The size of the Europe Musculoskeletal Diseases Market is estimated to be growing at a healthy CAGR from 2021 to 2026. The European Musculoskeletal Diseases market is developing at a rapid pace.
The market for musculoskeletal diseases in the European region is projected to be fuelled by improving the quality of life in the geriatric population, increasing healthcare expenditure. Also, the technological advancements in orthopedic products devices are expected to influence the market growth. In addition, increasing investment and funding by the government and private organizations provide lucrative opportunities for healthcare suppliers and providers. However, the growing demand for physical, occupational, and medical therapies is expected to propel market growth. Furthermore, the growth in the elderly population and an increase in orthopedic physicians specializing in sports medicine, joint, hand, and spine replacement are driving the European musculoskeletal medicine market.
On the other hand, the market will be influenced by the growing demand for medications that may improve bone density and rebuild lost bone and strength, fuelled by the lack of a good cure for psoriatic arthritis. Musculoskeletal disorders are the sixth leading cause of mortality due to disability, as per the World Health Organization. In both industrialized and developing nations, one out of every four persons suffers from chronic musculoskeletal damage. Thus, musculoskeletal disorders are a serious health concern in the healthcare system that affects the general public. These diseases demand a significant amount of healthcare resources, accounting for about a quarter of the total cost of illness in developed countries. Musculoskeletal problems are also the most prevalent cause of physical impairment in people who suffer from severe long-term pain.
The European Agency for Safety and Health at Work (EU-OSHA) recommends a series of preventive actions that include developing ergonomic solutions to reduce risk factors such as proper tool use and ergonomic design, ergonomic workstation layout, and the physical work environment, optimized manufacturing configuration, appropriate product design, and the ergonomic pattern of the activity implying alternation of repetitive and non-repetitive tasks for employee awareness.
However, the primary concern for the hospitals is that the risk of side effects of the musculoskeletal disease treatment hinders the market growth. In addition, the high cost of musculoskeletal disease medication research and development, as well as stringent government rules and a complicated government approval procedure, are likely to impede the market growth.
This research report on the European Musculoskeletal Diseases market has been segmented and sub-segmented into the following categories:
By Type of Molecules:
Geographically, the European market held the second most market share in the global Musculoskeletal Diseases Market in 2020. The growth in the number of orthopedic specialists specialized in sports medicine, joint, hand, and spine replacement is driving the European musculoskeletal medicine market. In addition, other factors such as the willingness to live longer, availability of treatment options, and growing awareness among the people about the disease are augmenting the market growth. The developed countries such as Germany, UK, France, Spain, and Italy are expanding the European regional market growth. Over the forecast period, Germany recorded a significant share in the Musculoskeletal Diseases Market with a substantial market share. The factors such as Increasing awareness among people regarding the disease and its treatment options and willingness to live longer are also factors contributing to the market's growth.
Similarly, the UK is anticipated to witness a significant share in the coming years due to the government's technological advancement and favorable reimbursement policies. Again, advanced academic training for musculoskeletal medicine specialists such as medical physicians, nurses, occupational therapists, physiotherapists, and other allied healthcare professionals, community practitioners, and researchers is projected to strengthen the field.
On the other hand, Italy, France, and Spain are likely to showcase a moderate share and expanding European regional market growth. The increasing prevalence of bone disorders and joint-related injuries is another factor driving the demand for musculoskeletal drugs across these countries.
KEY MARKET PLAYERS:
AbGenomics International, AB Sciences, Ablynx, Akron Molecules, Johnson & Johnson, F. Hoffmann-La Roche, Pfizer, Eli Lilly, Adheron, Alder BioPharmaceuticals, Bioiberica, Bone Therapeutics, Edding Pharm, Boehringer Ingelheim, Can-Fite BioPharma, Celltrion, Celgene Corp., Cellular Biomedicine, ChemoCentryx, Cerapedics, Eupraxia Pharmaceuticals, and GlaxoSmithKline are the some of the key players in the Europe Musculoskeletal Diseases market.