Market Highlights:
Thoracic outlet syndrome is the compression of the neurovascular structures caused due to weight lifting, tumors in the chest, bone abnormalities, trauma, and others.
A number of factors such as rising cases of road traffic injuries, increasing cases of anatomical defects, high unmet needs of current treatment, and surge in the research and development expenditure, improvement in reimbursement policies are propelling the growth of the global thoracic outlet syndrome market.
However, difficult diagnosis, lack of infrastructure in the middle and low-income countries, and side effects associated with the drugs may hamper the growth of the market over the review period.
It is estimated that thoracic outlet syndrome market size is expected to grow at a CAGR 7.0% during the forecast period of 2022-2027.
Key Players:
Some of key the players in the market are 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.
Segmentation:
The Thoracic Outlet Syndrome Market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of type, the market is segmented into neurogenic thoracic outlet syndrome, venous thoracic outlet syndrome, and arterial thoracic outlet syndrome.
On the basis of diagnosis, the market is segmented into nerve conduction studies, vascular studies, chest X-ray, cervical spine X-rays, computed tomography (CT) scan, magnetic resonance imaging (MRI), and magnetic resonance imaging with angiography (MRA), arteriogram/venogram, and blood tests.
On the basis of treatment, the market is segmented into surgery, medications, physical therapy, and others. The medications segment is further classified into muscle relaxant, thrombolytic medications, anticoagulant medications, and others.
On the basis of end-user, the market is segmented into hospital & clinics, diagnostic centers, academic and research institutes, drug pharmacies, and others.
Regional Analysis:
The Americas dominate the thoracic outlet syndrome market owing to the rising awareness among people, and increasing healthcare expenditure. As per the facts suggested by the Centers for Disease Control and Prevention (CDC), out of the total annual healthcare expenditure, 86% is accounted by people with chronic health conditions in the United States.
Europe holds the second position in the thoracic outlet syndrome market. It is expected that the support provided by government bodies for research & development and improvement in reimbursement policies in healthcare will drive the market in Europe.
Asia Pacific is the fastest growing in thoracic outlet syndrome market, owing to a huge patient pool, developing healthcare technology, and rising healthcare expenditure in some countries within this region. According to the Australian Institute of Health and Welfare, in the years 2015 to 2016, the total health expenditure was USD 170.4 billion, which is 3.6% higher than the expenditure of 2014-15.
The Middle East & Africa has the lowest market for thoracic outlet syndrome due to lack of technical knowledge and poor medical facilities.
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