LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global osteonecrosis treatment market to grow at a CAGR of more than 6% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
Introduction of stem cell therapy is one of the major trends being witnessed in the global osteonecrosis treatment market 2019-2023. Stem cells are undifferentiated biological cells that can indefinitely generate more new cells of the same type. Stem cell therapy can replace damaged bone cells and cure the affected part because of which the R&D of stem cells is increasing for the treatment of osteonecrosis. Thus, the development of stem cells is increasing to engineer advanced stem cells therapy that can demonstrate better efficacy and has fewer side-effects than the available treatments.
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According to Technavio analysts, one of the key factors contributing to the growth of the global osteonecrosis treatment market is the rising awareness about osteonecrosis:
Global osteonecrosis treatment market: Rising awareness about osteonecrosis
Osteonecrosis is an idiopathic disease because it also occurs without trauma, but the early diagnosis increases the chance of treatment success. To avoid the delay in diagnosis and make individuals aware of the treatment for osteonecrosis, various government and non-government organization are organizing programs and campaigns to facilitate speedy treatment. Thus, the increasing awareness about osteonecrosis among people is expected to propel the growth of the global osteonecrosis treatment market during the forecast period.
According to a senior analyst at Technavio for research on pharmaceuticals, “The International Osteoporosis Foundation (IOF) and National Osteonecrosis Foundation (NOF) are working to prevent and diagnose joint disorders and promoting education and awareness about osteonecrosis among the affected patients in the US. Such initiatives are taken to connect patients and patient organizations with healthcare professionals and other stakeholders.”
Global osteonecrosis treatment market: Segmentation analysis
The global osteonecrosis treatment market research report provides market segmentation by product (NSAIDS and other therapeutics) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for close to 42% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the increasing awareness about osteonecrosis and high-risk factors associated with osteonecrosis.
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