Global Musculoskeletal Diseases Market: Overview
Of late, the global musculoskeletal diseases market has been witnessing a tremendous rise in its size as well as valuation. Researchers predict this scenario to remain so over the forthcoming years, thanks to a substantial increase in the prevalence of musculoskeletal disorders across the world. In addition to this, the ample presence of unmet medical needs, specifically in emerging economies, will boost the demand for musculoskeletal disease therapeutics in the near future.
Going forward, the market will also be influenced by the increasing need for the development of drugs that can enhance the bone density and rebuild the lost bone and its strength, fueled by the absence of a proper cure for psoriatic arthritis.
In this research report, the global musculoskeletal diseases market has been examined with a microscopic view. It attempts to present an in-depth assessment of this market on the basis of its past performance and its current status. The recent trends and the growth opportunities within this market have also been studied thoroughly to determine its future status in this market study.
Global Musculoskeletal Diseases Market: Trends and Opportunities
Rheumatoid arthritis, osteoporosis, osteoarthritis, psoriatic arthritis, fibromyalgia, and ankylosing spondylitis are the main musculoskeletal diseases prevalent across the world. Among these, rheumatoid arthritis has been registering a higher prevalence rate and thus, has emerged as the market leader. This chronic inflammatory autoimmune disease is highly prevalent among adults within the age group of thirty to sixty years. With the increasing base of geriatric population, researchers expect this segment to remain dominant over the next few years.
The prime type of molecules used in the production of musculoskeletal disease therapeutics are biologics and small molecules. The biologics segment has acquired a larger share in the overall market. The complex structure of biologics, which does not permit easy identification or characterization, is the main factor behind the growth of this segment. However, other characteristics, such as thermo-labiality and susceptibility to microbial contamination, may limit the adoption of biologics to some extent in the years to come.
Muscle relaxants, anti-inflammatory drugs, analgesics, immunosuppressives, antipyretics, and corticosteroids have surfaced as the most demanded drugs for the treatment of musculoskeletal diseases across the world and are expected to experience strong growth over the next few years.
Global Musculoskeletal Diseases Market: Geographical Analysis
North America, Asia Pacific, Europe, and the Rest of the World have been identified as the prominent geographical segments of the global musculoskeletal diseases market. According to researchers, North America, which has been dominating this market since the past few years, is likely to retain its position in the near future. The increased uptake of the existing biologic drugs for the treatment of various musculoskeletal diseases, the introduction of novel biologics, and the enhanced access to medical and healthcare facilities are some of the factors that are expected to drive the North America musculoskeletal diseases market in the coming years.
In addition to this, the essential healthcare benefits offered by employer-sponsored health insurance plans and the increasing investments by vendors in innovative and cost efficient drugs are also projected to support this regional market over the next few years.
Companies mentioned in this report
A large pool of players dominates the global market for musculoskeletal diseases, owing to which, this market demonstrates a highly fragmented and competitive landscape. At forefront of this market are AbbVie, Amgen, Johnson & Johnson, F. Hoffmann-La Roche, Pfizer, and Eli Lilly.
To gain a competitive advantage, these companies are aggressively focusing on developing cost-competitive drugs that are easy to administer and stimulate bone building effectively. The dearth of appropriate therapies and drugs are likely to create a lucrative growth opportunity for vendors in the near future.
Eisai, 3SBio, AbGenomics International, AB Sciences, Ablynx, Akron Molecules, Adheron, Alder BioPharmaceuticals, Ampio Pharmaceuticals, Astellas, Antares Medical Services, AstraZeneca, Biocad, Baxter, Bioiberica, Bone Therapeutics, Edding Pharm, Boehringer Ingelheim, Can-Fite BioPharma, Celltrion, Celgene Corp., Cellular Biomedicine, ChemoCentryx, Cerapedics, Chugai Pharmaceutical, Daiichi Sankyo, Coherus Biosciences, Dong-A ST, Eupraxia Pharmaceuticals, and GlaxoSmithKline are some of the other prominent participants of this market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.