Carpal Tunnel Syndrome Treatment Market

Carpal tunnel syndrome is a medical condition of numbness, weakness, and tingling in the hand due to compression of the median nerve in the wrist. The median nerve is located on the palm side and also known as the carpal tunnel. This nerve is responsible for sensation in the thumb, the index finger, the middle finger, and part of the ring finger. The key work of the median nerve is to supply the impulse to the thumb muscle. Excess pressure in the wrist and the median nerve causes swelling. Some other frequent conditions associated with carpal tunnel syndrome are thyroid dysfunction, high blood pressure, diabetes, and autoimmune disorders such as rheumatoid arthritis. The most common signs and symptoms of carpal tunnel syndrome are tingling, numbness, pain in the thumb, pain and burning that travels up to the arm, weakness in the muscles of the hand, and the wrist pain at night that interferes with sleep. Health care specialists recommend nerve conduction studies, physical examination, and other tests to confirm the presence of carpal tunnel syndrome. According to the National Institute for Occupational Safety & Health (NIOSH), more than 230,000 procedures are performed for carpal tunnel surgery every year. Approximately 23% of people with carpal tunnel syndrome are able to resume their profession after the surgery. Usually, women are more affected by carpal tunnel syndrome than men. More than 8.3 million people are diagnosed with carpal tunnel syndrome every year.

Increasing research and development activities, introduction of innovative therapies, rising demand for effective therapies among patients, and growing disease prevalence are projected to fuel the global carpal tunnel syndrome treatment market in the near future. Lifestyle factors such as smoking, high body mass index (BMI), sedentary lifestyle, and high salt intake may increase the risk of developing carpal tunnel syndrome. Jobs that involve repetitive movement of the wrist such as manufacturing, keyboard operating, assembly line work, and construction work raise the risk of developing carpal tunnel syndrome. Increasing health care insurance coverage is another factor likely to drive the global carpal tunnel syndrome treatment market during the forecast period.

The global carpal tunnel syndrome treatment market can be segmented based on treatment type, distribution channel, and region. In terms of treatment type, the market has been categorized into medications, physical and integrative therapies, and surgery. Based on distribution channel, the market has been classified into hospital pharmacy, retail pharmacy, and online pharmacy. In term of revenue, the hospital pharmacy segment dominated the carpal tunnel syndrome treatment market in 2016.

Geographically, the global carpal tunnel syndrome treatment market has been segmented into five regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the leading market for carpal tunnel syndrome treatment. In terms of revenue, the U.S. holds a major share of the North America market. The market in Europe is expanding rapidly, due to high prevalence of carpal tunnel syndrome in the region. The market in Asia Pacific and Latin America is projected to expand significantly in the near future. Developing economies such as China and India are anticipated to contribute to growth of the Asia Pacific market between 2017 and 2025, due to better health care infrastructure, economic growth, increase in the number of insurance payers, growth of the private health care sector, and rise in awareness among people in these countries. Brazil dominates the Latin America market for carpal tunnel syndrome treatment. South Africa, Turkey, and other developing countries in Middle East & Africa contribute to growth of the MEA market.

Key players operating in the global carpal tunnel syndrome treatment market are Pfizer, Inc., GlaxoSmithKline plc, Novartis AG, Bristol-Myers Squibb and Company, Wockhardt Ltd., Teva Pharmaceutical Industries Ltd, Johnson & Johnson, Mylan Pharmaceuticals, Inc. and Aurobindo Pharma Ltd.