by Complex Regional Pain Syndrome Market is estimated to be valued at US$ 103.7 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Complex regional pain syndrome (CRPS), also known as reflex sympathetic dystrophy syndrome (RSD), is a chronic pain condition that usually affects an arm or leg. It can sometimes spread to other areas of the body. Symptoms include intense pain, swelling, changes in skin temperature and color, and stiffness of the affected area. CRPS typically develops after an injury, surgery, stroke or heart attack. While the exact cause is unknown, it’s believed to involve malfunctioning of the sympathetic nervous system. The increasing awareness about various treatment options such as medications, physiotherapy and surgery is driving more people to seek treatment for CRPS, thereby propelling growth of the global complex regional pain syndrome market.
The global Complex Regional Pain Syndrome Market is estimated to be valued at US$ 103.7 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising awareness about treatment options is one of the key trends fueling growth of the complex regional pain syndrome market. According to recent studies, awareness about CRPS has increased significantly among the general population as well as medical practitioners. Various non-profit organizations are undertaking initiatives to spread awareness through educational campaigns, conferences and support groups. This is helping more people identify the symptoms of CRPS early and seek timely treatment. As treatments become more available and socially acceptable, more patients are opting for medications, physiotherapy and even surgery to manage pain and improve functionality of the affected area. This growing focus on treatment is supporting revenue growth of the overall CRPS market.
SWOT Analysis
Strength: CRPS market growth is driven by increasing prevalence of complex regional pain syndrome and rising geriatric population. The market has seen a rise in R&D activities and advancements in therapies such asketamine, cannabis , and spinal cord stimulation.
Weakness: Complex regional pain syndrome has no known cause which makes diagnosis and treatment challenging. Lack of awareness about the condition hampers market growth. High cost of treatment also acts as a restraint.
Opportunity: There is scope for development of novel drugs for CRPS treatment. Emerging economies present lucrative opportunities for market players due to growing healthcare expenditure.
Threats: Stringent regulations for drug approval may delay market launch of new therapies. Patent expiries of blockbuster drugs also pose a threat to existing players.
Key Takeaways
The global complex regional pain syndrome market demand is expected to witness high growth over the forecast period owing to rising prevalence of CRPS and new product launches.
Regional analysis: North America currently dominates the CRPS market and is expected to continue its dominance through 2030. This can be attributed to increasing incidence of CRPS and presence of advanced healthcare facilities. Asia Pacific is projected to witness fastest growth owing to growing medical tourism, inflating healthcare spending and improving access to diagnosis and treatment options.
Key players: Key players operating in the complex regional pain syndrome market are Intercos S.p.A., Kolmar Korea Co. Ltd., Scalpi Cosmética sa, Cosmecca Korea Co., Cosmax Inc., Mana Products Inc., KBL cosmetics Ltd., Urist Cosmetics Incorporated, Fareva Holding SA, Milliona Cosmetics Co., Ltd., Skinlys, Maesa SAS, Schwanhäusser Holding GmbH & Co. KG, Tricorbraun Inc., Herrco Cosmetics Limited, Architectural Beauty, Allure Labs Inc., Case Mason Filling, Inc., Pardaco Trading Pte Ltd, and KDC/ONE. These companies are focusing on new product launches, expanding geographical presence and raising awareness to consolidate 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
