Thumb Arthritis Market Overview
In thumb arthritis, the cushion-like cartilage inside the CMC joint breaks down, causing the bones to rub against each other. Increasing prevalence of thumb arthritis, growing geriatric and obese population, and rising healthcare expenditure are some of the major factors estimated to drive the market growth during the forecast period. A study was published in the HAND (American Association for Hand Surgery) journal in 2016, according to which the prevalence of the thumb CMC osteoarthritis was estimated to be around 8%-12% in the general population. However, the high cost of the surgical therapeutics along with related complications is estimated to restrain the market growth during the forecast period. During the forecast period 2020-2027, the thumb arthritis market size is expected to exhibit a growth rate of 8.1% CAGR.
Thumb arthritis is also known as carpometacarpal (CMC) joint Thumb Arthritis Market. This is a common type of arthritis that affects the hands. The joint in the thumb is called the saddle joint. This is the breakdown of the cartilage in the CMC joint of the thumb which irritates the joints. The few symptoms of the disease are thumb joint pain, thumb base swelling, an enlarged or bony appearance of the joint at your thumb base, reduces strength when pinching or gripping other objects, and others. As the rise of humans age, the cartilage wears down which is the second-most common type of arthritis called degenerative arthritis. Lupus or Rheumatoid arthritis may also cause joints to break down.
Thumb Arthritis Market Increasing Prevalence and Growing Geriatric Population Will Grow At an Approximate CAGR of 8.1% during Forecast period.In thumb arthritis, the cushion-like cartilage inside the CMC joint breaks down, causing the bones to rub against each other. Increasing prevalence of thumb arthritis, growing geriatric and obese population,rising healthcare expenditure are some of major factors estimated to drive Thumb Arthritis Market growth during the forecast period. A study was published in the HAND (American Association for Hand Surgery) journal in 2016, according to which the prevalence of the thumb CMC osteoarthritis was estimated to be around 8%-12% in the general population. However, the high cost of the surgical therapeutics along with related complications is estimated to restrain the market growth during the forecast period.
Thumb Arthritis Market Segmentation
- The global thumb arthritis market is segmented on the basis of type, diagnosis, treatment, and end user. On the basis of the type, the market is segmented into osteoarthritis thumb arthritis, rheumatoid thumb arthritis, and others. On the basis of the diagnosis, the market is segmented into physical examinations, imaging, fine needle aspiration (FNA), and others. The imaging segment is sub-segmented into X-ray, computed tomography (CT), magnetic resonance imaging (MRI), and others.
- On the basis of the treatment, the market is segmented into thumb exercise, medication, surgery, and others. The medication segment is sub-segmented into OCT medications, prescription medications, and others. The surgery segment is sub-segmented into trapeziectomy, osteotomy, and others.
- On the basis of the end users, the market is segmented into hospitals & clinics, research organizations, retail pharmacies, and others.
Thumb Arthritis Market Regional Analysis
The Americas dominate the global thumb arthritis market. A well-developed healthcare sector, growing geriatric population, and increasing healthcare expenditure are the major drivers for the growth of the global thumb arthritis market.
Europe holds the second largest thumb arthritis market owing to the availability of the funds for research, increasing surgery adoption rates, and growing patient population. According to the Office for National Statistics the geriatric population within the region is expected to grow and reach 20.5% of the total U.K population by 2026 from 18.0% in 2016.
Asia Pacific is the fastest growing region. Growing geriatric and obese population followed by the developing healthcare sector are boosting the market growth. Within the region, Australia holds a significant ratio of the obese population. However, the presence of the developing economies like India and China are marked by expanding healthcare sector. This is estimated to provide favorable backgrounds for the market growth.
The Middle East and Africa region account for the least market share. This is mainly due to the presence of the poor African economies within the region, which have low per capita income and lack of the medical services. On the other, the Middle East holds the largest market share within the region.
Thumb Arthritis Market Players
- BioPro (U.S.)
- McKie Splints (U.S.)
- AbbVie Inc. (U.S.)
- Hoffmann-La Roche Ltd (Switzerland),
- Amgen Inc. (U.S.)
- Pfizer Inc. (U.S.)
- Carestream Health. (U.S.)
- General Electric Company (U.K), and others.
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