Thumb Arthritis Market Outlook on Industry Strategies to Grow Vigorously

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Thumb Arthritis Market Highlights

The Thumb Arthritis Market insights report has estimated at USD 0.4 billion in 2022. Thumb arthritis market revenue is anticipated to increase from USD 0.43 billion in 2023 to USD 0.833 billion by 2032, growing at a compound yearly growth rate (CAGR) of 8.50% over the forecast period (2023-2032).

In thumb arthritis, the cushion-like cartilage inside the CMC joint breaks down, causing the bones to rub against each other. Increasing prevalence of thumb arthritis, growing geriatric and obese population, and rising healthcare expenditure are some of the major factors estimated to drive the market growth during the forecast period. However, the high cost of the surgical therapeutics along with related complications is estimated to restrain the market growth during the forecast period.

The disease's few symptoms include pain in the thumb joint, swelling at the base of the thumb, an enlarged or bony-appearing joint there, a decrease in strength when squeezing or holding other items, among others. Degenerative arthritis, the second most prevalent type of arthritis, is caused by the cartilage wearing down as people age. Additionally, rheumatoid arthritis or lupus can damage joints.

Segmentation

The global thumb arthritis market is segmented on the basis of type, diagnosis, treatment, and end user. On the basis of the type, the market is segmented into osteoarthritis thumb arthritis, rheumatoid thumb arthritis, and others. On the basis of the diagnosis, the market is segmented into physical examinations, imaging, fine needle aspiration (FNA), and others. The imaging segment is sub-segmented into X-ray, computed tomography (CT), magnetic resonance imaging (MRI), and others.

On the basis of the treatment, the market is segmented into thumb exercise, medication, surgery, and others. The medication segment is sub-segmented into OCT medications, prescription medications, and others. The surgery segment is sub-segmented into trapeziectomy, osteotomy, and others.

On the basis of the end users, the market is segmented into hospitals clinics, research organizations, retail pharmacies, and others.

Regional Analysis

The Americas dominate the global thumb arthritis market. A well-developed healthcare sector, growing geriatric population, and increasing healthcare expenditure are the major drivers for the growth of the global thumb arthritis market.

Europe holds the second largest thumb arthritis market owing to the availability of the funds for research, increasing surgery adoption rates, and growing patient population.

Asia Pacific is the fastest growing region. Growing geriatric and obese population followed by the developing healthcare sector are boosting the market growth. Within the region, Australia holds a significant ratio of the obese population. However, the presence of the developing economies like India and China are marked by expanding healthcare sector. This is estimated to provide favorable backgrounds for the market growth.

The Middle East and Africa region account for the least market share. This is mainly due to the presence of the poor African economies within the region, which have low per capita income and lack of the medical services. On the other, the Middle East holds the largest market share within the region.

Key Players

The key players listed in the Thumb Arthritis Market outlook report are inclusive of 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.

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