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 $23.35 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 $3.68 billion by 2023.The global [FURL=https://industryarc.com/]Musculoskeletal Diseases Market[/FURL] is valued at $57.4 billion mark in 2017 and is estimated to grow at a CAGR of more than 5.5% during 2018 to 2023. By treatment Biological treatment for musculoskeletal diseases held a major share of more than 46% and is estimated to grow at a CAGR of 6.7% during 2018-2023.
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.
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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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