The global market for interphalangeal fusion is highly consolidated with a handful players dominating the scene. The Interphalangeal Fusion Market shows a definite shift in favor of the developing regions of Asia Pacific, such as India and China. There is also a strong trend of collaboration between large hospitals and third party payers, owing to distribution efficiency and strategic partnerships. Technology gains from product development represent largest value proposition over cost.
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Interphalangeal fusion or arthrodesis is a surgical technique for immobilizing the distal or proximal joints of hands or legs for the treatment of pain, deformity or instability of the joint resulting from degenerative, inflammatory or posttraumatic disorders such as hammertoe and arthritis.
The rising incidence rate of hammertoe and arthritis is the prime driver of the market growth. According to Center for Disease Control, an estimated 54.4 Million U.S. adults suffer from arthritis, rheumatoid arthritis, gout, lupus or fibromyalgia annually. CDC further predicts that an estimated 78 Million U.S. adults will suffer from arthritis by 2040. The percentage of the older population, aging 65 years or older, suffering from arthritis is a staggering 49.6% with osteoarthritis being the most common form, affecting an estimated 31 Million Americans per year. According to the National Foot Health Assessment about 3% of U.S. adults aged 21 and older, reflecting approximately 7 Million people, suffered from hammertoe in 2015. Thus, a large and sustainable market exists in the region, which is easily comprehendible.
Technological developments such as the development of lightweight and strong fixation implants made of titanium and other materials, customization of implant screws according to patient sizes and others are driving larger market uptake.
The high cost of surgery and lack of awareness are some of the restraints in the global interphalangeal fusion market. Surgical complications such as risk of infection and pain, coupled with the poor healthcare infrastructure in developing regions, are other constraints that impede the growth of the interphalangeal fusion market. The market also suffers from competition from external fixation as well as shoe inserts, which may hamper the growth of the market.
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For example, BioPro implants developed the Osteotec Silicone Finger Implant using high tear resistant implant grade silicone, replacing the traditional cobalt chromium metals. Companies are also developing titanium metal implants for patients suffering from metal allergies related to standard cobalt chrome.
Product development is another attractive strategy followed by many companies. For example, Centric Medical announced the FDA clearance of the metatarsal hemi implant system in February 14, 2017, followed by the FDA 510(k) clearance of its cannulated screw internal fixation system in January 18, 2018.
The global interphalangeal fusion market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America, dominated by the U.S., accounts for the largest share in the global interphalangeal fusion market, owing to the concentration of key market players, increasing number of large procedures, rising awareness and faster uptake of latest technologies. The Europe interphalangeal fusion market is expected to be led by Germany, France and the U.K. The advanced medical devices industry in Germany is a significant driver for the European market.
The Asia Pacific excluding Japan interphalangeal fusion market is expected to grow at the fastest CAGR, owing to the growing healthcare expenditure and improvements in healthcare infrastructure with China and India expected to hold the lion’s share.
The Middle East and Africa interphalangeal fusion market is expected to be dominated by wealthy gulf economies of Saudi Arabia, Kuwait, UAE and Qatar. The development of healthcare infrastructure, owing to government initiatives, coupled with large public healthcare expenditure, is expected to drive the market for interphalangeal fusion in the Middle East and Africa region.
Examples of some of the major players operating in the global interphalangeal fusion market are Arthrex, Inc., Biomet, Inc., Acumed, Nextremity Solutions, Inc., Arthrosurface, Arrowhead Medical Device Technologies, Wright Medical Group N.V., Centric Medical LLC. (Life Spine, Inc.), Lineage Medical, Inc., BioPro implants, Instratek, Stryker, Extremity Medical LLC and others.
The global interphalangeal fusion report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Interphalangeal Fusion Market Set to Record Exponential Growth by 2028
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