Generic Musculoskeletal Disorders Drugs Global Market Report 2024

The generic musculoskeletal disorders drugs market size has grown strongly in recent years. It will grow from $0.06 billion in 2023 to $0.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historical period can be attributed to factors such as the incidence of musculoskeletal disorders, the regulatory environment governing healthcare, development in healthcare infrastructure, increased patient awareness and education, and the influence of economic factors.

The generic musculoskeletal disorders drugs market size is expected to see strong growth in the next few years. It will grow to $0.08 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to factors such as population growth and aging demographics, emerging markets, advancements in precision medicine and personalized therapies, ongoing healthcare reforms, and global health trends. Major trends expected in the forecast period include the integration of technology in treatment approaches, government initiatives and healthcare policies, a focus on alternatives for pain management, an increased adoption of biosimilars, and advancements in the development of generic drugs.

The anticipated high prevalence of arthritis is set to drive the growth of the generic musculoskeletal disorders drugs market. Arthritis, characterized by joint tenderness, swelling, pain, and stiffness, necessitates the use of generic musculoskeletal disorders drugs to alleviate symptoms. These drugs are designed to relieve pain, stiffness, and muscle spasms associated with arthritis. According to the Centers for Disease Control and Prevention, an estimated 78.4 million adults aged 18 and older, constituting 25.9% of the total adult population, are projected to be diagnosed with arthritis by 2040. Hence, the pervasive occurrence of arthritis is a significant driver for the growth of the generic musculoskeletal disorders drugs market.

The increasing adoption of telemedicine is expected to further propel the growth of the generic musculoskeletal disorders drugs market. Telemedicine involves leveraging telecommunications and digital technologies to provide remote healthcare services, facilitating virtual consultations between patients and healthcare providers. The adoption of telemedicine enhances accessibility, convenience, and continuity of care for patients with musculoskeletal disorders. For instance, data from FAIR Health Inc. in April 2023 indicates a 7.3% increase in national telehealth use, rising from 5.5% of medical claim lines in December 2022 to 5.9% in January 2023. Thus, the growing embrace of telemedicine contributes to the expansion of the generic musculoskeletal disorders drugs market.

Strategic partnerships emerge as a prominent trend in the generic musculoskeletal disorders drugs market, with companies entering partnerships to bolster their market positions. A notable example is the collaboration between Mitsubishi Tanabe Pharma Corporation, a Japanese pharmaceutical company, and Eli Lilly and Company, a U.S.-based pharmaceutical company, aimed at broadening product lines and providing effective treatments for conditions such as diabetes. Additionally, Pfizer Inc., a major pharmaceutical and biotechnology corporation, partnered with Alex Therapeutics, a Swedish digital therapeutics company, in February 2022, offering patients evidence-based, clinically verified, and tailored digital therapeutics through this strategic alliance.

Major companies operating in the generic musculoskeletal disorders drugs market are placing emphasis on innovative products to drive revenue growth. An example is the introduction of the non-permanent ossiofiber compression staple by Ossio Inc., a U.S.-based company specializing in orthopedic and musculoskeletal applications. This medical device, designed for fracture fixation and bone fusion in orthopedic surgeries, offers temporary stability and compression to promote bone healing and fusion. The non-permanent ossiofiber compression staple presents an alternative to traditional implants and permanent metal hardware.

In October 2023, Amgen Inc., a U.S.-based biopharmaceutical company, acquired Horizon Therapeutics Plc for $27.8 billion. This acquisition enables Amgen to diversify its product line and offer treatments for severe inflammatory, autoimmune, and rare disorders. Horizon Therapeutics Plc, an Ireland-based biopharmaceutical company, contributes to Amgen's commitment to utilizing biology to address life-threatening disorders.

Major companies operating in the generic musculoskeletal disorders drugs market report are Pfizer Inc., Sanofi S.A., Eli Lilly and Company, Ampio Pharmaceuticals Inc., Amgen Inc., Boehringer Ingelheim International GmbH, Merck & Co. Inc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceuticals Industries Ltd., AstraZeneca plc, Mitsubishi Tanabe Pharma Corporation, Horizon Therapeutics plc, The Procter & Gamble Company, Eisai Co. Ltd., Biogen Inc., Sino Biopharmaceutical Limited, Bristol-Myers Squibb Company, Johnson & Johnson Services Inc., AbbVie Inc., Novartis AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Bayer AG, Mylan Pharmaceuticals Inc., Taisho Pharmaceutical Holdings Co. Ltd., Egalet Corporation, Mesoblast Limited, Biosplice Therapeutics Inc., Vertex Pharmaceuticals Inc., Regeneron Pharmaceuticals Inc., Flexion Therapeutics Inc.,.

Asia-Pacific was the largest region in the generic musculoskeletal disorders drugs market in 2023. The regions covered in the generic musculoskeletal disorders drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the generic musculoskeletal disorders drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main treatments for generic musculoskeletal disorders drugs include medication, therapy, surgery, and other interventions. Medications come in various forms, containing one or more active chemicals and potential inactive components. They can be administered through oral, parenteral, and other routes to address conditions such as osteoarthritis, rheumatoid arthritis, spondylarthritis, juvenile idiopathic arthritis, psoriatic arthritis, fibromyalgia, and other musculoskeletal disorders. These drugs are distributed through different channels, including hospital pharmacies, retail pharmacies, drug stores, and online pharmacies.

The generic musculoskeletal disorders drugs market research report is one of a series of new reports that provides generic musculoskeletal disorders drugs market statistics, including generic musculoskeletal disorders drugs industry global market size, regional shares, competitors with a generic musculoskeletal disorders drugs market share, detailed generic musculoskeletal disorders drugs market segments, market trends and opportunities, and any further data you may need to thrive in the generic musculoskeletal disorders drugs industry. This generic musculoskeletal disorders drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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