Lateral Epicondylitis (Tennis Elbow) Market Gaining Momentum—Projected to Reach USD 10,734.53 Million by 2027

Published | 13 May 2020

A study recently conducted by the strategic consulting and market research firm, Blueweave Consulting, revealed that the global lateral epicondylitis (tennis elbow) market was worth USD 9,159.73 million in 2020 and is further projected to reach USD 10,734.53 million by 2027, at a CAGR of 2.30% during the forecast period (2021-2027). The market is driven by factors, such as the increasing number of injuries, innovation in treatment methods, and government policies & tie-ups with hospitals & clinics.

Innovation in treatment methods are driving the growth of the global lateral epicondylitis market

Lateral epicondylitis (tennis elbow) is a self-limiting condition that clears up on its own (generally between six months to two years)with pain control and adequate rest. The increasing demand for painless surgeries, shorter healing time, and little to no incision are some of the factors contributing towards the wider acceptance of elbow tenotomy methods. These factors are also directly contributing to the growth of the lateral epicondylitis market. For example, Percutaneoussurgery(a type of elbow tenotomy surgery) is highly preferred for treating lateral epicondylitis as it is more effective, less invasive, and allows patients to heal more easily with less pain. Percutaneous surgery uses ultrasound guidance for inserting a narrow needle into the tendon.

Transcatheter arterial embolization (TAE) is another innovative treatment method for lateral epicondylitis. This image-guided treatment decreases the abnormal blood flow around the injured area and reduces inflammation. Findings of this method were presented by Dr. Yuji Okuno of Japan at the Society of Interventional Radiology’s annual scientific meeting in 2019. Dr. Okuno said that the TAE treatment requires only a needle hole on the wrist to access the radial artery. TAE poses no side effects and is highly effective with almost no incision. Such groundbreaking treatment procedures are contributing to the growth of lateral epicondylitis market. At the same time, other innovative and non-surgical treatment methods like topical sprays, injections, and therapies are also emerging for the treatment of lateral epicondylitis.

Side effects of some of the medicines likely to impede the global lateral epicondylitis market growth

Corticosteroid injections, painkillers, and NSAIDs with temporary relief properties are some short-term solutions for tennis elbow. People suffering from lateral epicondylitis experience acute pain with inflammation around the affected area. Corticosteroid injections are used to treat inflammation around the small areas of the body as well as inflammation in tendons or any specific joint. Nevertheless, these injections have some serious long-term side effects. Tachycardia, nausea, insomnia, fluid retention, osteoporosis (fragile bones), hypertension (high blood pressure), diabetes, and others are some of the long-term side effects of corticosteroids injections.

Additionally, painkillers and NSAIDs (Non-steroidal anti-inflammatory drugs i.e. e.g. ibuprofen, diclofenac, celecoxib) are used to ease the pain and reduce inflammation. NSAIDs are generally used as a gel, spray, or taken orally. Long-term use of NSAIDs may lead to peptic ulcer disease, acute renal failure, and stroke/myocardial infarction. Moreover, some NSAIDs use can increase the risk of several chronic diseases, including heart failure and hypertension. All these serious long-term side effects of Corticosteroid injections, painkillers, and NSAIDs are restricting the growth of the lateral epicondylitis market.

The Hospitals/Clinics segment accounted for a larger share in the global lateral epicondylitis market in 2020

New technologies and treatment methods are being integrated by hospitals and clinics around the world for the treatment of lateral epicondylitis. Healthcare experts are nowadays coming up with innovative treatment methods for treating lateral epicondylitis that does not require open surgery. Such treatment methods are less painful and also allow patients to recover quickly. What’s more, forward-thinking hospitals and clinics with state-of-the-art healthcare infrastructure and strong financial position are increasingly embracing new treatment and surgery methods. Hospitals are also looking to tie-up with the government to derive assistance from the latter while carrying out clinical trials for new drugs and medicines. Owing to the aforementioned factors, hospitals/clinics account for a larger share in the lateral epicondylitis market and are also projected to maintain their dominance during the forecast period.

Global Lateral Epicondylitis (Tennis Elbow) Market: Regional insights

The global lateral epicondylitis (tennis elbow)market is segmented into five regions-North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the highest growth rate during the forecast period due to the increasing number of sports-related injuries, strong and well-established healthcare infrastructure, high disposable income, and presence of global leading players.

According to National Safety Council (NSC), basketball reported the third-highest number of injuries in North America in 2019 with 404,000 injuries, followed by football with 292,000 injuries. Around 50% of injuries sustained in MLB (Major League Baseball) is sustained by pitchers. These injuries, along with the massive market of sports-related to these injuries have contributed largely towards the growth of the lateral epicondylitis market in North America. Europe is expected to follow the lead of North America owing to the high popularity of sports, innovative treatment methods, better healthcare facilities, and high quality of doctors, and physicians.

The Leading Players operating in the Market-  Stryker Corporation, Chugai Pharmaceutical Co., Ltd, Seikagaku Corporation, Teikoku Seiyaku Co., Ltd., DJO Global, Inc., Zimmer Biomet, Smith & Nephew plc, Pfizer Inc., 3M Company, Arthrex, and other prominent players.

Key market players are entering into collaborations and engaging in mergers & acquisitions to capture a greater market share. Furthermore, the market participants are focusing on improving their product quality to attain a competitive edge over other players. 

In March 2019, CollPlant announced that it has renewed its exclusive distribution agreement with Arthrex for Vergenix STR. Collplant is a regenerative medicine company and has a distribution agreement with Arthrex since December 2016. As part of the agreement, Arthrex is serving as the exclusive distributor of CE Marked Vergenix STR in Europe, the Middle East, India, and certain African countries. Vergenix STR is an injectable gel used to accelerate healing in the treatment of tendinopathy, including tennis elbow, rotator cuff, patellar tendon, Achilles tendons, and hand tendons.

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