According to the latest report by IMARC Group, titled "Osteoarthritis Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global osteoarthritis therapeutics market reached a value of US$ 7.3 Billion in 2022. Osteoarthritis is a common and debilitating joint disease affecting millions worldwide. It is characterized by the degeneration of joint cartilage, which can result in pain, stiffness, and reduced mobility. As the world's population ages, the incidence of osteoarthritis is expected to increase, making the development of effective osteoarthritis therapeutics an essential and growing field. There are currently several types of osteoarthritis therapeutics available, including pain management medications, joint injections, and physical therapy. Pain management medications, such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, are often the first line of treatment for osteoarthritis. These medications can help to relieve pain and reduce inflammation, allowing patients to maintain their normal activities. Joint injections, such as corticosteroids or hyaluronic acid, can help to relieve pain, reduce inflammation, and improve joint function. In addition, physical therapy is often recommended for patients with osteoarthritis as it can help strengthen the muscles surrounding the affected joint and improve flexibility and mobility.
Global Osteoarthritis Therapeutics Market Trends:
The global market is majorly driven by the increasing prevalence of osteoarthritis. In line with this, the rising interest in regenerative medicines and biologic therapies is significantly contributing to the market. Furthermore, the growing demand for effective and innovative therapies is positively influencing the market. Apart from this, the increasing demand for pain management medications, such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, is catalyzing the market. These medications are widely used and considered to be safe and effective, thus making them a popular choice for managing osteoarthritis. Moreover, joint injections, such as corticosteroids or hyaluronic acid, are also commonly used to manage osteoarthritis as they offer a more targeted approach to pain relief and improved joint function. Besides, the introduction of biologic medications, such as tumor necrosis factor (TNF) inhibitors and regenerative medicine, including stem cell therapy and platelet-rich plasma (PRP) therapy, are creating a positive outlook for the market. The improving healthcare infrastructure worldwide is further strengthening the market growth. Additionally, heavy investments by governments worldwide in cell-based research are expected to provide a boost to the market. On account of the factors above, the market is anticipated to reach a value of US$ 11.7 Billion by 2028, exhibiting a CAGR of 8.2% during 2023-2028.
- On the basis of the anatomy type, the market has been categorized into knee, hip, hand, spine, and others.
- Based on the drug type, the market has been classified into nonsteroidal anti-inflammatory drugs, analgesics, corticosteroids, and others.
- Based on the route of administration, the market has been segmented into parenteral, topical, and oral.
- Based on the distribution channel, the market has been categorized into hospitals, specialty clinics, medical institutions, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Pfizer Inc. and Sanofi S.A.
|Base Year of the Analysis
||Anatomy Type, Drug Type, Route of Administration, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Pfizer Inc. and Sanofi S.A
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