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Thoracic Outlet Syndrome Market Analysis

ID: MRFR//4100-HCR | 85 Pages | Author: Rahul Gotadki| June 2024

The Thoracic Outlet Syndrome (TOS) treatment market has been witnessing significant growth in recent years as awareness about this condition continues to rise, and advancements in medical technology contribute to more effective treatment options. Thoracic Outlet Syndrome is a medical condition characterized by compression of the nerves and blood vessels in the thoracic outlet, leading to various symptoms such as pain, numbness, and weakness in the upper extremities. The market for TOS treatment is driven by an increasing number of diagnosed cases, improved diagnostic techniques, and a growing demand for minimally invasive treatment options.

One of the key factors contributing to the growth of the Thoracic Outlet Syndrome treatment market is the rising prevalence of this condition. As awareness about TOS increases among both healthcare professionals and the general population, more cases are being diagnosed and treated. This heightened awareness has led to a surge in demand for effective and advanced treatment options, propelling the growth of the market. Moreover, the aging population, coupled with the increasing incidence of lifestyle-related risk factors, has further fueled the prevalence of Thoracic Outlet Syndrome.

Advancements in diagnostic techniques have played a crucial role in the expansion of the TOS treatment market. Improved imaging technologies, such as magnetic resonance imaging (MRI) and computed tomography angiography (CTA), enable more accurate and timely diagnosis of Thoracic Outlet Syndrome. Early and precise diagnosis is essential for effective management and treatment of TOS, driving the adoption of these advanced diagnostic tools and subsequently boosting the growth of the market.

The market for Thoracic Outlet Syndrome treatment is characterized by a diverse range of therapeutic options. Conventional treatments include physical therapy, pain management, and medications to alleviate symptoms. However, the increasing demand for minimally invasive procedures has led to the development of innovative treatment modalities such as thoracic outlet decompression surgery. This surgical approach aims to relieve compression on nerves and blood vessels, offering a more permanent solution for patients with severe symptoms. The availability of various treatment options caters to the diverse needs of patients, contributing to the overall expansion of the TOS treatment market.

Geographically, North America and Europe dominate the Thoracic Outlet Syndrome treatment market, primarily due to the well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced medical technologies in these regions. However, emerging economies in Asia-Pacific and Latin America are expected to witness significant growth in the market as healthcare awareness increases and healthcare infrastructure improves.

Thoracic Outlet Syndrome Market Overview


Global thoracic outlet syndrome market size was valued at USD 0.73 billion in 2022. The thoracic outlet syndrome market industry is projected to grow from USD 0.79 billion in 2023 to USD 1.41 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.01% during the forecast period (2023 - 2032). 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.Ā 


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 ofĀ thoracic outlet syndrome marketĀ 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 ofĀ Thoracic Outlet Syndrome Market Outlook.


Covid-19 analysis


The covid-19 outbreak has affected the majority of the worldā€™s population resulting in a worldwide economic downfall, which resulted in a global recession. TheĀ thoracic outlet syndrome treatment marketĀ 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.Ā Thoracic outlet syndrome treatment marketĀ 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 MarketĀ 



  • Key Market Drivers


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.Ā Ā 



  • Market Challenges


The high cost related to the treatment is the major drawback for theĀ thoracic outlet syndrome treatment market share, and the lack of infrastructure in low-income countries will hamper theĀ thoracic outlet syndrome treatment marketĀ growthĀ rate. The complications involved with thoracic outlet syndrome will hamper theĀ thoracic outlet syndrome market value. Many people are not ready to get a complicated procedure treatment, which is the biggest challenge for the market.



  • Market Opportunities


TheĀ thoracic outlet syndrome marketĀ 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 theĀ 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.



  • Market Restraints


Less awareness about thoracic outlet syndrome will further restrain theĀ thoracic outlet syndrome market forecastĀ period. Less knowledge about the treatment makes the market vulnerable to lose. Lack of trained and skilled professionals is also a restraining factor of theĀ 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.


Market SegmentationĀ 


TheĀ thoracic outlet syndrome marketĀ is divided on the basis of type, diagnosis, treatment, and end-user.



  • Under the basis of type, the market Thoracic Outlet Syndrome Market is divided into neurogenic thoracic outlet syndrome, venous thoracic outlet syndrome, and arterial thoracic outlet syndrome.

  • Under the basis of diagnosis, the market is divided into nerve conduction studies, vascular studies, chest X-ray, cervical spine X-rays, magnetic resonance imaging, computed tomography scan, and magnetic resonance imaging with angiography, arteriogram/venogram, and blood tests.

  • Under the basis of treatment, the market is divided into surgery, medications, physical therapy, and others. The medications segment is further classified into muscle relaxants, thrombolytic medications, anticoagulant medications, and others.

  • Under the basis of end-user, the market is divided into hospitals & clinics, diagnostic centers, academic and research institutes, drug pharmacies, and others.


Regional Analysis


According to theĀ Thoracic Outlet Syndrome Market Analysis, the Americas dominate theĀ thoracic outlet syndrome marketĀ 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 theĀ 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 inĀ 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 2014ā€“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 theĀ thoracic outlet syndrome marketĀ trendsĀ 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.,Ā Apotex Inc., Mylan N.V., Allergan, Takeda Pharmaceutical Company Limited., Oriental Pharma, and DAIICHI SANKYO COMPANY, LIMITED and others.


Recent Market Developments


TheĀ thoracic outlet syndrome marketĀ 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.


Report Overview


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 Type



  • Neurogenic

  • Venous

  • Arterial Thoracic Outlet Syndrome


Diagnosis



  • CT Scan

  • Mri Scan

  • Blood Tests

  • Arteriogram


By Treatment



  • Non-steroidal Anti-Inflammatory Drugs (NSAID)

  • Skeletal Muscle Relaxants

  • Anticoagulants

  • Botulinum Toxin Therapeutics


Treatment



  • Surgery

  • Medication


By Distribution Channel



  • Hospital Pharmacies

  • Retail Pharmacies

  • Online Pharmacies


By Region


North America



  • the U.S.

  • Canada


Europe



  • Germany

  • France

  • the U.K.

  • Italy

  • Spain

  • Rest of Europe


TheĀ Asia Pacific



  • China

  • Japan

  • India

  • Australia & New Zealand

  • Rest of Asia Pacific


Latin America



  • Brazil

  • Mexico

  • Rest of Latin America


Middle East & Africa



  • GCC Countries

  • South Africa

  • Rest of Middle East & Africa

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