According to FutureWise analysis the market for hammertoe in 2023 is US$ 12.71 billion, and is expected to reach US$ 30.41 billion by 2031 at a CAGR of 11.52%.
Hammertoe refers to a deformity of the second, third, or fourth toe that bends at the middle joint. Toe bending is caused by an imbalance in the muscles and ligaments that hold the toe straight. Alternatively, hammertoe can be caused by wearing shoes that are too small or too narrow. A hammertoe may be characterized by ulcerated apices, synovitis/capsulitis of the MTP joint, dislocation of the MTP joint, or persistent trauma. Flexible hammertoe and rigid hammertoe are both forms of hammertoe. Each of these can be classified into Physical exam, X-ray, and Others based on the diagnosis. A wide variety of treatments are available for hammertoe, including medications, orthotics, surgery, and others. The end-users in this market include hospitals, clinics, and physical therapy and orthopedic centers. Among the common indications for hammertoe correction are adventitious bursitis of the hammertoe, ankylosis of the distal or proximal interphalangeal joints, ulceration of the apices, lateral metatarsophalangeal (MTP) capsular tears, synovitis/capsulitis of the MTP joint, persistent trauma, dislocation of the MTP joint, and co-existence of conditions such as tendon contracture. The most common surgical treatment for hammertoe is fusion of the joint.
Hammertoe market growth and demand will be intensified by the rapid increase in the prevalence of arthritis. Growth of the global hammertoe correction market is also expected to be supported by the increasing number of surgeries to correct hammertoes and rapid technological advancements in the repair of hammertoes. Market growth is also predicted to be boosted by the rise in product innovation and the aging population. Further, the hammertoe market is also expected to grow due to the increase in R D expenditure in the pharmaceutical industry and the availability of skilled health professionals. In the forecast period, rapid technological advancements, rising R D expenditures, and improvements in regulatory policies are expected to offer significant growth opportunities for the hammertoe market. A number of complications and pain associated with surgeries and a high risk of infection during surgical treatments and hospital stays are expected to limit the growth of the hammertoe market, while a lack of awareness may hamper it as well.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Hammertoe Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Hammertoe Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.