Musculoskeletal Diseases Treatment Market | Size, Share, and Forecast [2021-2031]
The musculoskeletal diseases treatment market size is projected to reach US$ 7.90 billion by 2031 from US$ 5.23 billion in 2023. The market is expected to register a CAGR of 5.30% during 2023–2031. Advances in imaging technology and rising interventional procedures are likely to remain key trends in the musculoskeletal disease treatment market.
Musculoskeletal Diseases Treatment Market Analysis
Musculoskeletal diseases refer to the group of disorders that adversely affect muscles, joints, bones, and other human body parts. Tendinitis, osteoarthritis, spondylitis, and osteoporosis are among the most common musculoskeletal diseases. Doctors often diagnose musculoskeletal diseases majorly based on the medical history of a patient or by performing several physical examinations. Key factors driving the musculoskeletal disease treatmentmarket are the rising prevalence of musculoskeletal disorders, the increasing elderly population, and technological advancements in musculoskeletal disease diagnosis. However, the high cost of diagnostic systems and the unavailability of skilled professionals hinder the growth of the market.
Musculoskeletal Diseases Treatment Market Overview
North America is the largest market for musculoskeletal disease treatments with the US holding the largest regional market share, followed by Canada. The market growth in North America is driven by the increasing demand for innovative products from ultrasound, PET, SPECT, and magnetic resonance imaging companies; the presence of key market players; and extensive R&D conducted by various academic and research institutes. Moreover, the rising focus on advanced method incorporation in healthcare, government and private initiatives for the promotion of early diagnosis, and massive funds from government and private bodies for musculoskeletal research contribute to revenue generation for the musculoskeletal diseases treatment market in North America. The revenue generation and the global economic position of North America in the global musculoskeletal diseases treatment market.
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Musculoskeletal Diseases Treatment Market: Strategic Insights
Market Size Value in US$ 3,837.9 Million in 2017 Market Size Value by US$ 5,730.8 Million by 2025 Growth rate CAGR of 5.3% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Musculoskeletal Diseases Treatment Market: Strategic Insights
| Market Size Value in | US$ 3,837.9 Million in 2017 |
| Market Size Value by | US$ 5,730.8 Million by 2025 |
| Growth rate | CAGR of 5.3% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Musculoskeletal Diseases Treatment Market Drivers and Opportunities
Rising Prevalence of Musculoskeletal Disorders Favors Market
Sports injuries, occupational injuries, and age-related dysfunction can cause musculoskeletal disorders. Back pain, rheumatoid arthritis, osteoarthritis, osteoporosis, septic arthritis, gout, myasthenia gravis, and systemic lupus erythematous (SLE) are among the most common musculoskeletal diseases. The musculoskeletal system is the diagnosis and management of all acute and chronic conditions adversely affecting the musculoskeletal system, including bones, muscles, tendons, joints, and ligaments, and the treatment of non-surgical lesions of the musculoskeletal system. Almost 300,000 babies and children are affected by arthritis or a rheumatic condition. The common type of arthritis is osteoarthritis, which affects ∼31 million Americans. By the end of 2040, number of people expected to have doctor-diagnosed arthritis will be above 78 million. Thus, the rising prevalence of musculoskeletal diseases drives the the musculoskeletal diseases treatment market growth.
Development of Hybrid Diagnostic Systems
Hybrid MRI systems refer to the process of complex minimally invasive imaging techniques that combine two modalities to provide information on the anatomy and physiology of the human body. The MRI can be combined with various other imaging techniques, including computed tomography (CT) and positron emission tomography (PET), or simple tools available for imaging, such as X-ray fluoroscopy. Multi-modal imaging has become specifically essential as modern diagnostic techniques are concentrated toward molecular and genetic levels. The combination of PET and MRI has proven to be highly successful over the past decade in basic clinical and preclinical research. These hybrids are progressing into clinical applications to provide insights into various medical conditions, diseases, biologic pathways, and therapeutic assessment.
Musculoskeletal Diseases Treatment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the musculoskeletal diseases treatment market analysis are disease and imaging modality.
- Based on disease, the musculoskeletal diseases treatment market is segmented into arthritis, osteoarthritis, osteoporosis, spondylitis, and others. The arthritis segment held the largest market share in 2023.
- By imaging modality, the market is segmented into magnetic resonance imaging (MRI), computed tomography (CT), ultrasound, and others. The computed tomography (CT) segment held the largest share of the market in 2023.
Musculoskeletal Diseases Treatment Market Share Analysis by Geography
The geographic scope of the musculoskeletal diseases treatment market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.
North America dominated the musculoskeletal diseases treatment market. For several millions of Americans, the quality of healthcare is symbolized by the quality of radiologic care available in their region. According to the American Society of Radiologic Technologists 2023, ∼275 million conventional radiology procedures are performed annually in the US. Government regulations are made to test and label the passive implants for safety and compatibility in the magnetic resonance (MR) environment. In the US, the Division of Radiological Health within the US Food and Drug Administration’s (FDA’s) Center for Devices and Radiological Health (CDRH) provides the safety and effectiveness of medical devices and the safety of radiation-emitting electronic products. Moreover, the US government has decided to tighten the reins of ultrasound machines and similar imaging equipment to prevent the abuse of these machines for sex selection and other issues.
Musculoskeletal Diseases Treatment Market Report Scope
Musculoskeletal Diseases Treatment Market News and Recent Developments
The musculoskeletal diseases treatment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the musculoskeletal diseases treatment market are listed below:
- Solera Health launched its new Musculoskeletal (MSK) offering through top digital MSK therapy solutions—SWORD Health, Kaia Health, and Sworkit. The company claims that its new MSK offering will address a continuum of musculoskeletal conditions through sub-clinical services spanning preventative wellness, injury, and chronic condition management, as well as preoperative and postoperative rehabilitation through its expanding network of top-notch, evidence-based digital interventions. (Source: Solera Health, Press Release, 2021)
Musculoskeletal Diseases Treatment Market Report Coverage and Deliverables
The “Musculoskeletal Diseases Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Musculoskeletal diseases treatment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Musculoskeletal diseases treatment market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Musculoskeletal diseases treatment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the musculoskeletal diseases treatment market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Disease ; Imaging Modality and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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