Global Osteoarthritis Therapeutics Market Overview:
Osteoarthritis is a primary cause of pain & disability among adults with a current frequency of ~15% and a predicted prevalence of ~35% by 2030. It can affect any joint, but mostly the knees, hips, lower back and neck and small joints of fingers. It is a chronic (long-term) disease for which there is no cure. As per an estimation, over 30 million adults in the United States have osteoarthritis. Moreover, one in four adults will develop symptoms of hip osteoarthritis by age 85 and one in 12 people aged over 60 have hand osteoarthritis. The use of prescription and over-the-counter medications to reduce pain and decrease inflammation has increased rapidly since last few years. In addition, the government support for research & development for osteoarthritis treatment will create growth opportunities for the global osteoarthritis treatment market. Some of the players profiled in the study are Sanofi (France), Horizon Therapeutics PLC (Ireland), Johnson & Johnson (United States), GlaxoSmithKline PLC (United Kingdom), Bayer AG (Germany), Abbott (United States), Pfizer, Inc. (United States), Eli Lilly (United States), Anika Therapeutics, Inc. (United States) and Novartis AG (Switzerland). According to Market Analyst at AMA, the Global Osteoarthritis Therapeutics market may see a growth rate of 9.05%
On the basis of geography, the market of Osteoarthritis Therapeutics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2020. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Drug Type, the sub-segment i.e. Prescription Drugs will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Route of Administration, the sub-segment i.e. Parenteral Route will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Hospital Pharmacies will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Anatomy, the sub-segment i.e. Knee Osteoarthritis will boost the Osteoarthritis Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Growing Occurrence Of Orthopedic Disorders
- Adoption Of Pain Killer Medications To Avoid Surgical Procedures
- Rising Number Of Sports Injuries
- Personalized Medicines For Osteoarthritis
- High Cost Associated With Drugs
- Growing Population Susceptible To Osteoarthritis
- Collaborations For Product Development
- Adoption Of Non-Drug Pain Management Therapies
Key Market Developments:
In February 2020, FDA approves GlaxoSmithKline’s product named Voltaren Arthritis Pain for over-the-counter use in the United States. This product was developed to provide temporary relief of arthritis pain in the hand, wrist, elbow, foot, knee in adults (18 years and older).ankle or
The market is fragmented by numerous key players who have the bargaining power high in the global osteoarthritis therapeutics market as the market is dominated by several key players. The intensity of rivalry appears to be high in this market as competitors are numerous and the drugs are undifferentiated.
New Entrants/Investors, Analysts and Strategic Business Planners, Osteoarthritis Therapeutics Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations
Major Objectives Focused through this Study
To define, describe, and forecast the Global Osteoarthritis Therapeutics market on the basis of product  , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Osteoarthritis Therapeutics market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Osteoarthritis Therapeutics industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Ferring Pharmaceuticals (Switzerland), Bioventus (United States), Zimmer Biomet Holdings, Inc. (United States), Fidia Farmaceutici s.p.a. (Italy), Pharmed Limited (India), Hanmi Pharm. Co., Ltd. (Korea) and Laboratorio Reig Jofre (Spain).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Osteoarthritis Therapeutics market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.