The global osteoarthritis therapeutics market size reached US$ 7.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2023-2028.
Osteoarthritis (OA) is a heterogeneous condition characterized by progressive degeneration of cartilage in joints of the knees, hips, hands, feet, spine, shoulders and neck. OA generally leads to stiffness, swelling, tenderness, persistent pain, loss of flexibility, grating sensation, bone spurs and sleep disturbances. It can be diagnosed using physical examination, X-ray, arthroscopy, joint fluid analysis, blood tests and magnetic resonance imaging (MRI) scan. Various medications and surgical procedures are prescribed as per the different results to alleviate the signs and symptoms of the disease. Currently, alternative medicines, physical therapies and supportive devices are available in the market to relieve pain and improve joint function.
Global Osteoarthritis Therapeutics Market Trends and Drivers:
Sedentary lifestyles, unhealthy dietary patterns and the rising prevalence of obesity and blood sugar are increasing the risk of developing OA among individuals. This, in confluence with the growing geriatric population, which is more susceptible to such ailments, represents one of the key factors impelling the osteoarthritis therapeutics market growth. Apart from this, the easy access to MRI scans is acting as another major growth-inducing factor. Additionally, the development of imaging biomarkers based on radiographic features, coupled with the introduction of analgesic drugs, is contributing to the market growth. Furthermore, rising investments in the research and development (R&D) activities to launch new diagnostics and biomarkers, along with the increasing expenditures on improving healthcare infrastructure, is also driving the market. For instance, disease-modifying drugs are under development, which focus on proinflammatory cytokines for treating cartilage breakdown.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global osteoarthritis therapeutics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on anatomy type, drug type, route of administration and distribution channel.
Breakup by Anatomy Type:
Breakup by Drug Type:
Nonsteroidal Anti-Inflammatory Drugs
Breakup by Route of Administration:
Breakup by Distribution Channel:
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being 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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Key Questions Answered in This Report
The global osteoarthritis therapeutics market was valued at US$ 7.3 Billion in 2022.
We expect the global osteoarthritis therapeutics market to exhibit a CAGR of 8.2% during 2023-2028.
The rising prevalence of obesity, along with the introduction of imaging biomarkers that offer radiographic features, is primarily driving the global osteoarthritis therapeutics market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective osteoarthritis surgical procedures to reduce the risk of the coronavirus infection upon hospital visits and interaction with healthcare professionals, thereby negatively impacting the global market for osteoarthritis therapeutics.
Based on the anatomy type, the global osteoarthritis therapeutics market has been divided into knee, hip, hand, spine, and others, where knee currently holds the majority of the total market share.
Based on the drug type, the global osteoarthritis therapeutics market can be segmented into nonsteroidal anti-inflammatory drugs, analgesics, corticosteroids, and others. Currently, nonsteroidal anti-inflammatory drugs exhibit a clear dominance in the market.
Based on the route of administration, the global osteoarthritis therapeutics market has been categorized into parenteral, topical, and oral. Among these, parenteral currently accounts for the largest market share.
Based on the distribution channel, the global osteoarthritis therapeutics market can be bifurcated into hospitals, specialty clinics, medical institutions, and others. Currently, hospitals exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global osteoarthritis therapeutics market 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.
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