Market Scenario
Thoracic outlet syndrome is a
group of heterogeneous and disabling upper-extremity disorders that occur due
to extrinsic compression of neurovascular structures between the clavicle and
the first rib. There are three distinct types of thoracic outlet syndrome viz.
neurogenic thoracic outlet syndrome, venous thoracic outlet syndrome, and
arterial thoracic outlet syndrome. Neurogenic thoracic outlet syndrome is most
common, i.e., it constitutes around 85%-90% of thoracic outlet syndrome cases.
Venous thoracic outlet syndrome constitutes around 10%-15% of thoracic outlet
syndrome cases, whereas arterial thoracic outlet syndrome is found in 2%-5% of
thoracic outlet syndrome cases.
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Rising cases of trauma and car
accidents are boosting the growth of the thoracic outlet syndrome market. Chest
injury is one of the causes of thoracic outlet syndrome, and this comes about
as a result of traffic accidents in which the collarbone is broken, and the
upper ribs are injured. As per the World Health Organization (WHO) report, nearly
20-50 million people incur non-fatal injuries as a result of road traffic
accidents.
Other factors such as increasing
cases of anatomical defects, high unmet needs of current treatment, and surge
in the research and development expenditure, improvement in reimbursement
policies are also expected to drive the growth of the market. According to a
study published in the Current Issues in Pharmacy and Medical Sciences - De
Gruyter journal in 2015, it is found that bone abnormality may be a potential
cause of thoracic outlet syndrome. The most common bone abnormalities include
irregularities of the clavicle (20%), the cervical rib (70% of cases), and in
the different structures of the first rib (10%).
Despite these drivers, there are
some issues associated with thoracic outlet syndrome market. Lack of
infrastructure in the middle and low-income countries and side effects
associated with the drugs may hamper the growth of the market.
It is estimated that thoracic
outlet syndrome market is expected to grow at a CAGR 7.0% during the forecast
period of 2017-2023.
Research Methodology
Intended Audience
- Hospitals
- Diagnostic Clinics
- Research and Development
(R&D) Companies
- Government Research
Institute
- Academic Institutes and
Universities
Segmentation
The thoracic outlet syndrome
market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of type, the market
is segmented into neurogenic thoracic outlet syndrome, venous thoracic outlet
syndrome, and arterial thoracic outlet syndrome.
On the basis of diagnosis, the
market is segmented into nerve conduction studies, vascular studies, chest
X-ray, cervical spine X-rays, computed tomography (CT) scan, magnetic resonance
imaging (MRI), and magnetic resonance imaging with angiography (MRA), arteriogram/venogram,
and blood tests.
On the basis of treatment, the
market is segmented into surgery, medications, physical therapy, and others.
The medications segment is further classified into muscle relaxant,
thrombolytic medications, anticoagulant medications, and others.
On the basis of end-user, the
market is segmented into hospital & Clinics, diagnostic centers, academic
and research institutes, drug pharmacies, and others.
Regional Analysis
The Americas dominate the
thoracic outlet syndrome market owing to the rising awareness among people, and
increasing healthcare expenditure. As per the facts suggested by the Centers
for Disease Control and Prevention (CDC), out of the total annual healthcare
expenditure, 86% is for people with chronic health conditions in the United
States.
Europe holds the second position
in the thoracic outlet syndrome market. It is expected that the support
provided by government bodies for research & development and improvement in
reimbursement policies in healthcare will drive the market in Europe.
Asia Pacific is the fastest
growing in thoracic outlet syndrome market, owing to a huge patient pool,
developing healthcare technology, and rising healthcare expenditure in some
countries within this region. According to the Australian Institute of Health
and Welfare, in the years 2015 to 2016, the total health expenditure was USD
170.4 billion, which is 3.6% higher than the expenditure of 2014–15.
The Middle East & Africa has
the lowest market for thoracic outlet syndrome due to lack of technical
knowledge and poor medical facilities.
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Key Players
Some of key the players in the
market are Abbott Laboratories, Bayer AG, Boehringer Ingelheim, Bristol-Myers
Squibb, Daiichi Sankyo, Endo Pharmaceuticals, Inc., Johnson & Johnson
Services, Inc., Mallinckrodt plc., Orient Pharma Co., Ltd., Par Sterile
Products, LLC., Sanofi, SteriMax Inc., Upsher Smith Laboratories, Inc.,
Vertical Pharmaceuticals LLC, and others.
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