Thumb Arthritis Market Highlights
In the realm of orthopedic care, the Thumb Arthritis Market addresses the challenges posed by arthritis affecting the thumb joint, particularly the carpometacarpal joint. Arthritis in the thumb joint, also known as carpometacarpal joint arthritis, is a degenerative condition characterized by inflammation, pain, and loss of function in the base of the thumb. This condition can significantly impair hand mobility and impact daily activities such as gripping, pinching, and grasping. The Thumb Arthritis Market offers a range of treatment options aimed at relieving pain, improving function, and preserving joint integrity. These may include non-surgical interventions such as splinting, medication, and physical therapy to alleviate symptoms and improve thumb function. In more severe cases, surgical interventions such as joint reconstruction or arthroplasty may be considered to restore joint stability and function. As awareness of thumb arthritis grows and advancements in treatment options continue, the Thumb Arthritis Market is poised for further expansion, offering hope and support to individuals affected by this debilitating condition.
The Thumb Arthritis Market was estimated at USD 0.4 billion in 2022. Thumb arthritis market revenue is anticipated to increase from USD 0.43 billion in 2023 to USD 0.833 billion by 2032, growing at a compound yearly growth rate (CAGR) of 8.50% over the forecast period (2023-2032).
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.
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.
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.
Key Players
The key Thumb Arthritis Market players 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), and others.
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