to the growth of the market.
Asia Pacific is projected to witness a growth of 10.17% during the forecast period owing to factors such as the higher prevalence of bunions among the adult population. For instance, according to an article by Australian Journal of General Practice, bunion is a common foot deformity in women in the country. Of the total population visiting general practitioners, 82.3% of the patients are women. The article also states that the overall prevalence of bunion in adult population in Australia is about 23%. Further growing geriatric population in countries such as China, Japan, and India and rising healthcare tourism is expected to positively contribute to the growth of the regional market.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Bunion Correction Systems Market
5.1. COVID-19 Landscape: Bunion Correction Systems Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Bunion Correction Systems Market, By Product
8.1. Bunion Correction Systems Market, by Product, 2022-2030
8.1.1. Implants & Accessories
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Wearables
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Bunion Correction Systems Market, By End-use
9.1. Bunion Correction Systems Market, by End-use, 2022-2030
9.1.1. Hospitals
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Ambulatory Centers
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Specialty Centers
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Bunion Correction Systems Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by End-use (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by End-use (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by End-use (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by End-use (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by End-use (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by End-use (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by End-use (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by End-use (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by End-use (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by End-use (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by End-use (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by End-use (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by End-use (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by End-use (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by End-use (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by End-use (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by End-use (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by End-use (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by End-use (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by End-use (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 11. Company Profiles
11.1. Stryker Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Arthrex, Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Zimmer Biomet Holdings, Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Wright Medical Technology, Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Extremity Medical, LLC.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Acumed, LLC.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. De Puy Synthes
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Biomet, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. CrossRoads Extremity Systems
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. BioPro, Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers