Thumb or carpometacarpal (CMC) joint arthritis is a common type of arthritis affecting the hands. In the patients with thumb arthritis, the cushion-like cartilage inside the CMC joint breaks down, causing the bones to rub against each other. Some of the common symptoms of the disease are inclusive of thumb joint pain, thumb base swelling, besides others. The prevalence of the thumb arthritis is increasing which is the major driver for the market growth. In 2016, according to a study published in the HAND (American Association for Hand Surgery) journal, the prevalence of the thumb CMC osteoarthritis was estimated to be around 8% to 12% in the general population.
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Moreover, growing geriatric and obese population along with the rising healthcare expenditure is estimated to boost the market growth during the forecast period. According to the World Health Organization in 2016, approximately more than 1.9 billion adults, were estimated to be overweight, accounting for 650 million obese people. Additionally, according to the World Health Organization, the world’s geriatric population is estimated to reach 2 billion by 2050 from 900 million in 2015. However, the high cost of the surgical therapeutics along with related complications is estimated to restrain the market growth during the forecast period. According to a study published in the Plastic and Reconstructive Surgery journal in 2016, the cost of therapeutic trapeziectomy with LRTI for a majority of the patients (89%) was estimated to be about around USD 2,576.
Key players in Global Thumb Arthritis Market:
The key players in the global thumb arthritis 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), and others.
World Thumb Arthritis Market Regional Analysis
The Americas dominate the global thumb arthritis market owing to a well-developed healthcare sector, growing geriatric population, and rising healthcare expenditure. According to the Population Reference Bureau in 2016, the Americas’ geriatric population is estimated to be more than double from 46 million to 98 million by 2060. Moreover, the presence of the developed economies like the U.S. and Canada within the region fuels the market growth.
Europe is the second largest thumb arthritis market. Availability of the funds for research and increasing surgery adoption rates followed by the growing patient population are the major drivers of the market growth within the region. Moreover, R&D expenses in the therapeutics of the disease by the local established players are fuelling the market growth during the forecast period.
Asia Pacific is the fastest growing region owing to the growing geriatric and obese population across the globe. According to the Australian Institute of Health and Welfare in 2018, the percentage of overweight or obese adults is approximately around 53% in Northern Sydney. Moreover, it was estimated that in 2011, around 5% of the total burden of the disease accounted for the same. Additionally, the presence of the developing economies like India and China within the region with expanding healthcare sector is estimated to fuel the market growth during the forecast period.
The Middle East & Africa holds the least share in the global thumb arthritis market. This can be accounted on the basis of the poor availability of the healthcare services and low per capita healthcare expenditures within the African region. On the other hand, the Middle East is estimated to be the fastest growing region during the projected period, 2017-2023.
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Major T.O.C Thumb Arthritis Market:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Diagnosis Trends & Assessment
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