Global Osteoarthritis Therapeutics Market, By Therapeutics Area (Anatomy Type (Knee, Hip, Hand, Spine, Others), DrugType (Nonsteroidal AntiInflammatory Drug, Analgesics, Corticosteroids , Others)), By Route of Administrations (Parenteral, Topical, Oral), By End User (Hospitals , Specialty Clinics, Medical Institutions, Others) and opportunities and forecast 2023-2030
Osteoarthritis Therapeutics Market Overview
Sedentary lifestyles, unhealthy dietary patterns, and therefore the rising prevalence of obesity and blood glucose are increasing the danger of developing OA among individuals. This, in confluence with the growing geriatric population, which is more vulnerable to such ailments, represents one among the key factors impelling the osteoarthritis therapeutics market growth.
Aside from this, the straightforward access to MRI scans is acting as another major growth-inducing factor. Additionally, the event of imaging biomarkers supported radiographic features, including the introduction of analgesic drugs, is contributing to the market growth. Furthermore, rising investments within the research and development (R&D) activities to launch new diagnostics and biomarkers, alongside the increasing expenditures on improving healthcare infrastructure, also are driving the market. As an example, disease-modifying drugs are under development, which focuses on proinflammatory cytokines for treating cartilage breakdown.
Risk of adverse cardiovascular events related to the utilization of NSAIDs in osteoarthritis treatment
OTC and prescription NSAIDs are widely wont to relieve pain in osteoarthritis patients.OTC and prescription NSAIDs are widely wont to relieve pain in osteoarthritis patients. Covid-19 Impact on Osteoarthritis Therapeutics Market:
In addition, the current Global Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Global Market. The recently published report demonstrates the elevation within the demand for the healthcare sector. The healthcare manufacturers have experienced future also as short term effect which incorporates supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption might be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and makers to the limit. In addition to the present, panic conditions have already spurred the demand for several healthcare products and services which are discussed intimately during this report. Moreover, the impact of this pandemic on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report. Osteoarthritis Therapeutics Market Segment Overview
By Therapeutics Area, Nonsteroidal Anti –Inflammatory drugs segment holds the major market share in estimated time period. Related to incidence of Knee osteoarthritis is the major factor driving the growth of this segment.
By Route of Administration, This can be attributed to the wide adoption of the parenteral route for administering osteoarthritis therapeutics, because of the convenience of administration and therefore the better pharmacokinetics and pharmacodynamics leading to better patient compliance.
By End-users, the Specialty Clinics accounted for the most important share of this market in 2020. Rising number of patients for osteoarthritis that impact to hospital segment thus increasing growth of speciality hospital towards patients care and proper treatment.
Market Analysis, Insights and Forecast – By Therapeutics Area
- Anatomy Type:
- Drug Type:
- Nonsteroidal Anti-Inflammatory Drugs
Market Analysis, Insights and Forecast – By Route of Administrations
Market Analysis, Insights and Forecast – By End User
· Specialty Clinics
· Medical Institutions
· OthersOsteoarthritis Therapeutics Market Regional Overview
Region-wise, in terms of regions, Europe commanded the biggest share of the osteoarthritis therapeutics market. the big share of this market segment are often attributed to the rising incidence of osteoarthritis, rising geriatric population, and increasing obesity rates in several European countries, including the rising number of injuries because of sports and road accidents.
Osteoarthritis Therapeutics Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA) Osteoarthritis Therapeutics Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Osteoarthritis Therapeutics are highlighted below.
· In 2020,GlaxoSmithKline announced that the U.S. Food and Drug Administration (FDA) has approved Voltaren Arthritis Pain (diclofenac sodium topical gel, 1% (NSAID)- arthritis pain reliever) as an over-the-counter (OTC) product for the temporary relief of arthritis pain within the hand, wrist, elbow, foot, ankle or knee in adults (18 years and older). With the FDA’s approval, Voltaren Arthritis Pain becomes the primary and only prescription strength, nonsteroidal anti-inflammatory drug (NSAID) topical gel for arthritis pain available OTC within the us . Osteoarthritis Therapeutics Market, Key Players
· Horizon Therapeutics PLC
· Johnson & Johnson
· GlaxoSmithKline PLC
· Bayer AG
· Pfizer, Inc.
· Eli Lilly
· Anika Therapeutics, Inc.
· Novartis AG
· Ferring Pharmaceuticals
· Zimmer Biomet Holdings, Inc.
· Fidia Farmaceutici s.p.a.
· Flexion Therapeutics, Inc.
· Pharmed Limited
· Virchow Biotech
· Kitov Pharmaceuticals Ltd.
· Assertio Therapeutics, Inc.
· Almatica Pharma LLC
· Hanmi Pharm. Co., Ltd.
· Laboratorio Reig Jofre