Complex Regional Pain Syndrome (CRPS) refers to chronic pain that usually affects an arm or leg after an injury or trauma, but may also occur spontaneously in some cases. CRPS treatment aims to reduce pain and improve limb function through medications, nerve blocks, physical therapy, psychotherapy, occupational therapy, and other approaches.
The global Complex Regional Pain Syndrome Market is estimated to be valued at US$ 119.47 million in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing geriatric population suffering from age-related conditions is a major factor propelling the growth of the Complex Regional Pain Syndrome Market. As per the World Health Organization, the global population aged 60 years and older is projected to grow from 962 million in 2017 to 2.1 billion in 2050. Moreover, the aged population is more susceptible to chronic diseases like arthritis, diabetic neuropathy, post-herpetic neuralgia, and back and neck pain, which increases the risk of developing CRPS. Hence, the rise in the geriatric population worldwide afflicted by various pain syndromes acts as a major driver for the CRPS treatment market.
SWOT Analysis
Strength: Complex Regional Pain Syndrome (CRPS) market has increasing research and development activities for better treatment options. New drug formulations and therapies are being explored to manage the chronic pain associated with CRPS.
Weakness: Lack of disease awareness about CRPS among general population and healthcare professionals leads to underdiagnosis. Limited approved treatment options are also a challenge.
Opportunity: Rising geriatric population who are more prone to CRPS presents an opportunity. Growing healthcare expenditure in emerging nations provides a platform for market growth.
Threats: Strong competition from alternatives therapies like acupuncture and stringent regulations for new drug approvals are threats. High cost of CRPS treatment is also a market barrier.
Key Takeaways
Global Complex Regional Pain Syndrome Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Complex Regional Pain Syndrome Market is estimated to be valued at US$ 119.47 million in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024-2031.
North America dominates the global CRPS market currently owing to increasing prevalence of the disease and faster adoption of advanced therapies. Asia Pacific is anticipated to grow at the fastest pace during the forecast period with rising healthcare awareness and healthcare spending in the region.
Key players
Key players operating in the Complex Regional Pain Syndrome (CRPS) market are Intercos S.p.A., Kolmar Korea Co. Ltd., Scalpi Cosm??tica 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, Schwanh??u??er 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 among others. Innovation in drug delivery and combining pharmacologic and non-pharmacologic therapies are the focus areas of leading market players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it