Growth opportunities in the osteoarthritis therapeutics market look promising over the next six years. This is mainly due to the high acceptance of replacements in pain treatment and the increasing advancement in therapeutics.
Osteoarthritis Therapeutics Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
In accordance with the NCBI, osteoarthritis accounts to be the second widespread rheumatologic disease and the most frequent joint disease with an excessive prevalence rate in Asian countries, which include China, Japan, and India. Also, the NCBI asserted that the occurrence rate in India is approximately 22 to 39 % which is declared as high by the “National Center for Biotechnology Information.” Moreover, the report by World Health Organisation states that almost 130 million of the total population will have this disease, and nearly 40 million people will be severely injured by the same by the end of 2050, which is strengthening the osteoarthritis therapeutics market size. Moreover, the development in therapeutics including the latest treatment targets for osteoarthritis-like knee cartilage degeneration established by the University of Pennsylvania has supported the market growth. The high adoption of pain treatments for the condition led by its easy administration and low price expands the market share. For example, replacements like orthopaedic braces are exercised as a non-invasive method for pain supervision.
Furthermore, amid the drug types, the consumption of corticosteroids has reduced. Even though there is no indication that their consumption raises the risk of infection, there is a possible contraction in the immune response for a few weeks following the protocol. However, the risk of dangerous cardiovascular incidences concerned with implementing NSAIDs in osteoarthritis treatment is obstructing the osteoarthritis therapeutics market share.
Type Segment Drivers
Based on the type, hip osteoarthritis is projected to expand at a faster CAGR in the market over the forecast period. This is primarily attributed to the accelerating population above the age of 60 years. For instance, according to the report published by the WHO, the population aged 60 years is likely to touch 2 billion, by the end of 2050, owing to the significant growth in the percentage of average life expectancy, which will bolster the market growth.
Osteoarthritis Therapeutics Market’s leading Manufacturers:
- Anika Therapeutics Inc.
- Sanofi
- Novartis AG
- GlaxoSmithKline Plc
- Bayer AG
- Zimmer Biomet Holdings Inc.
- Pfizer Inc.
- Johnson & Johnson
- Hoffmann-La Roche Ltd.
- Abbott Laboratories
Osteoarthritis Therapeutics Market Segmentation:
Segmentation by Type
- Hip Osteoarthritis
- Spinal Osteoarthritis
- Others
Segmentation by Treatment Type
- Medication
- Surgery
- Therapy
Segmentation by Route of Administration
- Oral
- Parenteral
- Others
Segmentation by End-Users
- Hospitals
- Homecare
- Specialty Clinics
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
