Albany, NY — 02/14/2018 — A doctor can diagnose the musculoskeletal disorder by physical examination or with the help of various laboratory and imaging tests. Every procedure has its own diagnostic application such as DXA is more accurate for measuring bone density, CT and MRI provide more detail and the exact location of damage than the conventional X-Rays. These all different kinds of services are used in diagnosing musculoskeletal injuries. The increased prevalence of musculoskeletal disorders worldwide is going to boost the need for diagnostic testing operation and thus fuels the market.
Occurrence of musculoskeletal disorders is more in the population with age group 45-64 in US which is also the most populous age group. Musculoskeletal diagnosis accounted for around 20% of all the diagnostic procedures. These are performed in outpatient and emergency departments of the hospitals, clinics or various other diagnostic laboratories. According to Medical Expenditures Panel Survey 2011, more than 100 million people suffer from musculoskeletal disorders for the years 2009-11. The annual projected direct and indirect cost attributable to persons for musculoskeletal diseases is around $213 billion.
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Prevalence of musculoskeletal disorders in knee and lower back has increased in the recent years which indicates that the market of Musculoskeletal Diagnostic Testing is likely to rise in the forecast period 2016-2024. Geriatric population are more prone to the musculoskeletal disorders and the rising geriatric population contributes towards the market growth.
Increase in lifestyle related problems are increasing the chances of developing the diseases in younger population too such as poor work practices, excessive smoking & drinking, poor rest & recovery, poor nutrition and fitness. Lack of research and funding in musculoskeletal diagnosis and treatment is also less than other health conditions such as cancer and circulatory diseases which restraints the market to flourish. The cost factor also limits the growth of musculoskeletal diagnostics market in developing and under developed countries where per capita income of population is very less.
Musculoskeletal Diagnostic tests help in determining the patient's treatment plan. New mergers and acquisition in companies associated with the diagnostic procedures is also fueling the market growth. In 2016, Zimmer Biomet Strengthens Musculoskeletal Diagnostic offering with the acquisition of CD Diagnostics. Increasing awareness for improving health, longevity and for an active lifestyle, the musculoskeletal diagnostic market will be going to flourish. Gender wise, the market is targeted more towards females as they suffer more from the musculoskeletal disorders. Technological advancements in the diagnostic methods with focus on cost effectiveness will escalate the market growth.
From the global perspective, North America accounts for the largest market share for Musculoskeletal Diagnostic Testing owing to the rising demand of Musculoskeletal Diagnostic Testing because of the large number of older population and availability of numerous health facilities in the country. A huge number of cases reported in the past is also giving an indication for the growth of musculoskeletal diagnostics market. This is followed by Europe where it has become the most common work related problem. The reimbursement scenario is also fueling the growth of diagnostic services in these countries. The musculoskeletal diagnostic market also has an upsurge in the Asia-Pacific regions where the rate of geriatric populations is increasing at a fast pace. Rising number of health facilities in the emerging countries also opens the market for musculoskeletal diagnostic testing services.
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Currently, the global Musculoskeletal Diagnostic Testing market is highly competitive owing to the involvement of many service provider in the market. Some of the key service provider in this market are Advanced Care Physical Therapy, Hands-On EMG, Klasinski Clinic Orthopaedics, CML Healthcare, Canada Diagnostic Centres, Natural Healing, SRL Diagnostics and many others. Various government facilities are also functional in various countries providing diagnostic services.