Global Osteoarthritis Therapeutics Market – Industry Trends and Forecast to 2029

Global Osteoarthritis Therapeutics Market, By Type (Hip Osteoarthritis, Spinal Osteoarthritis, Others), Treatment Type (Medication, Surgery, Therapy), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Others) – Industry Trends and Forecast to 2029.

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Osteoarthritis Therapeutics Market Analysis and Size

The global joint disorders market is expected to witness significant growth during the forecast period. Osteoarthritis is more frequent in the aged population and those who are overweight. Both men and women are affected by the disease. Several advancements are made in diagnostic methods such as imaging joint fluid analysis and many such techniques.

Data Bridge Market Research analyses a growth rate in the global osteoarthritis therapeutics market in the forecast period 2022-2029. The expected CAGR of global osteoarthritis therapeutics market is tend to be around 9% in the mentioned forecast period. The market was valued at USD 6.70 million in 2021, and it would grow upto USD 13.35 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Osteoarthritis Therapeutics Market Scope and Segmentation

Market Definition

Osteoarthritis is chronic bone disorder associated with the inflammation of the joint cartilage breakdown of the surrounding bone. It is most common joint disease primarily affecting the joints of the hands, knees, hips and spine. The signs and symptoms are stiffness, pain, tenderness and swelling of the joints. This condition generally leads to swelling, tenderness, persistent pain, stiffness, loss of flexibility, grating sensation, bone spurs and sleep disturbances. It can be diagnosed using X-ray, arthroscopy, physical examination, joint fluid analysis, blood tests and magnetic resonance imaging (MRI) scan.

Global Osteoarthritis Therapeutics Market Dynamics

Drivers

• High Prevalence of Osteoarthritis

Its been witnessed that more than 350 million people have arthritis all over the globe. In the U.S., 1 in 4 adults have been reported with arthritis in 2020. It’s estimated to be 78 million by the year 2040. As per the statistics published by National Public Health Agenda for Osteoarthritis 2020, osteoarthritis affects around 1 in 7 U.S. adults that is 32.5 million people. This boosts the market growth.

• Increasing Demand of NSAIDs

Both over-the-counter and prescribed NSAIDs are frequently used to relieve pain in osteoarthritis patients. According to the National Center for Biotechnology Information in 2019, NSAIDs are prescribed to all osteoarthritis patients in the U.S. Likewise, in Europe, NSAIDs were prescribed to almost 60% of all osteoarthritis patients (47%) who took prescription medications. The wide use of nonsteroidal anti-inflammatory drugs (NSAIDs) has been associated with increased risk of cardiovascular events. Thus, this increasing demand is boosting the growth of the market.

Opportunities

• Increase in Elderly Population

Osteoarthritis is associated with aging and is more common among people with other comorbidities such as heart disease, obesity, and diabetes. Life expectancy is growing around the world, which has led to an increase in the aging population. This trend positively impacts the industry by increasing the incidence of the disease and creating per capita demand for its remedies. Thus, this aging population demands high therapeutics usage, which boost the market's growth.

• Growing Adoption of Viscosupplementation

Viscosupplementation is an effective local osteoarthritis treatment. With the growing occurrence of osteoarthritis and the high use of these agents for pain relief, the market is set to flourish. Moreover,  this procedure relieves stiffness and inflammation in the bones. Other segments such as analgesics are also projected to show a substantial rise in the forecast period due to factors such as these drugs are safe and simple. For surgical patients, they offer significant benefits over centrally acting opioid analgesics and central neuraxins blockade.

Restraints/Challenges

• Lack of skilled professionals

The lack of qualified personnel who are unable to perform the treatments could curb the growth of the global osteoarthritis therapeutics market over a forecast period.

• High Cost

The huge expenditure required for treatment process in terms of different antibiotics and surgery hamper the market growth.

This global osteoarthritis therapeutics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global osteoarthritis therapeutics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2019, Kitov Pharma Ltd. (Israel) made a partnership with Coeptis Pharmaceuticals, which helped in the effective distribution and commercialization of Consensi.

Global Osteoarthritis Therapeutics Market Scope

The global osteoarthritis therapeutics market is segmented on the basis of type, treatment type, route of administration, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Hip Osteoarthritis
• Spinal Osteoarthritis
• Others

Treatment Type

• Medication
• Surgery
• Therapy

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Others

Osteoarthritis Therapeutics Market Regional Analysis/Insights

The global osteoarthritis therapeutics market is analyzed and market size insights and trends are provided by type, treatment type, route of administration, end-user and distribution channel as referenced above.

The major countries covered in the global osteoarthritis therapeutics market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market due to the global leaders in research and development activities, vulnerable obesity population and increase in cases of osteoarthritis.

Asia-Pacific is expected to account for the largest market share due to the developing healthcare facilities, large number of generic manufacturers and rise in government initiatives and specialist communities.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Osteoarthritis Therapeutics Market Share Analysis

The global osteoarthritis therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global osteoarthritis therapeutics market.

Key players operating in the global osteoarthritis therapeutics market include:

• Pfizer Inc. (U.S.)
• Abbvie Inc. (U.S.)
• Novartis AG (Switzerland)
• Amgen Inc. (U.S.)
• Boehringer Ingelheim International GmbH. (Germany)
• Samsung Bioepis. (South Korea)
• Merck & Co Inc. (U.S.)
• Sun Pharmaceutical Industries Ltd. (India)
• Teva Pharmaceuticals Industries Ltd. (Israel)
• AstraZeneca PLC (U.K.)
• Zimmer Biomet (U.S.)
• Stryker Corporation (U.S.)