What is Osteoarthritis?
Osteoarthritis is the most common form of arthritis and generally affects the bones that bear the body’s weight. While this medical condition cannot be reversed, medications and injections have been found to be effective in the reducing the pain caused due to osteoarthritis. Drugs such as NSAIDs, analgesics, corticosteroids, and viscosupplement agents are being used widely to manage osteoarthritis.
Global Leaders:
The osteoarthritis therapeutics market is a highly fragmented market and has presence of various players. The major players operating in this market are Sanofi (France), Horizon Therapeutics PLC (Ireland), Johnson & Johnson (US), GlaxoSmithKline PLC (UK), Bayer AG (Germany), Abbott (US), Pfizer, Inc. (US), Eli Lilly (US), Anika Therapeutics, Inc. (US), Novartis AG (Switzerland), Ferring Pharmaceuticals (Switzerland), Bioventus (US), Zimmer Biomet Holdings, Inc. (US), Fidia Farmaceutici s.p.a. (Italy), Flexion Therapeutics, Inc. (US), Pharmed Limited (India), Virchow Biotech (India), Kitov Pharmaceuticals Ltd. (Israel), Assertio Therapeutics, Inc. (US), Atnahs (UK), Almatica Pharma LLC (US), OrthogenRx (US), LABRHA (France), Hanmi Pharm. Co., Ltd. (Korea), and Laboratorio Reig Jofre (Spain).
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209565994
Expected Revenue Growth:
The osteoarthritis therapeutics market is projected to reach USD 11.0 billion by 2025 from USD 7.3 billion in 2020, at a CAGR of 8.7% from 2020 to 2025.
Major Growth Boosters
The growth of this market is driven by significant adoption of pain medications, increasing prevalence of osteoarthritis, growing population susceptible to osteoarthritis, and rising number of sports injuries.
Sanofi (France)
Sanofi held the leading position in the global viscosupplementation agents market in 2019. The company offers Synvisc and Synvisc One for the treatment of pain associated with osteoarthritis. These drugs are marketed in more than 60 countries. The company invests significantly in R&D activities. In 2019, it invested USD 6.74 billion in R&D, which consisted of 16.7% of the company revenue. Sanofi showcases its products and participates in global events to increase its market visibility. The company has established a significant footprint in North America, Europe, Africa, and the Middle East. Its global footprint helps it in generating revenue from different regions.
Zimmer Biomet Holdings, Inc. (US)
Zimmer Biomet held second place in the global viscosupplementation agents market in 2019. The company offers viscosupplement-based injections for the treatment of osteoarthritis. Zimmer Biomet Holdings operates in more than 25 countries and markets its products in more than 100 countries across the Americas, Europe, and the Asia Pacific. Some of its key subsidiaries include Zimmer Spine, Inc. (US), Biomet, Inc. (US), Zimmer GmbH (Switzerland), and Zimmer Germany GmbH.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=209565994
Geographical Growth Scenario:
“Europe commanded the largest share of the osteoarthritis therapeutics market in 2020.”
On the basis of region, the osteoarthritis therapeutics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, Europe commanded the largest share of the osteoarthritis therapeutics market. The large share of this market segment can be attributed to the rising incidence of osteoarthritis, rising geriatric population, and increasing obesity rates in several European countries, coupled with the rising number of injuries due to sports and road accidents.
Key developments in the Industry:
# In 2020, GlaxoSmithKline Plc (UK) launched Voltaren in the US.
# In 2020, Horizon Therapeutics Plc (Ireland) expanded its presence in the US.
# In 2019, Kitov Pharma Ltd. (Israel) entered into an agreement with Coeptis Pharmaceuticals which has helped in the efficient distribution and commercialization of Consensi.
# In 2018, Atnahs established a sales office in Dubai, UAE.
# In 2017, Flexion Therapeutics, Inc. (US) received FDA Approval for ZILRETTA
Osteoarthritis Therapeutics Market - Collaborations for Product Development Was one of the Growth Strategies Adopted by Key Players
Osteoarthritis Market Analysis, By Type (Hip Osteoarthritis, Spinal Osteoarthritis) By Diagnosis (Imaging, Joint Fluid Analysis) By Treatment (Medication, Surgery, Therapy) By End Users (Hospitals, Medical Institutes) - Global Forecast till 2023The Global Osteoarthritis Market Analysis shows market is touted to register a CAGR of 6.8% during the forecast period (2017-2023).The surge in the global osteoarthritis market is mainly due to the growing geriatric population, surging demand for minimally invasive surgical procedures, and high prevalence of osteoarthritis across the globe.
It is considered one of the most common joint disease, generally found in people of more than 65 years.
According to the WHO, osteoarthritis is considered one of the ten most disabling diseases, especially in the developed economies.Increased demand for minimally invasive surgical procedures in order to treat osteoarthritis is the primary factor triggering the demand from the osteoarthritis market.
For instance, MAKOplasty is a minimally invasive knee surgery, which helps to relieve pain caused by osteoarthritis.
Government support for funding and ongoing research and development are further creating new growth opportunities for the market.On the contrary, low per capita income, especially in the developing economies, coupled with the side effects associated with the treatment procedures are likely to restrict the market growth in the coming years.Osteoarthritis Market Competitive DashboardThe top players operating in the osteoarthritis market include Novartis AG (Europe), Abbott.
(U.S.), Eli Lilly and Company.
The new market study by Precise Market Intelligence (PMI) provides in-depth analysis and projects the trajectory of the global Osteoarthritis Therapeutics market between 2020 and 2027.
The research report postulates several macro-economic factors ranging from government decisions, changing consumer preferences, etc.
to significant trends that are likely to influence the growth of the global Osteoarthritis Therapeutics market in the forthcoming years.
This report maps the impact of each market dynamic, such as drivers, trends, and restraints, on every segment and the involved stakeholders of the Osteoarthritis Therapeutics market.
The understanding of the impact on each segment bolsters stakeholders – including manufacturers, suppliers, and retailers – to develop strategies to leverage the forthcoming changes in the Osteoarthritis Therapeutics landscape.PMI’s analysts have compiled a comprehensive report using modern-day research methods that paints a transparent picture of the direction the market is headed in and will aid players in making the right decisions.For More Insights Into The Market, Request a Sample of This Report@ https://www.precisemarketintelligence.com/sample/12 Impact of COVID-19 on Osteoarthritis Therapeutics MarketThe unforeseen outbreak of COVID-19 has brought the global Healthcare sector to a screeching halt, and the Osteoarthritis Therapeutics market is no exception.
Perils of the pandemic such as halted productions disrupted supply chains, and depreciation in demand for Healthcare have led to a downtrend in the growth trajectory of the Osteoarthritis Therapeutics market.
According to the new market research report by MarketsandMarkets, the osteoarthritis therapeutics market is estimated at $6.8 billion in 2019 and projected to reach $10.1 billion by 2024 at a CAGR of 8.1 percent from 2019 to 2024.
This growth, the report says, is in part due to the rapid increase in the geriatric and obese population and the associated increase in the prevalence of osteoarthritis disease.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.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209565994Knee segment to witness the highest growth during the forecast periodBased on anatomy, the market is segmented into knee, hip, hand, and small-joint.
The knee osteoarthritis segment accounted for the largest market share in 2018 and is expected to register the highest CAGR during the forecast period.
This is attributed to a large number of patients suffering from knee osteoarthritis.Viscosupplementation agents segment to dominate the osteoarthritis therapeutics market in 2018Based on drug type, the market is segmented into viscosupplementation agents, nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, and corticosteroids.
The viscosupplementation agents segment accounted for the largest market share in 2018.
The new market study by Precise Market Intelligence (PMI) provides in-depth analysis and projects the trajectory of the global Osteoarthritis Therapeutics market between 2020 and 2027.
The research report postulates several macro-economic factors ranging from government decisions, changing consumer preferences, etc.
to significant trends that are likely to influence the growth of the global Osteoarthritis Therapeutics market in the forthcoming years.
This report maps the impact of each market dynamic, such as drivers, trends, and restraints, on every segment and the involved stakeholders of the Osteoarthritis Therapeutics market.
The understanding of the impact on each segment bolsters stakeholders – including manufacturers, suppliers, and retailers – to develop strategies to leverage the forthcoming changes in the Osteoarthritis Therapeutics landscape.PMI’s analysts have compiled a comprehensive report using modern-day research methods that paints a transparent picture of the direction the market is headed in and will aid players in making the right decisions.For More Insights Into The Market, Request a Sample of This Report@ https://www.precisemarketintelligence.com/sample/12 Impact of COVID-19 on Osteoarthritis Therapeutics MarketThe unforeseen outbreak of COVID-19 has brought the global Healthcare sector to a screeching halt, and the Osteoarthritis Therapeutics market is no exception.
Perils of the pandemic such as halted productions disrupted supply chains, and depreciation in demand for Healthcare have led to a downtrend in the growth trajectory of the Osteoarthritis Therapeutics market.
According to the new market research report by MarketsandMarkets, the osteoarthritis therapeutics market is estimated at $6.8 billion in 2019 and projected to reach $10.1 billion by 2024 at a CAGR of 8.1 percent from 2019 to 2024.
This growth, the report says, is in part due to the rapid increase in the geriatric and obese population and the associated increase in the prevalence of osteoarthritis disease.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.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209565994Knee segment to witness the highest growth during the forecast periodBased on anatomy, the market is segmented into knee, hip, hand, and small-joint.
The knee osteoarthritis segment accounted for the largest market share in 2018 and is expected to register the highest CAGR during the forecast period.
This is attributed to a large number of patients suffering from knee osteoarthritis.Viscosupplementation agents segment to dominate the osteoarthritis therapeutics market in 2018Based on drug type, the market is segmented into viscosupplementation agents, nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, and corticosteroids.
The viscosupplementation agents segment accounted for the largest market share in 2018.
Osteoarthritis Market Analysis, By Type (Hip Osteoarthritis, Spinal Osteoarthritis) By Diagnosis (Imaging, Joint Fluid Analysis) By Treatment (Medication, Surgery, Therapy) By End Users (Hospitals, Medical Institutes) - Global Forecast till 2023The Global Osteoarthritis Market Analysis shows market is touted to register a CAGR of 6.8% during the forecast period (2017-2023).The surge in the global osteoarthritis market is mainly due to the growing geriatric population, surging demand for minimally invasive surgical procedures, and high prevalence of osteoarthritis across the globe.
It is considered one of the most common joint disease, generally found in people of more than 65 years.
According to the WHO, osteoarthritis is considered one of the ten most disabling diseases, especially in the developed economies.Increased demand for minimally invasive surgical procedures in order to treat osteoarthritis is the primary factor triggering the demand from the osteoarthritis market.
For instance, MAKOplasty is a minimally invasive knee surgery, which helps to relieve pain caused by osteoarthritis.
Government support for funding and ongoing research and development are further creating new growth opportunities for the market.On the contrary, low per capita income, especially in the developing economies, coupled with the side effects associated with the treatment procedures are likely to restrict the market growth in the coming years.Osteoarthritis Market Competitive DashboardThe top players operating in the osteoarthritis market include Novartis AG (Europe), Abbott.
(U.S.), Eli Lilly and Company.