Carpal Tunnel Release Systems Market Growth, Trends and Forecasts 2019-2029 – Lower Procedure Costs and Improved Medical Reimbursement Coverage for CT Surgeries: FMI
Driven by the rising prevalence of carpal tunnel syndrome, global sales of carpal tunnel release systems surpassed a market value of US$ 490 Mn in 2018. Carpal tunnel release systems market is poised for a healthy growth outlook during 2019 – 2029. Growing availability of efficient carpal tunnel release surgery equipment is another strong factor that would continue to bolster the growth of carpal tunnel release systems.
M. Surgical, Inc. developed an endoscopic carpal tunnel release system, which allows a clear view of surgical field and structure of median nerve. Leading manufacturers are collaborating with contract manufacturing organizations for the development of efficient carpal tunnel release systems. In June 2018, A.M. Surgical Inc. entered into new comprehensive product development and manufacturing agreement with Medigus Ltd for an integrated visualization device.
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Although endoscopic surgeries are cost intensive, advantages such as less incision, reduced recovery time, and favorable reimbursement policies are boosting their adoption rate
Efficient, Evolved Surgery Procedures Fuelling Carpal Tunnel Release Systems Adoption
In the last few years, there has been an increase in carpal tunnel surgeries performed on out-patient surgeries owing to lower healthcare expenditure and better medical reimbursement coverage. This demand for carpal tunnel surgeries is attributable to the availability of effective and efficient products meant for CTR procedures. Key manufacturers of carpal tunnel release systems are collaborating with contract manufacturing organizations for developing efficient products according to treatment requirements.
In terms of surgery methods, although cost-effective open surgical procedure for carpal tunnel release was previously the most preferred, efficiency and less risk associated with endoscopic procedures has led to an increased investment in this method, with key players like Stryker Corporation and Arthrex launching their range of endoscopic carpal tunnel release systems. Evolution of CTR surgeries with endoscopic methods has boosted the overall growth of carpal tunnel release systems market.
“Risks associated with carpal tunnel release surgeries could inhibit the growth of CTR systems to some extent. Nerve injury is the major risk associated with open surgery. Moreover, both, open and endoscopic methods have technical limitations. The invasive nature of both these methods and emergence of alternatives which do not require any incision would result in sluggish adoption of carpal tunnel release systems in the coming years”, Analyst, Healthcare Industry, Future Market Insights
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Key Takeaways – Carpal Tunnel Release Systems Market Study
- Owing to increasing preference for open carpal tunnel release systems for surgeries, open carpal tunnel release systems continue to contribute a significant market share.
- Demand for endoscopic carpal tunnel release system is expected to gain traction during the forecast period owing to increasing adoption of minimally invasive endoscopic surgery.
- Increasing patient visits to hospitals for carpal tunnel syndrome treatment is expected to increase market share of hospitals in terms of end user.
- Owing to rising number of carpal tunnel release surgeries along with reimbursement policies, Europe is expected to be significant revenue generator
Acquisition, Product Innovation: Key Forward Strategy to Define Future Market Positions of Manufacturers
Leading manufacturers in the carpal tunnel release systems market are focusing on acquiring local manufacturers to expand their product portfolio and increase market share, developed and emerging markets. Manufacturers are also collaborating with hospitals and distributors to promote their CTR systems and expand regional presence, respectively. Increased research and development for a more focused product innovation and product enhancement would also drive the global carpal tunnel release systems market over the forecast period. Key manufacturer in the carpal tunnel release systems market are Arthrex, Smith & Nephew, CONMED Corporation, Integra LifeSciences Corporation, MicroAire Surgical Instruments, S.E.G-WAY Orthopaedics, Thayer Intellectual Property, and Sonex Health, LLC
Preview Analysis On Carpal Tunnel Release Systems Market Segmentation by Product Type – open carpal tunnel release system and endoscopic carpal tunnel release system: https://www.futuremarketinsights.com/reports/carpal-tunnel-release-market
CARPAL TUNNEL RELEASE SYSTEMS MARKET TAXONOMY
The global carpal tunnel release systems market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- Open CTR systems
- Endoscopic CTR systems
- Ambulatory Surgical Centers
- Specialty Clinics
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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