Global Osteoarthritis Drug Market Overview:
“The global Osteoarthritis Drug Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Osteoarthritis (OA) is most common chronic (long-lasting) joint condition. A joint is where two bones come together. The end of these bones are covered with protective tissue called cartilage. With OA, this cartilage breaks down, causing the bones within the joint to rub together. This can cause pain, stiffness, and other symptoms.
People with severe OA have extensive or complete loss of cartilage in one or more joints. The bone-on-bone friction associated with this can cause severe symptoms. OA occurs most often in older people, although it can occur in adults of any age. OA is also called degenerative joint disease, degenerative arthritis, and wear-and-tear arthritis.
Global Osteoarthritis Drug Market Dynamics:
Increasing prevalence of osteoarthritis across the globe and being major cause of disability, especially among the ageing population are major factors expected to drive growth of the global osteoarthritis drug market.
In addition, increasing awareness regarding risk associated with osteoarthritis among the general population and increasing government initiatives to control the disease are some other factors expected to support growth of the global osteoarthritis drugs market.
Moreover, increasing government expenditure on healthcare sector in order to provide enhanced affordability for various diagnostic and treatment services, which in turn is expected to support growth of the global market to certain extent.
However, availability of alternative medicines is a major factor expected to hamper growth of global osteoarthritis drugs market to certain extent.
Increasing investment by major players for technological advancements and R&D activities is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, growing public and private partnership in developing countries is expected to further support growth of the global market.
Among drug class, the corticosteroids segment is expected to hold major share in terms of revenue over the forecast period.
Among distribution channel, the hospital pharmacies segment is expected to account for highest growth rate over the forecast period.
North America is expected to dominate in the global osteoarthritis drugs market in terms of revenue and is expected to continue its dominance over the forecast period. The dominance can be attributed well-developed healthcare infrastructure, favorable reimbursement policies, and presence of major players operating in the countries in this region. In addition, increasing merger & acquisition activities among regional and international players is expected to further support growth of the market in this region.
The market in Asia Pacific is expected to witness faster growth, owing to increasing government expenditure on pharmaceutical sector and presence of prominent player operating in emerging economies such as India and China in this region.
The market in Latin America is expected to witness moderate growth, owing to increasing presence of major manufacturers in developing countries such as Brazil and Argentina in this region. The market in Europe is expected to contribute significant revenue in the global market.
Global Osteoarthritis Drug Market Segmentation:
By Drug Class:
- Visco-supplementation Agents
By Route of Administration:
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Pfizer Inc.
- Horizon Pharma plc
- Ferring B.V.
- Bioventus, Inc.
- Sanofi SA
- Flexion Therapeutics, Inc.
- Alkem Laboratories Limited
- Anika Therapeutics, Inc.
- Chugai Pharmaceutical Co., Limited
- Zimmer Biomet Holdings, Inc.
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