The global demand for Osteoarthritis Therapeutics Market is presumed to reach the market size of nearly USD 17.41 MN by 2028 from USD 9.11 MN in 2021 with a CAGR of 9.7% under the study period 2022 - 2028.
Osteoarthritis is a prevalent chronic health condition marked by chronic pain, impairment, and decreased mobility. Osteoarthritis cannot be cured; however, treatments can alleviate pain and improve mobility. Among the medications that can help treat osteoarthritis symptoms, particularly pain, involves Acetaminophen (Tylenol, among others), Nonsteroidal anti-inflammatory medications (NSAIDs). When used at the appropriate doses, over-the-counter NSAIDs like ibuprofen (Advil, Motrin IB, and others) and naproxen sodium (Aleve) often reduce osteoarthritis pain. Other treatments for osteoarthritis include physical therapy, occupational therapy, and transcutaneous electrical nerve stimulation (TENS). Cortisone injections, lubrication injections, bone realignment, and joint replacement are among surgical treatments used to treat osteoarthritis.
Market Dynamics
The rise in the prevalence of osteoarthritis, advancements in R&D activities for drug development, increased funding from private and government organizations for the development of the healthcare sector and research centres, and increased demand for cell-based research activities are driving the growth of the osteoarthritis therapeutics market. Furthermore, the growing elderly population promotes the growth of the osteoarthritis treatments market, as older people are more prone to osteoarthritis. However, the risk of adverse cardiovascular events related to NSAIDs in osteoarthritis treatment might hinder the market development.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of osteoarthritis therapeutics. The growth and trends of osteoarthritis therapeutics industry provide a holistic approach to this study.
Market Segmentation
This section of the osteoarthritis therapeutics market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
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
- Retail Pharmacies
- Online Pharmacies
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Osteoarthritis Therapeutics market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Osteoarthritis Therapeutics Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the osteoarthritis therapeutics market include Abbott Laboratories, Bayer AG, Flexion Therapeutics, Inc., and GlaxoSmithKline plc., Horizon Therapeutics plc., Johnson & Johnson, Novartis, Pfizer Inc., Sanofi, and Zimmer Biomet Holding. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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