Osteoarthritis, also known as degenerative arthritis, is the most common chronic disease affecting the joints. It causes acute joint pain and stiffness. Various treatment options are available for osteoarthritis, including exercise for joint pain relief and the use of pain medications. Over-the-counter pain medications like acetaminophen (Tylenol) and nonsteroidal anti-inflammatory drugs (NSAIDs) can help alleviate OA symptoms. Prescription pain relievers such as duloxetine (Cymbalta) can be used for long-term pain management. Steroid injections are also commonly used to provide significant short to medium-term relief from OA pain.
According to Data Bridge Market Research, the Osteoarthritis Treatment Market accounted for USD 6,214.06 million in 2021 and is expected to reach USD 10,100.30 million by 2029. The market is expected to grow with a CAGR of 6.26% in the forecast period of 2022 to 2029.
“Increasing prevalence of osteoarthritis boosts the market’s growth”
The growing prevalence of osteoarthritis is expected to drive the growth of the osteoarthritis treatment market. Osteoarthritis, caused by factors such as injury and obesity, leads to severe joint pain, stiffness, swelling, and reduced range of motion. According to a study published in the Lancet Journal, over 500 million people worldwide, predominantly women, were affected by osteoarthritis in 2019, with a 48% increase in the global population affected from 1990 to 2019. Osteoarthritis ranked as the 15th leading cause of years lived with disability in 2019. Therefore, the increasing prevalence of osteoarthritis is driving the market’s growth.
What restraints the growth of the osteoarthritis treatment market?
“Lack of disease-modifying treatments restraints the market’s growth”
The growth of the osteoarthritis treatment market is restrained by the absence of disease-modifying treatments. Currently, available therapies primarily focus on managing symptoms rather than targeting the underlying disease progression. The lack of effective treatments that can slow down or halt the degenerative process limits the options for patients and healthcare providers. This gap in disease-modifying treatments hampers the market's growth potential and highlights the need for continued research and development efforts to discover innovative therapies that can truly modify the course of osteoarthritis. Therefore, the lack of disease-modifying treatments restraints the market’s growth.
Segmentation: Osteoarthritis Treatment Market
The osteoarthritis treatment market is segmented on the basis of anatomy, drug type, treatment type, diagnosis, dosage form, route of administration, end-users, and distribution channel.
- On the basis of anatomy, the osteoarthritis treatment market has been segmented into hand osteoarthritis, knee osteoarthritis, hip osteoarthritis, and small joint osteoarthritis.
- On the basis of drug type, the osteoarthritis treatment market has been segmented into prescription drugs, and over-the-counter drugs.
- On the basis of treatment type, the osteoarthritis treatment market has been segmented into medication, surgery, and therapy.
- On the basis diagnosis, the osteoarthritis treatment market has been segmented into imaging tests, joint fluid analysis, blood tests, and others.
- On the basis dosage form, the osteoarthritis treatment market has been segmented into tablets, injections, and others.
- On the basis route of administration, the osteoarthritis treatment market has been segmented into oral, parenteral, and others.
- On the basis end-users, the osteoarthritis treatment market has been segmented into hospitals, specialty clinics, homecare, and others.
- On the basis distribution channel, the osteoarthritis treatment market has been segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others.
Regional Insights: North America dominates the osteoarthritis treatment market
North America dominates the osteoarthritis treatment market is driven by the introduction of new treatment options. Furthermore, increased healthcare expenditure and the availability of diverse treatment options will contribute to the further acceleration of market growth in this region.
Asia-Pacific is expected to grow during the forecast period owing to the presence of generic manufacturers. Additionally, the development of healthcare infrastructure and the increasing geriatric population will further contribute to the acceleration of market growth in this region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-osteoarthritis-treatment-market
Recent Development
- In December 2020, Moebius Medical had announced the investigational new drug (IND) application for MM-II, a promising candidate for treating knee osteoarthritis (OA) pain, has received clearance from the US Food and Drug Administration (FDA). This clearance enables the initiation of a Phase IIb clinical trial, which will be conducted across multiple centers worldwide. MM-II presents a novel approach to addressing the pain associated with knee OA, and this milestone paves the way for further evaluation and potential advancements in the treatment of this condition.
The Prominent Key Players Operating in the Osteoarthritis Treatment Market Include:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd.(Israel)
- Sanofi (France), Pfizer Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- Zydus Cadila (India)
- Boehringer Ingelheim International GmbH. (Germany)
- Apotex Inc. (Canada)
- AstraZeneca (U.K.)
- Horizon Therapeutics PLC (Ireland)
- Johnson & Johnson Private Limited (U.S.)
- Bayer AG (Germany)
- Perrigo Company plc (Ireland)
- Tolmar Pharmaceuticals, Inc. (U.S.)
- Reckitt Benckiser Group PLC (U.K.)
- Sun Pharmaceutical Industries Ltd. (India)
- Assertio Therapeutics, Inc. (U.S.)
- DAIICHI SANKYO COMPANY, LIMITED (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of osteoarthritis treatment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Osteoarthritis Treatment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
