Product Code: RP-ID-10352388 |
Published Date: 21 Mar 2025 |
Region: Global |
Category: Healthcare & Pharmaceuticals |
Report ID: 10352388
Market Overview:
Carpal Tunnel Release Systems Market Segmentation by Product (Open, and Endoscopic Carpal Release Systems); and by End-Use (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics)-Global Demand Analysis & Opportunity Outlook 2021-2031
Global Carpal Tunnel Release Systems Market Highlights Over 2021 - 2031
The global carpal tunnel release systems market is estimated to garner a revenue of USD 1049.3 Million by the end of 2031 by growing at a CAGR of 5.7% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market registered a revenue of USD 608.6 Million. The growth of the market can be attributed to the rising prevalence of carpal tunnel syndrome (CTS) globally which registered an estimated prevalence rate between 1% and 5% amongst the general population. In addition to this, the increasing availability of safe and reliable products for the treatment of the disease and the rising awareness for carpal tunnel endoscopic surgeries are also projected to drive the growth of the market during the forecast period.
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On the other hand, the rising healthcare expenditure globally and the surge in healthcare reimbursement policies are also anticipated to contribute to the growth of the market in the coming years. According to the statistics by the World Bank, the current health expenditure (as a share of GDP) touched 9.845% in the year 2019, up from 9.092% in the year 2008.
Global Carpal Tunnel Release Systems Market Regional Synopsis
Regionally, 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. The market in North America is anticipated to garner the largest revenue of USD 381.9 Million by the end of 2031, up from a revenue of USD 234.3 Million in the year 2021. The market growth in the region can primarily be attributed to the increasing healthcare expenditure in the region, especially in the United States. For instance, according to the statistics by the Centers for Medicare & Medicaid Services (CMS), the healthcare spending in the United States reached USD 4.1 Trillion in the year 2020 by growing at 9.7%. Moreover, as a share of the nation’s GDP, health spending in the nation touched 19.7% in the same year.
On the other hand, the market in Europe is anticipated to garner the second-largest revenue of USD 317.9 Million by the end of 2031, up from a revenue of USD 189.9 Million in the year 2021. The market in the region is further segmented by country into Germany, Italy, United Kingdom, France, Spain, Russia, Netherlands, and the Rest of Europe. The market in the United Kingdom is projected to garner the largest revenue of USD 58.5 Million by the end of 2031, up from a revenue of USD 33.2 Million in the year 2021.
Growth Drivers and Challenges Impacting the Growth of the Global Carpal Tunnel Release Systems Market
Growth Drivers
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Rising Healthcare Expenditure
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Growing Prevalence of Carpal Tunnel Syndrome (CTS)
Challenges
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Stringent Regulatory Norms
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Lack of Awareness for the Availability of the Product
Global Carpal Tunnel Release Systems Market Segmentation Synopsis
The global carpal tunnel release systems market is segmented by product into open carpal release systems and endoscopic carpal release systems. The open carpal release systems segment is projected to garner the largest revenue by the end of 2031, while the endoscopic carpal release systems segment is projected to grow with the highest CAGR of 6.4% during the forecast period. Further, the market is segmented by end-use into hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment is projected to garner the largest revenue of USD 546.6 Million by the end of 2031, up from a revenue of USD 327.6 Million in the year 2021.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global carpal tunnel release systems market that are included in our report are 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.
Latest Developments in the Global Carpal Tunnel Release Systems Market:
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January 27th, 2022: Sonex Health Inc. announced that it has released the first trigger finger release (TFR) procedures in the United States. The procedure which is performed using UltraGuideTFR device, the hand-held device developed by Sonex for the treatment of trigger finger syndrome.
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February 7th, 2019: Trice Medical announced that it would be acquiring the minimally invasive orthopedic procedure solution provider, S.E.G-WAY Orthopedics (SegWAY). The acquisition would allow Trice to offer both minimally invasive and surgical solutions and also enhance its expertise in minimally invasive carpal tunnel surgeries with the Endoscopic Carpal Tunnel Release (ETCR) of SegWAY.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
- 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.
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