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Tendonitis Treatment Global Market Rising Trends, Industry Size, Share Report, Growing Demand and Business Opportunities And Forecast 2024-2033
Tendonitis Treatment Global Market
According to The Business Research Company's, The tendonitis treatment market size has grown steadily in recent years. It will grow from $211.67 billion in 2023 to $219.73 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to pharmaceutical developments, increased sports injuries, aging population, occupational factors, awareness and education.
The tendonitis treatment market size is expected to see steady growth in the next few years. It will grow to $259.54 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to government support and funding, personalized medicine, expansion of regenerative therapies, rise in demand for non-invasive treatments, remote monitoring and telehealth. Major trends in the forecast period include research and development, regenerative therapies, advancements in physical therapy, focus on minimally invasive treatments, telemedicine for remote consultations.
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Market Drivers and Trends:
The growing prevalence of sports injuries is expected to propel the growth of the tendonitis treatment market going forward. A sports injury is any injury or trauma that occurs during sports or other physical activity; it involves muscles, tendons, ligaments, bones, and joints. Tendonitis treatment for sports injuries often consists of a combination of rest, pain management, and physical therapy to allow the injured tendon to recover, reduce swelling, and support the affected area. For instance, in June 2022, according to the National Safety Council, a US-based nonprofit public service organization, 3.2 million people were treated in emergency departments for injuries involving sports and recreational equipment. The number of injuries increased by 20% in 2021, with 409,224 injuries in 2021 compared to 377,939 in 2020. Therefore, the growing prevalence of sports injuries is driving the growth of the tendonitis treatment market.
Technological innovations are a key trend gaining popularity in the tendonitis treatment market. Companies operating in the tendonitis treatment market are adopting new technologies to sustain their position in the market. For instance, in September 2021, Stryker Corporation, introduced a new Citrelock Tendon Fixation Device System, to prevent bulk degradation and chronic inflammation. Citrelock is intended to provide fixation without causing tendon damage during implantation and consists of a tendon thread with a resorbable technology called Citregen. It is composed of citrate, calcium, and phosphate molecules, all of which are necessary for bone anatomy, and it has distinct chemical and mechanical qualities for use in orthopedic procedures to provide controlled and homogeneous resorption processes that are intended to prevent bulk degradation and chronic inflammation. It also provides surgeons with strength comparable to cortical bone and modulus comparable to cancellous bone.
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Major Key Players of the Market:
Merck & Co. Inc.; Bayer AG; Boehringer Ingelheim GmbH; Abbott Laboratories; Pfizer Inc.; Almatica Pharma Inc.; Teva Pharmaceutical Industries Ltd.; Smith & Nephew plc; Stryker Corporation; Colfax Corporation; Zimmer Biomet Holdings Inc.; Össur hf; Tynor India Ltd.; Arthrex Inc.; CONMED Corporation; TendoMed Inc.; BioPro Inc.; Aevumed Inc.; Alafair Biosciences Inc.; AstraZeneca plc; GlaxoSmithKline plc; Johnson & Johnson; Medtronic plc; Boston Scientific Corporation; Wright Medical Group N.V.; Breg Inc.; Mueller Sports Medicine Inc.; Bauerfeind AG; BSN medical GmbH; Henry Schein Inc.
Tendonitis Treatment Market 2024 Key Insights:
• The tendonitis treatment market size will grow to $259.54 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.
• Sports Injuries Fuel The Growth Of Tendonitis Treatment Market
• Technological Innovations Are Rapidly Transforming The Tendonitis Treatment Landscape
• North America was the largest region in the tendonitis treatment market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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