Global Musculoskeletal diseases treatment Market
Ligaments, nerves, muscles, joints, tendons, and the structures supporting the neck, back, and limbs make up the musculoskeletal system in the human body. Musculoskeletal problems include any musculoskeletal system damage, discomfort, or inflammation. Other popular terms for MSDs include “overuse injury,” “repetitive motion injury,” and “repetitive stress injury.” The issue with adopting such a phrase is that it suggests repetition and stress as the only two factors that might cause harm to the musculoskeletal system.
Market Size Growth Rate:
According to the research report published by DataM Intelligence, the global musculoskeletal diseases treatment market size was valued at USD YY billion in 2021, it is projected to reach USD YY billion by 2029, with growth at a CAGR of 4.6% over the forecast period 2022-2029.
Common issues that cause the elderly population anguish include musculoskeletal diseases. Improved knowledge of musculoskeletal conditions may result in the implementation of successful preventative strategies, lowering public healthcare costs and raising the older population’s quality of life. Technological developments in orthopedic devices, combined with rising public awareness, may increase demand for medications, physical and occupational treatments, and healthcare suppliers and providers. Additionally, people nowadays are prepared to invest time and money in learning about available treatments and developing personalized care plans to help them manage their pain and maintain an active lifestyle.
Sports-related injuries, musculoskeletal disorders, and age-related dysfunction are all linked. Back discomfort, rheumatoid arthritis, and other musculoskeletal conditions are among the most prevalent. All acute and chronic disorders affecting the musculoskeletal system are diagnosed and managed under the heading of the musculoskeletal system. WHO estimates that 1.71 billion individuals worldwide suffer from musculoskeletal diseases. Low back pain is the sole cause of disability in 160 different nations, and musculoskeletal diseases are the main cause of disability globally. Musculoskeletal disorders severely restrict movement and dexterity, which results in early retirement from the workforce, decreased levels of well-being, and a decreased capacity to engage in society. These studies show that musculoskeletal diseases treatment will be in high demand in the forecast period.
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However, the high cost of treatment could hamper the expansion of the musculoskeletal diseases treatment market in the forecast period.
Orthopedic treatment and technologies are becoming more and more technologically advanced, and this combination is resulting in unprecedented demand and expanding prospects for healthcare professionals. Additionally contributing to the enormous amount of information that customers are receiving about their diseases and available medical treatments is direct-to-consumer advertising. For instance, medical equipment companies are marketing novel joint implants directly to customers instead of going through surgeons and doctors. The result is that informed patients are contacting doctors and specifically requesting medical treatments and goods. The success of new implants and drug introductions are expected to continue to create attractive prospects for market expansion in the forecast period.
COVID-19 Impact Analysis
The COVID-19 epidemic has quickly turned into a global pandemic. In addition to the difficulties faced by the general public, the COVID-19 pandemic has presented difficulties for people with rheumatic disease. These difficulties include worries about increased risks of infection with the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and the unfavorable course of COVID-19.
When COVID-19 first appeared, some nations stopped performing any non-emergency surgical procedures so that medical staff could concentrate solely on COVID-19 patients. As a result, the market suffered badly during the pandemic. Although the market experienced an expansion and quickly began clearing a sizable backlog of postponed surgery during the third wave and the post-pandemic era.
Recent Developments in the Industry:
- In January 2022, Stryker announced a signed merger agreement to pay $79.25 per share, or around $2.97 billion in total equity value and $3.09 billion in total enterprise value, to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc.
- In January 2022, Rising Point Therapeutics, a clinical-stage precision oncology business with a pipeline of investigational drugs intended to target the most prevalent mutations linked to oncogenesis, has been the subject of a final merger agreement announced by Bristol-Myers Squibb.
As per the research analysis, the global musculoskeletal diseases treatment market is segmented by disorder into corticosteroids, cannabinoids (dronabinol), anabolic steroids, cytokine inhibitors, and others. By mechanism, the market is further segmented into appetite stimulators, weight loss stabilizers, and others, by distribution channel, the market is segmented into hospital stores, retail pharmacy stores, and online pharmacies.
- On the basis of the therapeutics, the arthritis segment is estimated to grow at the highest CAGR of XX% during the forecast period (2022-2029). Due to arthritis is becoming more common throughout the world. About 1.5 million Americans will have rheumatoid arthritis in 2021, according to the arthritis association. In 2021, the World Health Organization estimates that 14 million individuals will have rheumatoid arthritis.
- Based on the end-user, the hospital segment accounted for the largest market share of around XX% in 2020 and is expected to grow at a CAGR of XX% during the forecast period (2022-2029). The hospital pharmacy sector is expected to dominate the musculoskeletal diseases treatment market during the projected period. This is the outcome of an increase of hospital chains and global advancements in healthcare infrastructure. Additionally, an increasing number of orthopedic specialty hospitals contribute to the market’s expansion.
The global musculoskeletal diseases treatment market is segmented into major regions including North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
North America Musculoskeletal diseases treatment Market:
The NorthAmerican region holds the dominant share of about XX% in 2020. This is because diseases include rheumatoid arthritis, osteoarthritis, osteoporosis, spondylitis, fibromyalgia, arthralgia, and others are becoming more prevalent in this region. Approximately 70 million physician’s office visits and an additional 130 million outpatient, hospital, and emergency room visits are attributed to musculoskeletal diseases each year in the United States.
Europe Musculoskeletal diseases treatment Market:
The market in Europe is expected to grow by showcasing a significant CAGR this is because musculoskeletal illnesses are becoming more prevalent in European nations. Over 20 million people in the UK—roughly one-third of the population—has musculoskeletal (MSK) diseases such arthritis and low back pain, according to Versus Arthritis.
The musculoskeletal diseases treatment market is highly competitivewith the presence of major players and small emerging players. In the musculoskeletal diseases treatment market, companies, healthcare insurance providers, and hospitals all are emerging at a steady pace with competitive musculoskeletal diseases treatment. Key players compete on the basis of aggressive pricing, features, convenient use, technology upgrades, and marketing strategies. The market playersare adopting various key strategies such as collaborations, partnerships, acquisitions, and product launches to expand their presence.
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Some of the major key players in the market Pfizer, Koninklijke Philips, Siemens, Canon Medical Systems, Hitachi, Shimadzu, Fujifilm, Toshiba, Accuray, MR Solutions and Globus Medical Inc.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the global musculoskeletal diseases treatment market segmentation by therapeutics, mechanism, distribution channel,and region highlighting the key commercial assets and players.
- By Disease Type: arthritis, osteoarthritis, osteoporosis, spondylitis, traumatic fractures, sarcopenia, fibromyalgia and others
- By Imaging Modality: magnetic Resonance Imaging (MRI), computed Tomography (CT), ultrasound and Others
- By Medication: Hospital acetaminophen, nonsteroidal anti-inflammatory drugs (NSAIDs), anti-neuropathic pain medications and others
- By Distribution Channel: hospital Pharmacy, retail Pharmacy and online Pharmacy
- By Region:North America, South America, Europe, Asia Pacific, and the Middle East & Africa
- Identify commercial opportunities in the musculoskeletal diseases treatment market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
- Excel data sheet with thousands of data points of Musculoskeletal diseases treatment Market -level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
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