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The global Impingement Syndrome Market features a wide range of treatments and therapies to provide relief from shoulder pain and injury. Treatments such as medication, physiotherapy, steroid injections, and arthroscopic surgery help reduce inflammation and repair damaged tissues. Impingement syndrome is a common cause of shoulder pain resulting from tears or thickening of tissues where rotator cuff tendons pass through the shoulder. The global Impingement Syndrome Market is estimated to be valued at US$ 2,173.5 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of shoulder pain across the globe remains the key driver propelling the growth of the impingement syndrome market. As per studies, shoulder pain accounts for approximately 4-7% of primary care visits yearly. Age, occupations requiring repetitive shoulder movements, weightlifting injuries, and sporting activities increase the risk of developing impingement syndrome. Furthermore, lack of preventive exercises to strengthen the shoulder muscles and improving flexibility also contributes to the rising cases. The advancement in minimally invasive surgical treatments such as arthroscopic techniques are being widely adopted to offer faster recovery. Growing awareness regarding the availability of treatment solutions and rising healthcare expenditure in developing nations are also fueling the demand.
SWOT Analysis
Strength: Impingement syndrome market has a high prevalence rate and is increasingly diagnosed. It has a growing aging population that is more prone to orthopedic disorders.
Weakness: Many impingement syndrome cases remain undiagnosed due to lack of awareness. Limited treatment options also pose a challenge.
Opportunity: Scope for new drug development and advanced treatment modalities. Rising healthcare investments in emerging nations present an opportunity area.
Threats: Social stigma associated with orthopedic disorders reduces treatment seeking. Strong competition from alternative treatment practices also impacts market growth.
Key Takeaways
The global impingement syndrome market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from US$ 2,173.5 Mn in 2023 to over US$ 3,772.3 Mn by 2030, at a CAGR of 7.8%.
Regional analysis: North America region currently dominates the global market and is expected to maintain its lead through 2030. This can be attributed to developed healthcare infrastructure, growing elderly population, and high healthcare spending in the region. Asia Pacific region is poised to exhibit fastest gains due to increasing medical tourism, rising disposable incomes, and growing awareness about orthopedic disorders.
Key players: Key players operating in the impingement syndrome market are Thermo Fisher Scientific Inc., GE Healthcare, Merck KGaA, Bio-Rad Laboratories, Inc., Lonza, Abcam plc, PerkinElmer Inc., Bio-Techne, BioVision Inc., Cell Signaling Technology, Inc., and Geno Technology Inc. These companies are actively focusing on new product launches and strategic collaborations to consolidate their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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