Musculoskeletal Disorders Drugs Market to Reach $126 Billion, Globally, by 2032 at 4.2% CAGR: Allied Market Research

Portland, OR, May 12, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Musculoskeletal Disorders Drugs Market by Drug Type (Analgesics, DMARDs, Corticosteroids, and Others), by Route of Administration, (Oral, and Parenteral), and by Distribution Channel, (Hospital Pharmacies, Online Providers, and Drug Stores & Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global musculoskeletal disorders drugs industry generated $83.5 billion in 2022, and is anticipated to generate $126 billion by 2032, witnessing a CAGR of 4.2% from 2023 to 2032.

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Prime determinants of growth

High prevalence of musculoskeletal (MSK) disorders, surge in geriatric population across the globe and increase in number of pipeline drugs drive the growth of the global musculoskeletal disorders drugs market. However, the lack of access to treatment for rheumatoid arthritis in underdeveloped countries restricts the market growth. Moreover, high growth potential in emerging markets presents new opportunities in the coming years.

Report coverage & details:

Covid-19 Scenario

• COVID-19 pandemic had a negative effect on the global musculoskeletal disorders drugs market owing to decrease in demand for musculoskeletal disorders drugs due to the low hospitalization rate and many surgeries either canceled or postponed due to pandemic.
• In addition, delays in diagnosis or treatment for musculoskeletal disorders during pandemic decreased the adoption of drugs and hampered the market growth during pandemic.
• However, the market is recovering after pandemic, and show stable growth for musculoskeletal disorders drugs market owing to increase in number of patients visits for diagnosis of musculoskeletal disorders, continuous product approvals and clinical trials for musculoskeletal disorders.

The analgesics segment to maintain its leadership status throughout the forecast period

Based on drug type, the analgesics segment held the largest market share in 2022, accounting for around one-third of the global musculoskeletal disorders drugs market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 6.0% from 2023 to 2032. This is due to the high effectiveness, ease of accessibility, and cost-effectiveness of analgesics that make them a popular choice for managing pain and inflammation associated with musculoskeletal disorders.

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The parenteral segment to maintain its leadership status throughout the forecast period

Based on route of administration, the parenteral segment held the largest market share in 2022, accounting for more than two-thirds of the global musculoskeletal disorders drugs market, and is estimated to maintain its leadership status throughout the forecast period. The injectable drugs are effective in the treatment of musculoskeletal disorders is a major factor that propels the growth of segment. However, the oral segment is expected to witness the fastest CAGR of 5.9% from 2023 to 2032. Easy availability of wide variety of oral drugs, less expensive than other drugs, and easy to administer which is expected to drive the growth of the segment. 

The drug stores & retail pharmacies segment to maintain its lead position during the forecast period

Based on distribution channel, the drug store & retail pharmacies segment accounted for the largest share in 2022, contributing to nearly three-fifths of the global musculoskeletal disorders drugs market revenue, and is projected to maintain its lead position during the forecast period. Easy availability of medications such as analgesics in drug stores & retail pharmacies which drives the segmental growth. However, the online providers segment is expected to witness the fastest CAGR of 5.6% from 2023 to 2032. Easy availability of a musculoskeletal drugs such as analgesics and disease modifying anti-rheumatic drugs (DMARDs) on e-commerce platforms which helps patients buy products at ease, and increased access to information offered by online providers which is expected to drive the growth of the segment. 

North America to maintain its dominance by 2032

Based on region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global musculoskeletal disorders drugs market revenue, and is likely to dominate the market during the forecast period. Easy availability of products for diagnosis, and higher healthcare expenditure, increase in awareness about early diagnosis of disease and higher adoption of drugs for the treatment of musculoskeletal disorders promoted the growth of the musculoskeletal disorders drugs market in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.8% from 2023 to 2032. Increase in health awareness, rise in prevalence of rheumatoid arthritis, and surge in awareness of preventive healthcare in the Asia-Pacific region, is expected to drive the growth of the musculoskeletal disorders drugs market.

Leading Market Players: –

• AbbVie Inc.
• Amgen Inc.
• Eli Lilly and Company
• F. Hoffmann-La Roche Ltd.
• Johnson & Johnson
• Merck & Co., Inc.
• Novartis AG
• Pfizer Inc.
• Teva Pharmaceutical Industries Ltd.
• UCB S.A.

The report provides a detailed analysis of these key players in the global musculoskeletal disorders drugs market. These players have adopted different strategies such product approval and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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