(EMAILWIRE.COM, January 16, 2025 ) The global Bunion Surgery Market, valued at US$437.8 million in 2023, is forecasted to grow at a robust CAGR of 5.7%, reaching US$458.4 million in 2024 and an impressive US$606.1 million by 2029. The main factor driving this market is the rising prevalence of bunions, which has led to an increased demand for surgical treatments. In addition, the aging population, which is globally increasing and is more prone to orthopedic problems, such as hallux valgus (bunion), contributes to this demand. Moreover, the increasing adoption of minimally invasive procedures for small incisions, quicker recovery time, and shorter hospital stays also propel the market growth. The other driver for the market growth would be the increasing number of people suffering from rheumatoid arthritis, which may cause joint deformities in the form of bunions. Thus, the market for bunion surgery is expected to continue its steady growth over the next several years.
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Several key factors are driving growth of the bunion surgery market such as changing lifestyles, including the use of improper footwear, which leads to the development of a bunion and are associated with an increased prevalence of bunions and a rising demand for surgical treatment. An increase in sports injuries, mainly from running, which causes stress on the feet, is another factor contributing to the growing need for bunion surgery. Moreover, the increasing adoption of minimally invasive surgery, along with benefits such as shorter hospital stay, less pain, and quicker recovery time, is further driving growth in the market. Moreover, advancements in surgical systems with improved features and rising prevalence of arthritis are also acting as significant contributors to the growing bunion surgery market.
In 2023, the implants & accessories segment held the largest market share of bunion surgery market by product.
Categorized by product, the bunion surgery market is segmented into correction systems and implants & accessories. The largest share of bunion surgery market was held by the implants & accessories segment in 2023. With an increased prevalence of bunions, more patients are opting for surgical treatment, which, in most cases, comprises the use of implants & accessories like plates, staples, and screws. These devices are importance in stabilizing the bones and ensuring proper alignment during the recovery process. The need for more effective solutions, along with developments in implants & accessories technology, have led to the dominance of this segment in the market.
The traditional surgeries segment dominated the bunion surgery market by type in 2023.
The market is divided into traditional surgeries and minimally invasive surgeries, of which traditional surgery holds the largest share due to its proven efficacy and a long record of successful outcomes, especially in cases of severe bunion deformity or complex deformity that cannot be treated by minimally invasive surgical procedures. In addition, the increasing cases of arthritis also make more considerable bunion deformities, thus also driving the requirement for traditional surgeries.
North America is the largest regional market for bunion surgery market.
The market for bunion surgery has been segmented into six primary geographical regions, that include North America, Europe, Asia Pacific, Latin America, Middle East & Africa and GCC Countries. In 2023, the North America held the dominant share of the bunion surgery market. The bunion surgery market in North America is the biggest regional market, mainly due to the fact that developed healthcare systems prevail in this region, such as in the US and Canada. Apart from this, the aging population, combined with the increasing prevalence of diseases such as arthritis, further adds to the incidence of bunion deformities, hence increasing the demand for surgical treatments. In addition, the region has robust insurance coverage and reimbursement policies that makes surgical treatments more accessible to patients.
The major players operating in this market are Stryker (US), Johnson & Johnson Services, Inc. (US), Smith+Nephew (UK), Paragon 28, Inc (US), Zimmer Biomet (US), CONMED Corporation (US), Enovis Corporation (US), Medartis AG (Switzerland), Treace Medical Concepts, Inc (US), and Arthrex, Inc. (US).
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Recent Developments of Bunion Surgery Market
-In April 2023, Thermo Fisher Scientific Inc. launched Neon NxT Electroporation system used for the enhancement of genome editing. The system is suitable for transfection of challenging cell lines.
-In February 2022, Polyplus acquired e-Zyvec, a provider of DNA design and production services for tailor-made DNA vectors. The acquisition aims to expand the portfolio in DNA vector engineering.
-In February 2022, Polyplus acquired e-Zyvec, a provider of DNA design and production services for tailor-made DNA vectors. The acquisition aims to expand the portfolio in DNA vector engineering.
-In February 2022, Polyplus acquired e-Zyvec, a provider of DNA design and production services for tailor-made DNA vectors. The acquisition aims to expand the portfolio in DNA vector engineering.
