The Impingement Syndrome Market is estimated to be valued at US$ 4.54 Bn or in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Impingement syndrome is a common cause of shoulder pain that occurs when soft tissues in the shoulder get pinched or rubbed against bones. The condition is usually caused due to repetitive overhead activities that lead to inflammation of bones and tissues. Some common symptoms include shoulder pain that gets worse with overhead activity and sleeping on the affected side. Treatment options range from nonsurgical therapies like exercises, medications and corticosteroid injections to surgical procedures like acromioplasty and rotator cuff repair.
Market Dynamics:
Growing geriatric population prone to orthopedic disorders and rise in sports injuries are the key factors driving the growth of impingement syndrome market. According to the United Nations, the number of people aged 65 years and above is projected to reach 1.5 billion globally by 2050. Moreover, increasing participation in sports and recreational activities has led to high incidence of sports injuries. For instance, shoulder injuries account for around 30% of all sports injuries according to a study published in the British Journal of Sports Medicine. This has significantly boosted demand for effective diagnosis and treatment of shoulder conditions like impingement syndrome. Additionally, ongoing technological advancements in arthroscopic tools and implants for minimally invasive procedures is also expected to propel the market growth over the forecast period. However, high cost of surgical treatments and lack of awareness in developing nations remains a major challenge.
Segment Analysis
The global Impingement Syndrome Market Size is dominated by the non-surgical treatment segment. Non-surgical treatments such as physiotherapy, corticosteroid injections, non-steroidal anti-inflammatory drugs (NSAIDs) are generally first line of treatment. These treatment options are less expensive and invasive compared to surgical treatments. The non-surgical treatment segment accounted for around 60% market share in 2023 owing to increased preference of patients and healthcare providers for non-surgical options.
PEST Analysis
Political: Regulations regarding approvals of new treatments and medical reimbursement policies impact the market. Favorable regulations promote adoption of advanced treatment options.
Economic: Rising healthcare expenditures and growing middle class population in developing countries boost market growth. However, economic slowdowns restrain market expansion.
Social: Increasing awareness about early diagnosis and treatment of musculoskeletal disorders positively influences the market. Also, growing geriatric population prone to such conditions fuels demand.
Technological: Advancements in minimally invasive surgery techniques and implants are helping reduce risks, recovery times and drive adoption. Further, development of image-guided surgical systems enhance treatment outcomes.
Key Takeaways
The global Impingement syndrome market is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing prevalence of rotator cuff injuries and rising geriatric population susceptible to shoulder disorders. The North America region dominates the market owing to presence of sophisticated healthcare infrastructure and reimbursement coverage for shoulder surgeries in the region. Regional analysis related content comprises Regional analysis related content (Write regional analysis in 150 words explanation fastest growing and dominating region.) Key players operating in the (incorporate given market name) are Johnson & Johnson (DePuy Synthes), Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, NuVasive, Inc., Globus Medical, Inc., Wright Medical Group N.V., Arthrex, Inc., DJO Global, Inc., Össur hf., CONMED Corporation, Breg, Inc., Orthofix Medical Inc., Bioventus LLC
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
