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 2.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Complex regional pain syndrome (CRPS) is a chronic pain condition that typically affects an arm or leg. It causes intense and disproportionate pain, swelling, and changes in skin color and temperature in the affected area. CRPS usually develops after an injury, a surgery, a stroke or a heart attack. It is believed to occur when the nervous system is damaged and sends wrong or exaggerated pain signals to the brain.
Market key trends:
One key trend in the complex regional pain syndrome market is the rising research and development of new drugs for neuropathic pain treatment. Currently available treatment options such as antidepressants and anti-seizure medications only provide partial pain relief to many patients. There is need for more effective and specialized pharmacologic therapies. Companies are investing in developing new drug delivery mechanisms and targeted therapies to address the underlying pathology of CRPS and achieve better clinical outcomes for patients.
SWOT Analysis
Strength: CRPS has a high rate of occurrence, with every year over 10,000 new cases get reported in the US. This creates a significant patient pool requiring treatment.
Weakness: There is no definitive diagnostic test available for CRPS, making it difficult to accurately diagnose. Currently available treatment options only provide symptomatic relief and do not cure the condition.
Opportunity: Growing research activities for developing new drugs and devices for effective CRPS treatment present lucrative opportunities. Non-invasive therapies like spinal cord stimulation are gaining popularity.
Threats: High costs associated with CRPS treatments limit revenue opportunities. Difficulties in accurately diagnosing also pose challenges.
Key Takeaways
The Global Complex Regional Pain Syndrome Market Size is expected to witness high growth, exhibiting a CAGR of 2.2% over the forecast period, due to increasing research for developing improved treatment options.
Regional analysis: North America dominates the global CRPS market and is expected to continue its dominance over the forecast period. This is attributed to growing prevalence of CRPS alongside availability of advanced treatment facilities in the region. Europe represents the second largest market globally.
Key players operating in the Complex Regional Pain Syndrome market are Boston Scientific Corporation, GlaxoSmithKline plc., Johnson & Johnson, Viatris, Sanofi S.A, and Medtronic Plc. Boston Scientific offers spinal cord and deep brain stimulation devices indicated for CRPS treatment. GlaxoSmithKline provides CRPS medications such as pregabalin and duloxetine.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
