PUBLISHER: IMARC | PRODUCT CODE: 1467816
PUBLISHER: IMARC | PRODUCT CODE: 1467816
The global osteoarthritis therapeutics market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Osteoarthritis (OA) is a heterogeneous condition characterized by progressive degeneration of cartilage in joints of the knees, hips, hands, feet, spine, shoulders and neck. OA generally leads to stiffness, swelling, tenderness, persistent pain, loss of flexibility, grating sensation, bone spurs and sleep disturbances. It can be diagnosed using physical examination, X-ray, arthroscopy, joint fluid analysis, blood tests and magnetic resonance imaging (MRI) scan. Various medications and surgical procedures are prescribed as per the different results to alleviate the signs and symptoms of the disease. Currently, alternative medicines, physical therapies and supportive devices are available in the market to relieve pain and improve joint function.
Sedentary lifestyles, unhealthy dietary patterns and the rising prevalence of obesity and blood sugar are increasing the risk of developing OA among individuals. This, in confluence with the growing geriatric population, which is more susceptible to such ailments, represents one of the key factors impelling the osteoarthritis therapeutics market growth. Apart from this, the easy access to MRI scans is acting as another major growth-inducing factor. Additionally, the development of imaging biomarkers based on radiographic features, coupled with the introduction of analgesic drugs, is contributing to the market growth. Furthermore, rising investments in the research and development (R&D) activities to launch new diagnostics and biomarkers, along with the increasing expenditures on improving healthcare infrastructure, is also driving the market. For instance, disease-modifying drugs are under development, which focus on proinflammatory cytokines for treating cartilage breakdown.
IMARC Group provides an analysis of the key trends in each sub-segment of the global osteoarthritis therapeutics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on anatomy type, drug type, route of administration and distribution channel.
Knee
Hip
Hand
Spine
Others
Nonsteroidal Anti-Inflammatory Drugs
Analgesics
Corticosteroids
Others
Parenteral
Topical
Oral
Hospitals
Specialty Clinics
Medical Institutions
Others
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Pfizer Inc. and Sanofi S.A.
Figure 12 Global: Osteoarthritis Therapeutics (Hip) Market Forecast: Sales Value (in Million US$), 2024-2032