Hammertoe is a bending deformity of one or both joints of the second, third, fourth or fifth toes. The problem happens due to an imbalance in ligaments & muscles that hold the toe straight. It bends the toe downward instead of keeping it straight. One of the key reason causing this problem includes wearing a small size or narrow shoes that bend the toe. Besides this, some other reasons that can cause hammertoe include rheumatoid arthritis, vein or muscle damage, Charcot–Marie–Tooth disease, osteoarthritis, stroke, and other feet problems. The discomfort or pain caused due to hammertoe can be controlled by changing the footwear. Generally, hammertoe occurs owing to wrong selection of shoes which affects toe muscles, but in some cases, the problem may be present by birth itself.
According to study, “Global Hammertoe Market Research Report: by Type (Flexible, Rigid), by Treatment (Implant, Surgery, Others), by Diagnosis (X-Rays, Physical Examinations, and Others), by End-user (Physiotherapy & Orthopedic Centers, Hospitals & Clinics, and Others), and Region – Forecast to 2023” the key companies operating in the global hammertoe market are Arrowhead Medical Device Technologies LLC, BioPro, Stryker, Extremity Medical LLC, Nextremity Solutions Inc., Wright Medical Group N.V., Smith & Nephew Plc., Zimmer Biomet, Centric Medical LLC, Ossio, Pantheon, Generex Biotechnology Corp., Integra LifeSciences Corporation. Össur, Acumed LLC, Orthofix Holdings, Inc. The key players are functioning more certainly for leading the high value of market share and governing the highest market growth.
Based on type, hammertoe market is segmented into rigid hammer toes and flexible hammer toes. Based on treatment, market is segmented into orthotic devices, drugs, surgery and others. Based on non-surgical treatment, market is segmented into changes in shoe-wear, padding corns & calluses, medications and orthotic devices. Based on diagnosis, market is segmented into x-rays, physical examination and others. In addition, based on end-users, market is segmented into clinics, orthopedic centers, hospitals, physiotherapy and others.
The hammertoe market is driven by increase in a prevalence of arthritis among the population, followed by improvement in regulatory policies, rise in number of geriatric population and growth in research & development (R&D) expenditure in the pharmaceutical industry. However, lack of awareness among people, hospital stay associated & pain and problems associated with surgery may impact the market. Moreover, growth in technological advancements in hammertoe products is a key opportunity for market.
Based on geography, the North-American region dominates the hammertoe market owing to growth in advanced medical facilities, rise in availability of top-class healthcare infrastructure, and rapid adoption of new products & treatments in the region. The European and Asian-Pacific regions are estimated to witness substantial growth rate due to growth in availability of skilled health professionals, high purchasing power and surge in availability of products over the forecast period. The market is anticipated to grow at 10.8% CAGR by reaching the valuation of US $288.61 Million during the forecast period (2018-2023).
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Ankur Gupta, Head Marketing & Communications