Number of pages: 100 | Report Format: PDF | Published date: April 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global kyphoscoliosis therapeutics market was valued at US$ 2.95 billion in 2022 and is expected to register a revenue CAGR of 4.8% to reach US$ 4.49 billion by 2031.
Kyphoscoliosis Therapeutics Market Fundamentals
Kyphoscoliosis is a medical condition in which the spine curves abnormally, both sideways (scoliosis) and forward/backward (kyphosis). Kyphoscoliosis causes the affected person to have a hunched or rounded back appearance. Kyphoscoliosis can range in severity from mild to severe and can be caused by various factors, such as congenital disabilities, neuromuscular disorders, or degenerative spine conditions. The condition may cause pain, difficulty breathing, and reduced mobility, among other symptoms. The treatment approaches include physical therapy, bracing, medications, respiratory support, and in severe cases, surgery. The goal of kyphoscoliosis therapeutics is to improve the quality of life of individuals with the condition by reducing pain, improving posture, and preventing curvature of the spine. The specific therapeutic approach used depends on the severity of the condition and the patient’s needs.
Kyphoscoliosis Therapeutics Market Dynamics
The rising prevalence of spinal disorders, including kyphoscoliosis, is a major driver of the kyphoscoliosis therapeutics market revenue. The aging population and sedentary lifestyle contribute to an increase in spinal disorders, leading to higher demand for treatment options. There is a growing demand for biological drugs to target the underlying causes of kyphoscoliosis. These drugs are made from living cells and can be used to treat a range of conditions, including spinal disorders. Growing demand for personalized medicine involves tailoring treatment to the individual patient based on their genetic makeup and other factors. Genetic testing and personalized medicine may lead to more targeted and effective therapies for kyphoscoliosis. The rising healthcare expenditure globally is fueling the kyphoscoliosis therapeutics market revenue growth. Governments and healthcare organizations are investing more in healthcare infrastructure and services, increasing access to treatment options for patients with kyphoscoliosis. Moreover, regulatory agencies such as the FDA and EMA are supporting the development of new treatment options for kyphoscoliosis, boosting industry research and development activities. This supportive regulatory environment for developing and commercializing new treatments also propels the kyphoscoliosis therapeutics market revenue.
However, many people may not be aware of the symptoms of kyphoscoliosis or the available treatments, leading to delayed diagnosis and treatment, restricting the kyphoscoliosis therapeutics market revenue growth. The approval process for new treatments for kyphoscoliosis can be lengthy and complex, hindering the kyphoscoliosis therapeutics market. Additionally, some treatments for kyphoscoliosis may have significant side effects or complications, cramping the market demand.
Kyphoscoliosis Therapeutics Market Ecosystem
The global kyphoscoliosis therapeutics market is analyzed from four perspectives: drug type, type, distribution channel, and region.
Kyphoscoliosis Therapeutics Market by Drug Type
Based on the drug type, the global kyphoscoliosis therapeutics market is segmented into non-steroidal anti-inflammatory drugs (NSAIDs), muscle relaxants, and others.
The non-steroidal anti-inflammatory drugs segment accounted for the largest kyphoscoliosis therapeutics market revenue share. NSAIDs are highly effective in relieving pain and inflammation associated with kyphoscoliosis. They work by blocking the production of prostaglandins, which are responsible for causing pain and inflammation. NSAIDs are widely available and are often prescribed as first-line treatment for mild to moderate pain associated with kyphoscoliosis. They are available in over-the-counter and prescription forms, making them easily accessible to patients. NSAIDs are generally low-cost compared to other treatment options such as surgery or biologics. This makes them an attractive option for patients and healthcare providers. NSAIDs have been used for decades to treat pain and inflammation and have an established safety profile. They are generally well-tolerated by most patients, and the risk of serious side effects is low when used as directed. NSAIDs are available in multiple formulations, including tablets, capsules, creams, and gels, providing patients with various options for administration and ease of use.
The muscle relaxants segment accounted for a significant kyphoscoliosis therapeutics market revenue share in 2022. Muscle relaxants are a type of medication that can be used to treat the symptoms of kyphoscoliosis, such as muscle spasms and pain. They reduce muscle tension and improve blood flow to the affected area. Moreover, they are non-invasive and relatively low-cost treatment options compared to surgery. Additionally, muscle relaxants can be used as a complementary therapy to other treatments, such as physical therapy and bracing.
Kyphoscoliosis Therapeutics Market by Type
Based on the types, the global kyphoscoliosis therapeutics market is segmented into postural kyphosis, Scheuermann’s kyphosis, and congenital kyphosis.
The postural kyphosis segment accounts for a prominent revenue share of the kyphoscoliosis therapeutics market. Postural kyphosis is the most common type, affecting people of all ages. This high prevalence can drive demand for products and services that address postural kyphosis. Postural kyphosis is often caused by lifestyle factors such as spending a lot of time sitting or using electronic devices. These factors are becoming increasingly common in modern society, contributing to the prevalence of postural kyphosis. Postural kyphosis can often be treated non-invasively with exercises and physical therapy, which may appeal more to patients than invasive treatments like surgery. Non-invasive treatments may also be less costly and have fewer risks and complications, making them a more attractive option for patients and healthcare providers alike. There is a growing awareness of the importance of good posture and the negative effects of poor posture on spinal health. This increased public awareness may drive demand for products and services that address postural kyphosis. Postural kyphosis can be prevented by maintaining good posture and taking breaks from prolonged sitting or screen time. Prevention is often more desirable than treatment, which may be another reason the postural kyphosis segment dominates the market with the largest revenue share.
Scheuermann’s kyphosis segment is expected to register a lucrative revenue CAGR during the forecast period. As awareness of Scheuermann’s kyphosis increases among healthcare professionals and the general public, more people may be diagnosed and seek treatment. There is a rise in the development of new and improved treatment options for Scheuermann’s kyphosis, increasing the demand for kyphoscoliosis therapeutics. The prevalence of Scheuermann’s kyphosis is rising, possibly due to lifestyle changes or genetics. This could lead to more people seeking treatment for the condition. According to a study published by the National Center of Biotechnology Information, the prevalence of Scheuermann’s kyphosis is 0.4–8.3%, with a higher incidence in females. Increased access to healthcare may be making it easier for people with Scheuermann’s kyphosis to receive a diagnosis and access to treatment.
Kyphoscoliosis Therapeutics Market by Distribution Channel
Based on the distribution channels, the global kyphoscoliosis therapeutics market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The retail pharmacies segment dominated the kyphoscoliosis therapeutics market with the highest revenue share. Retail pharmacies are easily accessible to patients and often have a wider reach than other healthcare providers. This makes it easier for patients to obtain kyphoscoliosis therapeutics, which may be prescribed by their doctors or recommended by pharmacists. Retail pharmacies offer competitive pricing for medications and other healthcare products. Patients can often find affordable prices for kyphoscoliosis therapeutics at retail pharmacies, which may make these treatments more accessible to a larger patient population. Retail pharmacies often provide patient education materials and counseling services to help patients better understand their conditions and treatment options. This may improve patient adherence to kyphoscoliosis therapeutics, leading to better outcomes and increased demand for these treatments. Retail pharmacies offer various products, including prescription, over-the-counter, and medical devices. This allows patients to choose from various kyphoscoliosis therapeutics based on their specific needs and preferences.
The online pharmacies segment is expected to register the fastest revenue CAGR during the forecast period. Online pharmacies offer patients the convenience of ordering kyphoscoliosis therapeutics from their homes without visiting a physical retail pharmacy. This can be particularly attractive to patients with mobility issues or those living in remote areas. Online pharmacies offer kyphoscoliosis therapeutics at a lower cost than physical retail pharmacies due to lower overhead costs. This may be particularly attractive to patients paying out-of-pocket for their medications. Online pharmacies can offer a wider range of kyphoscoliosis therapeutics products compared to physical retail pharmacies, as physical space does not limit them. This may make it easier for patients to find the specific kyphoscoliosis therapeutics they need. Advances in technology have made it easier for online pharmacies to provide high-quality services to patients. This includes securely processing prescriptions and shipping medications quickly and efficiently.
Kyphoscoliosis Therapeutics Market by Region
Based on region, the global kyphoscoliosis therapeutics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest kyphoscoliosis therapeutics market revenue share. As the population of North America continues to age, the prevalence of kyphoscoliosis is likely to increase. This is because kyphoscoliosis is more common among older adults. The North American government may invest in research and development of kyphoscoliosis therapeutics or provide funding for public health programs that address the condition. This can help to stimulate growth in the market revenue. Healthcare expenditure in North America is increasing, fueling demand for kyphoscoliosis therapeutics. As patients become more willing to spend money on healthcare, they may be more likely to seek treatment for kyphoscoliosis. The North American healthcare system provides relatively easy access to healthcare services, including kyphoscoliosis therapeutics. This can help to increase the demand for treatment options.
Asia Pacific is expected to rise for the fastest revenue CAGR during the forecast period. The Asia Pacific region has been investing heavily in healthcare infrastructure and facilities, which has increased the availability of medical services, including kyphoscoliosis therapeutics. There is growing awareness about kyphoscoliosis in the Asia Pacific, which has led to increased screening and diagnosis of the condition. This is expected to drive demand for therapeutics to manage and treat the disease. The Asia Pacific region has been growing its healthcare expenditure, which has led to increased access to healthcare services and therapies, including kyphoscoliosis therapeutics. There has been ongoing research and development of new and innovative treatments for kyphoscoliosis, which is expected to drive revenue growth in the Asia Pacific kyphoscoliosis therapeutics market.
Kyphoscoliosis Therapeutics Competitive Landscape
The prominent players operating in the global kyphoscoliosis therapeutics market are:
Kyphoscoliosis is a medical condition in which the spine curves abnormally, both sideways (scoliosis) and forward/backward (kyphosis). Kyphoscoliosis causes the affected person to have a hunched or rounded back appearance.
The expected size of the global kyphoscoliosis therapeutics market in 2031 is US$ 4.49 billion.
Amneal Pharmaceuticals LLC, Johnson and Johnson, Perrigo Company plc, Teva Pharmaceutical Industries Ltd., and Aurobindo Pharma Limited. are the prominent players operating in the global kyphoscoliosis therapeutics market.
In 2022 the global kyphoscoliosis therapeutics market was valued at US$ 2.95 billion.
Based on region, North America accounts for a prominent revenue share, followed by Europe and Asia Pacific, which are the fastest-growing regional market for kyphoscoliosis therapeutics.
*Insights on financial performance are subject to the availability of information in the public domain