Market Trends of Complex Regional Pain Syndrome (CRPS) Industry
This section covers the major market trends shaping the Complex Regional Pain Syndrome Market according to our research experts:
Spinal Cord Stimulation Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
A spinal cord stimulator is an implanted device that sends low levels of electricity directly into the spinal cord to relieve pain. As CRPS involves severe chronic pain, a spinal cord stimulator is effective and safe with minimal to no side effects in relieving the pain of CRPS. The spinal cord stimulation segment is expected to witness significant growth over the forecast period owing to factors such as increasing cases of chronic pain and increasing adoption of technologically advanced products.
According to the data updated by NCBI in July 2022, the spinal cord stimulation technique uses pulsed electrical energy near the spinal cord to manage pain and it has proven its efficacy in refractory and difficult-to-treat pain syndromes. Thus, the increasing adoption of spinal cord stimulation and is likely to enhance segment growth.
New product approvals and launches under this segment drive the growth of the market segment. For instance, in January 2022, Nevro Corp received approval for expanded labeling for its Senza Spinal Cord Stimulation (SCS) System from the United States FDA for the treatment of Non-Surgical Refractory Back Pain (NSRBP). Furthermore, in January 2021, Boston Scientific launched a limited market release of the WaveWriter Alpha portfolio of Spinal Cord Stimulator (SCS) systems.
Therefore, due to the above-mentioned factors such as increasing adoption of spinal cord stimulation, increasing prevalence of chronic pain, and new product approvals and launches, the spinal cord stimulation market segment is expected to grow over the forecast period of the study.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a major market share in the complex regional pain syndrome market. The primary factors behind the large market size are the rising prevalence of complex regional pain syndrome and high public and private healthcare spending, which are stimulating the growth of the region.
Moreover, easy access to quality healthcare, favorable reimbursement policies, a strong clinical pipeline, and approval of novel drugs are projected to promote revenue growth in North America. According to the study report published by PubMed in June 2022, the minimum Canadian incidence of complex regional pain syndrome is estimated at 1.14 per 100,000 children per year, and the highest among girls 12 years and older at 3.10 per 100,000. Thus, the high incidences of complex regional pain syndrome will drive the market during the study period.
New product approvals and launches will drive the growth of the complex regional pain syndrome market further. For instance, in September 2021, Soin Therapeutics received orphan drug status from the United States FDA for low-dose naltrexone (LDN) to treat complex regional pain syndrome (CRPS). Furthermore, in February 2021, Zydus Cadila received final approval from the United States FDA to market Nortriptyline Hydrochloride capsules USP, in strengths of 10 mg, 25 mg, 50 mg, and 75 mg.
Thus, the increasing cases of complex regional pain syndrome, and increasing company activities in the region are expected to augment the market growth over the forecast period.
