Carpal Tunnel Release Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Carpal Tunnel Release Systems Market Analysis
The carpal tunnel release systems market is projected to register a CAGR of 4.9% during the forecast period.
The COVID-19 pandemic had a significant impact on the growth of the market studied. According to a Clarity Medical article published in February 2022, carpal tunnel syndrome, dry eye syndrome, repetitive stress injuries, cervical spondylitis, and sleep disorders are common, affecting nearly 30% of those working from home for the first time. Thus, the high incidence of carpal tunnel syndrome during the pandemic had a significant impact on the market. As per an NCBI article published in August 2021, peripheral microangiopathy involving nerve supply, viral demyelination, or an immune-mediated irritating antigenic stimulus on synovial sheaths after COVID-19 infection may all induce a carpal, cubital, or tarsal tunnel syndrome of the variable entity in genetically predisposed subjects associated with myxoid nerve degeneration. According to the source mentioned above, carpal tunnel syndrome may result in reactive arthritis after COVID-19 infection recovery due to irritation and, in turn, requiring decompressive surgery. These factors are expected to have a significant impact on the market during the COVID-19 pandemic.
Carpal tunnel syndrome (CTS) is a collection of characteristic symptoms and signs following compression of the median nerve within the carpal tunnel. Factors driving the market's growth are the increasing prevalence of CTS, lower procedure costs, and improved medical reimbursement coverage for CT surgeries. According to an Up-to-date article published in August 2021, carpal tunnel syndrome is a common disorder with an estimated prevalence of 1% and 5% among the general population. CTS is more frequent in females, with a female-to-male ratio of 3 to 1. In a Mayo Clinic article published in February 2022, CTS is an entrapment neuropathy caused by compression of the median nerve as it travels through the wrist's carpal tunnel. It is the most common nerve entrapment neuropathy, accounting for 90% of all neuropathies. In the United States, CTS 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. Carpal tunnel syndrome does not cause mortality but can lead to irreversible median nerve damage, with severe loss of hand function, if not treated. Therefore, the prevalence of carpal tunnel syndrome among the global population is expected to contribute to the growth of the market.
However, a lack of awareness about CTS in developing nations and expensive surgical procedures are anticipated to impede the expansion of market participants.
Carpal Tunnel Release Systems Market Trends
This section covers the major market trends shaping the Carpal Tunnel Release Systems Market according to our research experts:
Open Carpal Tunnel Release System
Open carpal tunnel release systems are the commonly accepted methods. These systems are widely accepted as they enable direct visualization, the reliable vision of the flexor retinaculum, and the ability to identify anatomical variations. As per an NCBI article published in June 2022, CTS is the most frequently encountered compressive neuropathy, with a reported prevalence of 3.8% in the general population. Mini-open carpal tunnel release (MCTR) combines the advantages of single- or double-portal techniques and has been reported to have low complication rates. Open carpal tunnel release is preferred to avoid these complications after the surgery, thereby contributing to the growth of the segment studied.
According to the American Association for Hand Surgery, data published in 2021 in a study conducted by the association resulted that 34% of respondents favored a standard open (extensile) incision, 46% favored a mini-open incision, and 20% preferred an endoscopic approach. Thus, the preference for open carpal tunnel release systems by patients is expected to drive the segment's growth in the market. As per an NCBI article published in June 2022, even though this treatment allows for direct viewing, dependable flexor retinaculum separation, and the detection of anatomical differences, it also carries the risk of postoperative wound pain, scar sensibility, and pillar pain. The most frequently used approach is known as open carpal tunnel release (OCTR), and this trend is expected to accelerate the demand for open carpal tunnel release system procedures.
Therefore, factors such as the rising adoption of open carpal tunnel release systems and the efficacy of these systems are expected to drive the segment's growth during the forecast period.
Carpal Tunnel Release Systems Industry Overview
The global carpal tunnel release systems market is moderately competitive and consists of several 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 substantial market share.
Carpal Tunnel Release Systems Market Leaders
-
Arthrex, Inc.
-
MicroAire Surgical Instruments, LLC.
-
Trice Medical
-
Smith & Nephew plc
-
Integra LifeSciences Corporation
*Disclaimer: Major Players sorted in no particular order
Carpal Tunnel Release Systems Market News
- In April 2022, Sonex Health announced the commercial launch of its UltraGuideTFR device in the United States. This device is used in conjunction with real-time ultrasound guidance to perform trigger finger release (TFR) procedures.
- In March 2022, PAVmed Inc. reported that physicians at the Clinica Porto Azul in Barranquilla, Colombia, successfully implanted the Company's PortIO Intraosseous Infusion System in three patients as part of its IRB-approved first-in-human (FIH) clinical study of up to 40 patients.
Carpal Tunnel Release Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definitions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing prevalence of Carpal Tunnel Syndrome (CTS)
- 4.2.2 Lower Procedure Costs and Improved Medical Reimbursement Coverage for CT Surgeries
-
4.3 Market Restraints
- 4.3.1 Lack of awareness about the Syndrome
-
4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
-
5.1 By Product Type
- 5.1.1 Open Carpal Tunnel Release System
- 5.1.2 Endoscopic Carpal Tunnel Release System
-
5.2 By End User
- 5.2.1 Hospitals
- 5.2.2 Ambulatory Surgical Centres
- 5.2.3 Other End Users
-
5.3 By Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 AM Surgical Inc.
- 6.1.2 Arthrex Inc.
- 6.1.3 CONMED Corporation
- 6.1.4 Integra LifeSciences Corporation
- 6.1.5 Medical Designs LLC
- 6.1.6 MicroAire Surgical Instruments LLC
- 6.1.7 Smith & Nephew PLC
- 6.1.8 Stryker Corporation
- 6.1.9 Trice Medical
- 6.1.10 SEG Way Orthopaedics Inc.
- 6.1.11 Sonex Health LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityCarpal Tunnel Release Systems Industry Segmentation
As per the 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 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.
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 centers, other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Product Type | Open Carpal Tunnel Release System | |
| Endoscopic Carpal Tunnel Release System | ||
| By End User | Hospitals | |
| Ambulatory Surgical Centres | ||
| Other End Users | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Carpal Tunnel Release Systems Market Research FAQs
What is the current Carpal Tunnel Release Systems Market size?
The Carpal Tunnel Release Systems Market is projected to register a CAGR of 4.90% during the forecast period (2024-2029)
Who are the key players in Carpal Tunnel Release Systems Market?
Arthrex, Inc. , MicroAire Surgical Instruments, LLC. , Trice Medical , Smith & Nephew plc and Integra LifeSciences Corporation are the major companies operating in the Carpal Tunnel Release Systems Market.
Which is the fastest growing region in Carpal Tunnel Release Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Carpal Tunnel Release Systems Market?
In 2024, the North America accounts for the largest market share in Carpal Tunnel Release Systems Market.
What years does this Carpal Tunnel Release Systems Market cover?
The report covers the Carpal Tunnel Release Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Carpal Tunnel Release Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Carpal Tunnel Release Systems Industry Report
Statistics for the 2024 Carpal Tunnel Release Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Carpal Tunnel Release Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
