Global Carpal Tunnel Release Systems Market to Grow with a CAGR of 5.7% During 2022-2031; Market to Grow on Account of Rising Prevalence of Carpal Tunnel Syndrome
Kenneth Research published a report titled “Carpal Tunnel Release Systems Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global carpal tunnel release systems market in terms of market segmentation by product, end-use, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global carpal tunnel release systems market is anticipated to grow with a CAGR of 5.7% over the forecast period, i.e., 2022 – 2031. The market is segmented by end-use into hospitals, ambulatory surgical centers, and specialty clinics. Out of these, the hospitals segment is projected to garner the largest revenue of USD 546.6 Million by the end of 2031. Additionally, in the year 2021, the segment generated a revenue of USD 327.6 Million.
The global carpal tunnel release systems market is estimated to garner a revenue of USD 1049.3 Million by the end of 2031, up from a revenue of USD 608.6 Million in the year 2021. Increasing concern for the rising prevalence of carpal tunnel syndrome (CTS), whose prevalence rate is estimated to be between 1% and 5% amongst the general population, is expected to drive the growth of the market in the coming years.
Geographically, the global carpal tunnel release systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is anticipated to garner the largest revenue of USD 381.9 Million by the end of 2031. Moreover, in the year 2021, the market in the region generated a revenue of USD 234.3 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Need for Advanced Healthcare Services to Drive the Market Growth
The current health expenditure (as a share of GDP) around the globe grew from 9.092% in the year 2008 to 9.845% in the year 2019, according to the statistics by the World Bank.
With the rising concern for the increasing prevalence of carpal tunnel syndrome (CTS), there is a rising need amongst the individuals for advanced healthcare services that can help them treat with this disease. Supported by the rising healthcare expenditure, organizations are increasing working on developing advanced surgical devices and procedures that can help to treat the diseases. Carpal tunnel release systems (CSTR) are used widely as a minimally invasive surgical procedure for the treatment of CTS. Hence, such a factor is anticipated to drive the growth of the market in the coming years.
However, the stringent regulatory norms, along with the lack of awareness for the availability of the product are some of the major factors predicted to hinder the market growth in the coming years.
However, the stringent regulatory norms, along with the lack of awareness for the availability of the product are expected to operate as key restraint to the growth of global carpal tunnel release systems market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global carpal tunnel release systems market which includes company profiling of Stryker Corporation, A.M. Surgical, Inc., Arthrex, Inc., CONMED Corporation, Integra LifeSciences Corporation, Medical Designs LLC, MicroAire Surgical Instruments, LLC, Smith & Nephew plc, Trice Medical, Sonex Health Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global carpal tunnel release systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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