Osteoarthritis Therapeutics Market to grow by USD 3.96 billion from 2022-2027, North America to account for 32% of market growth - Technavio
NEW YORK, Jan. 16, 2024 /PRNewswire/ -- The osteoarthritis therapeutics market size is expected to grow by USD 3.96 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 8.97% during the forecast period, according to Technavio Research. The market is segmented based on Product (Analgesics and NSAIDs, Corticosteriods, Viscosupplements, and Others), Type (Ankle osteoarthritis, Hip osteoarthritis, Knee osteoarthritis, and Others), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 32% to the growth of the global market during the forecast period. Osteoarthritis rises due to aging populations and risk factors like obesity, impacting millions in the US. Predicted 78 million cases by 2040 propel market growth. Regulatory approvals for expanded therapeutic applications, like ZILRETTA, aid in addressing this increasing demand. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a FREE PDF Sample Report
Company Profile:
Abbott Laboratories, Alvogen Iceland ehf, Anika Therapeutics Inc., Avanos Medical Inc., Bayer AG, Bioventus LLC, Boehringer Ingelheim International GmbH, F. Hoffmann La Roche Ltd., Ferring BV, Fidia Farmaceutici Spa, GlaxoSmithKline Plc, Hanmi Pharm Co. Ltd., Horizon Therapeutics Plc, Johnson and Johnson, Novartis AG, Pacira BioSciences Inc., Pharmed Ltd., Sanofi SA, Viatris Inc., Zimmer Biomet Holdings Inc.
Fidia Farmaceutici Spa- The company offers osteoarthritis therapeutics such as HYALGAN, HYMOVIS, HYALUBRIX, HYALOTEND, CARTIJOINT, and URBASON. The company offers hyaluronic products for tissue repair to treat general wounds, ulcers, bedsores, and topical treatment of burns and skin lesions.
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Osteoarthritis Therapeutics Market: Segmentation Analysis
The demand for analgesics and NSAIDs segment is rapidly growing due to their effectiveness in alleviating osteoarthritis-related chronic joint pain, despite side effects like gastric issues and renal problems associated with traditional NSAIDs. Advanced formulations like tanezumab by Pfizer and Eli Lilly promise a significant contribution to this segment's growth. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Osteoarthritis Therapeutics Market: Driver & Trend:
Driver
Traditional imaging techniques, particularly X-ray imaging drives market growth. Advancements in imaging techniques, from X-rays to MRI, offer direct visualization crucial for understanding osteoarthritis. Tailoring treatments using imaging biomarkers and biosignals, like NSAID responsiveness indicators, enhances patient-specific care. Such diagnostic advancements not only aid in understanding drug effectiveness but also drive growth in the osteoarthritis therapeutics market.
Identify key trends, drivers, and challenges in the market. Download a FREE sample report to gain access to this information.
The Osteoarthritis Therapeutics Market faces significant challenges in developing effective treatments. Pharmaceutical advancements in drug development, particularly in biologics and Disease Modifying Osteoarthritis Drugs (DMOADs), aim to improve pain management and joint health. However, reliance on Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), analgesics, and corticosteroids for symptomatic relief underscores the need for more effective disease-modifying agents. Hyaluronic acid injections and synovial fluid replacement therapy offer temporary solutions, while emerging therapies in regenerative medicine, such as cartilage repair and immunomodulators, show promise. The integration of biomarkers in clinical trials is crucial for personalized medicine approaches in rheumatology. Nevertheless, balancing patient care with innovative treatments like anti-cytokine therapy, prostaglandin inhibitors, opioid analgesics, and joint supplements remains a complex challenge. The pursuit of effective treatments in musculoskeletal disorders, particularly in reducing inflammation and enhancing pain relief, continues to drive research in osteoarthritis therapeutics.
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What are the key data covered in this osteoarthritis therapeutics market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the osteoarthritis therapeutics market between 2022 and 2027.
- Precise estimation of the osteoarthritis therapeutics market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the osteoarthritis therapeutics market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of osteoarthritis therapeutics market vendors.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Website: www.technavio.com
SOURCE Technavio
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