Knee Bursitis Market is set to Boom by 2023

Posted by vinit sawant on April 2nd, 2021

Market Highlights

According to the World Health Organization, 422 million people across the globe are suffering from diabetes. Diabetes is the major reason for cardiovascular diseases. Increasing prevalence of diabetes, rapidly developing technology, and increasing geriatric population across the globe are fuelling the growth of the market.

However, strict regulations are to be followed by the manufacturer for the development of the devices. Strict regulatory rules and the high cost of treatment may slow the growth of the market over the assessment period. 

The knee bursitis market size is expected to grow at a CAGR of 7.1% during the forecast period 2017-2023.

Regional Analysis

The Americas command a major share of the market owing to the huge patient population suffering from bone related problems & diabetes, increasing demand for the advanced devices, and strong government support. Additionally, availability of funds and rising geriatric population are expected to fuel the growth of the market.

According to the United States Census Bureau, when the global population reached 7 billion in 2012, 562 million (or 8.0 %) people were aged 65 and over. In 2015, the older population rose by 55 million and the proportion of the older population reached 8.5 % of the total population

 Europe accounts for the second largest market across the globe, which is followed by the Asia Pacific. Strong government support, availability of funds for research, and high healthcare expenditure is driving the growth of the market.

The Asia Pacific is the fastest growing market owing to increasing need for better devices, rapidly improving technology, and the presence of huge patient pool. China and India are the key contributors to the growth of the market. Additionally, increasing government support, and presence of huge opportunity have fuelled the growth of the market in the Asia Pacific.