Global Lateral Epicondylitis (Tennis Elbow) Market to Reach Worth USD 10,582.1 Mn by 2022: Rising Prevalence of the Condition to Determine Market Growth
According to the latest report published by Credence Research, Inc. “Lateral Epicondylitis (Tennis Elbow): Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the Lateral Epicondylitis (Tennis Elbow) market was valued at USD 8,104.0 Mn in 2015, and is expected to reach USD 10,582.1 Mn by 2022, expanding at a CAGR of 3.2% from 2016 to 2022.
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Growth in healthcare investments, prevalence of lateral epicondylitis and growing high-risk geriatric population are the major factors driving the global market growth for lateral epicondylitis treatment. North America is the largest regional market at a market share of over 35% in 2015, and the dominance of this region is anticipated to continue through 2022. Rising incidence of sports injuries and high awareness about treatment and management of tennis elbow together drive the North America lateral epicondylitis market.
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Among the treatment types, corticosteroids injections segment is the most prominent market in terms of revenue. However, non-surgical therapies such as platelet rich plasma (PRP), splint elbow brace, ice packs and others will take approximately 40% market share in 2015. It is reported that around 95% of the total tennis elbow patients get relief from these therapies and do not need to opt for other medications and or surgical procedures. PRP is presently being investigated as it can act as an effective treatment that can heal a variety of tendon injuries. It possess a high concentration of proteins referred to as growth factors that can play a significant role in the healing of injuries. Prevailing research on lateral epicondylitis and PRP is very promising. A few treatment centers across the globe are integrating PRP injections into the nonsurgical treatment regime for tendon elbow. Further long-term results will add on to footprint of this segment in the tennis elbow market.
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Surgical treatments such as arthroscopy and open surgeries are opted as a final remedial measure for treating tennis elbow. Technological advancements in the nature of surgical equipment and guidance systems will support the demand for these treatment methods. Furthermore growing preference for minimally invasive procedures due to advantages such as quicker recuperation, better safety outcomes and less blood loss and risk of infection are the major factors that urge the demand for arthroscopy for tennis elbow treatment.
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