About Osteoarthritis Therapeutics
Osteoarthritis is a primary cause of pain & disability among adults with a current frequency of ~15% and a predicted prevalence of ~35% by 2030. It can affect any joint, but mostly the knees, hips, lower back and neck and small joints of fingers. It is a chronic (long-term) disease for which there is no cure. As per an estimation, over 30 million adults in the United States have osteoarthritis. Moreover, one in four adults will develop symptoms of hip osteoarthritis by age 85 and one in 12 people aged over 60 have hand osteoarthritis. The use of prescription and over-the-counter medications to reduce pain and decrease inflammation has increased rapidly since last few years. In addition, the government support for research & development for osteoarthritis treatment will create growth opportunities for the global osteoarthritis treatment market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 9.05% |
The market is fragmented by numerous key players who have the bargaining power high in the global osteoarthritis therapeutics market as the market is dominated by several key players. The intensity of rivalry appears to be high in this market as competitors are numerous and the drugs are undifferentiated. Analyst at AMA Research estimates that United States and European Players will contribute the maximum growth to Global Osteoarthritis Therapeutics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sanofi (France), Horizon Therapeutics PLC (Ireland), Johnson & Johnson (United States), GlaxoSmithKline PLC (United Kingdom), Bayer AG (Germany), Abbott (United States), Pfizer, Inc. (United States), Eli Lilly (United States), Anika Therapeutics, Inc. (United States) and Novartis AG (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ferring Pharmaceuticals (Switzerland), Bioventus (United States), Zimmer Biomet Holdings, Inc. (United States), Fidia Farmaceutici s.p.a. (Italy), Pharmed Limited (India), Hanmi Pharm. Co., Ltd. (Korea) and Laboratorio Reig Jofre (Spain).
Segmentation Overview
AMA Research has segmented the market of Global Osteoarthritis Therapeutics market by Type (Primary osteoarthritis and Secondary osteoarthritis), Application (Lifestyle changes. Exercise, Pain relief medicines, Supportive treatments, Surgery and Complementary and alternative therapies) and Region.
On the basis of geography, the market of Osteoarthritis Therapeutics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Drug Type, the sub-segment i.e. Prescription Drugs will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Route of Administration, the sub-segment i.e. Parenteral Route will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Hospital Pharmacies will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Anatomy, the sub-segment i.e. Knee Osteoarthritis will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Personalized Medicines For Osteoarthritis
Market Growth Drivers:
Growing Occurrence Of Orthopedic Disorders, Adoption Of Pain Killer Medications To Avoid Surgical Procedures and Rising Number Of Sports Injuries
Challenges:
Adoption Of Non-Drug Pain Management Therapies
Restraints:
High Cost Associated With Drugs
Opportunities:
Growing Population Susceptible To Osteoarthritis and Collaborations For Product Development
Market Leaders and their expansionary development strategies
In December, 2023 Eli Lilly and Company announced the successful completion of its acquisition of POINT Biopharma Global Inc. a radiopharmaceutical company with a pipeline of clinical and preclinical stage radioligand therapies in development for the treatment of cancer.
In February 2020, FDA approves GlaxoSmithKline’s product named Voltaren Arthritis Pain for over-the-counter use in the United States. This product was developed to provide temporary relief of arthritis pain in the hand, wrist, elbow, foot, knee in adults (18 years and older).ankle or
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Osteoarthritis Therapeutics Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.