The osteoarthritis therapeutics market is expected to grow from USD 7.3 billion in 2020 to reach USD 13.1 billion by 2027, at a CAGR of 8.7 %. This industry is experiencing significant growth due to the rapid growth in the geriatric and obese population and the associated increase in the prevalence of osteoarthritis disease.
Risk of adverse cardiovascular events associated with the use of NSAIDs in osteoarthritis treatment is likely to hamper the growth of the market. Osteoarthritis is the most common form of arthritis which causes pain, swelling, and reduced motion in the joints. Usually, osteoarthritis affected joints are inclusive of hands, knees, hips and spine. Osteoarthritis breaks the cartilage of the joints which is a slippery tissue covering the ends of bones in a joint. Geriatric population and over-weighted individuals are at higher risks of osteoarthritis. The availability of advanced diagnostic modalities such as magnetic resonance imaging (MRI) and imaging biomarkers have helped in addressing the efficacy of novel drugs for osteoarthritis treatment. MRI is increasingly replacing X-ray imaging techniques for the visualization of articular cartilage and intra-articular structures. The use of imaging biomarkers is also increasing in the identification of biosignals, which helps in predicting the response to NSAIDs in osteoarthritis patients. The development of imaging biomarkers based on radiographic features such as Kellgren-Lawrence will further boost its adoption in osteoarthritis treatment. The availability of improved diagnostic modalities will be one of the significant factors driving osteoarthritis therapeutics market growth.
Extensive research and development have helped in understanding molecular pathways and identifying drug targets for osteoarthritis treatment. This has subsequently aided the development of analgesic drugs, which can selectively target most of the pathways such as G-protein coupled receptors and voltage-sensitive calcium channels. Disease-modifying drugs are also under development, which focuses on proinflammatory cytokines responsible for cartilage breakdown in osteoarthritis. In addition to the availability of improved diagnostic modalities, the expanding research and development activities will also contribute to the growth of the osteoarthritis therapeutics market. As a result, the market will register at a CAGR of almost 9% during the forecast period.
The prominent players operating in this market include Sanofi (France), Horizon Therapeutics (Ireland), Johnson & Johnson (US), GlaxoSmithKline Plc (UK), Bayer AG (Germany), Abbott (US), Pfizer (US), Eli Lilly (US), Anika Therapeutics (US), Novartis (Switzerland), Bioventus (US) Zimmer Biomet Holdings, Inc. (US), Flexion Therapeutics (US) and FidiaFarmaceuticis.p.a. (Italy).
America dominates the global osteoarthritis market owing to a well-developed healthcare sector and huge patient population for osteoarthritis. Apart from this, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in America
Europe is the second largest osteoarthritis market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, increasing healthcare expenditures, well-developed healthcare sector and government support for research & development are projected to drive the market growth during the forecasted period. Regionally, Europe is divided into Western Europe and Eastern Europe. Western Europe hold the major share of the regional market, which is majorly contributed by Germany, the U.K., and France. However, Eastern Europe is the fastest growing region due the huge opportunities in the untapped market.
Asia Pacific is the fastest growing region in global the market due to the presence of a huge patient population, continuously developing economies like India and China, and presence of huge opportunity in the market.. Moreover, favourable government policies and increasing healthcare expenditures fuels the market growth within the region.
Risk of adverse cardiovascular events associated with the use of NSAIDs in osteoarthritis treatment is likely to hamper the growth of the market. Osteoarthritis is the most common form of arthritis which causes pain, swelling, and reduced motion in the joints. Usually, osteoarthritis affected joints are inclusive of hands, knees, hips and spine. Osteoarthritis breaks the cartilage of the joints which is a slippery tissue covering the ends of bones in a joint. Geriatric population and over-weighted individuals are at higher risks of osteoarthritis. The availability of advanced diagnostic modalities such as magnetic resonance imaging (MRI) and imaging biomarkers have helped in addressing the efficacy of novel drugs for osteoarthritis treatment. MRI is increasingly replacing X-ray imaging techniques for the visualization of articular cartilage and intra-articular structures. The use of imaging biomarkers is also increasing in the identification of biosignals, which helps in predicting the response to NSAIDs in osteoarthritis patients. The development of imaging biomarkers based on radiographic features such as Kellgren-Lawrence will further boost its adoption in osteoarthritis treatment. The availability of improved diagnostic modalities will be one of the significant factors driving osteoarthritis therapeutics market growth.
Extensive research and development have helped in understanding molecular pathways and identifying drug targets for osteoarthritis treatment. This has subsequently aided the development of analgesic drugs, which can selectively target most of the pathways such as G-protein coupled receptors and voltage-sensitive calcium channels. Disease-modifying drugs are also under development, which focuses on proinflammatory cytokines responsible for cartilage breakdown in osteoarthritis. In addition to the availability of improved diagnostic modalities, the expanding research and development activities will also contribute to the growth of the osteoarthritis therapeutics market. As a result, the market will register at a CAGR of almost 9% during the forecast period.
The prominent players operating in this market include Sanofi (France), Horizon Therapeutics (Ireland), Johnson & Johnson (US), GlaxoSmithKline Plc (UK), Bayer AG (Germany), Abbott (US), Pfizer (US), Eli Lilly (US), Anika Therapeutics (US), Novartis (Switzerland), Bioventus (US) Zimmer Biomet Holdings, Inc. (US), Flexion Therapeutics (US) and FidiaFarmaceuticis.p.a. (Italy).
America dominates the global osteoarthritis market owing to a well-developed healthcare sector and huge patient population for osteoarthritis. Apart from this, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in America
Europe is the second largest osteoarthritis market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, increasing healthcare expenditures, well-developed healthcare sector and government support for research & development are projected to drive the market growth during the forecasted period. Regionally, Europe is divided into Western Europe and Eastern Europe. Western Europe hold the major share of the regional market, which is majorly contributed by Germany, the U.K., and France. However, Eastern Europe is the fastest growing region due the huge opportunities in the untapped market.
Asia Pacific is the fastest growing region in global the market due to the presence of a huge patient population, continuously developing economies like India and China, and presence of huge opportunity in the market.. Moreover, favourable government policies and increasing healthcare expenditures fuels the market growth within the region.
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