Osteoarthritis Drug Market - Global Industry Analysis

Osteoarthritis Drug Market

Osteoarthritis Drug Market Size, Share, Growth, Analysis Report

Category: Pharmaceutical Report Format : PDF Pages: 110 Report Code: ZMR-3760 Published Date: Jan-2019 Status : Published

The global osteoarthritis drug market size is expected to generate around USD 10,327 million by 2025, at a CAGR of around 8.1% between 2019 and 2025. The primary factor likely to drive the global osteoarthritis drug market over the estimated timeframe is the constantly rising aging population.

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Osteoarthritis is a joint degenerative disorder that affects various joint, which mostly affects the elderly population. In osteoarthritis, the smooth gliding surface between joints that provides easy movement is affected with age. This leads to swelling, pain, tenderness, and stiffness in joints and affects the normal movement and quality of life of an individual. There is no permanent cure for this condition. However, medicines help in suppressing the symptoms to a certain extent, thereby offering relief to patients. The medications used for the osteoarthritis treatment mostly include pain relievers, such as Paracetamol, ibuprofen, naproxen, etc. Osteoarthritis affects the knee, shoulder, lower back, etc.

The primary factor likely to drive the global osteoarthritis drug market over the estimated timeframe is the constantly rising aging population. As per the National Institutes of Health Report, in 2017, nearly 617 million people were 65 years and above. This number is projected to reach around 1.6 billion by the year 2050. The growing prevalence of osteoarthritis among people is another factor expected to promote the expansion of osteoarthritis drug market globally in the future. As per the Centers for Disease Control and Prevention report 2017, there were around 30 million adults in the U.S. suffered from osteoarthritis. FDA approvals for various drugs are expected to create new growth opportunities in this market. Moreover, increasing research and development activities and innovation of new drugs are also expected to support the growth of the global osteoarthritis drug market over the estimated timeframe. However, the low adoption rate and side effects of these drugs might hamper the growth of the osteoarthritis drug market in the future.

Global Osteoarthritis Drug Market

The global osteoarthritis drug market is classified into a drug class, route of administration, and distribution channel. By drug class, the osteoarthritis drug market is segmented into corticosteroids, NSAIDs, viscosupplementation agents, and others. Viscosupplementation agents are expected to expand significantly over the forecast time period. By route of administration, this market is segmented into oral, parenteral, and topical. The parenteral segment is expected to dominate this global market over the forecast timespan. The distribution channel segment includes hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies are expected to hold a major market share in the upcoming years.

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the regional segmentation of the global osteoarthritis drug market. North America is expected to dominate the global osteoarthritis drug market in the future, due to the presence of developed economies, such as the U.S. and Canada. Europe is anticipated to be the second largest region in the osteoarthritis drug market in the upcoming years, owing to the presence of advanced technology. The Asia Pacific osteoarthritis drug market is the third largest and likely to emerge as the fastest growing over the forecast period, owing to the presence of developing economies, such as India and China. The Latin American and the Middle Eastern and African markets are expected to register a sluggish rate of growth over the forecast timeline.

Some major players of the global osteoarthritis drug market include Pfizer Inc., Horizon Pharma plc, Ferring B.V., Bioventus, Inc., Sanofi, Flexion Therapeutics, Inc., Alkem Laboratories, Anika Therapeutics, Inc., Chugai Pharmaceutical Co., Limited, and Zimmer Biomet Holdings, Inc., among others.

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