by Global Osteoarthritis Drugs Market- Snapshot
The global osteoarthritis drugs market is expected to reach a market value of about US$ 11,226.1 Mn by the end of 2026, expanding at a high single digit CAGR during the forecast period. Rise in R&D expenditure, increased prevalence of osteoarthritis across the globe, increased geriatric population, rise in awareness regarding degenerative bone diseases in developing countries, and rich pipeline of innovative treatment options are some factors that are expected to boost the global osteoarthritis drugs market during the forecast period. Moreover, increasing research and development activities in disease modifying drugs and surge in investment by key players in the clinical studies of advanced treatment options are expected to propel the global osteoarthritis drugs market during the forecast period. However, the high cost of advanced treatments and severe side-effects associated with certain injectable treatments are expected to hamper the osteoarthritis drugs market.
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The global osteoarthritis drugs market has been segmented based on drug class, route of administration, and distribution channel. In terms of drug class, the global market has been classified into corticosteroids, NSAIDs & others, and viscosupplementation agents. The viscosupplementation agents segment dominates the global osteoarthritis drugs market, in terms of value, owing to its high cost. This segment is also expected to expand at a significant CAGR owing to its effectiveness in the treatment of knee osteoarthritis, increasing acceptance of viscosupplementation for the treatment of chronic pain associated with osteoarthritis, and long duration of pain relief provided by the treatment. Based on route of administration, the global osteoarthritis drugs market has been divided into oral, parenteral, and topical. The parenteral segment held a major share of the market in 2017. It is expected to maintain its leading position, in terms of market share, during the forecast period.
In terms of distribution channel, the global osteoarthritis drugs market has been segregated into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held a major share of the market in 2017, followed by retail pharmacies. The hospital pharmacies segment is expected to maintain its market share during forecast period due to acceptance of advanced treatment options requiring hospitalization. The online pharmacies segment is projected to expand at a considerable CAGR during the forecast period, owing to easy availability of over-the-counter drugs at home at a discounted price.
In terms of geography, the global osteoarthritis drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global osteoarthritis drugs market owing to high acceptance of viscosupplementation agents in the U.S. and presence of major players in the region. According to the Centers for Disease Control and Prevention, one in every five adults in the U.S. has doctor-diagnosed arthritis. As the country’s population ages, it is estimated that this number would increase to at least 67% by 2030. Rising incidence of osteoarthritis leading to disability, demanding advanced therapies and disease modifying drugs, is a major factor driving the market in North America. The market in Asia Pacific is projected to expand at a significantly high CAGR during the forecast period, owing to improving health care infrastructure, rising investments in research and development in countries such as China and India, and high acceptance of viscosupplementation agents in Japan. Furthermore, Japan is the second-largest market for viscosupplementation products after the U.S., which in turn is anticipated to further boost the market in Asia Pacific in the near future.
Major players operating in the global osteoarthritis drugs market include Horizon Pharma plc., Pfizer Inc., Sanofi, Anika Therapeutics, Inc., Ferring B.V., Bioventus, Inc., Chugai Pharmaceutical Co., Limited, Alkem Laboratories, Flexion Therapeutics, Inc., and Zimmer Biomet Holdings, Inc. Key players are expanding their product portfolios through mergers & acquisitions and partnerships & collaborations with leading pharmaceutical and biotechnology companies and by offering technologically advanced products.
Osteoarthritis Drugs Market to Rise Remarkably Owing to Increasing Adoption of 3D Printing Technique
Ascend in R&D consumption, expanded commonness of osteoarthritis across the globe, expanded geriatric populace, ascend in mindfulness in regards to degenerative bone illnesses in agricultural nations, and rich pipeline of creative treatment alternatives are a few factors that are relied upon to help the worldwide osteoarthritis drugs market during the conjecture time frame. Additionally, expanding innovative work exercises in sickness changing medications and flood in venture by central participants in the clinical investigations of cutting edge therapy choices are relied upon to impel the worldwide osteoarthritis drugs market during the conjecture time frame. Be that as it may, the significant expense of cutting edge medicines and serious results related with certain injectable medicines are required to hamper the osteoarthritis drugs market.
The developing attention to sicknesses like degenerative bone illness, expanding R&D, and developing geriatric populace are the excellent elements enlarging development of the market. The drug business is developing through an intense stage as a few key licenses have terminated. Then again, the business is additionally confronted with freedoms to decrease fabricating costs impressively, because of headways like 3D printing, a few rewarding reevaluating openings, and possibilities like Nano innovation. This is required to go about as an impetus for advancement in the business with a few firms previously increasing current standards with new medication improvements and crucial adjustments in measures.
Osteoarthritis (OA) is a pervasive sickness all around the world and it influences the older populace harshly. The condition is likewise perilous to numerous as it prompts disabled versatility prompting more possible mishaps and monetary limitations. Be that as it may, the current yield of osteoarthritis drugs just offers torment alleviation and help, yet not a lasting arrangement. Moreover, osteoarthritis drugs likewise neglect to stop infection movement. Henceforth, notwithstanding their absence of adequacy and outrageous significant expenses of viscosupplementation, the worldwide osteoarthritis drugs market keeps on developing. Also, the rising older populace all throughout the planet, and expanding reach of projects like Medicare in the US and privatized medical care bill as of late presented in Australia, the osteoarthritis drugs market will bring about a few new chances for development.
The global osteoarthritis drugs market has been segmented as below:
by Drug Class
- Corticosteroids
- NSAIDs & Others
- Viscosupplementation Agents
by Route Of Administration
- Oral
- Parenteral
- Topical
by Distribution Channe
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
by Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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