Global Bunion Correction Systems Market to grow with a CAGR of 6.10%

Increasing healthcare infrastructure and initiatives taken by the government are the major drivers for the Global Bunion Correction Systems Market.

According to Tehsil Research report, “Global Bunion Correction Systems Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Bunion Correction Systems Market has valued at USD 720.20 million in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 6.10 % through 2028. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market. Globalization and medical tourism play a role in driving the demand for the Global Bunion Correction Systems Market. Globalization has made it easier for patients to access specialized healthcare services and treatments that may not be available or affordable in their home countries. Patients often travel internationally to seek expertise in bunion correction procedures. Medical tourism can offer cost savings for patients. Some countries and regions are known for providing high-quality medical care at a fraction of the cost compared to their counterparts in Western countries. Patients can receive bunion correction treatments at a lower cost, including the procedure, accommodations, and travel expenses. Many countries that attract medical tourists have well-regarded healthcare facilities and skilled healthcare professionals. Patients are confident in the quality of care they receive, which includes bunion correction procedures. In some countries with public healthcare systems, patients may face long wait times for non-emergency procedures. Medical tourism allows patients to access timely care for bunion correction without lengthy waiting periods. Patients have the flexibility to choose from a variety of destinations for their medical care. They can select a location that aligns with their preferences for treatment, travel, and recuperation. Globalization has facilitated networking among healthcare providers and patients worldwide. Patients can easily research and connect with healthcare providers in different regions, making informed decisions about their bunion correction treatment options. Bunion correction products are designed to address bunions, a foot deformity that impacts the metatarsophalangeal joint. Bunions, also known as hallux valgus, are prevalent among adults, affecting approximately 1 in 3 Americans. This common foot disorder often arises from factors such as wearing improperly fitting and narrow shoes for extended periods, experiencing foot injuries, or inheriting pre-existing foot issues. In September 2023, Stryker, a prominent global medical technology company, has unveiled the PROstep MIS Lapidus, a novel internal fixation system designed for the minimally invasive treatment of bunions by reducing hallux valgus deformity and fusing the first metatarsal cuneiform joint. PROstep MIS Lapidus provides robust fixation stability while utilizing a minimal incision approach. This innovative technology includes minimally invasive joint preparation, triplanar reduction, and the implementation of a three-screw construct aimed at establishing a tension band for biomechanical stability. Stryker, recognized as one of the world's leading medical technology companies, is committed to enhancing healthcare outcomes in collaboration with its clients. The company offers cutting-edge products and services in Medical and Surgical, Neurotechnology, Orthopaedics, and Spine to advance patient care and healthcare overall.

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Postoperative care is a critical aspect of the Global Bunion Correction Systems Market, and it can present certain challenges. The success of bunion correction procedures often depends on the quality of postoperative care and the patient's compliance with the recommended guidelines. Pain management is a crucial component of postoperative care. Patients may experience varying degrees of pain and discomfort after bunion correction surgery. Finding the right balance between effective pain relief and avoiding opioid overuse can be challenging. Swelling and inflammation are common after bunion correction surgery. Proper management and monitoring are necessary to ensure that excessive swelling does not lead to complications or discomfort. Some surgical techniques may require patients to wear casts, boots, or splints for a period after surgery. Ensuring that patients adhere to these immobilization recommendations can be challenging, as it may affect their mobility and daily activities. Proper wound care is essential to prevent infection and promote healing. Patients need clear instructions on wound care procedures, including cleaning, dressing changes, and monitoring for signs of infection. Depending on the surgical approach and technique, patients may have weight-bearing restrictions that they need to follow to prevent complications. Compliance with these restrictions can be challenging, especially for patients with active lifestyles. Global Bunion Correction Systems Market segmentation is based on Product, End Use, By Company, and Region. Based on End Use, Global Bunion Correction Systems Market is segmented into Hospitals, Ambulatory Centers, Specialty Centers. Ambulatory centers, also known as ambulatory care centers or outpatient care centers, are healthcare facilities designed to provide medical services to patients who do not require overnight hospitalization. These centers offer a wide range of medical services, diagnostics, treatments, and procedures on an outpatient basis, meaning that patients can visit the center, receive care, and return home the same day. Ambulatory centers play a crucial role in modern healthcare by offering convenient, cost-effective, and efficient alternatives to inpatient hospital care. Patients visiting ambulatory centers typically do not stay overnight. They arrive for their scheduled appointment, receive care or treatment, and are discharged once the procedure or treatment is completed and they are deemed medically stable. Many ambulatory centers are specialized, focusing on specific medical areas such as orthopedics, ophthalmology, gastroenterology, dermatology, and more. These centers are staffed with healthcare professionals and equipment tailored to their specialty.

Based on Region, the North America segment is the dominating segment of Global Bunion Correction Systems Market. North America hosts many leading medical research institutions and universities that conduct research into orthopedic conditions, including bunions. This research contributes to the development of new treatment methods and technologies. In countries like the United States, where private and public insurance systems are prevalent, the availability of insurance coverage for bunion correction procedures encourages patients to seek treatment, further boosting the market. There is generally greater awareness among both healthcare professionals and the public about foot health issues and available treatment options in North America. This awareness fosters early diagnosis and treatment. North America has a competitive medical device market, with several companies specializing in orthopedic devices and bunion correction systems. Competition often leads to product innovation and improved patient outcomes. North America attracts medical tourists from around the world seeking advanced healthcare services, including bunion correction. This contributes to the growth of the market. The region's well-established regulatory framework ensures the safety and effectiveness of medical devices, giving patients and healthcare providers confidence in the products and procedures.

Some of the major companies operating in the Global Bunion Correction Systems Market include:

• Stryker Corporation
• Arthrex, Inc.
• Zimmer Biomet Holdings, Inc.
• Wright Medical Technology, Inc.
• Extremity Medical, LLC.
• Acumed, LLC.
• De Puy Synthes
• Biomet, Inc.
• BioPro, Inc.
• Orthofix Holdings Inc.

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“Certain areas, particularly in North America, are projected to exert significant demand of Bunion Correction Systems. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the Global Bunion Correction Systems Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

Bunion Correction Systems Market By Product (Implants & Accessories, Wearables, Others), By End-Use (Hospitals, Ambulatory Centers, Specialty Centers), By Region, and Competition By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Global Bunion Correction Systems Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Bunion Correction Systems Market.

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