Osteoarthritis is described because the degenerative joint sickness brought on because of the breakdown of cartilage. It is one of the maximum not unusual place kinds of arthritis, which bring about continual ache. The carrying down of the cartilage, that is the protecting tissue gift on the ends of the bone, happens slowly and receives get worse over time. The knee, hands, and hip are suffering from osteoarthritis. The signs and symptoms of osteoarthritis are ache, stiffness, tenderness, inflammation, and lack of flexibility. This sickness is irreversible in nature, and medicine is suggested to lessen the ache and enhance the first-rate of life.
The elements that power the increase of the worldwide osteoarthritis therapeutics marketplace consist of growth in wide variety of geriatric population, improvements in R&D sports for drug development, and growth in wide variety of drug popularity of remedy of ache because of osteoarthritis. In addition, upward thrust in occurrence of osteoarthritis, which includes knee osteoarthritis and hip osteoarthritis, drastically contributes to the increase of the worldwide marketplace. According to the Journal of the Rheumatologist, in 2018, about 250 million people withinside the international have been stated to be recognized with knee osteoarthritis. According to Centers for Disease Control and Prevention (CDC), in 2020, about 32.five million people withinside the international have been stated to be recognized with osteoarthritis.
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Impact Analysis – Osteoarthritis Therapeutics Market ResearchAnalysts at Allied Market Research constantly monitor the Osteoarthritis Therapeutics industry factors with impacts of current events; with this study an update of how industry players have tackled latest scenario and what key strategies have made significant difference is showcased.
COVID-19 scenario: Surge in the number of COVID-19 patients and drop in the use of non-steroidal anti-inflammatory drugs and corticosteroids negatively affected the market.As per the World Health Organization guideline published in 2019, a systemic corticosteroid can be avoided in patients who are diagnosed with osteoarthritis along with COVID-19. This has contributed to the drop in the global osteoarthritis treatment market.
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The report segments the global osteoarthritis therapeutics market on the basis of drug type, anatomy, distribution channel, and region.
Based on the anatomy, the knee osteoarthritis segment accounted for the largest market share in 2020, contributing to more than three-fifths of the total share, and is expected to maintain the lead throughout the forecast period. The same segment is estimated to witness the fastest CAGR of 9.3% from 2021 to 2030. The report also covers other segments such as hip osteoarthritis, hand osteoarthritis, and small joint osteoarthritis.
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Based on drug type, the nonsteroidal anti-inflammatory drugs segment contributed to the highest market share in 2020, contributing to nearly three-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the visco supplementation agents segment is expected to manifest the fastest CAGR of 9.7% from 2021-2030.
Based on region, Europe followed by Asia-Pacific and North America, contributed to the highest share in 2020, holding nearly one-third of the total share, and is expected to maintain dominance throughout the forecast period. The Asia-Pacific region is expected to portray the fastest CAGR of 9.1% from 2021-2030.
Key players of the global osteoarthritis therapeutics market analysed in the research include Bayer AG, Pfizer Inc., Flexion Therapeutics, Inc., Abbott Laboratories, GlaxoSmithKline plc., Johnson & Johnson, Novartis, Horizon Therapeutics plc., Sanofi, and Zimmer Biomet Holding.
Market: By Region Outlook
North America (U.S., Canada, Mexico)Europe (UK, Germany, France, Spain, Italy, Rest of Europe)Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What are the key trends in the osteoarthritis therapeutics market report?Q2. What is the total market value of osteoarthritis therapeutics market report?
Q3. What would be forecast period in the market report?
Q4. What is the market value of osteoarthritis therapeutics market in 2021?Q5. Which is base year calculated in the osteoarthritis therapeutics market report?
Key Findings of the Study:
By anatomy, the knee osteoarthritis segment was the highest contributor to the market in 2020.
On the basis of drug type, the nonsteroidal anti-inflammatory drugs segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
As per distribution channel, the hospital pharmacies segment was the highest contributor to the osteoarthritis therapeutics market in 2020.
Region-wise, Europe garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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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.
