Hammertoe is a feet-related problem in which the toes are permanently bent. It causes defect of the second, third, or fourth finger in the toe. Hammertoe occurs due to an imbalance in ligaments and muscles that hold the toe straight. Instead of maintaining the toe straight, hammertoe bends it downward. Wearing a small size or narrow shoes that bend the toe is one of the reasons that cause hammertoe. In addition, vein or muscle damage, rheumatoid arthritis, osteoarthritis, stroke, Charcot–Marie–Tooth disease, and other foot disorders are all possible causes of hammertoe. The discomfort and pain caused by hammertoe can be controlled by changing footwear. Furthermore, hammertoe is caused by wrong selection of shoes that affects toe muscles, although in some situations, the disease may be present from birth. Corns or calluses on the top of the middle joint of the toe or on the tip of the toe are common symptoms of hammertoe.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected witness a significant growth in the future owing to the demand for vaccine and treatment
drugs for COVID-19. This, in turn, is expected to have a significant impact on the hammertoe market.
Top Impacting Factors
Increase in prevalence of arthritis and surge in geriatric population leading to rise in patient population boost the market growth.
In addition, rise in awareness about health and government initiatives to improve healthcare infrastructure are some factors that boost the market growth. Technological advancements in the field of hammertoe repair are expected to drive the market. Rise in product innovation and increase in R&D expenditure in the pharmaceutical industry propel the growth of the hammertoe market.
Furthermore, increase in number of hammertoe correction surgeries contributes toward the market growth.
However, problems associated with surgery and lack of awareness among people restrain the growth of the hammertoe market.
New Product Launches to Flourish the Market
In April 2019, Peek-Optima HA Enhanced announced that its Nvision’s foot and ankle implant, first foot and ankle implant to be made from biocompatible polymer material, has been cleared by the FDA. It would lower the extremity of the implant to use structural encoding. This implant would help in treating the patients suffering from hammertoe.
In May 2019, OSSIO, Inc., an orthopedic fixation company, launched OSSIO fiber Bone Pin Family for hammertoe correction. It is used for maintenance of alignment and fixation of bone fractures, osteotomies, arthrodesis, and bone grafts.
Key Benefits of the Report
- This study presents the analytical depiction of the hammertoe market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the hammertoe market share.
- The current market is quantitatively analyzed to highlight the hammertoe market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Hammertoe Market Report
- Which are the leading players active in the hammertoe market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is hammertoe market?
- What is hammertoe market prediction in the future?
- Who are the leading global players in the hammertoe market?
- What are the current trends and predicted trends?
- What are the key benefits of the hammertoe market report?
Hammertoe Market Report Highlights
By End User
Key Market Players
Nextremity Solutions, Inc., Centric Medical, LLC., Arrowhead Medical Device Technologies LLC., Ossio, Extremity Medical, Zimmer Biomet, Device Technologies, Inc., Wright Medical Group N.V., BioPro, Stryker