Worldwide Osteoarthritis Treatment Industry to 2029 - by Class of Drug, Anatomy, Route of Administration, Distribution Channel, Purchase Mode and Region - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Osteoarthritis Treatment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global osteoarthritis treatment market is projected to grow at a CAGR of 9.0%. Improving healthcare sector, treatment types, safety& emerging technologies are driving the market growth. Osteoarthritis is the most common form of arthritis, affecting millions of people worldwide.
It occurs when the protective cartilage that cushions the ends of your bones wears down over time. However osteoarthritis can damage any joint, the disorder most commonly affects joints in your hands, knees, hips & spine. There is an increase in risk of osteoarthritis as age increases. Various diseases arising due to age factor are accounted on large scale.
Non-steroidal Anti-inflammatory Drugs (NSAIDs) application on large scale
Non-steroidal Anti-inflammatory Drugs (NSAIDs) treatment has played a vital role in treatment of this disease. Prostaglandins are a family of chemicals that are produced by the cells of the body and have several important functions. Prostaglandins are produced within the body's cells by the enzyme cyclooxygenase (COX), there are two COX enzymes, COX-1 and COX-2.Examples of the most common NSAIDs include: aspirin salsalate (Amigesic), diflunisal (Dolobid), ibuprofen (Motrin), ketoprofen (Orudis). However there are some side effects caused by this treatment various research & efforts are being made to overcome them. The adverse effect of this treatment on other parts is treated along with it. Advances in technology are making enormous efforts to treat such diseases; similar efforts are also taken by non-profit organizations as OAFI Osteoarthritis Foundation International& WHO world health organization. Pharmaceutical company such as Lupin Limited has received approval from by FDA for Meloxicam capsules in 2020.
Above 60, age group dominates the market
The number of people aged 60 years or older will rise from 900 million to 2 billion between 2015 & 2050, which means growth from 12% to 22% of the total global population will be affected according to World Health Organization. Older people in low& middle income countries carry a greater disease burden than those in the rich world. The greatest causes of disability are sensory impairments, back & neck pain, chronic obstructive pulmonary disease, depressive disorders, falls, diabetes, dementia & osteoarthritis. As biological ageing is associated with person age, there is tremendous rise in people affected by osteoarthritis. In some cases the osteoarthritis is also found in adults & children as it is a genetic disorder, the effect of the disease may increase along with age if inappropriate treatment is caused.
North America holds largest share in regional analysis
The aging population, change in life style, lack of awareness of the disease, increase in genetic disorders & high cost for treatment are key factors for growth of osteoarthritis in North America. According to the National Public Health Agenda for Osteoarthritis in 2020, 1 in 7 adults are affected by osteoarthritis which holds for 32 million people in North America. FDA has approved a drug named Triluron which is used for the treatment of pain in osteoarthritis of the knee in patients who have not responded to non-surgical treatments from physical therapy and simple pain medicines. As this drug is intended to relieve pain associated with osteoarthritis in the knee for up to six months after the first dose, similar treatment are carried out to overcome osteoarthritis. Increasing prevalence ratesacross regions such as Europe & Asia Pacific tend to develop research & treatment of osteoarthritis. The associations play a vital role in awareness in the region associated with it.
Key questions answered in this report
- What are the key market segments in current scenario and in the future by product categories?
- What are the key market segments in current scenario and in the future by regions?
- What is the key impact of Covid-19 over market revenues and market determinants in the Osteoarthritis Treatment Market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segment?
- Who are the key players in the Osteoarthritis Treatment Market and what are their key product categories and strategies?
- What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
- Evolving Osteoarthritis Treatment Trend and Rise in Discretionary Income
- Superiors Advantages of Using OT
- Increasing use of Customized material as a Promotional Tool
- Limitations of Osteoarthritis Treatment over other Methods
- Impact Analysis of Drivers and Restraints
- Sanofi SA
- GlaxoSmithKline plc
- Pfizer Inc
- Bayer AG
- Zimmer Biomet
- Horizon Therapeutics PLC
- Johnson & Johnson
- Eli Lilly
- Anika Therapeutics Inc
- Novartis AG
- Ferring Pharmaceuticals
- Lupin Limited
- Virchow Biotech
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