Rising prevalence of elbow tendons swelling coupled with increasing incidences of pain in elbow joints are the major factors driving the global lateral epicondylitis treatment market. Repetitive motion of the elbow and arms is the main reason for lateral epicondylitis. Increasing cases of lateral epicondylitis in plumbers, carpenters, swimmers, basketball players and tennis players is also expected to propel the growth of the global lateral epicondylitis market. This condition typically arises due to extension of wrist against the resistance or improper equipments use by athletes. It has been observed that people above the age of 60 are more afflicted with lateral epicondylitis.Therefore, rapidly growing geriatric population base worldwide and increasing incidences of arm fractures due to accidents are expected to further fuel the lateral epicondylitis market over the forecast period. However, sluggish commercialization of new effective therapies is expected to pose hurdle for the growth of this market over coming few years.
The overall lateral epicondylitis market is classified on the basis of treatment methods into surgical therapies and non surgical therapies. The non surgical treatment held the largest market share as of 2014 owing to the efficiency of the treatment without operating the body. The non surgical treatment includes extracorporeal shock wave therapy, braces, medications and physical therapies. Various anti inflammatory drugs (NSAIDS) such as ibuprofen, aspirin and cortisone are administered to control pain in lateral epicondylitis. Physical therapies such as muscle stimulation and ice massage are performed to improve healing. Moreover, straps or braces reduce the stress on elbow tendons and muscles. The extracorporeal shock wave therapy is used for promoting natural healing process in the body. In surgical treatment segment, arthroscopic surgery and open surgery are performed. The open surgery is expected to witness lucrative growth owing to outpatient surgeries and high success rate of approximately 90-95% and shorter post surgery hospital stay. Various drugs used for treatment of lateral epicondylitis include topical nitrates, botulinum toxin and hyaluronate.
Geographically, the entire lateral epicondylitis market is segmented into North America, Asia Pacific, Europe, Latin America and MEA. As of 2014, North America held the largest market share followed by Europe. Increasing number of sport events & competitions in the U.S. coupled with increasing patient awareness level are the vital factors for the growth of lateral epicondylitis market in this region. Latin America and Asia regions are anticipated to grow at highest CAGR due to increasing incidences of sport injuries in these regions.
The global lateral epicondylitis market is consolidated in nature. Various companies are striving to gain market share by adopting competitive strategies such as joint ventures and research partnerships. Some key players operating in the market include Teikoku Pharma, Inc., Kasiak Research Pvt. Ltd., Moecular Phramacology Limited, Chugai Pharmaceutical Co., Ltd., and Seikagaku Corporation.
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