Osteoarthritis Therapeutics Market Report by Anatomy Type (Knee, Hip, Hand, Spine, and Others), Drug Type (Nonsteroidal Anti-Inflammatory Drugs, Analgesics, Corticosteroids, and Others), Route of Administration (Parenteral, Topical, Oral), Distribution Channel (Hospitals, Specialty Clinics, Medical Institutions, and Others), and Region 2024-2032
The global osteoarthritis therapeutics market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Osteoarthritis (OA) is a heterogeneous condition characterized by progressive degeneration of cartilage in joints of the knees, hips, hands, feet, spine, shoulders and neck. OA generally leads to stiffness, swelling, tenderness, persistent pain, loss of flexibility, grating sensation, bone spurs and sleep disturbances. It can be diagnosed using physical examination, X-ray, arthroscopy, joint fluid analysis, blood tests and magnetic resonance imaging (MRI) scan. Various medications and surgical procedures are prescribed as per the different results to alleviate the signs and symptoms of the disease. Currently, alternative medicines, physical therapies and supportive devices are available in the market to relieve pain and improve joint function.
Global Osteoarthritis Therapeutics Market Trends and Drivers:
Sedentary lifestyles, unhealthy dietary patterns and the rising prevalence of obesity and blood sugar are increasing the risk of developing OA among individuals. This, in confluence with the growing geriatric population, which is more susceptible to such ailments, represents one of the key factors impelling the osteoarthritis therapeutics market growth. Apart from this, the easy access to MRI scans is acting as another major growth-inducing factor. Additionally, the development of imaging biomarkers based on radiographic features, coupled with the introduction of analgesic drugs, is contributing to the market growth. Furthermore, rising investments in the research and development (R&D) activities to launch new diagnostics and biomarkers, along with the increasing expenditures on improving healthcare infrastructure, is also driving the market. For instance, disease-modifying drugs are under development, which focus on proinflammatory cytokines for treating cartilage breakdown.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global osteoarthritis therapeutics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on anatomy type, drug type, route of administration and distribution channel.
Breakup by Anatomy Type:
Knee
Hip
Hand
Spine
Others
Breakup by Drug Type:
Nonsteroidal Anti-Inflammatory Drugs
Analgesics
Corticosteroids
Others
Breakup by Route of Administration:
Parenteral
Topical
Oral
Breakup by Distribution Channel:
Hospitals
Specialty Clinics
Medical Institutions
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Pfizer Inc. and Sanofi S.A.
Key Questions Answered in This Report
1. What was the size of the global osteoarthritis therapeutics market in 2023?
2. What is the expected growth rate of the global osteoarthritis therapeutics market during 2024-2032?
3. What are the key factors driving the global osteoarthritis therapeutics market?
4. What has been the impact of COVID-19 on the global osteoarthritis therapeutics market?
5. What is the breakup of the global osteoarthritis therapeutics market based on the anatomy type?
6. What is the breakup of the global osteoarthritis therapeutics market based on the drug type?
7. What is the breakup of the global osteoarthritis therapeutics market based on the route of administration?
8. What is the breakup of the global osteoarthritis therapeutics market based on the distribution channel?
9. What are the key regions in the global osteoarthritis therapeutics market?
10. Who are the key players/companies in the global osteoarthritis therapeutics market?