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Global Carpal Tunnel Release Systems Market Industry Analysis and Opportunity Assessment 2018 – 2028

Dec 26th 2018 at 10:57 PM

In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Carpal Tunnel Release Systems Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.

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The global carpal tunnel release systems market is expected to be worth US$ 839.1 Mn in 2028, it is projected to increase at a CAGR of 5.5% through 2028. North America is large market, which accounted for US$ 150.3 Mn in 2017, and is expected to grow at a CAGR of 3.6%.

Key Insights

  • Amongst Product Type, Open Carpal Tunnel Release Systems contributed maximum market share in the global Carpal Tunnel Release Systems market due to high number of surgery performed by open method. Endoscopic Carpal Tunnel Release system is expected to gain huge traction in the market over the forecast period due to its increasing adoption
  • By End User, Hospitals dominate market share in the Carpal Tunnel Release Systems market due high preference of patient to visit hospitals  for the accomplishment of carpal tunnel syndrome treatment
  • North America followed by Western Europe holds the maximum revenue share in the global Carpal Tunnel Release Systems. Companies operating Carpal Tunnel Release Systems focusing expand their business in China and Japan.
  • China and Japan is the faster growing region for Carpal Tunnel Release Systems market due rising geriatric population and expansion strategy followed by key manufacturer in this countries
  • The growing awareness regarding carpal tunnel surgery is expected to fuel the demand for carpal tunnel release systems in the global market. The demand is primarily emanating from countries such as the U.S. Germany, the U.K. and Australia. Enhanced emergency room coupled with affordability are factors contributing to growing demand Carpal Tunnel Release Systems market.
  • The U.S. Department of Labor has concluded that Carpal Tunnel Syndrome is the "chief occupational hazard of the 90's"-disabling workers in epidemic proportions
  • According to NIOSHA, Only 23% of all Carpal Tunnel Syndrome patients were able to return to their previous professions following surgery which may responsible for sluggish growth of Carpal Tunnel Release Systems market.

Factors and Trends Impacting the Growth of the Market

In this emerging world of technology, smart phones and laptops have become important devices. According to a survey, people spend maximum hours of the day using laptops and phones than they do asleep. People spend an average of 8 hours 21 minutes sleeping a day – but spend an average of 8 hours 41 minutes on these devices. Thus, changing lifestyle is expected to increase the prevalence of carpal tunnel syndrome, and consequently drive the demand for carpal tunnel release systems globally. Out-patient surgeries result in lower healthcare expenditure, and they are generally preferred for cover by the insurance payers offering medical reimbursement services. In addition, out-patient surgeries do not require overnight or prolonged stays in hospitals. The number of carpal tunnel surgeries performed in outpatients centers have increased since the last decade resulting rising demand of carpal tunnel release systems.

Carpal tunnel syndrome is one of the most common neuropathies, which occurs in the upper extremity of the body. According to the WHO, approximately 1% of the global population suffers from carpal tunnel syndrome every year. Carpal tunnel syndrome is the most common neuropathy found in people working in manufacturing facilities. According to the CEPR, approximately 17 to 19 million people were employed in manufacturing facilities in 2016. Thus, increasing number of people working in manufacturing facilities is expected to increase the prevalence of carpal tunnel syndrome across the globe which will ultimately boost the revenue growth of carpal tunnel release systems market.

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Regional Outlook

On the basis of region, the carpal tunnel release systems market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, China, Japan and Middle East & Africa. North America is estimated to dominate the global carpal tunnel release systems market with maximum value share of the overall market in 2017. The North America carpal tunnel release systems market is estimated to increase at a CAGR of 3.6% over the forecast period to reach the value of US$ 221.6 Mn. Emergence of several regional market players, a robust distribution network, and well-developed healthcare infrastructure in North America are some of the key factors driving the revenue growth of the carpal tunnel release systems market.

Key Players

Some of the top players operating in the global carpal tunnel release systems market such as Arthrex, Inc., MicroAire Surgical Instruments, LLC., S.E.G-WAY Orthopaedics Inc., Smith & Nephew plc, Integra LifeSciences Corporation, AM Surgical Inc., SONEX HEALTH, LLC., Medical Designs, LLC, CONMED Corporation, Innomed, Inc., Stryker Corporation,  LB Medical LLC., S2S Surgical LLC, Endodoctor GmbH. Leading manufacturer of carpal tunnel release systems are focusing on collaboration to promote the use of carpal tunnel release systems for the treatment of carpal tunnel syndrome. Some companies are focusing collaborate directly with hospitals to promote their carpal tunnel release systems. On other hand, few players of carpal tunnel release systems market are emphasis on collaboration with distributors to expand their regional presence.

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