The Thumb Arthritis Market is projected to reach USD 657.7 Million by 2030 at 8.5% CAGR during the forecast period 2022-2030.
Thumb arthritis is also known as carpometacarpal (CMC) joint arthritis. This is a common type of arthritis that affects the hands. The joint in the thumb is called the saddle joint. This is the breakdown of the cartilage in the CMC joint of the thumb which irritates the joints. The few symptoms of the disease are thumb joint pain, thumb base swelling, an enlarged or bony appearance of the joint at your thumb base, reduces strength when pinching or gripping other objects, and others. As the rise of humans age, the cartilage wears down which is the second-most common type of arthritis called degenerative arthritis. Lupus or Rheumatoid arthritis may also cause joints to break down.
If the saddle joint doesn’t let the thumb pivot, swivel, or grip things anymore is expected that arthritis is developing in the body. The previous injuries or fractures to the thumb may also cause arthritis to develop in the body. This condition needs the thumb arthritis test. The treatment of thumb arthritis involves a combination of medication and splints. The severe arthritis conditions to the thumb might require surgery. The affecting of arthritis is 10 to 20 times more in women above 50 years compared to men. The World Health Organization (WHO) report states that in 2016, nearly 1.9 billion adults were estimated to be overweight for 650 million obese people. And the geriatric population in 2015 is 900 million and is anticipated to reach 2 billion by 2050.
The COVID-19 outbreak is severely impacted all the business sectors across the globe. The coronavirus spread from one country to another and hit all the people’s lives. To curb the spread of the virus, various country’s governments are implemented stringent regulations like lockdowns, transportation bans, manufacturing industries shut down, public sectors off, etc. Due to the lockdowns, the manufacturing industries face a lot of issues like lack of raw material, shortage of manpower, supply chain disruptions, etc., lead to halting production.
The thumb arthritis market is also negatively impacted by the pandemic. As per the regulations of lockdown, people stay in their homes, and hospitals are filled with corona positive cases results in reducing the visiting to hospital for treating other diseases. Hence the demand for the thumb arthritis market is declined in the first two-quarters of the pandemic. After that, rapidly the growth of the market increases.
The growing prevalence of thumb arthritis is the major factor driving the thumb arthritis market growth. The rising geriatric and obese populations coupled with healthcare expenditure are expected to propel the growth of the market in the review period.
The surgical therapeutics related to thumb arthritis costs are very high and this surgery may occur a few complications which are restraining the market growth.
Increasing the investment in the research & development activities, introducing innovations in the treatment of thumb arthritis may create an opportunity to boost the market growth. Using biomarkers for identifying patients who can respond to specific medical therapies is expected to increase treatment response rates and reduce the risk of exposure to therapies which makes patients not affected by the side effects of treatment.
Lack of awareness among the people regarding the causes and symptoms of thumb arthritis is the major challenge of the market growth.
Study Objectives -
To provide detailed information about the thumb arthritis market structure along with various forecast segments and sub-segments for the next 7 years.
The global thumb arthritis market has been divided into five segments based on type, diagnosis, treatment, end-user, and region.
Based on Type
The thumb arthritis types are bifurcated into osteoarthritis thumb arthritis, rheumatoid thumb arthritis, and others.
Based on Diagnosis
The thumb arthritis market diagnosis is classified into various types as imaging, physical examinations, fine needle aspiration (FNA), and others.
Based on Treatment
The thumb arthritis treatment is categorized into a few types as thumb exercise, medication, surgery, and others.
Based on End-user
The thumb arthritis market by end-user is analyzed into a few types as research organizations, hospitals & clinics, retail pharmacies, and others. Among them, the hospitals & clinics segment is holding the largest share due to the high volume of patients visiting hospitals & clinics for the treatment of arthritis, and arthritis therapeutics are available in these pharmacies. Some hospitals provide reimbursements on hospital pharmacy purchases.
Based on Region
Region-wise, the global thumb arthritis market is divided into four main geographies like Asia-Pacific, Americas, Europe, and the Middle East & Africa. Out of these regions, the Americas is accounting for the largest market share due to a well-developed healthcare sector, increasing geriatric population, and rising healthcare expenditure.
Regional Analysis -
Geographically, the thumb arthritis market based on regions is segmented into four main regions as Americas, Asia-Pacific, Europe, and the Middle East & Africa. Among them, the Americas is holding the highest market share due to a growing geriatric population, well-developed healthcare sector, and increasing healthcare expenditure. The presence of developed economies like the U.S and Canada are propelling the market growth in this region.
Owing to the availability of funds for research and rising surgery adoption rates along with the increasing patient population, Europe is holding the second leading position in the market. Additionally, increasing R & D expenses in the therapeutics of the diseases by local players are enhancing the market growth in this region.
Due to the growing geriatric and obese population around the world, Asia-Pacific is witnessed to be the fastest-growing region. The presence of developing economies like India and China with expanding healthcare sector is fuelling the market growth in this region. Due to the poor availability of healthcare services and low per capita healthcare expenditures, the Middle East & Africa is holding the least market share.
The prominent key players in the thumb arthritis market outlook are the following:
This global thumb arthritis market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the market drivers, restraints, challenges, and opportunities. The Thumb Arthritis market forecast segments into five forms as type, diagnosis, treatment, end-user, and region.
The thumb arthritis market trends have been segmented into five forms globally based on the type, diagnosis, treatment, end-user, and region.
Osteoarthritis thumb arthritis, rheumatoid thumb arthritis, and others are a few types of the market.
Imaging, physical examinations, fine needle aspiration (FNA), and others are various diagnoses of the market.
Thumb exercise, medication, surgery, and others are a few types of treatments.
Research organizations, hospitals & clinics, retail pharmacies, and others are a few end-users.
Asia-Pacific, Europe, America, and the Middle East & Africa are the four main geographies included in the global market.
|Market Size||USD 657.7 Million|
|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||BioPro (U.S.), McKie Splints (U.S.), AbbVie Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Amgen Inc. (U.S.), Pfizer Inc. (U.S.), Carestream Health. (U.S.), General Electric Company (U.K), and others|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||