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“The osteoarthritis therapeutics market is projected to register a CAGR of 8.1% during the forecast period.”
The osteoarthritis therapeutics market is projected to reach USD 10.1 billion by 2024 from USD 6.8 billion in 2019, at a CAGR of 8.1%. Growth in this industry is driven by the rapid growth in the geriatric and obese population and the associated increase in the prevalence of osteoarthritis disease. On the other hand, the availability of alternative non-drug pain management therapies is a major market challenge.
“Knee osteoarthritis segment to witness the highest growth during the forecast period.”
Based on anatomy, the osteoarthritis therapeutics market is segmented into knee, hip, hand, and small-joint. The knee osteoarthritis segment is projected to grow at the highest CAGR during the forecast period. A large number of patients suffering from knee osteoarthritis is the major factor supporting the growth of this segment.
“Viscosupplementation agents segment to register the highest growth in the osteoarthritis therapeutics market during the forecast period.”
Based on drug type, the osteoarthritis therapeutics market is segmented into viscosupplementation agents, nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, and corticosteroids. The analgesics segment is sub-segmented into duloxetine and acetaminophen, while the NSAIDs segment is sub-segmented into naproxen, aspirin, diclofenac, ibuprofen, and other molecules. The viscosupplementation agents segment is projected to witness the highest growth in the osteoarthritis therapeutics market during the forecast period. The rising incidence of knee osteoarthritis is one of the major factors supporting the growth of this segment.
“Asia Pacific is estimated to register the highest CAGR during the forecast period.”
In this report, the osteoarthritis therapeutics market is segmented into four major regional segments, namely, Europe, North America, Asia Pacific, and the Rest of the World (RoW). The market in Asia-Pacific is projected to register the highest growth rate during the forecast period. The growth in this market is driven primarily by the rising incidence and prevalence of osteoarthritis, increasing geriatric and obese populations, and healthcare infrastructure improvements in several APAC countries.
Breakdown of Profiles of Primary Participants:
- By Company Type: Tier 1: 20%, Tier 2: 45%, and Tier 3: 35%
- By Designation: C-level: 30%, Director-level: 20%, and Others: 50%
- By Region: North America: 35%, Europe: 24%, Asia Pacific: 25%, and the Rest of the World: 16%
Key players in the osteoarthritis therapeutics market include Sanofi (France), Horizon Therapeutics (Ireland), Johnson & Johnson (US), GlaxoSmithKline Plc (UK), Bayer AG (Germany), Abbott (US), Pfizer (US), Eli Lilly (US), Anika Therapeutics (US), and Flexion Therapeutics (US).
The report analyzes the osteoarthritis therapeutics market by anatomy, drug type, route of administration, distribution channel, purchasing pattern, and region. Apart from comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by market players over the last three years. In addition, the company profiles include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output to remain successful in the market.
Key Benefits of Buying the Report:
This report will enable both established firms and new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help these firms garner greater market shares. Firms purchasing the report can use any one, or a combination of the below mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the osteoarthritis therapeutics market
- Product Development/Innovation: Detailed insights on the product approvals, R&D activities, and product launches in the osteoarthritis therapeutics market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the osteoarthritis therapeutics market
- Market Development: Detailed information about emerging markets. The report analyzes the market for various osteoarthritis therapeutics across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the osteoarthritis therapeutics market