Major companies in the musculoskeletal disorder drugs market include Sanofi S. A, Pfizer Inc., Bristol-Myers Squibb, Eli Lilly And Company, Mitsubishi Tanabe Pharma Corporation, Horizon Therapeutics plc.
New York, March 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Musculoskeletal Disorders Drugs Global Market Report 2022” – https://www.reportlinker.com/p06241977/?utm_source=GNW
Procter & Gamble, Eisai Co. Ltd., Biogen Inc. and Sino Biopharmaceutical.
The global musculoskeletal disorders drug market is expected to grow from $97.45 billion in 2021 to $104.03 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $126.34 billion in 2026 at a CAGR of 5.0%.
The musculoskeletal disorder drugs market includes sales of musculoskeletal disorder drugs and related services by entities (organizations, independent marketers and partnerships) that produce musculoskeletal disorder drugs to treat disorders musculoskeletal conditions such as arthritis, osteoporosis, osteomalacia and other disorders. This industry includes establishments that produce drugs to treat rheumatoid arthritis, muscle relaxants to reduce muscle pain, and other drugs used in the treatment of osteoarthritis, painkillers, immunosuppressants.
Some of the major drugs on the market include Piroxicam Glaxo, Dolonex, Felden and Piroxicam Pfizer.
The main types of musculoskeletal medications are rheumatoid arthritis medications, muscle relaxants, and other musculoskeletal medications. A muscle relaxant is a drug that causes muscle contractions to stop.
Medicines are available as pharmaceutical drugs and biologics. Drugs are administered orally, parenterally and others which are classified into branded and generic drugs.
The various modes of purchase include prescription drugs and over-the-counter drugs that are dispensed by hospital pharmacies, retail pharmacies/pharmacies and others.
North America was the largest region in the musculoskeletal disorder drug market in 2021. Middle East is expected to be the fastest growing region during the forecast period.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The aging demographic profile of most countries has contributed to the growth of the musculoskeletal disorder drug market. The increase in the number of patients owing to the increasing geriatric population globally has contributed significantly to the growth of the market over the historical period.
According to the WHO, by 2030, one in six people on the planet will be 60 or older. The proportion of the population aged 60 and over will increase from 1 billion in 2020 to 2.1 billion by 2050. This increase in the geriatric population has increased the demand for medical care and boosted healthcare spending. This has led to increased demand for pharmaceuticals, which has had a significant impact on the growth of the market during this period.
Regulatory changes are likely to result in increased costs related to the development of new products and service offerings to customers. These changes are related to data protection such as the European Union’s General Data Protection Regulation (GDPR), changes to drug approval procedures and other regulatory changes.
For example, according to a study of 100 data privacy and security statistics for 2020, GDPR compliance is a top priority for 58% of European businesses. The GDPR Regulation is an EU data protection and privacy law for individuals residing in the European Union and the European Economic Area (EEA).
It also regulates the anonymization of data, thereby maintaining the integrity of data regarding patients and other clinical trial studies. Potential loss of revenue due to product launch delays and additional costs incurred due to stringent approval processes puts a strain on new product development investments, thus affecting the growth of the musculoskeletal disorder drug market -skeletal.
Going forward, the market for muscle relaxants is expected to rise with the rise of combination therapy. Combination therapy involves the use of more than one drug or drug to treat a disease.
These combination therapies reduce the frequency of drug administration. For example, in May 2019, Galt Pharmaceuticals submitted an abbreviated supplemental new drug application to the United States Food and Drug Administration for Orphegesic Forte, an oral formulation of aspirin, caffeine, and orphenadrine for the treatment of pain caused by musculoskeletal disorders.
The countries covered in the Musculoskeletal Disorder Drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Republic Czech, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland. , Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06241977/?utm_source=GNW
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