The global osteoarthritis therapeutics market was valued at $6,754.1 million in 2020, and is estimated to reach $15,693.8 million by 2030, growing at a CAGR of 8.8% from 2021 to 2030.
Osteoarthritis is defined as the progressive and chronic condition, which mostly affects the spine, hands, knee, ankles, and hips. It is the most common form of arthritis. It is characterized by the wearing of cartilage, which further results in reduction in friction and causes swelling, loss of motion, and pain. Different types of drugs available for the treatment of osteoarthritis are acetaminophen, duloxetine, and nonsteroidal anti-inflammatory drugs.
The growth of the global osteoarthritis therapeutics market is majorly driven by alarming increase in the prevalence of osteoarthritis; rise in government initiative for development of effective treatment option; surge in application of biomarker in drug development; advancement in cell based research for pain management; and rise in geriatric population. For instance, according to the Lancet, in 2020, approximately 654.1 million people above the age of 40 years were reported to be diagnosed with knee osteoarthritis across the globe. Moreover, the Centers for Disease Control and Prevention, in 2018, announced the CDC arthritis program funds to 13 state programs by DP18-1803, state public health approaches to improve arthritis management and enhance the quality of life. The CDC arthritis program offered an average funding of $289,000 annually from July 1 2018. Furthermore, in September 2021, the American Academy of Orthopedic Surgeons (AAOS) released updates, clinical practice guideline indicating the high molecular weight cross linked hyaluronic treatments for knee osteoarthritis.
Thus, an increase in research activities in osteoarthritis and rise in funds by government and private organization for development of therapeutic drug is expected to propel the growth of the market.
Increase in the number of female population and adoption of different strategy of market players in drug development are the major factors that drive the global osteoarthritis therapeutics market. According to Australian Institute of Health and Welfare, in 2020, it was reported that 3 in 5 individuals diagnosed with osteoarthritis are female. Female is more prone to knee and hip osteoarthritis due to hormonal change. Moreover, increase in incidence of knee osteoarthritis significantly contributes to the market growth. Rise in demand for effective treatment acts a key driving force for the expansion of the global market. Furthermore, governments have taken multiple initiatives to develop a research center, and increase in number of clinical trials for osteoarthritis drug development is expected to boost the market growth.
For instance, in 2020, a researcher from the University of Liverpool, in the UK, developed a new drug candidate APPA (apocynin and paeonol) for the treatment of osteoarthritis, without any harm to the immune system of the body. Thus, advancements in research activities for advanced drug therapeutics in emerging nations are anticipated to provide lucrative opportunities for the market expansion.
However, high cost of drugs used for osteoarthritis and risks associated with the use of nonsteroidal anti-inflammatory drugs, such as stomach ulcer, dizziness, and allergic reaction, are anticipated to hinder the market growth. Rise in the healthcare sector for pain management in osteoarthritis, rise in per capital income, and increase in awareness among the population of early treatment augment the growth of osteoarthritis therapeutics. This has further encouraged many key players to enter emerging markets, thus offering lucrative growth opportunity for the osteoarthritis therapeutics market.
The global osteoarthritis therapeutics market is segmented into anatomy, drug type, distribution channel, and region. By anatomy, the market is categorized into knee osteoarthritis, hip osteoarthritis, hand osteoarthritis, and small joint osteoarthritis.
Depending on drug type, it is fragmented into viscosupplementation agents, nonsteroidal anti-inflammatory drugs, analgesics, and corticosteroids. On the basic of distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global osteoarthritis therapeutics market are Abbott Laboratories, Bayer AG, Flexion Therapeutics, Inc., GlaxoSmithKline plc., Horizon Therapeutics plc., Johnson & Johnson, Novartis, Pfizer Inc., Sanofi, and Zimmer Biomet Holding.
Osteoarthritis is defined as the progressive and chronic condition, which mostly affects the spine, hands, knee, ankles, and hips. It is the most common form of arthritis. It is characterized by the wearing of cartilage, which further results in reduction in friction and causes swelling, loss of motion, and pain. Different types of drugs available for the treatment of osteoarthritis are acetaminophen, duloxetine, and nonsteroidal anti-inflammatory drugs.
The growth of the global osteoarthritis therapeutics market is majorly driven by alarming increase in the prevalence of osteoarthritis; rise in government initiative for development of effective treatment option; surge in application of biomarker in drug development; advancement in cell based research for pain management; and rise in geriatric population. For instance, according to the Lancet, in 2020, approximately 654.1 million people above the age of 40 years were reported to be diagnosed with knee osteoarthritis across the globe. Moreover, the Centers for Disease Control and Prevention, in 2018, announced the CDC arthritis program funds to 13 state programs by DP18-1803, state public health approaches to improve arthritis management and enhance the quality of life. The CDC arthritis program offered an average funding of $289,000 annually from July 1 2018. Furthermore, in September 2021, the American Academy of Orthopedic Surgeons (AAOS) released updates, clinical practice guideline indicating the high molecular weight cross linked hyaluronic treatments for knee osteoarthritis.
Thus, an increase in research activities in osteoarthritis and rise in funds by government and private organization for development of therapeutic drug is expected to propel the growth of the market.
Increase in the number of female population and adoption of different strategy of market players in drug development are the major factors that drive the global osteoarthritis therapeutics market. According to Australian Institute of Health and Welfare, in 2020, it was reported that 3 in 5 individuals diagnosed with osteoarthritis are female. Female is more prone to knee and hip osteoarthritis due to hormonal change. Moreover, increase in incidence of knee osteoarthritis significantly contributes to the market growth. Rise in demand for effective treatment acts a key driving force for the expansion of the global market. Furthermore, governments have taken multiple initiatives to develop a research center, and increase in number of clinical trials for osteoarthritis drug development is expected to boost the market growth.
For instance, in 2020, a researcher from the University of Liverpool, in the UK, developed a new drug candidate APPA (apocynin and paeonol) for the treatment of osteoarthritis, without any harm to the immune system of the body. Thus, advancements in research activities for advanced drug therapeutics in emerging nations are anticipated to provide lucrative opportunities for the market expansion.
However, high cost of drugs used for osteoarthritis and risks associated with the use of nonsteroidal anti-inflammatory drugs, such as stomach ulcer, dizziness, and allergic reaction, are anticipated to hinder the market growth. Rise in the healthcare sector for pain management in osteoarthritis, rise in per capital income, and increase in awareness among the population of early treatment augment the growth of osteoarthritis therapeutics. This has further encouraged many key players to enter emerging markets, thus offering lucrative growth opportunity for the osteoarthritis therapeutics market.
The global osteoarthritis therapeutics market is segmented into anatomy, drug type, distribution channel, and region. By anatomy, the market is categorized into knee osteoarthritis, hip osteoarthritis, hand osteoarthritis, and small joint osteoarthritis.
Depending on drug type, it is fragmented into viscosupplementation agents, nonsteroidal anti-inflammatory drugs, analgesics, and corticosteroids. On the basic of distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global osteoarthritis therapeutics market are Abbott Laboratories, Bayer AG, Flexion Therapeutics, Inc., GlaxoSmithKline plc., Horizon Therapeutics plc., Johnson & Johnson, Novartis, Pfizer Inc., Sanofi, and Zimmer Biomet Holding.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global osteoarthritis therapeutics market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global osteoarthritis therapeutics market.
KEY MARKET SEGMENTS
By Anatomy
- Knee Osteoarthritis
- Hip Osteoarthritis
- Hand Osteoarthritis
- Small Joint Osteoarthritis
By Drug Type
- Viscosupplementation Agents
- Non-steroidal Anti-inflammatory Drugs
- Analgesics
- Corticosteroids
By Distribution Channel
- Hospital Pharmacies
- Knee Osteoarthritis
- Hip Osteoarthritis
- Hand Osteoarthritis
- Small Joint Osteoarthritis
- Retail Pharmacies
- Knee Osteoarthritis
- Hip Osteoarthritis
- Hand Osteoarthritis
- Small Joint Osteoarthritis
- Online Pharmacies
- Knee Osteoarthritis
- Hip Osteoarthritis
- Hand Osteoarthritis
- Small Joint Osteoarthritis
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Abbott Laboratories
- Bayer AG
- Flexion Therapeutics, Inc.
- GlaxoSmithKline plc.
- Horizon Therapeutics plc.
- Johnson & Johnson
- Novartis
- Pfizer Inc.
- Sanofi
- Zimmer Biomet Holding
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: OSTEOARTHRITIS THERAPEUTICS MARKET, BY ANATOMY
CHAPTER 5: OSTEOARTHRITIS THERAPEUTICS MARKET, BY DRUG TYPE
CHAPTER 6: OSTEOARTHRITIS THERAPEUTICS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: OSTEOARTHRITIS THERAPEUTICS MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Abbott Laboratories
- Bayer AG
- Flexion Therapeutics Inc.
- GlaxoSmithKline plc.
- Horizon Therapeutics plc.
- Johnson & Johnson
- Novartis
- Pfizer Inc.
- Sanofi and Zimmer Biomet Holding
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 288 |
| Published | October 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 6754.1 million |
| Forecasted Market Value ( USD | $ 15693.8 million |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
