Carpal Tunnel Release Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Carpal Tunnel Release Systems market is segmented by Product Type (Open carpal tunnel release system, Endoscopic carpal tunnel release system), End-User (Hospitals, Ambulatory surgical centres, Others), and Geography

Market Snapshot

CTRS
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.9 %

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Market Overview

The Carpal Tunnel Release Systems market studied is anticipated to grow with a CAGR of nearly 4.9%, during the forecast period.

Certain factors that are driving the market growth include Increasing prevalence of Carpal Tunnel Syndrome (CTS) and lower procedure costs and improved medical reimbursement coverage for CT surgeries.

Carpal tunnel syndrome (CTS) is a collection of characteristic symptoms and signs that occurs following compression of the median nerve within the carpal tunnel. Usual symptoms include numbness, paresthesias, and pain in the median nerve distribution. These symptoms may or may not be accompanied by objective changes in sensation and strength of median-innervated structures in the hand.

According an article published by the Louisiana State University Health Sciences Center, Carpal tunnel syndrome is the most common entrapment neuropathy, which affected approximately 3 to 6% of adults in the general population in the last decade, in the United States. Although the cause is not usually determined, it can include trauma, repetitive maneuvers, certain diseases, and pregnancy.

Overall, the rising prevalence of this syndrome is expected to drive the growth of the market over the forecast period across the globe.

Scope of the Report

Carpal tunnel release is a surgery used to treat and potentially heal the painful condition known as carpal tunnel syndrome. A proper diagnosis of carpal tunnel syndrome is the primary reason to have a carpal tunnel surgery. Carpal tunnel release is generally an outpatient procedure, which means that one can go home the same day as the surgery if all goes well. There are two types of carpal tunnel release surgery i.e. open and endoscopic.

By Product Type
Open Carpal Tunnel Release System
Endoscopic Carpal Tunnel Release System
By End-User
Hospitals
Ambulatory Surgical Centres
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Ambulatory Surgical Centers show Lucrative Opportunity in the Global Carpal Tunnel Release Systems Market

Ambulatory care or outpatient care is medical care that is provided on an outpatient basis. Throughout the past few decades, surgery has been increasingly prioritized by the global health community or governments even in low- and middle-income countries. As a result, the number of surgical procedures has risen significantly, in order to address the global disease burden including that of carpal tunnel syndrome, thus leading to a rise in utilization and adoption of carpal tunnel release systems.

Over the past few years, with the move to value-based care, hospitals and healthcare systems are facing extreme competition from ambulatory service sites, particularly those which offer physician office-based procedures, and ambulatory surgery. Gaining in popularity across the globe, ambulatory surgery centers (ASCs) provide both operational and economic efficiencies, enabling ease of patient access, very competitive pricing, and increased opportunities for physician engagement. Thus, with the increasing number of carpal tunnel release surgeries, the studied market is expected to increase in the future.

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North America Dominates the Global Carpal Tunnel Release Systems Market

North American dominates the Carpal Tunnel Release Systems products market primarily due to high awareness regarding such health conditions. In addition, the rising prevalence of the condition is also fueling the market growth across the region.

According to the 2020 article, titled “Carpal Tunnel Syndrome” (Justin O. Sevy; Matthew Varacallo), in the United States, carpal tunnel syndrome has an incidence of 1 to 3 persons per 1000 per year, with a prevalence of 50 per 1000, with similar incidence and prevalence in most developed countries (2018). It most commonly affects whites, has up to a 10 to 1 predominance in females, and has a peak age of 46 to 60.

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Competitive Landscape

The global Carpal Tunnel Release Systems market is competitive and consists of a few major players. Companies like AM Surgical Inc., Arthrex, Inc., CONMED Corporation, Integra LifeSciences Corporation, Medical Designs, LLC, MicroAire Surgical Instruments, LLC., Smith & Nephew plc, Stryker Corporation, Trice Medical, among others, hold the substantial market share in the market.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing prevalence of Carpal Tunnel Syndrome (CTS)

      2. 4.2.2 Lower Procedure Costs and Improved Medical Reimbursement Coverage for CT Surgeries

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of awareness about the syndrome

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Open Carpal Tunnel Release System

      2. 5.1.2 Endoscopic Carpal Tunnel Release System

    2. 5.2 By End-User

      1. 5.2.1 Hospitals

      2. 5.2.2 Ambulatory Surgical Centres

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 AM Surgical Inc.

      2. 6.1.2 Arthrex, Inc.

      3. 6.1.3 CONMED Corporation

      4. 6.1.4 Integra LifeSciences Corporation

      5. 6.1.5 Medical Designs, LLC

      6. 6.1.6 MicroAire Surgical Instruments, LLC.

      7. 6.1.7 Smith & Nephew plc

      8. 6.1.8 Stryker Corporation

      9. 6.1.9 Trice Medical

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Carpal Tunnel Release Systems Market market is studied from 2018 - 2026.

The Carpal Tunnel Release Systems Market is growing at a CAGR of 4.9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Arthrex, Inc. , MicroAire Surgical Instruments, LLC. , Trice Medical , Smith & Nephew plc , Integra LifeSciences Corporation are the major companies operating in Carpal Tunnel Release Systems Market.

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