Hallux Rigidus Market is Estimated to Grow at a Reliable CAGR of 7.6% During Forecast 2017-2023

Market Overview:

Market Research Future (MRFR) projects, the global Hallux Rigidus Market is poised to register a CAGR of 7.6% over the forecast period of 2017-2023. Hallux rigidus, one of the most common disabling deformity of the toe is becoming very common these days, and the global hallux rigidus market is growing at an incremental pace.  A traumatic injury or overuse of the foot can cause hallux rigidus. Moreover, overpronation and repetitive weight bearing in a dorsiflexed position can also be a causative factor. In some people, hallux rigidus is caused as their foot type is such that it is susceptible to developing this condition. The global hallux rigidus market is driven by a rise in global geriatric population, raising awareness regarding the disease and increasing diabetic population and increase in the occurrence of road mishaps. Increase in healthcare spending across the globe is also a key factor for market growth. In addition, the governments in various countries have endeavored towards raising awareness about the disease and provide medical aids to patients suffering from the disease. Substantial investment from key players on research & development activities for innovation of new treatment and therapies also augment market growth. Advancements in available treatment methods and growing insurance cover for the treatment of the disease encourage market growth.

Competitive Landscape

·         DePuy Synthes Companies

·         Zimmer Biomet

·         Wright Medical Group N.V.

·         Integra LifeSciences Corporation

·         Stryker

·         Smith & Nephew

·         Advanced Orthopaedic Solutions

·         Acumed

·         Bioretec Ltd

Segmentation

The global hallux rigidus market has been segmented based on treatment, diagnosis, and end users. By treatment, the market has been segmented into Non-Surgical Treatment and Surgical Treatment. By diagnosis, the market has been segmented into X-Ray, CT scan, and MRI. By end users, the market has been segmented into Hospitals & Surgical Centers, Home Cares, and Orthopedic Specialty Clinics.

Regional Analysis

The global hallux Rigidus market spans across the regions of North America, Europe, Asia Pacific, and the Middle East & Africa. The North America market has been further segmented into North America and South America. North America market is the largest market and holds the key for further progress due to the growth in geriatric and diabetic population within the region. Europe is the second largest market for hallux rigidus and is expected to exhibit considerable growth over the forecast period. Availability of skilled medical professionals along with advanced healthcare facilities and R&D grants by the government propels the market growth in the region. Asia Pacific market holds the key for further progress and is expected to emerge as the fastest growing market for hallux rigidus owing to raising awareness about the disease, increased availability of advanced treatment methods, and prevalence of chronic diseases in the region. The market in the Middle East & Africa is expected to exhibit relatively slow growth over the forecast period. Lack of awareness regarding the disease, limited availability of treatment facilities is hindering the growth of the market in the region. The United Arab Emirates is the largest market in the Middle East due to development in the healthcare industry and rise in a number of specialty care centers.

Industry Updates/ Trends

'Synthetic Cartilage' is the latest development in the treatment of hallux rigidus. It is the latest device which has been approved by the FDA for the treatment of hallux rigidus and is a polymer device which is designed to function as articular cartilage. The synthetic cartilage arthritis procedure involves removing all arthritic and non-viable bone around the joint and then implanting the synthetic cartilage