Impingement Syndrome Market Projected to Register High Growth Amid...

Impingement Syndrome Market Projected to Register High Growth Amid Rising Prevalence of Shoulder Injuries

Posted 2023-12-26 11:36:40

Shoulder impingement syndrome refers to compression or irritation of structures in the subacromial space of the shoulder, which includes the subacromial bursa and rotator cuff tendons. It is a common cause of shoulder pain and disability, especially among individuals involved in overhead activities or weight training. The rising prevalence of shoulder injuries due to increasing participation in sports activities and physically demanding jobs has significantly increased the risk of developing impingement syndrome. According to recent estimates, shoulder impingement syndrome accounts for nearly 44% of all shoulder pain cases reported worldwide.

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 Dynamics:
The impingement syndrome market is expected to witness high growth owing to the rising prevalence of shoulder injuries. According to recent data, shoulder injuries account for approximately 30% of all injuries in sports that involve overhead motion or repetitive upper extremity use. Sports like tennis, volleyball, swimming and throwing events put significant stress on the shoulder joint and make athletes susceptible to impingement syndrome. Moreover, physically demanding occupations involving repetitive arm motions such as construction and manufacturing are also contributing to the increasing risk of shoulder impingement. The rising participation in sports and physically stressful jobs worldwide is anticipated to drive the demand for impingement syndrome treatment over the forecast period.

SWOT Analysis
Strength: Impingement syndrome market is growing rapidly owing to rising prevalence of sports injuries and shoulder pains. The availability of advanced treatment options such as physiotherapy and drugs have positively impacted the market growth. Growing awareness regarding the condition and its treatment alternatives have led more patients opting for surgical procedures which is driving the market.
Weakness: High costs associated with surgical procedures for impingement syndrome treatment act as a major restraint. Lack of comprehensive reimbursement policies in some regions further limit market growth. Second line treatment options such as medications have various side effects which discourage patients.
Opportunity: Growing healthcare expenditure in developing nations provides new opportunities. Advancements in arthroscopy procedures ensuring faster recovery and minimal invasiveness will spur demand. Collaboration between key players to develop affordable innovations can boost the market.
Threats: Threat from alternative treatments such as acupuncture and ayurveda poses challenges. Economic slowdowns negatively impact the overall healthcare spending. Stringent regulations for new product approvals delay market entry for players.

Key Takeaways

The global Impingement Syndrome market is expected to witness high growth. The rising prevalence of sports injuries across regions due to increasing participation in sports activities is a major driver. As per estimates, over 2.5 million cases of shoulder impingement are reported annually in North America alone.

Regional analysis: North America currently dominates the global market and is expected to maintain its lead during the forecast period. This can be attributed to growing healthcare expenditures, availability of advanced treatment facilities and healthcare infrastructure in the region. Asia Pacific is anticipated to witness fastest growth owing to rising medical tourism, improving access to healthcare and increasing awareness about available treatment options.

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. Collaborations between these players is resulting in launch of new products with enhanced functionalities to gain higher market shares.