The global arthritis pain management market is projected to grow at a considerable CAGR of 5.2% during the forecast period. The market is primarily driven by the rising incidence of arthritis disorder due to a sedentary lifestyle. According to the Centers for Disease Control and Prevention (CDC), an estimated 78.0 million US adults aged 18 years or older are projected to have doctor-diagnosed arthritis by 2040. This medical condition is more prevalent in the geriatric population, which is on the rise due to the advancements in the healthcare industry, globally. This is also driving the market growth. In addition, the increased adoption of pain medication is also contributing to market growth.
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Market Synopsis
- The arthritis pain management market is segmented by drug type (into anti-inflammatory biologics, disease-modifying antirheumatic drugs (DMARDs), non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and others), end-user (into hospitals, ambulatory surgical centers (ASCs), and others) and region (into North America, Europe, Asia-Pacific and Rest of the World).
- Among the various regions, North America is anticipated to hold a major market share during the forecast period. This is due to the presence of key market players in the region such as Johnson & Johnson Services, Inc., Pfizer, Inc., and Amgen Inc. Other factors contributing positively to the regional industry growth include the prevalence of a structured medical reimbursement policy, high disposable income, and rising incidences of arthritis with improvements and advancements in healthcare facilities.
- In addition to North America, the emerging economies of APAC such as India and China, are expected to witness significant growth. This would be aided by the presence of a large targeted patient pool and government funding. The other drivers include the escalating number of trained joint replacement surgeons along with increasing sedentary lifestyle, rising healthcare expenditure, rising medical tourism, and improved healthcare infrastructure in the region.
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- The market is largely constrained by the use of Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), which are widely used to cure arthritis pain. This is because (NSAIDs), are associated with an increased risk of cardiovascular diseases.
The major players in the global arthritis pain management market include Johnson & Johnson Services Inc., f. Hoffman La Roche, Merck & Co. Inc., Sanofi SA, Pfizer Inc., Abbvie, Inc., Allergen PLC, Bayer AG, Amgen Inc., and others. The rising adoption of personalized medicines is presenting an opportunity, to the market, worth exploiting. This is primarily based on using biomarkers for clinical relevance.
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