DUBLIN, Oct. 23, 2019 /PRNewswire/ -- The "Osteoarthritis Therapeutics Market by Anatomy (Knee, Hip), Drug Type (NSAIDs, Corticosteroids), Route of Administration (Parenteral, Topical), Distribution Channel (Hospital Pharmacies), Purchasing Pattern (Prescription Drugs) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
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).
- Rapid Growth in the Geriatric and Obese Populations and the Associated Increase in the Prevalence of Osteoarthritis
- Increasing Incidence of Sports Injuries
- Risk of Adverse Cardiovascular Events Associated With the Use of Nsaids in Osteoarthritis Treatment
- Emerging Markets
- Strategic Collaborations Focused on New Product Development
- Availability of Alternative Non-Drug Pain Management Therapies
- Anika Therapeutics, Inc.
- Bayer AG
- Eli Lilly
- Ferring Pharmaceuticals
- Fidia Farmaceutici S.P.A.
- Flexion Therapeutics, Inc.
- GlaxoSmithKline PLC
- Horizon Therapeutics PLC
- Johnson & Johnson
- Pfizer, Inc.
- Zimmer Biomet Holdings, Inc.
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