ID: MRFR/MED/4100-HCR | 85 Pages | Published By Rahul Gotadki on March 2023
The thoracic outlet syndrome market size is expected to grow at a CAGR of 7% within the forecast period globally. A thoracic outlet syndrome is a group of disorders that cause pain in the shoulder, neck, and arms, numbness, and creeping sensation of the fingers. The thoracic outlet is the space between the collar bone and the first rib. The thoracic outlet syndrome is caused due to the compression of the blood vessel in the thoracic outlet. The injuries caused because of the sports-related problem, anatomical defects, tumors in the chest, damage in the shoulder or neck, and obesity are the common causes of thoracic outlet syndrome. The three types of thoracic outlet syndromes are neurogenic, vascular, and non-specific. Treatment of thoracic outlet syndrome market includes therapeutic drugs such as anti-inflammatory drugs, muscle relaxants, and anti-coagulation drugs. When medicine therapy does not improve the condition of thoracic outlet syndrome, surgical treatments are performed to cure them. Neurogenic thoracic outlet syndrome is most common, i.e., it adds up around 85%-90% of thoracic outlet syndrome cases. Venous thoracic outlet syndrome adds up around 10%-15% of thoracic outlet syndrome cases, whereas arterial thoracic outlet syndrome is found in 2%-5% of cases. This provides a clear picture of Thoracic Outlet Syndrome Market Outlook.
The covid-19 outbreak has affected the majority of the world’s population resulting in a worldwide economic downfall, which resulted in a global recession. The thoracic outlet syndrome treatment market has been damaged in a variety of ways; as the covid cases increased rapidly, it had a detrimental impact on the thoracic outlet syndrome treatment market. Merchants feel pressurized to prioritize their business by replacing required goods. Thoracic outlet syndrome treatment market remained closed as the restriction for global shutdown tightened. When the markets return to a normal pace in a number of countries, supply chain issues emerge.
Chief Factors Existing In The Market
Rise in commonness of lung injuries, lung tumors, congestive heart failure, and lymph or blood vessel blockage. According to the World health organization, lungs are very vulnerable to infection and injury from the external environment of constant exposure of particles, chemicals, and infectious organisms in the open air. At least 2 million people are exposed to toxic smoke of biomass fuel globally, which is burned inefficiently in poorly ventilated indoor stoves or fireplaces. The most common lethal neoplasm globally is lung cancer, which is responsible for around 1.6 million deaths each year and still counting. According to the world heart federation, the commonness of heart failure is increasing globally to an estimated number of 26 million. The second driving feature is a rise in the commonness of pleural effusion. This Dyspnea is the most common symptom of pleural effusion. Pleural effusion is a highly common disease among all pleural diseases and affects almost a 1.5million people in the U.S each year.
The high cost related to the treatment is the major drawback for the thoracic outlet syndrome treatment market share, and the lack of infrastructure in low-income countries will hamper the thoracic outlet syndrome treatment market growth rate. The complications involved with thoracic outlet syndrome will hamper the thoracic outlet syndrome market value. Many people are not ready to get a complicated procedure treatment, which is the biggest challenge for the market.
The thoracic outlet syndrome market is owing to a huge patient pool which can be a perk for the market as more people are getting treated; it helps in the rise of economic growth globally. The proper development of healthcare technology results in more people interested in treatment can provide great scope to the thoracic outlet syndrome market.
Of course, when the healthcare technology gets developed, there will be a rise in healthcare expenditure which provides scope to the market.
Less awareness about thoracic outlet syndrome will further restrain the thoracic outlet syndrome market forecast period. Less knowledge about the treatment makes the market vulnerable to lose. Lack of trained and skilled professionals is also a restraining factor of the thoracic outlet syndrome market.
Cumulative Evaluation Of The Market
Several changes seen in the market can be assessed later for a better understanding of the market strategy. The thoracic outlet syndrome is significantly growing due to the accidents taking place across the world. Chest injuries where collar bone and ribs get severely impacted give rise to the thoracic syndrome. Some other anatomical defects can be considered as well as to understand the growth for this market as well.
The thoracic outlet syndrome market is divided on the basis of type, diagnosis, treatment, and end-user.
According to the Thoracic Outlet Syndrome Market Analysis, the Americas dominate the thoracic outlet syndrome market due to increased awareness among the people and increasing healthcare expenditure. As per the facts suggested by the Centers for Disease Control and Prevention, out of the total annual healthcare expenditure, 86% is for the population with chronic health conditions in from the United States.
Europe has the second rank in the thoracic outlet syndrome market. It is expected that the support provided by government bodies for research & development and improvement in the repaying policies in healthcare will operate the market in Europe.
The Asia Pacific is the fastest growing in the thoracic outlet syndrome market, owing to a huge patient pool, development of healthcare technology, and rising healthcare expenditure in some countries within the region. In the years 2015 to 2016, according to the Australian Institute of Health and Welfare, the total health expenditure was USD 170.4 billion, which is 3.6% higher than the expenditure in 2014–15.
The Middle East & Africa has the lowest rank in the market for thoracic outlet syndrome due to lack of technical knowledge, unskilled professional, less awareness and poor medical facilities.
Competitive Intensity Within The Industry
Thoracic outlet syndrome market provides a detailed competitive landscape about the competitors. The detail includes company overview, company financials, market potential, revenue generated, investment in research and development, new market initiatives, revenue generated global presence, production sites and facilities, clinical trials pipelines, product approvals, patents, product width and breadth, company strengths and weaknesses, product launch, application dominance, technology lifeline curve.
Some of the major key players operating in the thoracic outlet syndrome market trends are Piramal Critical Care, Pfizer Inc., Validus Pharmaceuticals LLC, GlaxoSmithKline plc, Novartis AG, Sanofi, Abbott, Bristol-Myers Squibb Company, Bayer AG, F. Hoffmann-La Roche Ltd., Mallinckrodt, Johnson & Johnson Private Limited, Endo International plc, Boehringer Ingelheim International GmbH., Apotex Inc., Mylan N.V., Allergan, Takeda Pharmaceutical Company Limited., Oriental Pharma, and DAIICHI SANKYO COMPANY, LIMITED and others.
Recent Market Developments
The thoracic outlet syndrome market developed advanced technology for the treatment, hired skilled professionals, increased the revenue for the treatment; after post covid, the growth of this market has increased. Some of the regions that we're unaware of the disease are now aware of the disease and its treatment.
This report contains the market overview, covid-19 analysis and how it affects the market, the key drivers, the market opportunities, the key drivers, the challenges that the market face, the market restraints, the market segmentation, the regional analysis, market outlook, the competitive landscape, report overview and recent development of the market.
Key Industrial Segments
By Distribution Channel
The Asia Pacific
Middle East & Africa
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Diagnosis, Treatment, and End-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||
|Key Market Drivers||
Thoracic outlet syndrome market CAGR would be 7% during the forecast period.
North America would dominate the thoracic outlet syndrome market.
The treatment types discussed in the thoracic outlet syndrome market report are medications, physical therapy, surgery, and others.
Europe is the second-largest thoracic outlet syndrome market region.
The players discussed in the thoracic outlet syndrome market are Bayer AG, Boehringer Ingelheim, Bristol-Myers Squibb, Abbott Laboratories, Upsher Smith Laboratories, Inc., Endo Pharmaceuticals, Inc., Johnson & Johnson Services, Inc., Daiichi Sankyo, Orient Pharma Co., Ltd., Par Sterile Products, LLC., Mallinckrodt plc., SteriMax Inc., Sanofi, Vertical Pharmaceuticals LLC, and others.