Carpal Tunnel Release Systems Market - Forecast(2024 - 2030)

Report Code: HCR 1444 Report Format: PDF + Excel

Carpal Tunnel Release Systems Market Overview

Carpal Tunnel Release Systems Market size is estimated at $654.3 million in 2020, projected to grow at a CAGR of 5.1% during the forecast period 2021-2026. The Carpel Tunnel is a short, narrow tunnel that forms on the palm side of the wrist. If there is too much pressure on the wrist or the median nerve compression, the tunnel forms. On the basis of product form and end-users, there are various variations in the market for carpel tunnel release. Endoscopic CTR systems and open CTR systems are the other product types, while specialist clinics, ambulatory surgical centres, and hospitals are the end-users. The carpal bones, or tiny wrist bones, produce it, which is about an inch long. It is responsible for the bending function of the thumb and the rest of the finger, as well as protecting the flexor tendons and median nerve compression. The growth of the Carpal Tunnel Release Systems Industry owes towards the growing demand for minimally invasive endoscopic surgeries have been encouraged to develop innovative surgical technology by manufacturers of medical devices. Sonex Health, for instance, recently released the SX-One MicroKnife, which allows for ultrasound-guided carpal tunnel release through a single micro-incision. STRATOSTM is a new product from A.M. Surgical, Inc. that operates independently to validate key anatomy and is fully covered over the length of the cannula before being published. The global demand for carpal tunnel release (CTR) systems is expected to be driven by increased awareness among patients suffering from carpal tunnel syndrome about carpal tunnel surgeries.

Carpal Tunnel Release Systems Market Report Coverage

The report: “Carpal Tunnel Release Systems Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Carpal Tunnel Release Systems Market.
By Product Type: Open Carpal Tunnel Release System and Endoscopic Carpal Tunnel Release System.
By End User: Hospitals, Ambulatory Surgical Centres and Specialty Clinics.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

  • The demand for carpal tunnel release systems is expected to increase as the number of carpal tunnel surgeries increases, particularly in developed countries.
  • Geographically, North America Carpal Tunnel Release Systems Market held the largest revenue share of 38% in 2020 owing to the involvement of potential players who are developing innovative therapies, and more government schemes and investments in healthcare. In the final report, the scope of the Carpal Tunnel Release Systems Market for various regions will be given.
  • Carpal tunnel syndrome (CTS) is becoming more prevalent among industrial workers, which is driving up sales of carpal tunnel release systems.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Carpal Tunnel Release Systems Market.

Carpal Tunnel Release Systems Market Segment Analysis - By Product Type:

Based on Product Type, Carpal Tunnel Release Systems Market is segmented into Open Carpal Tunnel Release System and Endoscopic Carpal Tunnel Release System. Open Carpal Tunnel Release System accounted for the largest revenue market share in 2020. In patients with idiopathic CTS, open carpal tunnel release (CTR) has been considered the surgical treatment of choice for decompression of the median nerve at the wrist. The transverse carpal ligament is cut during open carpal tunnel release surgery, which relieves pressure on the median nerve compression and relieves carpal tunnel syndrome symptoms driving the Carpal Tunnel Release Systems Industry. Endoscopic Carpal Tunnel Release System segment is anticipated to grow with the fastest CAGR of 5.9% in the forecast period 2021-2026 owing to a minor incision, a shortened healing time, and a high degree of patient satisfaction, endoscopic carpal tunnel release (ECTR) is said to be associated with minimal pain and scarring. Endoscopic CTR seems to have the same long-term outcomes as open CTR, according to current literature drives the Carpal Tunnel Release Systems industry growth. Endoscopic CTR systems are expected to gain popularity in the near future, in response to the growing demand for minimally invasive endoscopic surgeries. For instance, In February, 2019, Trice Medical launched The Seg-WAY system, which is a minimally invasive approach to carpal tunnel release that can speed up recovery and enables to get back to normal activities sooner thereby driving the Carpal Tunnel Release Systems Industry

Carpal Tunnel Release Systems Market Segment Analysis – By End User:

Based on End User, Carpal Tunnel Release Systems Market is segmented into Hospitals, Ambulatory Surgical Centres and Specialty Clinics. Ambulatory Surgical Centers accounted for the largest revenue market share in 2020. Ambulatory care, also known as outpatient care, is medical care that is given outside of a hospital setting. Surgical procedures have become increasingly important to the global health community and governments in recent decades, including in low- and middle-income countries. As a result, the number of surgical procedures performed to resolve the global disease burden, including carpal tunnel syndrome, has increased dramatically, leading to an increase in the use and adoption of carpal tunnel release systems. Ambulatory surgery centres (ASCs) are gaining in popularity around the world because they offer both operational and economic efficiencies, allowing for easy patient access, very favourable pricing, and more opportunities for physician participation. As a result of the number of carpal tunnel release surgeries, the market is expanding. Hospital segment is anticipated to grow with the fastest CAGR of 5.2% during the forecast period 2021-2026 owing towards the lower procedure costs and improved medical reimbursement coverage for CT surgeries thus enhancing the Carpal Tunnel Release Systems Industry. Also, manufacturers are focusing more on collaborating with hospitals for promotion in order to expand their regional presence is driving the segment growth.

Carpal Tunnel Release Systems Market Segment Analysis - By Geography:

Based on Geography, North America Carpal Tunnel Release Systems Market accounted for the 38% revenue share in 2020 is attributed towards the increasing healthcare awareness. Furthermore, the increasing prevalence of the disease and endoscopic surgery is accelerating market expansion across the region. The ageing population, along with the government investments and major market players rising healthcare investments is driving the Carpal Tunnel Release Systems Industry. According to a study released by the Louisiana State University Health Sciences Centre, carpal tunnel syndrome is the most prevalent entrapment neuropathy in the United States, affecting 3% to 6% of the adult population in the last decade. Trauma, repeated manoeuvres, certain conditions, and pregnancy are all possible causes, but they are seldom identified driving regional growth. Asia-Pacific is predicted to be the fastest-growing region during the forecast period 2021- 2026 owing towards government initiatives and an increase in the number of research partnerships.

Carpal Tunnel Release Systems Market: Market Share (%) by Region, 2020



Carpal Tunnel Release Systems Market Drivers

Increasing Prevalence Of Carpal Tunnel Syndrome (CTS):

According to a 2020 report titled Carpal Tunnel Syndrome, carpal tunnel syndrome affects 1 to 3 people per 1000 people per year in the United States, with a prevalence of 50 people per 1000, with equal incidence and prevalence in other developing countries (2018). It mostly affects whites, with a female predominance of up to 10 to 1, and a peak age of 46 to 60 has accelerated the industry's growth. Demand is largely emerging from the United States, Germany, the United Kingdom, and Australia. In Germany, for instance, approximately 5,00,000 carpal tunnel syndrome surgeries are performed each year. The rising number of carpal tunnel surgical procedures can be attributed to improved emergency rooms and lower costs aiding towards the Carpal Tunnel Release Systems Market.

The Surgical Procedures That Are Efficient And Evolved Adoption Of Carpal Tunnel Release Systems Is Gaining Traction:

Owing to the lower healthcare costs and improved medical reimbursement coverage, there has been a rise in outpatient carpal tunnel surgeries. The availability of safe and reliable products for CTR procedures has increased demand for carpal tunnel endoscopic surgeries. Carpal tunnel release device suppliers are working with contract manufacturing companies to produce effective goods that meet treatment needs. While open surgical procedures for carpal tunnel release were historically the most cost-effective, the reliability and lower risk associated with endoscopic procedures has led to increased investment in this process, with major players such as Stryker Corporation and Arthrex introducing their own endoscopic carpal tunnel release systems stimulated the growth of the market.

Carpal Tunnel Release Systems Market Challenges

Stringent Regulation

Strict regulatory requirements and a shortage of standardization resources in some developed and developing countries are two major factors that are expected to stifle the target market's growth. Additionally, increasing research and development costs, as well as higher costs associated with product manufacturing and low knowledge among the elderly, all hinder Carpal Tunnel Release Systems industry.

Carpal Tunnel Release Systems Market Landscape:

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Carpal Tunnel Release Systems Market.  Carpal Tunnel Release Systems Market top 10 companies are Stryker Corporation, Medical Designs, LLC, MicroAire Surgical Instruments, LLC, Arthrex, Inc., Trice Medical, Smith & Nephew plc, Innomed, Inc., AM Surgical Inc., CONMED Corporation, and Integra LifeSciences Corporation.

Acquisitions/Product Launches:

  • In November, 2020, Stryker Corporation acquired Wright Medical Group N.V. This acquisition strengthens global market share in trauma and extremities, opening up new avenues for innovation and expanding our patient base.

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1. Carpal Tunnel Release Systems Market - Overview
    1.1 Definitions and Scope
2. Carpal Tunnel Release Systems Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends by Product Type
    2.3 Key trends by End User
    2.4 Key trends by Geography
3. Carpal Tunnel Release Systems Market - Comparative Analysis
    3.1 Product Benchmarking – Key Companies  
    3.2 Financial Analysis– Key Companies
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis- Average Selling Price
4. Carpal Tunnel Release Systems Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Carpal Tunnel Release Systems Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Carpal Tunnel Release Systems Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Carpal Tunnel Release Systems Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Carpal Tunnel Release Systems Market – By Product Type (Market Size –$Million/$Billion)
    8.1 Open Carpal Tunnel Release System
    8.2 Endoscopic Carpal Tunnel Release System
9. Carpal Tunnel Release Systems Market – By End User (Market Size –$Million/$Billion)
    9.1 Hospitals
    9.2 Ambulatory Surgical Centers
    9.3 Others
10. Carpal Tunnel Release Systems Market -  By Geography (Market Size –$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 U.K.
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Russia
        10.2.7 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 India
        10.3.3 Japan
        10.3.4 South Korea
        10.3.5 Australia & New Zealand
        10.3.6 Rest of Asia-Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Carpal Tunnel Release Systems Market - Entropy
12. Carpal Tunnel Release Systems Market – Industry/Segment Competition Landscape      Premium 
    12.1 Market Share Analysis
        12.1.1 Global Market Share – Key Companies
        12.1.2 Market Share by Region – Key companies
        12.1.3 Market Share by Countries – Key Companies
        12.1.4 Best Practices for Companies
13. Carpal Tunnel Release Systems Market – Key Company List by Country Premium  Premium
14. Carpal Tunnel Release Systems Market Company Analysis
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global Competition Analysis Market 2023-2030 ($M)
2.Global Carpal Tunnel Release Systems Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
2.1 By Product Type, Market 2023-2030 ($M) - Global Industry Research
2.1.1 Open CTR Systems Market 2023-2030 ($M)
2.1.2 Endoscopic CTR Systems Market 2023-2030 ($M)
2.2 By Product Type, Market 2023-2030 ($M) - Global Industry Research
3.Global Carpal Tunnel Release Systems Market Analysis and Forecast , By End User Market 2023-2030 ($M)
3.1 By End User, Market 2023-2030 ($M) - Global Industry Research
3.1.1 Hospitals Market 2023-2030 ($M)
3.1.2 Ambulatory Surgical Centers Market 2023-2030 ($M)
3.1.3 Specialty Clinics Market 2023-2030 ($M)
3.2 By End User, Market 2023-2030 ($M) - Global Industry Research
4.Global Competition Analysis Market 2023-2030 (Volume/Units)
5.Global Carpal Tunnel Release Systems Market Analysis and Forecast , By Product Type Market 2023-2030 (Volume/Units)
5.1 By Product Type, Market 2023-2030 (Volume/Units) - Global Industry Research
5.1.1 Open CTR Systems Market 2023-2030 (Volume/Units)
5.1.2 Endoscopic CTR Systems Market 2023-2030 (Volume/Units)
5.2 By Product Type, Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Carpal Tunnel Release Systems Market Analysis and Forecast , By End User Market 2023-2030 (Volume/Units)
6.1 By End User, Market 2023-2030 (Volume/Units) - Global Industry Research
6.1.1 Hospitals Market 2023-2030 (Volume/Units)
6.1.2 Ambulatory Surgical Centers Market 2023-2030 (Volume/Units)
6.1.3 Specialty Clinics Market 2023-2030 (Volume/Units)
6.2 By End User, Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Competition Analysis Market 2023-2030 ($M)
8.North America Carpal Tunnel Release Systems Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
8.1 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
8.1.1 Open CTR Systems Market 2023-2030 ($M)
8.1.2 Endoscopic CTR Systems Market 2023-2030 ($M)
8.2 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
9.North America Carpal Tunnel Release Systems Market Analysis and Forecast , By End User Market 2023-2030 ($M)
9.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Hospitals Market 2023-2030 ($M)
9.1.2 Ambulatory Surgical Centers Market 2023-2030 ($M)
9.1.3 Specialty Clinics Market 2023-2030 ($M)
9.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
10.South America Competition Analysis Market 2023-2030 ($M)
11.South America Carpal Tunnel Release Systems Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
11.1 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Open CTR Systems Market 2023-2030 ($M)
11.1.2 Endoscopic CTR Systems Market 2023-2030 ($M)
11.2 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
12.South America Carpal Tunnel Release Systems Market Analysis and Forecast , By End User Market 2023-2030 ($M)
12.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
12.1.1 Hospitals Market 2023-2030 ($M)
12.1.2 Ambulatory Surgical Centers Market 2023-2030 ($M)
12.1.3 Specialty Clinics Market 2023-2030 ($M)
12.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
13.Europe Competition Analysis Market 2023-2030 ($M)
14.Europe Carpal Tunnel Release Systems Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
14.1 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
14.1.1 Open CTR Systems Market 2023-2030 ($M)
14.1.2 Endoscopic CTR Systems Market 2023-2030 ($M)
14.2 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
15.Europe Carpal Tunnel Release Systems Market Analysis and Forecast , By End User Market 2023-2030 ($M)
15.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
15.1.1 Hospitals Market 2023-2030 ($M)
15.1.2 Ambulatory Surgical Centers Market 2023-2030 ($M)
15.1.3 Specialty Clinics Market 2023-2030 ($M)
15.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
16.APAC Competition Analysis Market 2023-2030 ($M)
17.APAC Carpal Tunnel Release Systems Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
17.1 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
17.1.1 Open CTR Systems Market 2023-2030 ($M)
17.1.2 Endoscopic CTR Systems Market 2023-2030 ($M)
17.2 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
18.APAC Carpal Tunnel Release Systems Market Analysis and Forecast , By End User Market 2023-2030 ($M)
18.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
18.1.1 Hospitals Market 2023-2030 ($M)
18.1.2 Ambulatory Surgical Centers Market 2023-2030 ($M)
18.1.3 Specialty Clinics Market 2023-2030 ($M)
18.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
19.MENA Competition Analysis Market 2023-2030 ($M)
20.MENA Carpal Tunnel Release Systems Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
20.1 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
20.1.1 Open CTR Systems Market 2023-2030 ($M)
20.1.2 Endoscopic CTR Systems Market 2023-2030 ($M)
20.2 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
21.MENA Carpal Tunnel Release Systems Market Analysis and Forecast , By End User Market 2023-2030 ($M)
21.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
21.1.1 Hospitals Market 2023-2030 ($M)
21.1.2 Ambulatory Surgical Centers Market 2023-2030 ($M)
21.1.3 Specialty Clinics Market 2023-2030 ($M)
21.2 By End User, Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
2.Canada Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
3.Mexico Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
4.Brazil Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
5.Argentina Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
6.Peru Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
7.Colombia Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
8.Chile Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
9.Rest of South America Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
10.UK Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
11.Germany Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
12.France Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
13.Italy Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
14.Spain Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
15.Rest of Europe Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
16.China Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
17.India Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
18.Japan Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
19.South Korea Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
20.South Africa Carpal Tunnel Release Systems Revenue Projections 2019 Market Revenue, 2023-2030 ($M)
21.North America Carpal Tunnel Release Systems Revenue Projections 2019 By Application
22.South America Carpal Tunnel Release Systems Revenue Projections 2019 By Application
23.Europe Carpal Tunnel Release Systems Revenue Projections 2019 By Application
24.APAC Carpal Tunnel Release Systems Revenue Projections 2019 By Application
25.MENA Carpal Tunnel Release Systems Revenue Projections 2019 By Application