Market Scenario:
Cheilectomy is a surgical procedure aimed to remove the bony lump present on the top of the metatarsophalangeal joint (big toe). Hallux rigidus, a type of big toe arthritis is a major cause of the same. According to a study published in the World Journal of Orthopedics in 2017, hallux rigidus is a degenerative disease of the first MTP joint. Moreover, it is estimated that the disease affects 1 in every 40 people, aged 50 or more. Females are greatly affected by the disease as compared to males, .i.e., by a ratio of 2:1. Therefore, increasing prevalence of hallux rigidus and growing female population are the major drivers for the market growth during the forecast period.
Additionally, increasing demands for minimally invasive procedures and rising healthcare expenditure is estimated to fuel the market. According to the World Health Organization, the geriatric population is projected to grow from an estimated 524 million in 2010 to approximately 1.5 billion by 2050. However, high procedural cost followed by complications like deep vein thrombosis, need for repeated surgery, stiffness in the joints of the toes and low per capita healthcare expenditure in the middle and low-income countries is estimated to restrain the market growth during the projected period. According to the Fairfield Independent Hospital, the procedural cost for the same in 2016 was estimated to be around USD 3,545.
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The global cheilectomy market is expected to grow at a CAGR of 7.8% during the forecast period.
Segmentation:
The global cheilectomy market is segmented by the method, anesthesia, medication, and end-user.
By the method, the market is segmented into open, arthroscopic, and percutaneous method.
By the anesthesia, the market is categorized into general anesthesia, local anesthesia, and regional anesthesia. By the medication, the market is segmented into prescription pain relievers, OCT, and others. By prescription the pain relievers the market is segmented into corticosteroids, opioids, nonsteroidal anti-inflammatory drugs (NSAIDs), and others. By the OCT drugs, the market is segmented into ibuprofen, naproxen, and others. By end users, the market is segmented into hospitals & clinics, academic institutes, retail pharmacies, and others.
Regional Analysis:
The Americas dominate the global cheilectomy market owing to a well-developed healthcare sector and increasing the prevalence of hallux rigidus. Moreover, increasing healthcare expenditure and presence of the key players within the regions boosts the growth of the market in the Americas. Additionally, increasing geriatric population and growing female population fuels the regional market growth.
Europe is the second largest cheilectomy market, which is followed by Asia Pacific. Osteoarthritis is a common condition that may lead to hallux rigidus. Thus, increasing prevalence of the disease within the region drives the market growth. According to the Arthritis Research U.K in 2013, osteoarthritis was estimated to be the most common musculoskeletal condition in the geriatric population. Additionally, it was estimated that approximately, 8.75 million people within the region had sought some treatment for osteoarthritis.
Asia Pacific is the fastest growing region for the market due to the presence of a huge patient population, continuously developing economies like India & China, and presence of huge opportunity in the market.
On the other hand, the Middle East & Africa has the least share in the global cheilectomy market due to the presence of poor economy, especially in the Africa region. Majority of the market of this region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure.
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Key Players in Global Cheilectomy Market
The key players for the global cheilectomy market are Henry Schein, Inc. (U.S.), Pfizer Inc. (U.S.), Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), STEROID S.p.A. (Italy), Sanofi (France), Janssen Pharmaceuticals, Inc. (Belgium), PurduePharma (U.S.), ALLERGAN (Republic of Ireland), Boehringer Ingelheim International GmbH (Germany), and others.
Detailed Table of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry

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