Carpal Tunnel Syndrome Drug Market
Market Analysis and Insights: Global Carpal Tunnel Syndrome Drug Market
Carpal tunnel syndrome drug market is growing at a steady CAGR in the forecast period of 2020-2027. The report contains data of the base year 2019 and historic year 2018. This rise in market value can be attributed to the growing prevalence of carpal tunnel syndrome.
Carpal tunnel syndrome is also known as median nerve compression neuropathy which is characterized by moderate to severe pain, numbness, tingling or weakness in the upper extremity of the body hand and arm. This condition results when one of the major nerves, the median nerve which passes through the hand gets squeezed or compressed. The median nerve provides sensation to the thumb and fingers. Carpal tunnel syndrome can occur in one or both hands.
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According to the Bureau of Labor and Statistics and the National Institute for Occupational Safety and Health (NIOSH), it is estimated that each year more than eight million people are affected by carpal tunnel syndrome and carpal tunnel surgery is the second most common type of surgery with over 230,000 procedures performed annually.
Global Carpal Tunnel Syndrome Drug Market Scope and Market Size:
Global Carpal tunnel syndrome drug market is segmented on the basis of treatment, mechanism of action, drugs, route of administration, distribution channel and end-users. The growth among these specific segments will help users analyze niche pockets of growth and strategies to approach the market and determine your core application areas and difference in your target markets.
- Introduction of innovative therapies is accelerating the market growth
- Rising demand for effective therapies among patients is boosting the market growth
- Rising spending on public health programs is acting as catalyst to market growth
- Increasing global healthcare expenditure is driving the market growth for carpal tunnel syndrome drug
- Lack of awareness amongst people about carpal tunnel syndrome is restraining the market growth
- High cost of surgical treatment is hindering the market growth in the forecast period
- Inadequate reimbursement and lack of availability of skilled professionals are hampering the market growth
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Based on treatment, the carpal tunnel syndrome drug market is segmented into medication, integrative therapy and surgery
Based on mechanism of action, the carpal tunnel syndrome drug market is segmented as analgesics, NSAIDs, corticosteroids and others
Based on drugs, the carpal tunnel syndrome drug market is segmented as ibuprofen, prednisone, triamcinolone and others
Based on the route of administration, the carpal tunnel syndrome drug market is segmented into oral and parenteral
Based on the distribution channel, the carpal tunnel syndrome drug market is segmented as direct, online pharmacy, retailers and others
Based on end-users, the carpal tunnel syndrome drug market is segmented into hospitals, homecare, specialty clinics and others
Global Carpal Tunnel Syndrome Drug Market Country Level Analysis
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific in Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Israel, Egypt, Kuwait, Rest of Middle East and Africa as a part of Middle East and Africa, Argentina, Brazil, Peru and Rest of South America as part of South America.
Key Development in the Market
- In July 2017, CarpalAID, LLC received approval from the FDA for CarpalAID patch for the non-invasive treatment of painful carpal tunnel syndrome symptoms. The approval of CarpalAID patch provides critical medical relief from painful symptoms of carpal tunnel syndrome.
Carpal tunnel syndrome drug market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carpal tunnel syndrome drug for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major players in the carpal tunnel syndrome drug market are GlaxoSmithKline plc, ALLERGAN, Pfizer Inc, Johnson & Johnson Services, Inc, Novartis AG, Teva Pharmaceutical Industries Ltd, Bristol-Myers Squibb Company, WOCKHARDT, Mylan N.V, Aurobindo Pharma, Arthrex, Inc, Eisai Co., Ltd, Pressure Profile Systems, Endo Pharmaceuticals Inc, PAVmed Inc, Avadim Health, Inc, Bioness Inc among others.
Research Methodology: Global Carpal Tunnel Syndrome Drug Market:
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technical Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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