Tennis Elbow Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The tennis elbow treatment market was anticipated to record a CAGR of nearly 4.1% during the forecast period. The growing burden of lateral epicondylitis, increase in target population, and launch of cost-effective treatment options are the major growth propellers for the market. A rising number of sports-related injuries is also anticipated to drive the growth. As per the Stanford Children’s Health, each year around 3.5 million children ages 14 and below are affected by some form of sport-related injuries. The aforementioned factors are likely to drive the demand for tennis elbow treatment.
Increase in the geriatric population base also contributes to the prevalence of lateral epicondylitis. The target disease is found to be more prevalent in the geriatric population. With an upsurge in lifestyle disorders, the market is anticipated to register significant growth in near future. Moreover, favorable government initiatives such as Integrated Care for Older People to raise the awareness about geriatric health drives the demand for the market.
In addition, increasing efforts undertaken by major companies for the development of technological advanced products will also support market growth. Involvement of international organizations serves as a catalyst in the tennis elbow treatment market.
However, sluggish commercialization of new effective therapies may hamper business growth in the future.Key Market TrendsBraces by Non-surgical Therapies Segment is Expected To Showcase Significant Growth Over The Forecast Period.
North America dominated the tennis elbow treatment market in terms of revenue share in 2019. Increasing number of sport events and competitions in the United States coupled with increasing patient awareness level are the vital factors for the growth of tennis elbow treatment market in this region. Furthermore, factors such as rising geriatric population, and availability of insurance coverage are projected to drive the regional demand. The US Department of Health and Human Services’ National Youth Sports Strategy for increasing awareness of the benefits of participation in sports and regular physical activity, as well as the importance of good nutrition is boosting the regional growth for the market.
Asia-Pacific is expected to showcase lucrative growth over the forecast period. The growth can be attributed to an increased number of medical tourism and government initiatives. Moreover, the rising aging population at the risk of tennis elbow and other joint problems is expected to drive the regional product demand. Rising medical tourism in Asia-Pacific due to cheaper procedural costs is further propelling the market growth.Competitive Landscape
The tennis elbow treatment 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 USA Inc., DJO Global Inc., Zimmer Biomet, 3M, and AKSIGEN.
The players are constantly involved in strategic initiatives, such as new product launch, technological advancements, regional expansion, and mergers and acquisitions in order to gain deeper penetration. For instance, Zimmer Biomet's, Tether treatment of scoliosis, providing a fusion-less alternative for young patients requiring surgery for young patients with scoliosis receives FDA approval.Additional Benefits:
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