Market Research Report
Global Carpal Tunnel Syndrome Treatment Market - 2022-2029
|Global Carpal Tunnel Syndrome Treatment Market - 2022-2029|
Published: May 7, 2022
Content info: 200 Pages
Delivery time: 2 business days
Market Overview The global carpal tunnel syndrome treatment market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).
Carpal tunnel release is a surgery used to treat and potentially heal the painful condition known as carpal tunnel syndrome. A proper diagnosis of carpal tunnel syndrome is the primary reason for carpal tunnel surgery. Carpal tunnel release is generally an outpatient procedure, which means that one can go home the same day as the surgery if all goes well. There are two types of carpal tunnel release surgery, i.e., open and endoscopic.
The global carpal tunnel syndrome treatment market growth is driven by the increasing prevalence of carpal tunnel syndrome (CTS) and lower procedure costs and improved medical reimbursement coverage for CT surgeries.
Lower procedure costs and improved medical reimbursement coverage for CT surgeries is expected to hold the largest share in this market segment
Better medical reimbursement coverage and lower expenses on healthcare have also bolstered the demand for carpal tunnel release in the past few years. Due to the availability of efficient and effective products, the demand for carpal tunnel treatment for the CTR procedures. The leading players of the market are merging with manufacturing organizations on contract basis in order to develop efficient products as per the particular treatment requires.
An important factor expected to boost the global carpal tunnel release market is the affordability of emergency rooms CTR systems in the market. Also, the new emergency rooms are now equipped with better technological devices so as to provide services of a higher class and that too at reasonable prices. Apart from that, the increase in the number of geriatric population all over the world and especially in the developing nations is expected to open new doors of opportunity for surgical procedures of greater quality. The advancement of CTR surgeries accompanied by endoscopic methods have accelerated the comprehensive growth of carpal tunnel release systems market globally.
High cost of surgical procedures can hinder the market growth
According to the American Academy of Orthopaedic Surgeons, Carpal tunnel syndrome has a prevalence of nearly 4 percent in the United States, leading to over 600,000 CTR procedures every year. A total of 10,173 claims were identified, with a mean charge per claim of $4,780. The use of general anesthesia was associated with higher charges compared to local anesthesia. The location of the surgery also affected costs: charges for surgeries performed in an HOPD were approximately 51 percent higher than those performed in an ASC.
COVID-19 Impact Analysis
It is 2022, and the COVID-19 induced pandemic is far from over. Scientists worldwide continue to detect newer mutations (variants) of the virus and develop vaccines to try and reduce the impact of the virus on our lives. However, the pandemic has completely transformed how we lived, worked and led our lives. Offices are (in some cases) permanently shut, working and studying from home is the new norm. Long hours of work and time spent binge-watching TV or content online have also given rise to disorders that were earlier only heard of in isolated cases. Names such as Carpal Tunnel Syndrome, Dry Eye Syndrome, Repetitive Stress Injuries, Cervical Spondylitis and sleep disorders are now commonplace, affecting nearly 30% of those working from home for the first time.
The ambulatory surgical centres segment is expected to hold the largest share in this market segment
Ambulatory care or outpatient care is medical care provided on an outpatient basis. Throughout the past few decades, surgery has been increasingly prioritized by the global health community or governments, even in low- and middle-income countries. As a result, the number of surgical procedures has risen significantly to address the global disease burden, including carpal tunnel syndrome, thus leading to a rise in the utilization and adoption of carpal tunnel release systems.
Over the past few years, with the move to value-based care, hospitals and healthcare systems have faced extreme competition from mobile service sites, particularly those that offer physician office-based procedures and ambulatory surgery. Gaining in popularity across the globe, ambulatory surgery centers (ASCs) provide both operational and economic efficiencies, enabling ease of patient access, very competitive pricing, and increased opportunities for physician engagement. Thus, with the increasing number of carpal tunnel release surgeries, the studied market is expected to increase in the future.
North America region holds the largest market share of global carpal tunnel syndrome treatment market
North American dominates the Carpal Tunnel Release Systems products market primarily due to high awareness regarding such health conditions. In addition, the rising prevalence of the condition is also fueling the market growth across the region.
According to the 2020 article, titled "Carpal Tunnel Syndrome" (Justin O. Sevy; Matthew Varacallo), in the United States, carpal tunnel syndrome has an incidence of 1 to 3 persons per 1000 per year, with a prevalence of 50 per 1000, with similar incidence and prevalence in most developed countries (2018). It most commonly affects whites, has up to a 10 to 1 predominance in females, and has a peak age of 46 to 60.
The global carpal tunnel syndrome treatment market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include AM Surgical Inc., Arthrex, Inc., CONMED Corporation, Integra LifeSciences Corporation, Medical Designs, LLC, MicroAire Surgical Instruments, LLC., Smith & Nephew plc, Stryker Corporation, Trice Medical.
Overview: Integra LifeSciences, a world leader in medical devices, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions in orthopedics, neurosurgery, and reconstructive and general surgery. Integra advanced wound care is focused on research and innovation for the management of acute or chronic wounds and burns.
Product Portfolio: It includes products like SafeGuard Mini Carpal Tunnel Release System.
Visualize the composition of the carpal tunnel syndrome treatment market segmentation by product type, end-user and region highlighting the key commercial assets and players.
Identify commercial opportunities in carpal tunnel syndrome treatment market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of carpal tunnel syndrome treatment market - level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players.
The global carpal tunnel syndrome treatment market report would provide an access to an approx. 49 market data table, 50 figures and 200 pages.
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