Market Overview
The global Osteoarthritis Market is anticipated to secure USD 12.45 Bn while recording a CAGR of 8.7% during the forecast period. The growth of the industry can be attributed to the increasing geriatric population. In addition, the growing government investments in cell-based research will likely propel the industry in the assessment period. Further, growing funding from private and government organizations for developing the healthcare sector and research centers is anticipated to fuel the market significantly. Besides, spurred demand for cell-based research activities will likely bolster the market. For instance, in 2018, the Journal of Stem cells International announced a new approach for treating osteoarthritis by mesenchyme stem cell therapy. In addition, rising approval for the drug is likely to expand the market size. For instance, in March 2020, the U.S. FDA accepted the regulatory submission for Tanezumab, which is used to treat patients with chronic pain caused due to moderate to severe osteoarthritis.
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Market Segmentation
The global osteoarthritis market can be segmented into Anatomy, Drug Type, Route of Administration, Purchasing Pattern, and Distribution Channel.
- Based on anatomy, the global osteoarthritis market can be segmented into hand osteoarthritis, knee osteoarthritis, hip osteoarthritis, and minor joint osteoarthritis. The knee osteoarthritis component dominated the market in 2020 and is likely to retain its position during the forecast period.
- Based on drug type, the global osteoarthritis market can be segmented into Analgesics, Nonsteroidal Anti-inflammatory Medicines, Viscosupplementation agents, and Corticosteroids. Nonsteroidal anti-inflammatory drugs (NSAIDs) can be segmented into Naproxen, Diclofenac, Aspirin, Ibuprofen, and others. Analgesics can be classified into duloxetine and acetaminophen.
- Based on the route of administration, the global osteoarthritis market can be segmented into the parenteral route and topical route, and oral route. The parenteral route is anticipated to garner a significant market share during the forecast period.
- The global osteoarthritis market can be segmented into over-the-counter drugs and prescription drugs based on purchasing patterns. Between the two segments, the over-the-counter segment is projected to lead the market during the forecast period.
- The global osteoarthritis market can be segmented into hospital pharmacies and retail and online pharmacies based on the distribution channel. The hospital pharmacies segment was the major contributor in 2020 and will likely maintain its position during the forecast period.
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Regional Analysis
North America is anticipated to lead the market during the forecast period. The market's growth can be attributed to the increasing number of obesity cases and the significant rise in obesity cases. According to United Nations World Population Ageing 2019 Report, in the United States, the number of individuals 65 years of age is predicted to reach 70.842 million by 2032. Further, increasing research and development activities in developing novel therapeutics in the North American region is projected to be another salient cause bolstering the industry in the forecast period. For instance, in March 2019, Fidia Pharma USA Inc. obtained FDA approval for TRILURON, a hyaluronic acid (H.A.) based intra-articular viscosupplement indicated for the treatment of knee pain in osteoarthritis. Owing to the aspects mentioned above, the market in North America is expected to lead the industry in the forecast period.
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List of Key Players of Covered in the Osteoarthritis Market:
- Sanofi
- Horizon Therapeutics PLC
- Johnson & Johnson
- GlaxoSmithKline PLC
- Bayer AG
- Abbott
- Pfizer
- Eli Lilly
- Anika Therapeutics, Inc.
- Novartis AG
- Ferring Pharmaceuticals
- Bioventus
- Zimmer Biomet Holdings, Inc.
- Fidia Pharmaceutica s.p.a.
- Flexion Therapeutics Inc.
- Pharmed Limited
- Virchow Biotech, among others.
Some of the recent developments are:
- In February 2020, Anika Therapeutics Inc. acquired Arthosurface, which resulted in the joint preservation and restoration of product portfolio growth.
- In December 2020, Moebius Medical received FDA clearance for its investigational new drug application to start a global multi-center Phase LLB clinical trial of MM-II. It is a novel candidate for treating pain due to knee osteoarthritis.
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Some Points from Table of Contents of The Osteoarthritis Market: -
Global Osteoarthritis Market Growth, Trend and Forecast 2021-2028
Chapter 1 Osteoarthritis Market Overview
1.1 Product Overview and Scope of Osteoarthritis
1.2 Osteoarthritis Market Segmentation by Type
1.2.1 Global Production Market Share of Osteoarthritis by Type in 2020
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
1.3 Osteoarthritis Market Segmentation by Application
1.3.1 Osteoarthritis Consumption Market Share by Application in 2020
1.3.2 Application 1
1.3.3 Application 2
1.3.4 Application 3
1.4 Osteoarthritis Market Segmentation by Regions
1.4.1 North America
1.4.2 China
1.4.3 Europe
1.4.4 Southeast Asia
1.4.5 Japan
1.4.6 India
1.5 Global Market Size (Value) of Osteoarthritis (2014-2028)
Chapter 2 Global Economic Impact on Osteoarthritis Industry
2.1 Global Macroeconomic Environment Analysis
2.1.1 Global Macroeconomic Analysis
2.1.2 Global Macroeconomic Environment Development Trend
2.2 Global Macroeconomic Environment Analysis by Regions
Chapter 3 Global Osteoarthritis Market Competition by Manufacturers
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