Global Musculoskeletal Diseases Market will grow progressively at a CAGR of almo

Posted by Lohitha on August 8th, 2019

In the Report “Musculoskeletal Diseases Market: By Type (Rheumatoid Arthritis, Osteoarthritis, Psoriatic Arthritis, Ankylosing Spondylitis and Others); By Treatment (Biologics, Corticosteroids, Parathyroid Hormone, Protein Therapy, Selective Estrogen Receptor Modulators and Others) & By Region - (2018-2023)” published by IndustryARC, the market is driven by increased prevalence of musculoskeletal disorders globally, which is going to lift the need of diagnostic testing operation, and thus, fuels the market.

North America dominates with major share and growth in the Musculoskeletal Diseases Market

North America, held a major share in musculoskeletal diseases market, followed by Europe and the Asia-Pacific region, in terms of revenue. North American market for musculoskeletal diseases is expected to grow at a CAGR of 3.8% to reach revenue of .35 billion by 2023. In the U.S. region, 54.5% of adults are prone to musculoskeletal pain disorders. This will help the region to contribute towards the higher adoption and development of diagnostic technology. Asia-Pacific is estimated to witness the fastest growth in terms of revenue from developing countries like India and China. The APAC market for musculoskeletal disorders is anticipated to grow at a CAGR of 5.65% to reach revenue of .68 billion by 2023. Growing concern about the aging population who are more prone to musculoskeletal diseases has lifted the market towards higher adoption of treatment in this region.

Selected Type done in the full Report:

Rheumatoid Arthritis held the largest share of musculoskeletal diseases market by type in 2017. The Musculoskeletal Diseases Market with respect to Rheumatoid Arthritis is valued at .31 billion in 2017. Rheumatoid Arthritis market is expected to grow at a CAGR of 4.5% in order to achieve .72 billion by 2023. According to the Arthritis Foundation, RA affects about 1.5 billion people in the U.S. every year. This growing autoimmune disease has increased the value of new techniques and developments. Osteoporosis is the second leading disorder that was valued at .84 billion in 2017 and is estimated to grow at a CAGR of 3.4% to reach revenue of .08 billion by 2023. Osteoarthritis is expected to witness the fastest growth in musculoskeletal diseases market type. The market earlier was .70 billion in 2017 and is estimated to grow at a CAGR 8.60% to reach revenue of .25 billion by 2023. Psoriatic Arthritis, Ankylosing Spondylitis, Fibromyalgia and others are the disorders that are growing at a CAGR of 7.40%, 4.40% and 2.50% respectively. Hospitals, clinics, diagnostics centers, nursing homes, and individual patents are the major end users involved.

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Excerpts on Market Growth Factors

Growing healthcare costs coupled with increased research and development, especially in the western countries is driving musculoskeletal diseases market.
Innovation in new musculoskeletal disease therapeutics techniques and treatments with continuous clinical trials for the treatment of musculoskeletal disorders is propelling the market.
The market will also be influenced by the increasing need for the development of biologics drugs that can enhance the bone density and rebuild the loss of its strength.

Key players of the Musculoskeletal Diseases Market

Stryker Corporation, Medtronic, Johnson & Johnson, Zimmer Biomet Holdings, Inc., and Smith & Nephew Plc. are considered to be the dominant players in the present market with an overall share of 54.63%. Smith & Nephew Plc. Offered advanced wound management, orthopedic reconstruction, sports medicine and Trauma and extremities. Johnson & Johnson offered Consumer, Medical Devices, Janssen Vision Care. Medtronic offered surgical Technology, Cardiovascular Diabetes, Spinal & Orthopedic Digestive & Gastrointestinal. The service offered is STELARA, and SIMPONI/ SIMPONI ARIA. Till now, the overall musculoskeletal system market has 223 patents, where utilization of 46 is the highest in the past 3 years.

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