Market Synopsis of Global Hammertoe Market
The hammertoe market is growing with the rapid pace; mainly due to the rising incidence of arthritis. According to a recent study report published by the Market Research Future, The hammertoe market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
Hammertoe is a foot deformity due to imbalance in the muscles, tendons or ligaments which normally hold the toe straight. A hammertoe has an abnormal bend in the middle joint of a toe and usually occur in the second, third and fourth toes. Hammertoe can be caused because of wearing wrong type of shoes such as high heels or shoes that are too short or narrow that force the toe into a bent position.
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Notably, rising incidence of arthritis, and increasing R&D expenditure in the Pharmaceutical Industry are the key factors driving the companion diagnostics Market. In the year of 2016, the R&D expenditure in the Pharmaceutical Industry was EUR 35000 million, suggested by European Federation of Pharmaceutical Industries and Association. Other factor such as, and improvement in regulatory policies, and reimbursement scenario are also fuelling the growth of the market.
Despite these significant driving factors, lack of awareness, and problems associated with surgery such as risk of infection, associated pain and hospital stay are expected to decline the market growth.
The global Hammertoe market has been segmented on the basis of type, diagnosis, treatment and end users.
Based on type, the market has been segmented as flexible hammer toes and rigid hammer toes.
Based on the diagnosis, the market has been segmented into physical exam, X-rays and others.
Based on the treatment, the market has been segmented into drugs, orthotic devices, surgery and others.
Based on the end users, the market has been segmented as hospitals & clinics, physiotherapy and orthopedic centers and others.
The Americas account for a significant market share owing to extensive use of medications and high expenditure on the health care. Additionally, the fastest uptake of new technology in the US drives the global Hammertoe market. Also, concentration of major research companies and cancer research sector in the developed countries of this region is adding fuel to the market growth.
Europe is the second largest market in the world due to high income and healthcare penetration.
Asia Pacific region is expected to grow rapidly and China and India are likely to lead this market due to fast growing industrial sector during the forecast period.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. The African region is expected to witness a moderate growth owing to poor economic and political conditions and poor healthcare development.
Some of key players profiled in the report are BioPro, Instratek, Stryker, Extremity Medical LLC, Arrowhead Medical Device Technologies, LLC, Wright Medical Group N.V., Nextremity Solutions, Inc., Smith & Nephew plc., Biomet, Inc., Acumed and others.
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Detailed Table of Contents:
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure
2. Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3. Market Dynamics
3.4 Macroeconomic Indicators
4. Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power Of Suppliers
4.3 Bargaining Power Of Buyers
4.4 Threat Of New Entrants
4.5 Threat Of Substitutes
4.6 Intensity Of Rivalry
5. Global Hammertoe Market, By Type
5.1 Flexible Hammer Toes
5.2 Rigid Hammer Toes
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