Myositis Treatment Market Trends

Growth Drivers

• Growing Cases of Musculoskeletal Diseases Amongst Global Population – Musculoskeletal diseases are often characterized by prolonged pain in muscles of the human body which limit the mobility and dexterity of an individual. Such diseases lead to inflammation and weakness in muscles with pain and ache. Thus, the increase in cases of musculoskeletal diseases is anticipated to drive the global myositis treatment market in the upcoming years. As per the statistics shared by the World Health Organization (WHO) in 2022, approximately 1.71 billion people are affected by musculoskeletal conditions all over the world.
• Rapid Surge in Occurrence of Injuries – Different types of injuries are encountered by humans owing to accidents, traumas, and injuries. The National Safety Council stated that in 2020, the United States experienced around 55.4 million injuries, out of which 200,955 were classified as preventable deaths. Such injuries can lead to myositis and subsequently increase the demand for myositis treatment and drive market growth.
• Burgeoning Geriatric Population – Elderly people have weakened bodies and deteriorating body organs making them more prone to myositis. Hence, the expanding percentage of the geriatric population is estimated to create a positive outlook for market expansion. The World Health Organization (WHO) stated that the population of elderly people in 2020 around the world was almost 1.4 billion which is forecasted to doubly increase and reach around 2.1 billion by 2050. It is also expected that by 2030, 1 in 6 people worldwide is estimated to be classified as elderly people.
• Significant Rise in Healthcare Expenditure – With the growing economies, the spending capacity of people has also increased. This has propelled a high expenditure on the treatment of diseases such as myositis for fitness and health purposes. Therefore, the high healthcare expenditure is expected to expand the market size in the next few years. The World Bank revealed that healthcare expenditure increased from 9.7% of the total global GDP in 2018 to 9.83% of the total global GDP in 2019.
• Adoption of Sedentary Lifestyle – Owing to the busy lifestyle, people are shifted towards more inactivity and less physical activity. As a result, people nowadays are more prone to diseases and disorders such as myositis. This factor is attributed to the growth of the global myositis treatment market during the forecast period. Recent statistics shared by the World Health Organization (WHO) in 2018 stated that 1 in 4 adults which is equivalent to 28% or 1.4 billion are physically inactive.

Challenges

• High Costs of Myositis Treatment – As myositis is a rare disease, the drugs and other procedures used in its treatment are associated with a high price as it requires technologically advanced medical products and devices. Therefore, this factor is anticipated to lower the adoption rate of myositis treatment among the population with middle and low income which subsequently hampers market growth during the forecast period.
• Unavailability of Effective Treatments for Different Types of Myositis
• Lack of Healthcare Budget in Middle-Income Countries