Thumb Arthritis Market Overview
Tendinitis can occur in any part of the body. Most common areas can be knees, elbows, shoulders, hips, base of the thumb and Achilles tendon. When a person suffers from Tendinitis, he/she faces rising pain and/or frozen shoulder. It can be treated using physiotherapy, corticosteroid injections and surgery. In addition to this, tendinitis can be treated by rest, and OTC (Over the Counter) pain relieving medicines. The condition can be diagnosed directly through the physical exam. Tendinitis is a disease in which the tendons become inflamed. This disease is also known as tendonitis. Tendinitis can occur due to sports activities or activities like gardening, painting, scrubbing, carpentry, etc. It can also be caused due to calcium deposits near the tendons. Most commonly it is caused due to prolonged stress or subsequent wear and tear caused by repetitive movements. Additionally, it can also be caused due to sudden trauma. Most people suffer from tendonitis while performing their daily jobs or enjoying hobbies or indulging in sports activities. Since, tendons become less flexible as the age increases, tendonitis can also be developed with age. Symptoms of tendinitis include pain, swelling, stiffness, and restricted mobility at the affected joint, muscle weakness and affected skin can feel warm over the surface. Anyone can suffer from this condition but the people above the age of 40 are more likely to suffer from Tendinitis.
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Increasing cases of sports injuries, growing geriatric population, increasing cases of people suffering from diabetes and rheumatoid arthritis are the factors expected to drive the Tendinitis treatment market in Americas and Europe. According to a report published by the American Academy of Physical Medicine and Rehabilitation in 2014, 25 to 50% cases of sport injuries in the US are due to overuse of hand and wrist. Side effects of the treatment are likely to restrain the market. For instance, use of NSAIDs (Non-Steroidal Inflammatory Drugs) resulting in stomachache and gastrointestinal bleeding.
The market in Americas & Europe is expected to grow at a CAGR of 8.5% during the forecast period of 2022 to 2030 and estimated to reach at USD 13,099.0 million by 2023 from USD 7,525.3 in 2016. In thumb arthritis, the cushion-like cartilage inside the CMC joint breaks down, causing the bones to rub against each other. Increasing prevalence of thumb arthritis, growing geriatric and obese population, and rising healthcare expenditure are some of the major factors estimated to drive the Thumb Arthritis Market growth during the forecast period. A study was published in the HAND (American Association for Hand Surgery) journal in 2016, according to which the prevalence of the thumb CMC osteoarthritis was estimated to be around 8%-12% in the general population. However, the high cost of the surgical therapeutics along with related complications is estimated to restrain the market growth during the forecast period.
Regional Analysis
The Middle East and Africa region account for the least market share. This is mainly due to the presence of the poor African economies within the region, which have low per capita income and lack of the medical services. On the other, the Middle East holds the largest market share within the region.
The Americas dominate the global thumb arthritis market. A well-developed healthcare sector, growing geriatric population, and increasing healthcare expenditure are the major drivers for the growth of the global thumb arthritis market.
Europe holds the second largest thumb arthritis market owing to the availability of the funds for research, increasing surgery adoption rates, and growing patient population. According to the Office for National Statistics the geriatric population within the region is expected to grow and reach 20.5% of the total U.K population by 2026 from 18.0% in 2016.
Asia Pacific is the fastest growing region. Growing geriatric and obese population followed by the developing healthcare sector are boosting the market growth. Within the region, Australia holds a significant ratio of the obese population. However, the presence of the developing economies like India and China are marked by expanding healthcare sector. This is estimated to provide favorable backgrounds for the market growth.
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Segmentation
- On the basis of the end users, the market is segmented into hospitals & clinics, research organizations, retail pharmacies, and others.
- The global thumb arthritis market is segmented on the basis of type, diagnosis, treatment, and end user. On the basis of the type, the market is segmented into osteoarthritis thumb arthritis, rheumatoid thumb arthritis, and others. On the basis of the diagnosis, the market is segmented into physical examinations, imaging, fine needle aspiration (FNA), and others. The imaging segment is sub-segmented into X-ray, computed tomography (CT), magnetic resonance imaging (MRI), and others.
- On the basis of the treatment, the market is segmented into thumb exercise, medication, surgery, and others. The medication segment is sub-segmented into OCT medications, prescription medications, and others. The surgery segment is sub-segmented into trapeziectomy, osteotomy, and others.
Thumb Arthritis Market Players
- BioPro (U.S.)
- McKie Splints (U.S.)
- AbbVie Inc. (U.S.)
- Hoffmann-La Roche Ltd (Switzerland),
- Amgen Inc. (U.S.)
- Pfizer Inc. (U.S.)
- Carestream Health. (U.S.)
- General Electric Company (U.K), and others.
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