Global Carpal Tunnel Release Systems Market, by Product (Open CTR systems and Endoscopic CTR systems), by End User (Hospitals, Ambulatory Surgical Centres, and Specialty Clinics) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global carpal tunnel release systems market in 2020 is estimated for more than US$ 618.2 Mn and expected to reach a value of US$ 930.8 Mn by 2028 with a significant CAGR of 5.2%.
As per the report, the global carpal tunnel release system market witness slow growth going to the factors including the increase in healthcare expenditure, adoption of carpal tunnel release systems in hospitals, and the supportive reimbursement policies. The accessibility of efficient and effective products coupled with the upsurge need for carpal tunnel treatment for the CTR procedures also propels the market growth during the upcoming years.
Other factors like the mounting count of the elderly population, implementation of advanced CTR surgeries via endoscopic methods, and the increasing awareness among healthcare professionals and patients about capital tunnel syndrome also boosts the annual growth rate of the global carpal tunnel release system. However, the expensive cost of surgical treatment is the major hindering the market growth in the forecast period
Furthermore, Meridian Market Consultants (MMC) Study identifies the facts revealed by the National Institute for Occupational Safety & Health (NIOSH) stating that more than 230,000 procedures were performed for carpal tunnel surgery per year. The organization further stated that nearly 23% of the total count of patients with carpal tunnel syndrome were able to resume their profession after the surgery. Records also revealed that women are more affected by carpal tunnel syndrome as compared to men.
Increasing demand for effective therapies among people coupled with the growing per capita healthcare expenses is among the prime growth driving factors fuelling the market growth.
MMC Study identifies some of the key participating players in the carpal tunnel release systems market globally are A.M. Surgical Inc., Arthrex Inc., CONMED Corporation, Innomed Inc., Integra LifeScience, MicroAire Surgical Instruments LLC, S.E.G-WAY Orthopaedics Inc., Smith & Nephew plc., Sonex Health LLC, and Stryker Corporation.
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