The global osteoarthritis therapeutics market is estimated to grow at a CAGR of 8.2% during the forecast period. Some pivotal factors encouraging market growth include a significant prevalence of arthritis and the increasing number of sports injuries. As per the Arthritis Foundation, in the US, nearly 54.4 million adults (22.7% of all adults) had doctor-diagnosed arthritis during the period, 2013-2015. By 2040, an estimated adult aged 18 years and older with doctor-diagnosed arthritis will be 78.4 million (25.9% of the estimated total adult population) in the US. Osteoarthritis is the most common form of arthritis.
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Analgesics are used for pain treatment; however, they don’t treat inflammation. This drug class works by stopping signals in the body that creates pain. Instances of analgesics include Acetaminophen (Tylenol) and Duloxetine (Cymbalta). Acetaminophen (Tylenol) is an over the counter (OTC) analgesic that can be administered orally as a tablet, gel capsule, or liquid concentration. Duloxetine is utilized for the treatment of depression; however, it is also utilized off-label for the treatment of chronic pain reported due to osteoarthritis. Another class of drugs is known as nonsteroidal anti-inflammatory drugs (NSAIDs) that are also used for the treatment of pain. As compared to analgesics, NSAIDs also support the prevention of joint damage and painful inflammation. These drugs are regarded as a suitable choice to treat osteoarthritis patients as they are non-sedating and effective.
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Market Coverage
- Segment Covered- By Anatomy and Drug Type
- Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World
- Competitive Landscape- Pfizer Inc., Bayer AG, Zimmer Biomet Holdings, Inc., Sanofi S.A., and GlaxoSmithKline plc
Recent Strategic Initiatives in the Global Osteoarthritis Therapeutics Market
- In February 2020, GlaxoSmithKline plc declared the US FDA approval of Voltaren Arthritis Pain (diclofenac sodium topical gel, 1% (NSAID). It is an arthritis pain relief available as an OTC product to temporarily provide relief from arthritis pain in the knee, elbow, hand, ankle, wrist, or foot, in adults (18 years and older). With the approval of the US FDA, Voltaren Arthritis Pain becomes the first and only prescription-strength, NSAID topical gel for arthritis pain available OTC in the US. This approval will offer approximately 30 million Americans suffering from osteoarthritis OTC access to the topical treatment option.
- In January 2019, OrthogenRx, Inc. declared the introduction of TriVisc (sodium hyaluronate) to treat patients with osteoarthritic knee pain who have failed to get sufficient relief from physical therapy or exercise or simple painkillers. TriVisc is a highly purified hyaluronic acid (sodium hyaluronate; HA) solution and supports supplement the viscous properties of the fluid in the knee joint.
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Osteoarthritis Therapeutics Market-Segmentation
By Anatomy
- Knee
- Ankle
- Hip
- Hand
- Spine
By Drug Type
- Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
- Viscosupplementation Agents
- Corticosteroids
- Analgesics
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