Costochondritis Market – Global Overview by Diagnosis, Region and Forecast (2023-2029)

Global Costochondritis Market size was valued at US$ 2.60 Bn. in 2022 and the total Costochondritis revenue is expected to grow at 4.2% through 2023 to 2029, reaching nearly US$ 3.48 Bn.
Costochondritis Market Overview:
Inflammation of the junctions where the upper ribs meet the cartilage that supports them to the breastbone is known as costochondritis (sternum). Pushing on the affected cartilage in the front of the rib cage can induce localized chest wall discomfort and soreness, which can be recreated by pressing on the concerned cartilage. It's a pretty innocuous muscular chest ache that normally goes away on its own. In most cases, the cause is untraceable.To know about the Research Methodology :- Request Free Sample Report

The frequency of cardiac chest discomfort in the general population was 6.5 per 1,000 people per year, according to data from hospitals and primary care in North America. According to population-based questionnaire research, over 20% of individuals have chest discomfort over a year. When compared to a control group with no chest pain, there is a 3% increase in fatality one year after contacting a Physician about the development of chest pain, with the excess related mostly to cardiovascular disease.

The epidemiology of chest discomfort in ambulatory and emergency settings differs significantly. More than half of patients arriving at the emergency department with chest pain have a cardiovascular disease e.g. myocardial infarction, angina, pulmonary embolism, or heart failure. Musculoskeletal problems, gastrointestinal disease, unstable coronary artery disease, anxiety symptoms or other mental conditions, and pulmonary disease are the most prevalent causes of chest discomfort observed in ambulatory general practice.

In this report, the Costochondritis market's growth reasons, as well as the market's many segments (Diagnosis, Treatment, End-User, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Costochondritis market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Costochondritis market situation.
Costochondritis Market Dynamics:
The primary driver of the market is the fact that cardiovascular diseases are becoming more common.

The biggest cause of mortality globally is cardiovascular disease. According to the World Health Organization, cardiovascular disease is the leading cause of mortality worldwide, with over 35 million individuals experiencing a heart attack or stroke each year. According to the American Heart Association, approximately half of all individuals in the United States suffer from cardiovascular disease. It D is expected to affect more than 120 million individuals, or 40.2% of the US population, by 2030. The disease is influenced by a number of variables, including family history, ethnicity, and age. Tobacco use, hypertension, high blood cholesterol, obesity, physical inactivity, diabetes, poor diets, and alcohol consumption are all risk factors.

The major restraint of the market is that medical reimbursement for bone-related diseases is limited.

At a country level, medical reimbursement is one of the most important variables influencing the acceptance and demand of certain diagnostic or therapeutic goods among patients and healthcare professionals. In developed nations e.g. the United States, many healthcare insurance companies cover bone disease drugs provided certain requirements are met. In the United States, for example, insurance covers bone ailment if the intended bones are differentiated little less than one centimeter and are not infected.

The key opportunity in the market is the prevalence of point of care testing with cardiac biomarkers.

The need for point-of-care testing kits has risen dramatically in recent years, owing to a growth in the number of cardiovascular disease patients in emergency rooms who require an immediate diagnosis. Because of the benefits it provides, cardiac biomarker testing is becoming more widely used in diagnostic processes for cardiovascular disorders across the world. Reduced duration of stay, higher Key market participants are increasingly focused on establishing technologically sophisticated points of care for cardiovascular illnesses to capitalize on the prospects in this area.
Segment Analysis:
By Treatment, the anti-inflammatory drug segment dominated the market in 2022. It is expected to grow at a CAGR of 6.7% in the aforementioned forecast period. Anti-inflammatory medicines are being used more often to treat autoimmune inflammatory disorders. The market is expected to grow because of the lower adverse effects compared to traditional medications. Furthermore, there has been an increase in the use of corticosteroids to treat chronic obstructive pulmonary diseases and asthma.The worldwide anti-inflammatory therapeutics market is growing due to an increase in the incidence of autoimmune illnesses and chronic respiratory problems, the introduction of novel medications, and an increase in the rate of anti-inflammatory drug acceptance. Anti-inflammatory medicine’s adverse effects and patent expiration, on the other hand, limit the segment growth. Biosimilars for current pharmaceuticals, on the other hand, are projected to provide profitable prospects for market players in the forecast period.
Regional Insights:
Because of reasons such as the established healthcare system with a large number of known companies, significant investment, and the need for more efficacious pharmaceuticals, North America is the largest market in the Costochondritis Market. Furthermore, high per capita income increased inpatient visits to physicians, and research breakthroughs owing to increased funding are some of the reasons that are boosting the North American market forward. However, Asia Pacific is predicted to advance at the fastest CAGR of 5.6%, thanks to a large patient pool, rising disposable incomes, increased spending on healthcare, and more health awareness.

The objective of the report is to present a comprehensive analysis of the Costochondritis market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Costochondritis market dynamics, structure by analyzing the market segments and projecting the Costochondritis market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Costochondritis market make the report investor’s guide.
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Global Costochondritis Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 2.60 Bn.


Forecast Period 2023 to 2029 CAGR:
4.2%
Market Size in 2029:
US $ 3.48 Bn.


 Segments Covered:
by Diagnosis
Tests
Echocardiogram
Electrocardiogram
Cardiac catheterization
Chest X-ray
Cardiac MRI
CT scan


by Treatment
Medications
Nonsteroidal anti-inflammatory drugs
Narcotics
Antidepressants
Anti-seizure drugs
Therapy
Stretching exercises
Nerve stimulation
Surgery


by End-User
Hospitals and Clinics
Ambulatory surgical centers
Diagnostic centers
Research centers
Others



Costochondritis Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Costochondritis Market Key Players
1. KemPharm
2. GlaxoSmithKline plc
3. Biovail Corporation
4. Aurobindo Pharma
5. Pfizer Inc.
6. Recro Pharma Inc.
7. LUPIN
8. Bausch Health Companies Inc
9. Avenue Therapeutics
10. Bliss GVS Pharma
11. Johnson & Johnson
12. Novartis AG
13. Biogen
14. MED Pharma Co. Ltd.
15. Zydus Pharmaceuticals

FAQs:

1. Which is the potential market for Costochondritis in terms of the region?
Ans. North America is the largest market in the Costochondritis Market.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is the prevalence of point of care testing with cardiac biomarkers.

3. What is expected to drive the growth of the Costochondritis market in the forecast period?
Ans. The primary driver of the market is the fact that cardiovascular diseases are becoming more common.

4. What is the projected market size & growth rate of the Costochondritis Market?
Ans. Costochondritis Market size was valued at US$ 2.60 Bn. in 2022 and the total Costochondritis revenue is expected to grow at 4.2% through 2023 to 2029, reaching nearly US$ 3.48 Bn.

5. What segments are covered in the Costochondritis Market report?
Ans. The segments covered are Diagnosis, Treatment, End-User, and Region.