osteoarthritis Market Key Players Analysis Growth

Global Osteoarthritis Market

Market Overview

The global osteoarthritis market is anticipated to secure USD 12.45 Bn while recording a CAGR of 8.7% during the forecast period. The growth of the market can be attributed to the increasing geriatric population. The increasing government investments in cell-based research are likely to propel the industry in the assessment period. Further, growing funding from private and government organizations for the development of the healthcare sector and research centers is anticipated to fuel the market significantly. Besides, spurred demand for cell-based research activities is likely to bolster the market. For instance, in 2018, the Journal of Stem cells International announced a new approach for the treatment of osteoarthritis by mesenchyme stem cell therapy. In addition, rising approval for the drug is likely to expand the market size. For instance, in March 2020, the U.S FDA accepted the regulatory submission for Tanezumab, which is used for the treatment of patients with chronic pain caused due to moderate to severe osteoarthritis.

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Market Segmentation

The global osteoarthritis market can be segmented into Anatomy, Drug Type, Route of Administration, Purchasing Pattern, and Distribution Channel.

Based on anatomy, the global osteoarthritis market can be segmented into hand osteoarthritis, knee osteoarthritis, hip osteoarthritis, and small joint osteoarthritis. The knee osteoarthritis segment dominated the market in 2020 and is likely to retain its position during the forecast period.

Based on drug type, the global osteoarthritis market can be segmented into Analgesics, Nonsteroidal Anti-inflammatory Medicines, Viscosupplementation agents, and Corticosteroids. Nonsteroidal anti-inflammatory drugs (NSAIDs) can be segmented into Naproxen, Diclofenac, Aspirin, Ibuprofen, and others. Analgesics can be classified into duloxetine and acetaminophen.

Based on the route of administration, the global osteoarthritis market can be segmented into the parenteral route and topical route, and oral route. Among all, the parenteral route is anticipated to garner a significant market share during the forecast period.

Based on purchasing patterns, the global osteoarthritis market can be segmented into over-the-counter drugs and prescription drugs. Between the two segments, the over-the-counter segment is projected to lead the market during the forecast period.

Based on the distribution channel, the global osteoarthritis market can be segmented into hospital pharmacies and retail and online pharmacies. The hospital pharmacies segment was the major contributor in 2020 and is likely to maintain its position during the forecast period.

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Regional Analysis

North America is anticipated to lead the market during the forecast period. The growth of the market can be attributed to the increasing number of obesity cases and the significant rise in obesity cases. According to United Nations World Population Ageing 2019 Report, in the United States, the number of people 65 years of age is expected to reach 70.842 million by 2032. Further, increasing research and development activities in the development of novel therapeutics in the North American region is projected to be another salient cause bolstering the industry in the forecast period. For instance, in March 2019, Fidia Pharma USA Inc. obtained FDA's approval for TRILURON, which is a hyaluronic acid (HA) based intra-articular viscosupplement indicated for the treatment of knee pain in osteoarthritis. Owing to the aforementioned factors, the market in North America is expected to lead the industry in the forecast period.

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Competitive Landscape

Key players of the global osteoarthritis market include

• Sanofi
• Abbott
• Pfizer
• Eli Lilly
• Novartis AG
• Ferring Pharmaceuticals
• Johnson & Johnson
• Bioventus
• Fidia Farmaceutici s.p.a
• Fliexion Therapeutics Inc.
• Hanmi Pharm Co. Ltd.

Some of the recent developments are:

• In February 2020, Anika Therapeutics Inc. acquired Arthosurface, which resulted in the growth of the joint preservation and restoration product portfolio.
• In December 2020, Moebius Medical received FDA clearance for its investigational new drug application to start a global multi-center Phase LLB clinical trial of MM-II.  It is a novel candidate for treatment for pain due to knee osteoarthritis.

Key Benefits of the report-:

1. Reveals insight into the restrictions present in the worldwide Osteoarthritis Market that can hamper the development of the market in the coming years. 

2. The report introduces a reasonable focus on how these limitations can be transformed into circumstances when surveyed appropriately.

3. Developing ways of life, tax collection arrangements, and buying forces of different economies have been examined in Osteoarthritis Market incredible detail. 

4. Displays generation and income estimates for the worldwide market, creation and utilization estimates for local needs, output, income, and value figures for the worldwide Osteoarthritis Market.

5. Offers a forward-looking point of view of the Osteoarthritis Market by giving nitty-gritty insights giving brisk data about the market's general advancement throughout the conjecture time frame.

6. Improves decision-making capabilities by presenting accurate to an extended picture of this vast Osteoarthritis Market.

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Some Points from Table of Contents of Global Osteoarthritis Market:

Chapter 1 Osteoarthritis Market Overview

1.1 Product Overview and Scope of Osteoarthritis

1.2 Osteoarthritis Market Segmentation by Type

1.2.1 Global Production Market Share of Osteoarthritis by Type in 2020

1.2.1 Type 1

1.2.2 Type 2

1.2.3 Type 3

1.3 Osteoarthritis Market Segmentation by Application

1.3.1 Osteoarthritis Consumption Market Share by Application in 2020

1.3.2 Application 1

1.3.3 Application 2

1.3.4 Application 3

1.4 Osteoarthritis Market Segmentation by Regions

1.4.1 North America

1.4.2 China

1.4.3 Europe

1.4.4 Southeast Asia

1.4.5 Japan

1.4.6 India

1.5 Global Market Size (Value) of Osteoarthritis (2014-2028)

Chapter 2 Global Economic Impact on Osteoarthritis Industry

2.1 Global Macroeconomic Environment Analysis

2.1.1 Global Macroeconomic Analysis

2.1.2 Global Macroeconomic Environment Development Trend

2.2 Global Macroeconomic Environment Analysis by Regions

Chapter 3 Global Osteoarthritis Market Competition by Manufacturers

TOC Continued……

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