According to The Insight Partners’ research, the global musculoskeletal diseases treatment market generated US$ 3,837.9 million in 2017 and is estimated to reach US$ 5,730.8 million by 2025, expanding at 5.3% CAGR from 2018 to 2025. The rising prevalence of musculoskeletal disorders, increasing elderly population, and technological advancement in musculoskeletal disease diagnosis are the crucial factors accredited for market expansion.
Based on diseases, the market is split into arthritis, osteoarthritis, osteoporosis, spondylitis, and others. An arthritis segment occupied 43.2% market share in 2017. It garnered US$ 1,657.6 million in 2017 and is expected to generate US$ 2,515.8 million by 2025 to grow at a CAGR of 5.5% during 2018–2025.
As per imaging modality, the global musculoskeletal diseases treatment market is segmented into computed tomography, magnetic resonance imaging, ultrasound, and others. With 36.5% market share, the computed tomography segment dominated the business in 2017. It accrued US$ 1,399.5 million in 2017 and is slated to amass US$ 2,106.1 million by 2025 to rise at a 5.4% CAGR throughout the forecast period.
Regionally speaking, North America dominated the market in 2017, accounting US$ 1,297.2 million. Later, it is speculated to hit US$ 1,947.3 million by 2025, featuring a CAGR of 5.3% for the forecast period, while Asia Pacific registered the highest CAGR of 5.8%. The regional market was worth US$ 1,013.2 million in 2017 and is likely to reach US$ 1,571.4 million by 2025.
The prominent players leading the global musculoskeletal diseases treatment market are General Electric; Koninklijke Philips N.V.; Siemens AG; Canon Medical Systems Corporation; Hitachi, Ltd; Accuray Incorporated; MR Solutions; Alltech Medical Systems America, Inc; Terason Division Teratech Corporation; and Echo-Son S.A. among others.
· In November 2017, General Electric introduced new technologies, services, and digital solutions exclusively designed to enhance patient’s experience, increase clinical confidence, and strengthen productivity.
· In July 2018, Siemens AG launched the new ultrasound system, Acuson Sequoia, featuring deep penetration upto 40cm, deep abdominal transducer (DAX), high-powered architecture, elastography, and enhanced ultrasound.
· In March 2017, Hitachi launched 1.5T superconductive MRI system, ECHELON Smart, delivering high-quality imaging along with a patient-friendly examination environment.