Market Overview
The global musculoskeletal diseases treatment market size was valued at US$ XX million in 2023 and is estimated to reach US$ XX million by 2030, growing at a CAGR of 4.8% during the forecast period (2023-2030).
Muscle, bone, joint, and nearby connective tissue dysfunction resulting in temporary or permanent restrictions in functioning and involvement make up over 150 different diseases and conditions known as musculoskeletal impairments. Major musculoskeletal diseases are more expensive to treat than other common medical conditions because they frequently cause long-term pain and disability.
Market Dynamics
The major factors driving the global musculoskeletal diseases treatment market are due to the market is primarily being driven by a rise in the number of musculoskeletal diseases, technological developments in the treatment of musculoskeletal diseases and increasing public awareness of the rate of musculoskeletal diseases.
The market is primarily being driven by a rise in the number of musculoskeletal diseases is expected to drive the market’s growth.
World Health Organization estimates that 1.71 billion people worldwide will suffer from musculoskeletal diseases in 2022. 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. The number of people with musculoskeletal diseases and related functional restrictions is constantly rising due to population expansion and aging.
Over 20 million people in the UK (approximately a third of the population), according to versus arthiritis 2021, suffer from musculoskeletal (MSK) conditions like arthritis and low back pain. Patients with MSK diseases like arthritis usually suffer pain, which is one of the main symptoms of these conditions, in addition to fatigue, stiffness, and a loss of movement and dexterity. As a result, key players in developing nations have significant advantages in leading the market by adopting musculoskeletal illness treatment.
The high cost of treatment could slow market expansion.
The market is anticipated to be hampered by expensive R&D expenses and a complicated government process. Additionally, the hospitals' main fear is that the potential for side effects from the treatment of musculoskeletal diseases would halt the market.
COVID-19 Impact Analysis
Globally, the COVID-19 pandemic had a detrimental effect on healthcare systems. Many industry players' activities and financial results have been impacted by the Pandemic and the gradually declining of activities. Additionally, in the first half of 2020, the market for the treatment of musculoskeletal diseases was significantly impacted by the COVID-19 epidemic. During the Pandemic's early stages, the distribution network was hampered by the rapid implementation of lockdown. Furthermore, while the globe concentrated on the virus-fighting effort, treatments for musculoskeletal diseases were suspended or delayed. The typical COVID-19 manifestations, which can mimic the symptoms of rheumatic and musculoskeletal diseases, make it difficult to treat these conditions appropriately and optimally.
Additionally, the side effects of the various antiviral medications used to treat COVID-19 infection further complicate matters. However, the market gradually recovered following the lockdown, which increased the demand for medications for musculoskeletal disorders and strengthened the supply chain. In addition, pharmaceutical companies are developing advanced disease medications to encourage patients to choose more effective therapies.
Segment Analysis
The arthritis segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Arthritis is the most prevalent disease type in the musculoskeletal disease treatment market. Inflammation of one or more joints, such as the knees, knuckles, wrists, or ankles, is known as arthritis or joint disease. Joint pain, edema, and stiffness can develop as arthritis progresses from its first stage of joint inflammation. The CDC estimates that approximately 58.5 million Americans, or one out of four US adults (23.7%), have arthritis that a doctor has officially diagnosed.
Women are more likely to have arthritis (23.5%) than men (18.1%), it is more prevalent in adults with fair or poor health (40.5%) than in adults with excellent or very good health (15.4%), and it is less prevalent in adults who meet physical activity guidelines (18.1%) than in adults who are insufficiently active or inactive (23.1% and 23.6%, respectively). Age is a factor in the prevalence of arthritis. Drugs frequently treat arthritis because they can lessen inflammation and persistent pain. Anti-inflammatory drugs sold over the counter and painkillers may reduce arthritic discomfort. Corticosteroids can lower inflammation and suppress the immune system.
Geographical Analysis
North America holds the largest market share in the global musculoskeletal diseases treatment market.
North America dominates the global musculoskeletal diseases treatment market has a major influence on adopting various medical procedures. The treatment of musculoskeletal diseases market is growing in North America due to the rising prevalence of inflammatory bowel diseases and the availability of more hospitals and improved diagnostics facilities. The United States Bone and Joint Initiative (USBJI) predicts that by 2040, 1 in 5 U.S Americans will be 65 or older, roughly equaling the proportion of people in that age group.
Nearly two-thirds of people with arthritis are under 65, even though one in two adults aged 65 and older already has some arthritis. 67 million persons are expected to have arthritis by the year 2030. Both inflammatory types of osteoarthritis and inflammatory forms of arthritis are more common in women. Additionally, over the next few years, it is anticipated that the critical healthcare benefits provided by employer-sponsored health insurance plans and the growing investments by vendors in cutting-edge and affordable medications will boost this regional market.
Competitive Landscape
The musculoskeletal diseases treatment market is moderately competitive with local and global companies’ presence Pfizer, Koninklijke Philips, Siemens, Canon Medical Systems, Hitachi, Shimadzu, Fujifilm, Toshiba, Accuray, MR Solutions, Globus Medical and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth.
Globus Medical Inc.
Overview: A manufacturer of medical devices, Globus Medical Inc. (Globus) creates and markets healthcare products for persons with musculoskeletal diseases. The business provides surgical instruments, biologics, accessories, and implanted devices for various spinal, orthopedic, and neurosurgery treatments. Ankle fracture system, clavicle fracture system, distal radius fracture system, proximal tibia fracture system, and small fragment fracture system are some of its main offerings. Additionally, it provides clever computer-assisted systems intended to enhance surgeons' capabilities and simplify surgical procedures.
Product Portfolio:
ANTHEM Ankle Fracture System: Three types of distal fibula plates are available with contours to match patient anatomy and minimize the need for intraoperative bending. Low profile plates are designed for minimal screw prominence to help reduce soft tissue irritation. Clamps designed specifically for ankle anatomy facilitate fracture reduction. Radiolucent Weitlaners and retractors aid in fracture site visibility.
The global musculoskeletal diseases treatment market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.