PUBLISHER: The Business Research Company | PRODUCT CODE: 1619802
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619802
Osteoarthritis therapeutics encompass a range of medical treatments and interventions aimed at managing and alleviating the symptoms of osteoarthritis, a degenerative joint disease marked by the deterioration of cartilage and underlying bone. These treatments include medications, physical therapies, lifestyle changes, and, in some cases, surgical procedures. The main objectives of osteoarthritis therapeutics are to reduce pain, enhance joint function, and improve the quality of life for those affected by the condition.
Key drug types for osteoarthritis management include viscosupplementation agents, nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, corticosteroids, and others. Viscosupplementation agents are injected directly into the joint to provide lubrication and cushioning, which helps relieve pain and improve mobility. The condition can affect various joints, such as the knee, hip, and hand, and treatments can be administered through different routes, including parenteral, topical, and oral. Sales channels for these therapeutics include prescription and over-the-counter drugs, with end-users ranging from hospital pharmacies to retail pharmacies and other outlets.
The osteoarthritis therapeutics market research report is one of a series of new reports from The Business Research Company that provides osteoarthritis therapeutics market statistics, including osteoarthritis therapeutics industry global market size, regional shares, competitors with a osteoarthritis therapeutics market share, detailed osteoarthritis therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the osteoarthritis therapeutics industry. This osteoarthritis therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The osteoarthritis therapeutics market size has grown strongly in recent years. It will grow from $7.55 billion in 2023 to $8.17 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed during the historic period can be linked to factors such as an aging population, improvements in drug delivery systems, greater awareness and diagnosis of conditions, the development of new therapies, and increasing obesity rates.
The osteoarthritis therapeutics market size is expected to see strong growth in the next few years. It will grow to $11.29 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The projected growth in the forecast period can be attributed to factors such as escalating obesity rates, advancements in treatment modalities, growing awareness and diagnosis, the development of disease-modifying osteoarthritis drugs (DMOADs), and increased funding from both government and private sources for research. Key trends expected during this period include a greater emphasis on personalized medicine, the rise of regenerative therapies, an expanded range of pain management options, supportive government and regulatory frameworks, and growing demand in emerging markets.
The increase in sports injuries is expected to drive the growth of the osteoarthritis therapeutics market in the future. A sports injury refers to any damage or harm sustained during athletic activities, ranging from mild to severe, and affecting various parts of the body. The rise in sports injuries is primarily due to growing participation in sports and the increasing intensity and competitiveness of these activities. Osteoarthritis therapeutics are used to manage pain, reduce inflammation, and improve joint function in athletes experiencing joint degeneration from such injuries. For example, in 2022, the National Safety Council, a US-based nonprofit organization focused on health and safety, reported a 12% increase in sports and recreational injuries. As a result, the rising number of sports injuries is fueling the growth of the osteoarthritis therapeutics market.
Leading companies in the osteoarthritis therapeutics market are concentrating on developing innovative solutions, such as advancements in tissue regeneration for osteoarthritis. Tissue regeneration in osteoarthritis involves repairing or replacing damaged cartilage and joint tissues to restore function and alleviate pain. For instance, in May 2023, the Advanced Research Projects Agency for Health (ARPA-H), a US-based government agency, launched the Novel Innovations for Tissue Regeneration in Osteoarthritis (NITRO) program. This program aims to create cutting-edge injectable therapies that stimulate cartilage repair by utilizing biological pathways similar to those active during embryonic development. A key aspect of NITRO is its collaborative, multimodal approach among research teams and the use of advanced testing techniques, such as "joint-on-a-chip" platforms that replicate joint environments. This initiative seeks to develop regenerative solutions that address the underlying causes of osteoarthritis, offering more effective long-term treatments.
In April 2022, Juniper Biologics Pte Ltd, a pharmaceutical company based in Singapore, acquired the licensing rights for TG-C LD (TissueGene-C low dose) from Kolon Life Science for $600 million. This acquisition positions Juniper Biologics as a leader in cell-mediated gene therapies for knee osteoarthritis, addressing a significant unmet medical need affecting around 300 million patients in the Asia Pacific, Middle East, and Africa regions. Kolon Life Science Inc., based in South Korea, specializes in osteoarthritis therapeutics.
Major companies operating in the osteoarthritis therapeutics market are Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., AbbVie Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, Novartis AG, GlaxoSmithKline plc, Medtronic plc, Eli Lilly and Company, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Daiichi Sankyo Company Limited, Zimmer Biomet Holdings Inc., Horizon Therapeutics plc, Taisho Pharmaceutical Co. Ltd., Ferring Pharmaceuticals, Galapagos NV, Bioventus LLC, Flexion Therapeutics Inc., Anika Therapeutics Inc., Seikagaku Corporation, Samumed LLC, Orthogen AG, Kolon Life Science Inc.
North America was the largest region in the osteoarthritis therapeutics market in 2023. The regions covered in the osteoarthritis therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the osteoarthritis therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The osteoarthritis therapeutics market consists of revenues earned by entities by providing services such as exercises and therapies, diagnostic services, and pain management services. The market value includes the value of related goods sold by the service provider or included within the service offering. The osteoarthritis therapeutics market also includes sales of pain relievers, corticosteroids, hyaluronic acid injections, and assistive devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Osteoarthritis Therapeutics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on osteoarthritis therapeutics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for osteoarthritis therapeutics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The osteoarthritis therapeutics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.