Market Highlights
Carpal tunnel syndrome is the most common entrapment neuropathy and affects all the age group. It is estimated that 3%-6% adult population is affected with the disease. The cubital tunnel is an area on the inner elbow through which the ulnar nerve passes. It is caused by compression of the nerve and may also be known as ulnar nerve compression. Increasing geriatric population drives the global cubital tunnel syndrome market. Moreover, government initiatives for research & development, rising demand for the better treatment, and changing lifestyle habits have fuelled the growth of the market. The prevalence of orthopedic diseases has increased due to a sedentary lifestyle and poor diet, which is also contributing to the growth of the market. On the other hand, the high cost of treatment and lack of awareness may restrain the market.
The global cubital tunnel syndrome market is expected to grow at a CAGR of 5.6% during the forecast period.
Regional Analysis
The Americas commands the major share of the market owing to the large patient population, huge geriatric population, strong government support for research & development, and high healthcare spending. According to the Population Reference Beurau, the number of Americans ages 65 and over is projected to more than double from 46 million in 2016 to over 98 million by 2060. Moreover, changing lifestyle and poor diet has fuelled the growth of the market.
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Europe is the second leading region in global cubital tunnel syndrome market, which is followed by Asia Pacific. Asia Pacific is the fastest growing cubital tunnel syndrome market. According to the WHO in 2015, Asia's elderly population is projected to reach nearly 923 million by 2050. China and India contribute a major share to the growth of the Asia Pacific market due to presence of huge patient population. Furthermore, rapidly increasing geriatric population, and presence of huge opportunities and continuous development in the healthcare sector have fueled the market growth for the cubital tunnel syndrome.
The Middle East and Africa contributes less to the market of global cubital tunnel syndrome market. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East and African market. Africa holds the least share of the global market due to limited availability of medical facilities and poor economic condition. However, the growth of the African market is high due to presence of opportunities for the development of the market.
Segmentation
The global cubital tunnel syndrome market is segmented on the basis of causes, treatment, and end users.
On the basis of causes, the market is segmented into injury, noncancerous fatty tumors, bone tumors, inflammation, and others.
On the basis of treatment, the market is segmented into diagnosis & therapy. The diagnosis is further segmented into nerve compression tests, X-ray, electrodiagnostic studies, MRI, and others. The therapy is further segmented into nonoperative, and operative. Non operative is further classified into NSAIDs and steroids.
On the basis of end users, the market is segmented into hospital, retail pharmacy, and other.
Key Players
Some of the major key players in the global cubital tunnel syndrome market: Eli Lily and Company (US), GlaxoSmithKline PLC (UK), Pfizer Inc., Depomed Inc., Novartis International AG (Switzerland), Johnson & Johnson Services Inc. (US), Bristol-Myers Squibb and Company (US), Sanofi S.A. (France), Debiopharm Group (Switzerland), Baxter Healthcare Corporation (US), Biogen Idec Inc. (US), Amneal Pharmaceuticals LLC. (US), and Amgen, Inc. (US).
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