The Latin America, Middle East and Africa Musculoskeletal Disorders Drugs Market would witness market growth of 10.2% CAGR during the forecast period (2023-2029).
There are currently several novel medications in the process of being developed, and these drugs show promise of being safer and more efficient than the already available treatments. In the years to come, the expansion of the pharmaceutical industry for treating musculoskeletal disorders is likely driven by the introduction of these new drugs. One of the most important chances for the expansion of the market is presented by the growing quantity of clinical tests performed to discover new medications. In addition, the growing number of approvals for the application of biologics would also boost the market's development.
In musculoskeletal drug delivery, the term "drug" is not restricted to therapeutic agents like anti-inflammatory drugs, antibiotics, and anti-cancer agents; its scope has expanded dramatically over the past few decades to embrace growth factors, non-viral genes (DNAs, RNAs), as well as tissue engineering scaffolds and regenerative cells/tissues. Non-steroidal anti-inflammatory drugs (NSAIDs), antimicrobial & antiviral drugs, and anti-cancer drugs are the three broad categories that categorize conventional medications. NSAIDs are one of the most commonly used drugs to reduce inflammation by inhibiting cyclooxygenases, predominantly for osteoarthritis and other chronic musculoskeletal conditions.
Israel's population is aging faster than the global average, as is the case in many other countries. The percentage of adults 65 and older has increased by 18 since 1950. The overall population of Israel is expected to reach 12.1 million by 2035, with seniors making up roughly 14% of the total, or 1.9 million people. When Israel was established in 1948, only 4% of the populace was over 65. Over time, this population has steadily grown. Since 1995, the average rise in life expectancy has been 1%, and this trend is anticipated to continue. In addition, as musculoskeletal diseases are more common among the elderly, the demand for drugs to treat these illnesses is predicted to rise, propelling market expansion in LAMEA.
The Brazil market dominated the LAMEA Musculoskeletal Disorders Drugs Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,387.4 Million by 2029. The Argentina market is showcasing a CAGR of 10.8% during (2023 - 2029). Additionally, The UAE market would register a CAGR of 9.9% during (2023 - 2029).
Based on Distribution Channel, the market is segmented into Drug Stores & Retail Pharmacies, Hospital Pharmacies and Online Providers. Based on Route of Administration, the market is segmented into Parenteral and Oral. Based on Drug Type, the market is segmented into Analgesics, DMARDs, Corticosteroids and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Musculoskeletal Disorders Drugs Market is Projected to reach USD 109.4 Billion by 2029, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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., and UCB S.A.
By Distribution Channel
By Route of Administration
By Drug Type
By Country
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