Impingement Syndrome Market is Anticipated to Witness High Growth Owing to Growing Caseload of Shoulder Injuries
Impingement syndrome refers to the compression of soft tissues located underneath the acromion resulting in shoulder pain and damage to the tendons. A common cause for impingement syndrome includes repetitive overhead activities and injuries related to sports like swimming and tennis. The risk factors also include structural abnormalities, overuse, instability, and rotator cuff weakness. Impingement syndrome leads to reduced mobility, inflammation, and deterioration of tissues over time if left untreated. As a result, treatments aimed at relieving symptoms and restoring function are increasingly being adopted.
Global impingement syndrome market size is estimated to value at US$ 1,380.4 million in 2023 and is expected to reach US$ 2,224 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7% from 2023 to 2030.
The Impingement Syndrome Market Trends caseload of shoulder injuries and risks associated with repetitive motions have driven the demand for treatments targeting impingement syndrome. Various therapies including medications, physiotherapy, injections, and surgeries are available to manage pain and improve shoulder function in patients.
Key Takeaways
Key players operating in the impingement syndrome market are SABIC Innovative Plastics, Chi Mei Corporation, Teijin Limited, Mitsubishi Engineering-Plastics Corporation, Idemitsu Kosan Co., Ltd., Styron, Royal DSM, Centroplast Engineering Plastics GmbH, Asahi Kasei Chemical Corporation, and Bayer Material Science. These companies are focusing on developing advanced therapies and drugs to manage different stages of impingement syndrome effectively.
The rising participation in sports and recreational activities has significantly increased the caseload of shoulder injuries globally. This has opened up opportunities for players to introduce innovative treatment solutions and drugs with fewer side effects. Furthermore, growing awareness about impingement syndrome and its management is encouraging more patients to seek clinical treatment.
The key players are expanding their geographical presence into emerging regions of Asia Pacific, Latin America, and Middle East & Africa seeing the growth opportunities in these untapped markets. Companies are undertaking strategic partnerships with local players to strengthen their distribution networks in these high potential regions.
Market Drivers
Growing participation in sports: With increasing health consciousness, more people are participating in sports and physical activities. However, it has also led to a rise in overuse injuries like impingement syndrome due to repetitive overhead motions. This is a key factor driving the need for effective treatment solutions.
Rising geriatric population: Age is a significant risk factor for impingement syndrome as elderly people tend to experience degenerative changes in the rotator cuff. With rise in life expectancy globally, the geriatric population susceptible to age-related shoulder disorders is increasing significantly.
Market Restraints
High cost of surgery: Shoulder arthroscopy performed for severe impingement syndrome involves high expenses which might not be affordable for many. This limits its adoption, especially in price-sensitive developing regions.
Risk of complications: While surgery provides lasting relief, it is an invasive procedure. Some common postoperative risks include infection, stiffness, re-tearing of tissues, and failure of the repaired tissues to heal properly. This discourages some eligible patients from opting for surgery.
Segment Analysis
The shoulder sub segment holds the largest market share currently and will continue to dominate during the forecast period. Impingement syndrome most commonly affects the shoulder and accounts for nearly 70% of all cases. Overuse sports injuries that involve overhead motion like swimming, baseball and tennis are a major cause of shoulder impingement. Non-invasive treatment options like physical therapy provide relief for mild to moderate shoulder impingement and are less costly than surgery. This makes the shoulder sub segment an attractive area for therapeutics.
Global Analysis
The North America region holds the largest share in the impingement syndrome market currently. Factors driving growth in North America include rising participation in recreational sports activities and overhead occupation tasks which increases the risk of conditions like shoulder impingement.
Additionally, early diagnosis and adequate reimbursement for non-invasive treatments in the region has enabled most patients to opt for cost-effective physical therapy options initially. In countries like the US, a majority of patients are covered by private or public medical insurance which lowers treatment costs. These regional characteristics of North America are expected to allow it retain its leading position during the forecast period.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)