Impingement syndrome refers to compression or pinching of tendons or bursa due to narrowing of the space between bones. It commonly occurs in shoulder when rotator cuff tendons are squeezed between the head of the upper arm bone (humerus) and the edge of the shoulder blade (acromion). Treatment includes medication, physical therapy, surgery. Surgery involves repairing damage tissues using arthroscopy- a minimally invasive technique using tiny cameras and surgical instruments. The shoulder arthroscopy market is growing due to several advantages like less pain, reduced scarring, and faster recovery compared to open surgeries.
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
Technological advancements in arthroscopy devices enabling better diagnosis and minimally invasive surgeries along with rising obese population are expected to drive the impingement syndrome market growth over the forecast period. Obesity is a major risk factor for impingement syndrome due to extra weight on shoulder joints causing damage to tissues over the time. Moreover, growing geriatric population is also contributing as aging weakens shoulder joints and tendons leading to impingement. According to UN report, number of people aged 65 years or older is projected to grow to more than 1.5 billion in 2050 from 703 million in 2019.
Segment Analysis
The impingement syndrome market is dominated by the shoulder impingement syndrome segment which accounts for over 60% market share. Shoulder impingement syndrome is the most common cause of shoulder pain among athletes and other individuals who repeatedly engage in overhead activities like swimming, tennis etc. This segment dominates due to high prevalence of shoulder impingement related injuries among these groups.
PEST Analysis
Political: The market is expected to witness support from various government initiatives and funding for research activities related to treatments of orthopedic disorders.
Economic: Rising healthcare spending globally is expected to drive market growth. The economic burden of impingement syndromes is also increasing healthcare spending.
Social: Growing participation in sports and fitness activities is increasing the risk of impingement injuries thus supporting market growth. Changing lifestyle and increased time spent at workstations is also contributing to the growth.
Technological: Advances in imaging technologies for accurate diagnosis and minimal invasive treatment procedures are supporting market growth. Developments in stem cell therapies also offer potential opportunities.
Key Takeaways
The global impingement syndrome market is expected to witness high growth over the forecast period supported by increasing risk factors like rising sports injuries and growing time spent on workstations.
Regional analysis: North America dominates the market currently owing to developed healthcare infrastructure and awareness. Asia Pacific is expected to witness fastest growth due to growing medical tourism and improving access to healthcare.
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. Many key players are focused on developing innovative diagnostic kits and tools to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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, chemicals and materials, defense and aerospace, consumer goods, etc.