Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Global Musculoskeletal Disorders Drugs Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Route of Administration (Parenteral and Oral), By Drug Type (Analgesics, DMARDs, Corticosteroids), By Regional Outlook and Forecast, 2023 - 2029" report has been added to ResearchAndMarkets.com's offering.
The global Musculoskeletal Disorders Drugs Market is set to witness significant expansion, projected to reach a substantial value of $109.4 billion by 2029, with a steady Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period.
The Asia Pacific region is anticipated to play a pivotal role in driving market growth, led by countries like China, Japan, and India, with an estimated 2/5th share of the market by 2029.
Factors like an aging population in these countries contribute to this growth, with over 60% of Japan's population aged 30 and above. The rise in life expectancy and aging population leads to a surge in musculoskeletal diseases, boosting the demand for treatments and subsequently propelling market expansion.
Market Insights
Musculoskeletal disorders are pervasive and are influenced by various factors. The major strategies pursued by market participants include partnerships to cater to evolving user demands.
For instance, in January 2022, Johnson & Johnson Medical Devices collaborated with Microsoft to expand its digital surgery ecosystem. Pfizer's collaboration with Sirana Pharma is investigating treatments for rare bone diseases through microRNA targeting approaches.
Market Competition Analysis
Leading the market are Johnson & Johnson, Novartis AG, and Pfizer, Inc. Pfizer's acquisition of Arena Pharmaceuticals aims to enhance Pfizer's Immunology and swelling healing area, contributing to the advancement of immuno-inflammatory illness treatment. Other key innovators include AbbVie, Inc., Amgen, Inc., and UCB S.A.
Impact of COVID-19
The COVID-19 pandemic caused supply chain disruptions across industries, including healthcare. This impacted the musculoskeletal disorders drugs market, leading to a temporary decline. However, a rebound is anticipated as the pandemic recedes and the market is expected to grow steadily in the coming years.
Market Growth Factors
- High Prevalence of Musculoskeletal Diseases: Over 150 diseases and conditions fall under the category of musculoskeletal disorders, affecting individuals globally. The prevalence of these disorders, such as arthritis, osteoarthritis, and back pain, drives the demand for drugs and treatment options.
- Alcohol Consumption Impact: The link between joint diseases and alcohol consumption drives market growth. With rising alcohol consumption, the market is poised to expand as more individuals seek treatment for related disorders.
Market Restraining Factors
- Healthcare Professional Shortage: A projected shortage of healthcare professionals by 2035 could impact disease management and hinder the demand for associated medications.
Scope of the Study
- Distribution Channels: Drug Stores & Retail Pharmacies, Hospital Pharmacies, Online Providers
- Route of Administration: Parenteral, Oral
- Drug Types: Analgesics, DMARDs, Corticosteroids, Others
Key Market Players
Key companies profiled in the report include AbbVie, Inc., Amgen, Inc., Eli Lilly And Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., and UCB S.A.
For more information about this report visit https://www.researchandmarkets.com/r/b1c2jx
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