Thumb Arthritis Market Will Reflect Significant Growth Prospects Forecast to 2027
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 market, 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.
The Global Thumb Arthritis Market trends is expected to grow at an approximate CAGR of 8.1% 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.
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Segmentation
The global thumb arthritis treatment market is segmented based on type, diagnosis, treatment, and end user.
By Type
- Osteoarthritis Thumb Arthritis
- Rheumatoid Thumb Arthritis
- Others
By Diagnosis
- Physical Examinations
- Imaging
- Fine Needle Aspiration (FNA)
- Others
By Treatment
- Thumb Exercise
- Medication
- Surgery
- Others
By End users
- Hospitals & Clinics
- Research Organizations
- Retail Pharmacies
- Others
Key Players
The key players in the global thumb arthritis test market are inclusive of
- BioPro (U.S.)
- McKie Splints (U.S.)
- AbbVie Inc. (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Amgen Inc. (U.S.)
- Pfizer Inc. (U.S.)
- Carestream Health. (U.S.)
- General Electric Company (U.K)
- Others
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.
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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.
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