Introduction of the Osteoarthritis Therapeutics Market Report

A type of arthritis that occurs when flexible tissue at the ends of bones wears down. The wearing down of the protective tissue at the ends of bones (cartilage) occurs with time and worsens over time. Although osteoarthritis can damage joints, the disorder most commonly affects joints in hands, knees, hips and spine. Thus with the increasing number of OA cases, the market is expected to witness growth.

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Market Dynamic

Key Drivers and Emerging Trends

The Osteoarthritis Therapeutics Market is forecast to witness a promising growth over the upcoming years, primarily because of the accelerating geriatric population and increasing incidences of osteoarthritis, obesity, and blood sugar. As per the Journal of EClinicalMedicine, in 2020, approximately 22% of the population above 40 years of age were diagnosed with knee osteoarthritis. As per the Osteoarthritis Therapeutics Market global forecast, factors including adoption of pain medications to control osteoarthritis pain, increasing sports injuries, and growing demand for minimally invasive surgical process are projected to expand the market growth. In addition, increasing government initiatives such as funding for the development of research centres and investment in cell-based research will positively impact the Osteoarthritis Therapeutics Market Size.

Moreover, the leading market players have adopted various favourable strategies, which include product innovation, partnerships, acquisitions and mergers, to expand their product portfolio and maintain their competitiveness in the market. For example, in October 2019, Kitov Pharma Ltd collaborated with Coeptis Pharmaceuticals, to ensure the efficient distribution and commercialization of Consensi in the United States. However, high cost associated with the drug used for osteoarthritis and the side effects of nonsteroidal anti-inflammatory drugs, such as stomach ulcer, dizziness, and allergic reaction, are projected to restrain the Osteoarthritis Therapeutics Market Size over the forecast period.

Restraint in the Osteoarthritis Therapeutics Market

However, risk of adverse cardiovascular events associated with the use of NSAIDs in osteoarthritis treatment is hampering the current market aspect and is likely to crate hindrance even in the forecast period.

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Type – Segment Analysis

Based on the type, hip osteoarthritis is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the rising population age 60 years, which has helped in changing the landscape of the market. For instance, according to WHO, by the end of 2050, the population aged 60 years is expected to reach 2 billion due to a dramatic increase in the percentage of average life expectancy, which may act as a boosting factor for the market.

End-Users – Segment Analysis

Based on the end-users, hospitals are expected to grow at a higher CAGR in the market over the forecast period. Strategic initiatives by the government and regulatory bodies for the development and expansion of the healthcare infrastructures have surged the growth of the market. For instance, in 2020 German Health Minister had announced US$ 3.53 billion for hospitals, which is anticipated to drive the overall growth of the market.

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Regional – Segment Analysis:

Based on the regional coverage, North America is anticipated to grow at a higher CAGR in the market over the forecast period. This is due to the strong presence of the key players in the region, which has pushed the market. For instance, Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Johnson & Johnson, Novartis AG have strong presence in Americas. In addition, U.S. has one of the strongest healthcare systems across the globe, as stated by the American Osteopathic Association, which has generously pushed the market.

Top Market Players

Various notable players operating in the market, include, Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Johnson & Johnson, Novartis AG, Pfizer Inc., Sanofi, Zimmer Biomet Holdings Inc., Anika Therapeutics Inc., among others. 

Key Developments:

• • In 2020, GlaxoSmithKline Plc. Officially announced the launch of Voltaren in US, which has helped the company in the upgrading the product list in the region.

Segments covered in the Report:

The global osteoarthritis therapeutics market has been segmented on the basis of type, treatment type, route of administration, end-users and regions. Based on type, the market is segmented into hip osteoarthritis, spinal osteoarthritis and others. Based on treatment type, the market is segmented into medication, surgery and therapy. Based on route of administration, the market is segmented into oral, parenteral and others. Based on end-users the market is segmented into hospitals, homecare, specialty clinics and others. 

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Key questions answered in this research report:

• • At what pace is global osteoarthritis therapeutics market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in osteoarthritis therapeutics market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global osteoarthritis therapeutics market?
  • Which type generated maximum revenues in 2020 and identify the most promising type during the forecast period?
  • What are the various treatment type areas of global osteoarthritis therapeutics market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Treatment Type, By Route of Administration, By End-Users, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Johnson & Johnson, Novartis AG, Pfizer Inc., Sanofi, Zimmer Biomet Holdings Inc., Anika Therapeutics Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Osteoarthritis Therapeutics Market by Type

• • Hip Osteoarthritis
  • Spinal Osteoarthritis
  • Others

Global Osteoarthritis Therapeutics Market by Treatment Type

• • Medication
  • Surgery
  • Therapy

Global Osteoarthritis Therapeutics Market by Route of Administration

• • Oral
  • Parenteral
  • Others

Global Osteoarthritis Therapeutics Market by End-Users

• • Hospitals
  • Homecare
  • Specialty Clinics
  • Others

Global Osteoarthritis Therapeutics Market by Region

• • North America Osteoarthritis Therapeutics Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Treatment Type
    • By Route of Administration
    • By End-Users
    • US Market All-Up
    • Canada Market All-Up
  • Europe Osteoarthritis Therapeutics Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Treatment Type
    • By Route of Administration
    • By End-Users
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Osteoarthritis Therapeutics Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Treatment Type
    • By Route of Administration
    • By End-Users
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Osteoarthritis Therapeutics Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Treatment Type
    • By Route of Administration
    • By End-Users
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Osteoarthritis Therapeutics (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Abbott Laboratories
  • Bayer AG
  • Hoffmann-La Roche Ltd.
  • GlaxoSmithKline Plc
  • Johnson & Johnson
  • Novartis AG
  • Pfizer Inc.
  • Sanofi
  • Zimmer Biomet Holdings Inc.
  • Anika Therapeutics Inc.