PUBLISHER: The Insight Partners | PRODUCT CODE: 1562205
PUBLISHER: The Insight Partners | PRODUCT CODE: 1562205
The Europe osteoarthritis therapy market was valued at US$ 4,971.51 million in 2022 and is expected to reach US$ 8,743.93 million by 2030; it is estimated to register a CAGR of 7.3% from 2022 to 2030 .
Availability of Regenerative Medicine Drives Europe Osteoarthritis Therapy Market
Regenerative medicine is a new and potentially transformative alternative to traditional therapy options to treat OA. Regenerative medicine utilizes biomedical engineering, biomaterials, and cell therapies that target the body's immune system to treat OA. Also, clinical researchers have developed methods to fix the articular cartilage of patients using patients' (autologous) cells. Further, regenerative therapy options use "Matrix-Induced Autologous Chondrocyte Implantation (MACI)." MACI can repair small areas of cartilage, ultimately preventing or postponing OA. Also, several manufacturers are developing products focused on regenerative therapy. Rising inclination toward non-surgical approaches such as PRP therapy, stem cell therapy, hyaluronic acid injections, and prolotherapy would propel the adoption of regenerative medicine. Patients suffering from OA can be treated using non-pharmacological therapies. Regenerative therapy options can improve joint functions by ultimately reducing pain and enhancing the overall quality of life for individuals suffering from OA. Therefore, increasing adoption of regenerative medicine is expected to open new business opportunities in the osteoarthritis therapy market during the forecast period.
Europe Osteoarthritis Therapy Market Overview
Europe osteoarthritis therapy market is segmented as Germany, the UK, France, Italy, Spain, and the Rest of Europe. Fast product approvals in the region for osteoarthritis treatment drugs and advanced healthcare infrastructure are the most influential factors responsible for market growth. According to the Journal of Health Monitoring report, osteoarthritis is the most common joint disease in Germany. Joint pain and loss of function are likely to result in loss of quality of life as osteoarthritis is caused in the upper extremities (fingers, hands, and shoulders). Therefore, with the aging of Germany's population, osteoarthritis prevalence will continue to rise, resulting in a high burden on the healthcare system. According to the World Health Organization (WHO) report published in 2020, osteoarthritis deaths in Germany account for 0.05% of total deaths. Further, new product launches enhance the market growth. For instance, in May 2023, Grunenthal announced receiving approval for investigational non-opioid medicine "Resiniferatoxin (RTX)," currently undergoing Clinical Phase 3 development standing as a breakthrough therapy by the US Food and Drug Administration (USFDA) to treat knee OA. Resiniferatoxin can become a meaningful non-opioid treatment option, providing long-lasting pain relief and functional improvement of the affected joint.
Europe Osteoarthritis Therapy Market Revenue and Forecast to 2030 (US$ Million)
Europe Osteoarthritis Therapy Market Segmentation
The Europe osteoarthritis therapy market is categorized into therapy type, disease indications, end user, and country.
Based on therapy type, the Europe osteoarthritis therapy market is segmented into transcutaneous electrical nerve stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma (PRP) therapy & stromal vascular fraction, prolotherapy, and others. The physical therapy segment held the largest market share in 2022.
In terms of disease indications, the Europe osteoarthritis therapy market is segmented into knee osteoarthritis, spine osteoarthritis, foot and ankle osteoarthritis, shoulder osteoarthritis, hand osteoarthritis, and others. The knee osteoarthritis segment held the largest share of Europe osteoarthritis therapy market in 2022.
Based on end users, the Europe osteoarthritis therapy market is categorized into hospitals and clinics, specialty clinics, ambulatory surgical center, homecare, and others. The homecare segment held the largest share of Europe osteoarthritis therapy market in 2022.
By country, the Europe osteoarthritis therapy market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe osteoarthritis therapy market share in 2022.
Zimmer Biomet Holdings Inc, DePuy Synthes Inc, Bioventus Inc, Omron Healthcare Inc, Exactech Inc, and Medi GmbH & Co KG are some of the leading companies operating in the Europe osteoarthritis therapy market.