“Musculoskeletal Diseases Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments in the Musculoskeletal Diseases Market.
Musculoskeletal Diseases Market Size is estimated to reach $7.9 billion by 2027 and is poised to grow at a CAGR of 6.9% over the forecast period of 2022-2027. Musculoskeletal disorders (MSD) are injuries or disorders of the muscles, nerves, tendons, joints, cartilage, and spinal discs. The Department of Labor's Bureau of Labor Statistics defines MSDs as a musculoskeletal system and connective tissue diseases and disorders when the exposure or event that caused the condition was repetitive motion, overexertion, or bodily reaction such as bending, climbing, crawling, reaching, or twisting. Disorders caused by falls, trips, slips, and other similar events are not included in MSDs. The three most prevalent musculoskeletal diseases, according to reports published by bone and joint disease organizations, are arthritis, back pain, and trauma. Each year, patients seek treatment for these conditions in hospitals, emergency care, and physician practices.
Major musculoskeletal diseases are more expensive to treat than many other common medical conditions as they frequently cause long-term pain and disability. According to a recent review of Global Burden of Disease (GBD) 2019 data, 1.71 billion individuals worldwide suffer from musculoskeletal disorders such as rheumatoid arthritis, osteoarthritis, low back pain, neck discomfort, fractures, and other injuries. Such global prevalence of musculoskeletal disease and their increasing cases with most of population in majority of countries turns towards older age contribute to new research and development in musculoskeletal disease. Some major groups like Zimmer Biomet holdings, Inc., Stryker Corporation, Medtronic, Wright Medical group and others contribute to the growth of the Musculoskeletal Disease Industry over the forecast period 2022-2027.
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Musculoskeletal Diseases Market Report Coverage
The report : “Musculoskeletal Diseases Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments in the Musculoskeletal Diseases Market.
By Type : Rheumatoid Arthritis, Osteoarthritis, Osteoporosis, Psoriatic Arthritis, Ankylosing Spondylitis, Fibromyalgia, Tendinitis, Carpel tunnel syndrome, Bone fractures, Osteomalacia, and Others.
By Medication : Acetaminophen, Nonsteroidal anti-inflammatory drugs (NSAIDs), Anti-neuropathic pain medications, Corticosteroids, Biologics and biosimilars, Osteoporosis medications, Gout medications, Fibromyalgia medications, and Others.
By Treatment: Biologics, Corticosteroids, Parathyroid Hormone, Protein Therapy, Selective Estrogen Receptor Modulators, Synthetic Bone Graft, Composite Grafts, Demineralized Bone Matrix, BMPS, Therapeutic massage, and Others.
By Musculoskeletal System : Joints, Ligaments, Muscles, Nerves, Tendons, Cartilage, and Spinal discs.
By End Users : Hospitals, Diagnostics Centers, Urgent Care Centers, Physiotherapy, and Clinics.
By Distribution Channel : Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, and Others.
By Geography : North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).
Key Takeaways
- Geographically, North America held a dominant market share in the year 2021, owing to the increasing prevalence of Inflammatory Bowel Diseases, and developed healthcare facilities assist the growth of the Musculoskeletal Diseases Market Size in this region.
- The rising awareness about the musculoskeletal disease among the population drives the growth of the Musculoskeletal Diseases Market Size.
- However, the high price of treatment may limit market growth over the forecast period 2022-2027.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Musculoskeletal Diseases Market Report.
Musculoskeletal Diseases Market: Market Share (%) by region, 2021.
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Musculoskeletal Diseases Market Segment Analysis- By Type
The Musculoskeletal Diseases Market based on type can be further segmented into Rheumatoid Arthritis, Osteoarthritis, Osteoporosis, Psoriatic Arthritis, Ankylosing Spondylitis, Fibromyalgia, Tendinitis, Carpel tunnel syndrome, Bone fractures, Osteomalacia, and Others. Rheumatoid Arthritis held a dominant market share in the year 2021. This is owing to the growing prevalence of rheumatoid arthritis over the globe. According to the arthritis organization about 1.5 million people in the United States living with rheumatoid arthritis in 2021. As per World Health Organization, in 2021, about 14 million people are living with rheumatoid arthritis. Such a growing prevalence of rheumatoid arthritis drives the growth of the Musculoskeletal Disease Market Share.
However, Bone Facture is estimated to grow with the fastest CAGR rate of 7.8% over the forecast period 2022-2027. This is the result of the rising number of road accidents, worksite injuries and violence around the world. As per Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2019, about 178 million new facture cases, 455 million prevalent cases of acute or long-term symptoms of a fractures, and 25.8 million Years Lived with Disabilities (YLDs) were reported. Osteoporosis is also leading cause of bone factures and responsible for 8.9 million factures annually according to Bone Health 2022 report published in Taylor & Francis Online Journal. Such growing cases of bone fractures fuels growth of Musculoskeletal Disease Market Share over the forecast period 2022-2027.
Musculoskeletal Diseases Market Segment Analysis- By End Users
Musculoskeletal Diseases Market based on the end users can be further segmented into Hospitals, Diagnostics Centers, Urgent Care Centers, Physiotherapy, and Clinics. The Hospitals segment held a dominant market share in the year 2021. This is the result of growing number of hospitals chain and better healthcare infrastructure all over the world. Also, a growing number of specialty orthopedic hospitals assist the growth of the market. The U.S News and World Report Assessed 1660 hospitals for 2021-22 rankings with Hospitals for special surgery. Such a growing number of specialty hospitals and increasing spending on health care infrastructure drive the growth of the Musculoskeletal Disease Market share.
However, Urgent Care Centers is estimated to grow with the fastest CAGR rate of 7.4% over the forecast period 2022-2027. This is owing to the increasing number of urgent care centers across the globe. As a musculoskeletal disease covered a broad range of sub diseases like rheumatoid arthritis, osteoarthritis, osteoporosis, spondylitis, fibromyalgia, arthralgia, and others. According to an EpiCast report the U.S, has the highest number of diagnosed prevalent cases of ankylosing spondylitis, with 608,813 diagnosed prevalent cases in 2022. Also, as per arthritis statistics by single care 2022, more than 350 million people have arthritis globally in 2021, and Fibromyalgia affects 4 million U.S. adults, and 60% of people who have arthritis are between the ages of 18 and 64 as per the data published by Center for Disease Control Prevention in 2020. Such factors create global demand for Musculoskeletal Disease Market Share over the forecast period 2022-2027.
Musculoskeletal Diseases Market Segment Analysis- By Geography
The Musculoskeletal Diseases Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 32% in the year 2021. This is owing to growing prevalence of disease like rheumatoid arthritis, osteoarthritis, osteoporosis, spondylitis, fibromyalgia, arthralgia, and others in this region. Musculoskeletal disorders account for nearly 70 million physician office visits in the United States annually, and an estimated 130 million total health care encounters including outpatient, hospital and emergency room visits.
Musculoskeletal diseases affect more than one out of every two persons in the United States age 18 and over, and nearly three out of four age 65 and over according to bone and joint organization. The Institute in Medicine estimates the economic burden of WMSDs as measured by compensation costs, lost wages, and lost productivity, is between $45 and $54 billion annually. According to Liberty Mutual, the largest workers’ compensation insurance provider in the United States, overexertion injuries—lifting, pushing, pulling, holding, carrying or throwing an object—cost employers $13.4 billion every year. Such a growing burden of musculoskeletal disease drives the growth of the Musculoskeletal Disease Market Size.
Europe is estimated to grow with the fastest CAGR rate of 8.1% over the forecast period 2022-2022. This is owing to the increasing burden of musculoskeletal diseases in European countries. According to ‘Versus Arthritis’, over 20 million people in the UK which is around a third of the population) live with musculoskeletal (MSK) disease, such as arthritis and low back pain. In England about 17.1 million people, in Scotland 1.7 million, in Wales 974000, and in Northern Ireland 525000 people were affected with musculoskeletal diseases. Such a growing number of cases of musculoskeletal diseases in the European Region fuel the growth of the Musculoskeletal Diseases Market Size over the forecast period 2022-2027.
Musculoskeletal Diseases Market Drivers :
Growing Population of Elderly Peoples Drives the Market Growth.
With the rising population going towards older age and increasing disabilities with increasing age aid market growth. In the majority of nations around the world, most populations are growing towards elder age. Musculoskeletal diseases most prevalently occur above 60 age. One in six persons will be 60 or older by 2030, according to the World Health Organization. Additionally, the Statistics Bureau of Japan reports that in a nation like Japan, where the oldest population in the world resides, up to 29% of the total population are over 65 years old in May 2022. Also, as per World Health Organization (WHO), the share of the population aged 60 years and older will increase from 1 billion in 2020 to 1.4 billion by 2050. Such an increasing elderly population and a growing chance of musculoskeletal diseases in the elderly population fuel growth of the Musculoskeletal Disease Industry.
Growing Number of Musculoskeletal Related Disease Aid Market Growth.
With the increasing prevalence of musculoskeletal disease, there is a significant rise in diseases like, rheumatoid arthritis, osteoarthritis, osteoporosis, spondylitis, fibromyalgia, arthralgia & others; and their increasing number of cases assist growth of the market. According to Medicine Matters, prevalence of osteoarthritis is increased in 204 countries and territories; the study found that in 2019, there were 527.81 million prevalent cases of osteoarthritis globally, and the prevalence is higher in women than men, in women, it is 317.44 million cases in 2019 & in men 210.37 million cases in 2019. Such a growing prevalence of musculoskeletal related disease fuel growth of the Musculoskeletal Disease Industry.
Musculoskeletal Diseases Market Challenges :
High Price of Treatment for Orthopedic Disease is Hampering Market Growth.
In developing countries, the cost of treatment for the orthopedic disease is high in comparison to developed countries. The average cost per patient stayed in King Fahd Central hospital (KFCH) was Saudi Riyal (SAR) 19,034, with the highest cost of SAR 108,561 for patients in the orthopedic ward as per research paper published in the Saudi Journal of Biological Sciences in January 2021. external fixators (EFs) has high range of orthopedic applications. Over 50% of the world’s traumatic injuries occur in low and middle-income countries and external fixation techniques are widely utilized for fracture stabilization in developing countries due to increasing trauma accidents. The mean total cost per patient for EF was $559?±?70.5 in Tanzania. Such a high cost of treatment may stymie the growth of the Musculoskeletal Disease Market over the forecast period 2022-2027.
Musculoskeletal Diseases Market Industry Outlook :
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Musculoskeletal Diseases Market. The top 10 companies in the Musculoskeletal Diseases Market are:
- Zimmer Biomet Holdings, Inc.
- Stryker Corporation
- Medtronic
- Sanofi S.A
- Bristol-Myers Squibb
- Eli Lilly And Company
- Mitsubishi Tanabe Pharma Corporation
- Horizon Therapeutics plc
- Procter & Gamble
- Eisai Co. Ltd
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Recent Developments
- In July 2022, Mitsubishi Tanabe Pharma Corporation and Eli Lilly Japan announced that the two companies signed a sales collaboration agreement in Japan for Trizepatide which is under development by Eli Lilly Japan. Tirzepatide (injection) is a novel once-weekly GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist that integrates the actions of the GIP and GLP-1 incretins into a single molecule, representing a new class of medicines being developed for the treatment of type 2 diabetes by Eli Lilly Japan.
- In January 2022, Bristol-Myers Squibb announced definitive merger agreement to acquire Turning Point Therapeutics, a clinical-stage precision oncology company with a pipeline of investigational medicines designed to target the most common mutations associated with oncogenesis for $76 per share. This acquisition helps to expand leading oncology franchise of Bristol-Myers Squibb by adding best-in-class, late-stage precision oncology assets.
- In January 2022, Stryker, announced a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc. for $79.25 per share, or a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion.
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