Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Osteoarthritis Drugs Market, by Drug Class (Analgesics, Nonsteroidal Anti-Inflammatory Drugs, Corticosteroids, Hyaluronic Acid, and Phase III Drugs), by Route of Administration (Oral and Parenteral), by Disease Type (Ankle Osteoarthritis, Hip Osteoarthritis, Knee Osteoarthritis, Shoulder Osteoarthritis, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5,895.1 million in 2017 and is expected to exhibit a CAGR of 8.2% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
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Increasing research and development by market players is expected to augment the market growth.
Major market players in the market are focusing on research and development of new therapies, in order to cater to the critical unmet needs of patients. For instance, in December 2017, Regeneron Pharmaceuticals initiated phase III study of Fasinumab indicated for the treatment of osteoarthritis. The study is expected to be completed in May 2019.
Moreover, rising focus of market players to launch products for symptomatic treatment of osteoarthritis is further expected to boost the market growth over the forecast period. For instance, in January 2019, Bioventus launched DUROLANE in distribution partnership with Athrotech in Malaysia. DUROLANE is an injection for joint fluid osteoarthritis, which is indicated in mild to moderate knee osteoarthritis.
Browse 33 Market Data Tables and 25 Figures spread through 231 Pages and in-depth TOC on ‘Osteoarthritis Drugs Market’- Global Forecast to 2026, by Drug Class (Analgesics, Non-steroidal Anti-inflammatory Drugs, Corticosteroids, Hyaluronic Acid, and Phase III Dugs), by Route of Administration (Oral and Parenteral), by Disease Type (Ankle Osteoarthritis, Hip Osteoarthritis, Knee Osteoarthritis, Shoulder Osteoarthritis, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the osteoarthritis drugs market Press Release, click the link below: https://bit.ly/2GzGR6X
The increasing geriatric population coupled with increasing incidence of osteoarthritis are the factors that are expected to drive the market growth over the forecast period. For instance, according to National Center for Biotechnology Information (NCBI) report published in August 2017, knee osteoarthritis accounts for around 80% of the total disease burden and affects around 19% of adults aged 45 years and above in the U.S..
Moreover, major players in the market are focusing on adopting strategies such as mergers and acquisitions to expand their product portfolio. For instance, in January 2016, Allergan acquired Anterios, Inc., a manufacturer of botulinum toxin-based prescription products.
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Key Takeaways of the Osteoarthritis Drugs Market:
- The global osteoarthritis drugs market is expected to exhibit a CAGR of 8.2% over the forecast period, attributed to increasing prevalence of osteoarthritis. For instance, according to the National Centre for Biotechnology Information (NCBI), January 2016, around 130 million individuals are expected to be diagnosed with osteoarthritis by 2050, globally.
- On the basis of drug class, non-steroidal anti-inflammatory drugs (NSAIDs) segment held a dominant position in the osteoarthritis drugs market in 2018. This is attributed to high availability of NSAIDs in the market.
- On the basis of administration, oral segment accounted for a major market share in the osteoarthritis drugs market in 2018, as majority of the drugs available in osteoarthritis are meant to be administered orally
- On the basis of distribution channel, hospital pharmacies accounted for a major market share in the osteoarthritis drugs market in 2018, as majority of the cases of osteoarthritis are registered at hospitals
- Major players operating in the global osteoarthritis drugs market include Pfizer Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Pharma plc, Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Inc., Sanofi, Flexion Therapeutics, Inc., Regeneron, and GlaxoSmithKline Plc.
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