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Osteoarthritis Therapeutics Market (By Drug Type: Viscosupplementation Agents, Nonsteroidal Anti-inflammatory Drugs, Analgesics, Corticosteroids; By Anatomy: Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, Small Joint Osteoarthritis; By Route of Administration: Parenteral Route, Topical Route, Oral Route; By Purchasing Pattern: Prescription Drugs, Over-the-Counter Drugs; By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

Published : Feb 2021

Report ID: ARC2426

Pages : 190

Format : Osteoarthritis Therapeutics Market (By Drug Type: Viscosupplementation Agents, Nonsteroidal Anti-inflammatory Drugs, Analgesics, Corticosteroids; By Anatomy: Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, Small Joint Osteoarthritis; By Route of Administration: Parenteral Route, Topical Route, Oral Route; By Purchasing Pattern: Prescription Drugs, Over-the-Counter Drugs; By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

The market for osteoarthritis therapeutics is expected to grow at a CAGR of around 7.7% from 2020 to 2027 and expected to reach the market value of around US$ 12.5 Bn by 2027.

Osteoarthritis (OR) is a form of arthritis that occurs when the protective cartilage that cushions the ends of bones wears down over time. Moreover, osteoarthritis can damage any joint but it mostly affects the joints including hands, knees, hips, and spine. The major cause of Osteoarthritis is old age, injury, or obesity. There are five stages of osteoarthritis in general including Stage 0, Stage 1 (Minor), Stage 2 (Mild), Stage 3 (Moderate), and Stage 4 (Severe). Some of the major symptoms of osteoarthritis include increased swelling and inflammation, increased pain, decreased range of motion, and joint instability.

Market Dynamics

The significant adoption of pain medications along with the increasing disposable income is driving the market growth. The increasing prevalence of osteoarthritis due to changing lifestyles and the increasing geriatric population is bolstering the market growth. The growing population susceptibility to osteoarthritis and the rising number of sports injuries across the globe is further bolstering the market value. Furthermore, personalized medicines for osteoarthritis and expected demand in emerging markets are the factors projected to create potential opportunities over the forecast timeframe from 2020 to 2027.

On the other side, the risk of adverse cardiovascular events associated with the use of NSAIDs in osteoarthritis treatment and commercialization of alternatives in the market are the factors likely to limit the growth to an extent over the forecast timeframe from 2020 to 2027.

Instance of Global Osteoarthritis Therapeutics Market

Prescription Drugs accounted for the maximum revenue share in the global osteoarthritis therapeutics market

Based on purchasing patterns, prescription drugs are the leading segment in the global osteoarthritis therapeutics market, and the segment is also anticipated to maintain its dominance over the forecast period from 2020 to 2027. Analgesics and non-steroidal anti-inflammatory drugs (NSAIDs) are prescribed for treating pain.

Europe is having potential revenue share in the Osteoarthritis Therapeutics Market

In 2019, Europe has registered a maximum share in terms of revenue on account of the presence of a huge geriatric and obese population base in the regional market. Germany, UK, France are the major contributors to the regional market value. The presence of major players in the region is additionally bolstering the regional market value. According to an article published by Oxford University Press, the most common type of arthritis, OA has affected more than 40 million people across Europe in 2014 and has a lifetime risk of 45% for knee OA and 25% for hip OA. Europe has a strongly aging population and prevalence of obesity which is supporting the regional market value.  The Europe region is followed by North America in the Osteoarthritis Therapeutics Market. The major economies of the region including the US and Canada are the major contributors to the regional market value. Moreover, the Asia Pacific along with its developing economies is estimated to experience the fastest growth with maximum CAGR (%) during the forecast period.

Key Market Players

The players profiled in the report include Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Novartis AG, Pfizer Inc., Sanofi S.A., and others.

Market Segmentation

Market By Drug Type

Viscosupplementation Agents

Nonsteroidal Anti-inflammatory Drugs

  • Naproxen
  • Aspirin
  • Diclofenac
  • Ibuprofen
  • Other NSAIDs

Analgesics

  • Duloxetine
  • Acetaminophen

Corticosteroids

Market By Anatomy

Knee Osteoarthritis

Hip Osteoarthritis

Hand Osteoarthritis

Small Joint Osteoarthritis

Market By Route of Administration

Parenteral Route

Topical Route

Oral Route

Market By Purchasing Pattern

Prescription Drugs

Over-the-Counter Drugs

Market By Distribution Channel

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

Market By Geography

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

Frequently Asked Questions

What will be the market value of the global osteoarthritis therapeutics market?

The market for osteoarthritis therapeutics is expected to reach a market value of around US$ 12.5 Bn by 2027.

At what CAGR, the osteoarthritis therapeutics market is expected to grow during the forecast period (2020-2027)?

The osteoarthritis therapeutics market is expected to grow at a CAGR of around 7.7% from 2020 to 2027.

Which is the leading segment by purchasing pattern in the osteoarthritis therapeutics market?

Prescription drugs is the leading segment by purchasing pattern in the osteoarthritis therapeutics market

What are the key drivers of the global osteoarthritis therapeutics market?

The significant adoption of pain medications, increasing disposable income, increasing prevalence of osteoarthritis, changing lifestyle and increasing geriatric population, growing population susceptible to osteoarthritis, and rising number of sports injuries are some of the factors driving the market growth.

Which are the prominent players in the osteoarthritis therapeutics market?

Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Novartis AG, Pfizer Inc., and Sanofi S.A. are some of the prominent players in the osteoarthritis therapeutics market.

Which region held the highest market share in the osteoarthritis therapeutics market?

Europe held the highest market share in the osteoarthritis therapeutics market

Which region is expected to be the fastest growing market over the forecast period?

Asia Pacific is expected to be the fastest growing market over the forecast period

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