Published On: January 2018
New technologies and therapies paving ways for the market growth
Era of sports medicine
Factors accelerating the growth of the market
Increasing prevalence of sports injuries and chronic diabetes and arthritis are a major driver for the growth of the market in the American and European countries.
According to the Center for Disease Control and Prevention (CDC), from 2013 to 2015, an estimated 54.4 million U.S. adults annually diagnosed with rheumatoid arthritis, gout, lupus, or fibromyalgia. It also stated that the risk of arthritis increases with the age. Additionally, the disease is more common in women than men.
Diabetes is one of the chronic diseases creating a socio-economic impact on the lives of the people. According to the American Diabetes Association, in 2015, approximately 30.3 million Americans i.e. 9.4% of the American population had diabetes. Many research studies state that there is a significant association between diabetes and tendon pain. Achilles tendinitis is the most commonly linked to diabetes. In case of diabetic patients, high blood sugar leads to abnormal thickening of the tendon.
Factor deteriorating the market growth
Side effects of treatment such NSAIDs deteriorate the growth of the market. According to the report published by American Academy of Clinical Toxicology, nearly 70 million prescriptions for NSAIDs are prescribed in the U.S. each year. Use of NSAIDs leads to the ulcers, irritation of the stomach lining, and kidney problems.
Strategic Approaches of the Key Players
Pfizer, Teva Pharmaceuticals, GlaxoSmithKline, Merck & Co. Inc., Bayer, Abbott, and AstraZeneca are key players in the tendinitis treatment market. The key players in the market are engaged in strategic approaches such as mergers and acquisitions, partnerships, and new product development. For instance, in April 2016, the company acquired “Actavis Generics” to strengthen its position in the global and U.S. generics markets.
Therefore, tendinitis treatment market is governed by the development of new technologies and treatment methods for tendinitis, and various business strategies incorporated by key players.
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