According to The Insight Partners market research study titled ‘Musculoskeletal Diseases Treatment Market to 2025 – Global Analysis and Forecasts by Disease and Imaging Modality. The global musculoskeletal diseases treatment market is expected to reach US$ 5,730.8 Mn in 2025 from US$ 3,837.9 in 2017. The musculoskeletal diseases treatment market is estimated to grow with a CAGR of 5.3% from 2018-2025.The report highlights the trends prevalent in the global musculoskeletal diseases treatment market and the factors driving the market along with those that act as deterrents to its growth.
Global musculoskeletal diseases treatment market, based on the disease into arthritis, osteoarthritis, osteoporosis, spondylitis, and others. The arthritis is the largest segment among the disease segment in the musculoskeletal diseases treatment market in 2017 and is also anticipated to hold the largest market in the year 2025 owing to the increasing prevalence of the disease and the higher acceptance of the population for the MRI for the diagnosis. However, the spondylitis segment is fastest growing segment and is accounted to grow at the highest CAGR during the forecast period.
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The major players operating in the musculoskeletal diseases treatment market include General Electric, Koninklijke Philips N.V., Siemens AG, Canon Medical Systems Corporation, Hitachi, Ltd., Accuray Incorporated, MR Solutions, Alltech Medical Systems, Terason Division Teratech Corporation, and Echo-Son SA. For instance, in September 2018, Royal Philips launched the Ingenia Ambition X 1.5T MR. The product is the latest advance in the Ingenia MRI portfolio, that comprises fully-digital MRI systems, healthcare informatics and a range of maintenance and life cycle services for integrated solutions that empower a faster, smarter, and simpler path to enabling a confident diagnosis. The developments performed by the companies are helping the market to grow in the coming years.
The market for musculoskeletal diseases treatment is expected to grow due to rising prevalence of musculoskeletal disorders, increasing elderly population, and technological advancements in musculoskeletal disease diagnosis are boosting the market over the years. In addition, the development of hybrid diagnostic systems are likely to have a positive impact on the growth of the market in the coming years.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas the market is expected to witness growth at a significant rate in Asia Pacific (APAC) region during the forecast period. It is expected that major chunk of the demand is expected to generate from the above mentioned countries. Additionally, factors such as increasing focus of global industry players in India and Japan, funds in China are likely to propel growth of the market.
For instance, in June 2018, Konica Minolta Healthcare Americas, Inc., launched the SONIMAGE MX1 portable ultrasound system, developed for musculoskeletal (MSK) and orthopedic practices, interventional guidance and outpatient centers. SONIMAGE MX1 is made with power, portability that physicians need to make a confident and efficient diagnosis at the point-of-care. In March 2018, Philips introduced a new 3-tesla MRI scanner named Ingenia Elition 3.0T at the ECR 2018 in Vienna. Thus, the innovative steps and technological advancements undertaken by new entrants as well as established market players to improve the quality and efficacy of musculoskeletal diseases treatment scans is expected to favor the growth of the market in the years to come.
The report segments the global musculoskeletal diseases treatment market as follows:
Global Musculoskeletal Diseases Treatment Market – By Disease
Global Musculoskeletal Diseases Treatment Market – By Imaging Modality
Magnetic Resonance Imaging (MRI)
Computed Tomography (CT)
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