The osteoarthritis therapy market size is projected to grow from US$ 17.36 billion in 2022 to US$ 30.68 billion by 2030; the market is estimated to record a CAGR of 7.4% during 2022-2030. The rising prevalence of osteoarthritis and innovative therapy options reducing dependency on medications are the key factors propelling the osteoarthritis therapy market development. However, product recall hamper the osteoarthritis therapy market growth. Furthermore, more effective treatment options to fuel osteoarthritis therapy acts as a lucrative market trend during the forecast period.
According to the World Health Organization (WHO) report, osteoarthritis is more prevalent among the older population. Also, OA can affect anyone, but the condition is most commonly observed in adults aged 40 years and above. Also, the WHO report further reveals that about 73% of the population is older than 55 years and living with OA, among which 60% are female. According to the Centers for Disease Control and Prevention (CDC) report, over 32.5 million adults in the US are affected by OA. Thus, with the rising prevalence of OA and, new therapy options, such as biological therapy, are gaining attention worldwide. Platelet-rich plasma (PRP) therapy is one example that has emerged as a promising OA treatment. PRP enhances tissue recovery by catalyzing the body's natural healing and tissue repair processes.
The other segment is estimated to register the highest CAGR for the osteoarthritis therapy market. Another therapy is rehabilitation therapy for osteoarthritis. The rehabilitation program is designed to reduce pain and increase functionality quickly. The rehabilitation's main goal is to relieve knee OA symptoms and slow its progression. The future perspective and rehabilitation include nonpharmacological management of OA followed by exercise, which effectively improves the quality of life, joint function, muscle power, strength, and functional performance. Therefore, modifications in rehabilitation programs will ultimately reduce the patients' osteoarthritis pain, bolstering the osteoarthritis therapy market growth during the forecast period.
Further, new product approvals by the manufacturers aiming for non-pharmacology therapy for OA pain influence the osteoarthritis therapy market growth. In June 2021, CyMedica Orthopedics announced receiving FDA approval for the "Intellihab System," a noninvasive modality for knee osteoarthritis pain. The new product launch is a therapeutic and digital-based ecosystem that is designed to treat OA pain with a debilitating osteoarthritis disease. Therefore, new non-pharmacology therapy intended to reduce dependency on therapeutics in OA treatment would fuel the growth of the osteoarthritis therapy market during the forecast period.
Reasons to Buy
Growth Drivers:
Rising Prevalence of Osteoarthritis Drives Osteoarthritis Therapy Market Growth
Globally, OA affects more than 500 million people, accounting for 7% of the world's population, according to the CDC report. It represents a major cause of long-term disability. Osteoarthritis is more prevalent among athletes and people who sustain joint injury or trauma. Moreover, it is more prevalent among women, accounting for 60% of global osteoarthritis cases.According to the World Health Organization (WHO) report, osteoarthritis is more prevalent among the older population. Also, OA can affect anyone, but the condition is most commonly observed in adults aged 40 years and above. Also, the WHO report further reveals that about 73% of the population is older than 55 years and living with OA, among which 60% are female. According to the Centers for Disease Control and Prevention (CDC) report, over 32.5 million adults in the US are affected by OA. Thus, with the rising prevalence of OA and, new therapy options, such as biological therapy, are gaining attention worldwide. Platelet-rich plasma (PRP) therapy is one example that has emerged as a promising OA treatment. PRP enhances tissue recovery by catalyzing the body's natural healing and tissue repair processes.
Report Segmentation and Scope:
The osteoarthritis therapy market is segmented into therapy type, disease indication, and end user. Based on therapy type, the market is segmented into Transcutaneous Electrical Nerve Stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma (PRP) therapy and stromal vascular fraction, prolotherapy, and others. The market is segmented by disease indication into knee osteoarthritis, spine osteoarthritis, foot & ankle osteoarthritis, shoulder osteoarthritis, hand osteoarthritis, and others. In terms of end-users, the market is segmented into hospitals & clinics, specialty clinics, ambulatory surgical centers (ASCs), homecare, and others.Therapy Type-Based Insights
By therapy type, the osteoarthritis therapy market is segmented as transcutaneous electrical nerve stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma and stromal vascular fraction, prolotherapy, and others. The physical therapy segment held the largest market share of the osteoarthritis therapy market by therapy type segment in 2022. The others segment is anticipated to grow at the fastest CAGR of 7.5% during the forecast period. The physical therapy segment held the largest market share of the osteoarthritis therapy market by therapy type segment in 2022. The other segment is anticipated to grow at the fastest CAGR of 7.5% during the forecast period. Physical therapies, such as yoga, help improve physical function in patients affected by knee osteoarthritis. The clinical study reveals that the patients suffering from knee osteoarthritis receiving physical therapy (PT) have gained more quality-adjusted life-years than those receiving glucocorticoid injections. Additionally, physical therapy is clinically more effective than glucocorticoid injection; moreover, it is perceived as a more cost-effective option.The other segment is estimated to register the highest CAGR for the osteoarthritis therapy market. Another therapy is rehabilitation therapy for osteoarthritis. The rehabilitation program is designed to reduce pain and increase functionality quickly. The rehabilitation's main goal is to relieve knee OA symptoms and slow its progression. The future perspective and rehabilitation include nonpharmacological management of OA followed by exercise, which effectively improves the quality of life, joint function, muscle power, strength, and functional performance. Therefore, modifications in rehabilitation programs will ultimately reduce the patients' osteoarthritis pain, bolstering the osteoarthritis therapy market growth during the forecast period.
Disease Based Insights
The knee osteoarthritis segment held the largest market share of the osteoarthritis therapy market by disease indication segment in 2022, and the same segment is anticipated to grow at the fastest CAGR of 7.7% during the forecast period. According to the National Academy of Science report, knee osteoarthritis (KO) accounts for more than 80% of the total disease burden, affecting nearly 19% of American adults aged 45 years and above annually. Launches of innovative products by manufacturers can help reduce the burden of knee osteoarthritis. In September 2021, Contura International Ltd announced a new product launch, "Arthrosamid," an alternative to current therapy that fulfills an unmet clinical need for a safe, effective, long-acting, and minimally invasive treatment for alleviating pain associated with knee OA. Therefore, the rising prevalence of knee OA and innovative product launches to minimize osteoarthritis pain drive the osteoarthritis therapy market growth.End User-Based Insights
The homecare segment held the largest market share of the osteoarthritis therapy market by end-user segment in 2022. Additionally, the hospitals & clinics segment is estimated to register the highest CAGR of 7.5% during the forecast period. The first and foremost remedy to overcome arthritis is reducing excess body weight. Additionally, hot and cold therapies can bring back flexibility in stiff joints, which can help reduce joint pain. The use of electric blankets or moist heating pads proves helpful in reducing pain. However, cold treatments such as packs of ice or bags of frozen vegetables can be applied to the affected joints, giving relief. Availability of such treatment options proves to be a successful remedy for managing osteoarthritis at home, which drives the osteoarthritis therapy market growth for the homecare segment.Regional Analysis:
Based on geography, the global osteoarthritis therapy market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest global osteoarthritis therapy market share. Asia Pacific is expected to register the highest CAGR during 2022-2030. In the North American market, the US accounts for the largest market share of the osteoarthritis therapy market. According to the statistics revealed in the Centers for Disease Control and Prevention (CDC) report, osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million adults in the US. Additionally, the Osteoarthritis (OA) Action Alliance report reveals that the overall economic burden associated with OA in the US is estimated at US$ 136.8 billion annually. Further, the American Roentgen Ray Society ARRS report reveals that the lifetime risk of OA is 50%, and it is estimated that by 2040, ~78 million (26%) adults in the country will have OA.Further, new product approvals by the manufacturers aiming for non-pharmacology therapy for OA pain influence the osteoarthritis therapy market growth. In June 2021, CyMedica Orthopedics announced receiving FDA approval for the "Intellihab System," a noninvasive modality for knee osteoarthritis pain. The new product launch is a therapeutic and digital-based ecosystem that is designed to treat OA pain with a debilitating osteoarthritis disease. Therefore, new non-pharmacology therapy intended to reduce dependency on therapeutics in OA treatment would fuel the growth of the osteoarthritis therapy market during the forecast period.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the osteoarthritis therapy market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global osteoarthritis therapy market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Osteoarthritis Therapy Market Landscape
5. Osteoarthritis Therapy Market - Key Market Dynamics
6. Osteoarthritis Therapy Market - Global Market Analysis
7. Osteoarthritis Therapy Market Analysis - by Therapy Type
8. Osteoarthritis Therapy Market Analysis - by Disease Indication
9. Osteoarthritis Therapy Market Analysis - by End User
10. Osteoarthritis Therapy Market - Geographical Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Vision Quest Industries Inc
- Dr PRP USA LLC
- Estar Technologies Ltd
- Zimmer Biomet Holdings Inc
- DePuy Synthes Inc
- Bioventus Inc
- Omron Healthcare Inc
- Exactech Inc
- Medi GmbH & Co KG
- Zealmax Innovations Pvt Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 199 |
| Published | February 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 17.36 Billion |
| Forecasted Market Value by 2030 | 30.68 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
