Increasing prevalence of bone problems, adoption of advanced techniques in diagnosis, and increasing government support have driven the growth of the market. According to the World Health Organization, 422 million people across the globe are suffering from diabetes. Diabetes is the major reason for cardiovascular diseases. Increasing prevalence of diabetes, rapidly developing technology, and increasing geriatric population across the globe are fuelling the growth of the market.
However, strict regulations are to be followed by the manufacturer for the development of the devices. Strict regulatory rules and the high cost of treatment may slow the growth of the market over the assessment period.
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The Americas command a major share of the market owing to the huge patient population suffering from bone related problems & diabetes, increasing demand for the advanced devices, and strong government support. Additionally, availability of funds and rising geriatric population are expected to fuel the growth of the market.
According to the United States Census Bureau, when the global population reached 7 billion in 2012, 562 million (or 8.0 %) people were aged 65 and over. In 2015, the older population rose by 55 million and the proportion of the older population reached 8.5 % of the total population
Europe accounts for the second largest market across the globe, which is followed by the Asia Pacific. Strong government support, availability of funds for research, and high healthcare expenditure is driving the growth of the market.
The Asia Pacific is the fastest growing market owing to increasing need for better devices, rapidly improving technology, and the presence of huge patient pool. China and India are the key contributors to the growth of the market. Additionally, increasing government support, and presence of huge opportunity have fuelled the growth of the market in the Asia Pacific.
The Middle East & Africa holds the least share of the global market due to limited availability of medical facilities and poor economic conditions in the African region. The Middle East holds the major share in the market in this region owing to a well-developed economy, whereas, African region is expecting a healthy growth due to the presence of huge opportunity in the market.
The global knee bursitis market share has been segmented on the basis of diagnosis, treatment, and end users. On the basis of the diagnosis, the global knee bursitis market is segmented into imaging tests and others. Imaging tests are further segmented into X-ray, MRI, ultrasound, and others. Based on the treatment, it is segmented medication, therapy, surgery and others. Medication is sub-further segmented into antibiotic treatment and others. Others segment includes corticosteroid injection and others. On the basis of the end users, the market is segmented into hospitals & clinics, diagnostic centers, research centers, academic institutes and others.
Some of the major players in this market are Novartis AG, Pfizer Inc, Amgen Inc, AVEO Pharmaceuticals Inc, Bayer AG, Bellicum Pharmaceuticals Inc, MediaPharma srl, Merck & Co., Inc, Merrimack Pharmaceuticals Inc, Oncolys BioPharma Inc, United Therapeutics Corp and others.
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