increasing geriatric population is driving the Musculoskeletal Drugs Market
Technavio analyzes that the Musculoskeletal Drugs Market is expected to grow at a CAGR of 5.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 26370.8 million.There are various factors that contribute to the growth of the market. The musculoskeletal drugs market is experiencing significant growth due to the increasing geriatric population. With aging comes an increased prevalence of musculoskeletal disorders such as osteoporosis, arthritis, and musculoskeletal pain. These conditions require effective treatment, leading to a rising demand for musculoskeletal drugs. Manufacturers are responding with innovative solutions, including biologics and advanced pain management therapies, to address this growing market need. The global musculoskeletal drugs market is projected to reach substantial growth in the coming years, driven by this demographic trend and advancements in drug development.
In the realm of musculoskeletal disorders (MSDs), smooth muscle relaxants and non-steroidal anti-inflammatory drugs (NSAIDs) are indispensable therapeutic agents. NSAIDs, including over-the-counter (OTC) options such as Acetaminophen, and prescription medications like Carisoprodol, Chlorzoxazone, Cyclobenzaprine, Metaxalone, inhibit prostaglandin production, thereby alleviating pain and inflammation. NSAIDs cater to both acute and chronic MSDs, available in various forms, and offer customized treatment plans based on individual patient requirements. Notable NSAIDs include Ibuprofen, Naproxen, Diclofenac, and Celecoxib, each with distinct dosing regimens and durations of action.
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Musculoskeletal Drugs Market Segmentation
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The Musculoskeletal Drugs Market offers various resources for individuals dealing with muscle-related symptoms, including home remedies, community webinars, and a newsletter. For those with axial spondyloarthritis (axSpA), there's a self-care plan and translated information available. Financial assistance, a helpline, and MHA Kids are also provided. Prescription medications like antispasmodics, antispastics, skeletal muscle relaxants, and smooth muscle relaxants are available, as well as over-the-counter options such as Acetaminophen and Carisoprodol. Healthcare providers can be consulted for spasticity, spasms, and musculoskeletal pain. The Market also provides opportunities for bequests, donations, and access to prescription medications.
The musculoskeletal drugs market is a significant segment of the global pharmaceuticals industry, encompassing companies involved in the research and development or production of various drug categories, including generic, non-generic, and veterinary drugs. According to Technavio, the healthcare market size is determined by the consolidated revenue generated by manufacturers and providers of medical equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. The global pharmaceuticals market expansion will be fueled by several key factors, including the increasing aging population. By 2050, approximately one-quarter of the US population and Europe's population ratio is projected to be over 60 years old, necessitating a greater demand for musculoskeletal drugs to address age-related health concerns. Other factors contributing to market growth include home healthcare solutions, advancements in technology, and increasing healthcare expenditures.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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