Osteoarthritis Therapeutics

PORTLAND, OR, UNITED STATES, March 29, 2023 /EINPresswire.com/ -- The Osteoarthritis therapeutics market refers to the industry that produces and offers treatments for osteoarthritis, a common form of arthritis that affects millions of people worldwide. Osteoarthritis is characterized by the breakdown of cartilage in the joints, leading to pain, stiffness, and loss of mobility.

The global osteoarthritis therapeutics market has been growing steadily in recent years, driven by factors such as an increase in the aging population, rising prevalence of osteoarthritis, and growing awareness about the condition. The global osteoarthritis therapeutics market size 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.

Some of the key 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. These companies offer a range of treatments for osteoarthritis, including nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and hyaluronic acid injections.

The osteoarthritis therapeutics market is highly regulated, and treatments must comply with strict safety and efficacy standards set by organizations such as the FDA and EMA. As a result, there is a growing demand for innovative and effective treatments that meet these requirements while also being affordable and accessible.

Overall, the osteoarthritis therapeutics market is expected to continue to grow in the coming years as the prevalence of osteoarthritis increases and technological advancements make treatments more effective and efficient. This presents both opportunities and challenges for providers, who must balance the need for innovation and safety with the need for profitability and growth.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/13056

Surge in the prevalence of osteoarthritis, rise in the geriatric population, and the increase in R&D activities for developing new and better drugs propel the market growth. On the other hand, risk associated with the use of non-steroidal anti-inflammatory drugs and cost of drugs used to treat osteoarthritis hinder the market growth. On the contrary, changes in government policies and rise in healthcare expenses across the world create opportunities for the market players.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐏𝐚𝐧𝐝𝐞𝐦𝐢𝐜 𝐨𝐧 𝐎𝐬𝐭𝐞𝐨𝐚𝐫𝐭𝐡𝐫𝐢𝐭𝐢𝐬 𝐓𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐥𝐨𝐛𝐚𝐥𝐥𝐲?

Surge in the number of COVID-19 patients and drop in the use of non-steroidal anti-inflammatory drugs and corticosteroids negatively affected the market.

As per the World Health Organization guideline published in 2019, a systemic corticosteroid can be avoided in patients who are diagnosed with osteoarthritis along with COVID-19. This has contributed to the drop in the global osteoarthritis treatment market.

The report segments the global osteoarthritis therapeutics market on the basis of drug type, anatomy, distribution channel, and region.

The knee osteoarthritis segment accounted for the largest market share in 2020, contributing to more than three-fifths of the total share, and is expected to maintain the lead throughout the forecast period. The same segment is estimated to witness the fastest CAGR of 9.3% from 2021 to 2030. The report also covers other segments such as hip osteoarthritis, hand osteoarthritis, and small joint osteoarthritis.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟎 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://www.alliedmarketresearch.com/checkout-final/cffcef2f9508f77d3ccd34c761fa8c59

The nonsteroidal anti-inflammatory drugs segment contributed to the highest market share in 2020, contributing to nearly three-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the visco supplementation agents segment is expected to manifest the fastest CAGR of 9.7% from 2021–2030.

Europe followed by Asia-Pacific and North America, contributed to the highest share in 2020, holding nearly one-third of the total share, and is expected to maintain dominance throughout the forecast period. The Asia-Pacific region is expected to portray the fastest CAGR of 9.1% from 2021-2030.

Key players of the global osteoarthritis therapeutics market analysed in the research include Bayer AG, Pfizer Inc., Flexion Therapeutics, Inc., Abbott Laboratories, GlaxoSmithKline plc., Johnson & Johnson, Novartis, Horizon Therapeutics plc., Sanofi, and Zimmer Biomet Holding.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐚𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/13056

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

By anatomy, the knee osteoarthritis segment was the highest contributor to the market in 2020.

On the basis of drug type, the nonsteroidal anti-inflammatory drugs segment dominated the market in 2020, and is expected to continue this trend during the forecast period.

As per distribution channel, the hospital pharmacies segment was the highest contributor to the osteoarthritis therapeutics market in 2020.

Region-wise, Europe garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

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