Osteoarthritis Therapeutics Market is Estimated To Reach USD 15,693.8 Million By 2030, Growing At A Cagr of 8.8% - Valuates Reports

BANGALORE, India, May 19, 2022 /PRNewswire/ -- Osteoarthritis Therapeutics Market is segmented by Anatomy (Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, and Small Joint Osteoarthritis), Drug Type (Viscosupplementation Agents, Nonsteroidal Anti-Inflammatory Drugs, Analgesics, and Corticosteroids), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021 - 2030.  It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.

The global osteoarthritis therapeutics market size was valued at USD 6,754.1 million in 2020, and is estimated to reach USD 15,693.8 million by 2030, growing at a CAGR of 8.8% from 2021 to 2030.

Major factors driving the growth of the Osteoarthritis Therapeutics market are

The increased geriatric population and increased number of drug approvals for the treatment of pain caused by osteoarthritis are two factors driving the global osteoarthritis therapeutics market.

Furthermore, the rising prevalence of osteoarthritis, such as knee and hip osteoarthritis, contributes significantly to the osteoarthritis therapeutics market growth.

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TRENDS INFLUENCING THE GROWTH OF OSTEOARTHRITIS THERAPEUTICS MARKET

An increase in the geriatric population is expected to drive the growth of the Osteoarthritis Therapeutics market. Osteoarthritis is the most common type of arthritis in older people, and it is also one of the leading causes of physical disability. Both men and women are affected by the disease. The hands, lower back, neck, and weight-bearing joints such as knees, hips, and feet are the most common sites of osteoarthritis. Only the joints are affected by osteoarthritis, not the internal organs. Osteoarthritis is more likely to develop as you get older. Excess weight, improper joint alignment, and putting too much stress on a previously injured joint can all contribute to the development of osteoarthritis.

The rising prevalence of osteoarthritis, such as knee and hip osteoarthritis, is expected to boost the market for osteoarthritis therapeutics. The breakdown of joint tissues from mechanical loading and inflammation is thought to be the proximate cause of knee Osteoarthritis, but the deeper underlying causes of the disease's high prevalence are unknown and poorly tested, hampering efforts to prevent and treat it. However, two recent public health trends are widely assumed to be the most important. First, because the prevalence of knee OA rises with age, and second, because of a high BMI (BMI). Hip osteoarthritis causes stiffness and pain. It can make simple tasks difficult, such as bending over to tie a shoe, rising from a chair, or going for a short walk.

The rise in demand for cell-based research for Osteoarthritis is expected to further fuel the Osteoarthritis Therapeutics market. The development of stem cell-based OA therapies is at a crossroads. The extensive literature on stem cell isolation, chondrogenic differentiation, and scaffold design has enabled researchers and clinicians to consider the possibility of using stem cells to modify OA progression and tissue engineering to resurface an entire osteoarthritic joint surface, preventing or delaying the need for total joint replacement.

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OSTEOARTHRITIS THERAPEUTICS MARKET SHARE ANALYSIS

Based on anatomy, In 2020, the Knee Osteoarthritis segment held a commanding lead, which it would maintain throughout the forecast period.

The nonsteroidal anti-inflammatory drugs (NSAIDs) segment dominated the market in 2020, and this trend is expected to continue during the forecast period.

The hospital pharmacies segment contributed the most to the osteoarthritis therapeutics market in 2020, according to the distribution channel.

Due to an increase in the prevalence of knee osteoarthritis, an increase in the number of approvals for osteoarthritis, the presence of key players, the availability of advanced research activities for drug development, and an increase in the number of clinical studies to evaluate drug safety and efficacy in the region, Europe dominated the osteoarthritis therapeutics market in 2020 and is expected to continue to do so during the forecast period.

However, due to an increase in the prevalence of osteoarthritis, the rise in the female population, growth in health care expenditures, and a lack of physical activities, Asia-Pacific is expected to have the highest CAGR of 9.1% from 2021 to 2030.

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Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

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Key players

• Abbott Laboratories
• Bayer AG
• Flexion Therapeutics, Inc.
• GlaxoSmithKline plc.
• Horizon Therapeutics plc.
• Johnson & Johnson
• Novartis
• Pfizer Inc.
• Sanofi
• Zimmer Biomet Holding

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-  Osteoarthritis Drugs market size is estimated to be worth USD 5893.9 million in 2022 and is forecast to be a readjusted size of USD 7675.4 million by 2028 with a CAGR of 4.5% during the review period.

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