(MENAFN- iCrowdNewsWire) Tendinitis Treatment Market Sales Insights, Industry Dynamics, Size Estimation, Growth Statistics, Business Overview and COVID-19 Impact Analysis By 2023
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iCrowdNewswire Jan 19, 2021 2:06 PM ET
The global tendinitis treatment market can touch USD 426.4 Mn by 2023, registering a CAGR of 3.8% throughout the forecast period. Factors driving market growth include the increasing cases of sports injuries, diabetes, and rheumatoid arthritis. The large geriatric populace, awareness of various treatments, and development of numerous non-steroidal anti-inflammatory drugs (NSAIDs).
Tendinitis or tendonitis is an inflammation of the tendons, a connective tissue that joins muscle around the bone. The redness of the muscle can be caused by a sudden injury to the tendons by a flurry of physical activity. The inflammation can be diagnosed by physicians with the assistance of X-rays. Remedies prescribed include corticosteroids, pain relievers, and platelet-rich plasma (PRP). The global tendinitis treatment market report by Market Research Future (MRFR) contains drivers, challenges, and other regulatory hurdles faced by manufacturers for the period of 2017 to 2023 (forecast period).
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The use of clinical trials for testing new drugs and treatment are likely to work favourably for the global tendinitis market. According to a recent article published in the British Medicine Journal (BMJ), PRP injections and their efficacy were being tested in a placebo trial for observation and treatment of Achilles tendinitis. Increasing use of sports medicine which can heal injuries caused by altercations popularized on television due to its use by athletes can bode well for the market. In addition, tendon stem cells have found new voice in surgeries due to its role in assisting fibrous scars in healing rapidly. Skilled professionals and physiotherapists for administering drugs to athletes can also contribute to market growth.
On the flip side, factors such as the looming patent expiry dates of various blockbuster drugs for the management of tendinitis can threaten market growth. But large number of regulatory healthcare reforms and treatments can facilitate the market by assisting pharmaceutical manufacturers.
Tendinitis Treatment Regional Analysis
The Americas dominates the tendinitis treatments market due to the increasing demand for new treatment options, the rising prevalence of sports injuries, diseases such as arthritis that can fuel the tendonitis pain, and large allocation of healthcare expenditure. Countries such as the U.S. and Canada can contribute majorly to the market growth in the region. Rising prevalence of rheumatoid arthritis and diabetes which can inflame the tendons can drive the market demand at an exponential rate during the forecast period.
Europe and APAC are regions with latent potential due to investments in various sport leagues and rising number of domestic tournaments. Emergence of new athletes and large number of people inclined towards sports can widen the ambit of the global tendinitis treatment market. The dynamic nature of the global healthcare sector and demands by consumers for faster pain alleviating agents other than surgery can bode well for the market.
Tendinitis Treatment Market - Competitive Analysis
The global tendinitis treatment market is small and highly competitive in nature. Differentiation in pricing, launch of novel products, and various types of products are strategies being pursued by market players to create a niche within the market.
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Key Players:
Main players within the tendinitis treatment market include Bayer, Almatica Pharma, Inc., Pfizer, AstraZeneca, Boehringer Ingelheim Pharmaceuticals, Inc., Merck & Co., Inc, and others.
Tendinitis Treatment Market Segments
MRFR has segmented the report by 4 major segments
By Type: Achilles Tendinitis, Tennis or Golfer's Elbow, Supraspinatus Tendinitis, and De Quervain's Tenosynovitis, and others.
By Treatment: Shock Wave Therapy or Surgery, Diagnosis, Therapy, Medical Devices, and Devices among others.
By End-user: Medical Research Centers, Hospitals & Clinics, and Academic Institutes among others.
By Regions : Americas, Europe, the Middle East & Africa (MEA), and Asia Pacific (APAC).
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