Osteoarthritis affects millions of people worldwide. It is the most common form of arthritis and accounts for most of the disability compensation claims every year. Osteoarthritis is an autoimmune disease that causes swelling and stiffness in the joints of the feet and hands. It is considered to be a normal part of aging and often starts in middle age although it can also affect people in their twenties and thirties. This is mainly due to the fact that the cartilage cushion in the joints begins to erode with age, allowing the stiff bones in the joints to move and become gradually irritated. Osteoarthritis is usually characterized by progressive wearing away of the cartilage lining in the knee joints and the spine, which leads to a loss of cartilage strength and flexibility and eventually to hip and knee joint pain, swelling, stiffness, and even bone deterioration.
Osteoarthritis is known to be caused by wear on the cartilage in the bones due to age and/or stressful conditions. Excess weight is one of the main factors that lead to osteoarthritis. As the body’s weight increases, the pressure on the joints is increased as well, thereby causing the cartilage to break down. Other reasons for osteoarthritis include chronic inflammation and infection, sedentary lifestyles, diabetes, low blood circulation, poor diet, and lack of exercise.
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Osteoarthritis is one of the most prevalent chronic diseases across the globe
Growing prevalence of osteoarthritis is a prime factor propelling growth of the market. Centers for Disease Control and Prevention, 2016, reveals that there are over 100 types of arthritis and the most common form is osteoarthritis. Arthritis affected around 54.4 million adults in the U.S. during 2013- 2015. According to the Arthritis Foundation, 2014, over US$ 156 billion are dedicated annually in lost wages and medical expenses towards treatment of arthritis. Moreover, Barbour 2017 states that arthritis affects 1 in every 4 adults in U.S. The Arthritis Foundation also reveals that out of the 54.4 million arthritic patients in the U.S., around 30.8 million suffered from osteoarthritis, in 2015.
The global osteoarthritis treatment market is segmented on the basis of medications, therapies, end-user, and geography.
On the basis of medications, the global osteoarthritis treatment market is segmented into:
- Non- Steroidal Anti- Inflammatory
Based on the therapies, the global osteoarthritis treatment market is segmented into:
- Non- Pharmacological Therapy
- Pharmacological Therapy
- Surgical Treatment
On the basis of end-user, the global osteoarthritis treatment market is segmented into:
Continous launch of novel therapies in Asian countries to foster growth of the osteoarthritis treatment market
Based on the regional segmentation, the global osteoarthritis treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the largest share of the global osteoarthritis treatment market, due to high prevalence rate of arthritis in the region this is attributed to the increasing obese population in this region. This in turn boosting the market growth. At the same time, Europe holds the second largest share of market after North America, due to increasing healthcare budget to many folds and significant outcomes of the R&D sector. For instance, a European study conducted in May, 2017, developed an application of Chondroitin sulfate as an anti- inflammatory drug to help treat osteoarthritis of the knee.
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Asia Pacific is projected to be the fastest growing market due to increasing developments in the healthcare facilities and establishment of new health care centers for orthopedic treatment in countries such as China, Japan, and India. For example, the make-in-India project launched its first bone treatment cell therapy products, Ossron and Chondron in June 2017. Moreover, the synvisc fluid filling procedure offering innovative regenerative cell treatment, was developed by the make-in-India initiative is expected to help combat knee and hip pain to over 60 million people suffering from osteoarthritis, in India.
Cost-effective and innovative medications responsible to foster the global osteoarthritis treatment market
The advent of new and cost effective medications for the treatment of osteoarthritis is propelling growth of the global osteoarthritis treatment market. The Tanezumab, a drug jointly developed by Pfizer and Eli Lily, 2017, used for the chronic lower back pain relief in osteoarthritis, is awaiting FDA approval, which is expected to help millions of people.
High number of orthopedic injuries, crystal deposition, old age, joint injury, and increasing number of pipeline drugs are few other factors responsible driving growth of the global osteoarthritis treatment market. On the other hand, less adoption of osteoarthritis treatment and side effects associated with the treatments are projected to hinder the growth of the global osteoarthritis treatment market.
The key players are focusing on R&D to establish their presence in the global osteoarthritis treatment market
The key players engaged the global osteoarthritis market are Johnson & Johnson Ltd., Abbott Laboratories, Pfizer, Inc., Novartis AG, Eli Lily and Co., Abiogen Pharma, Ampio Pharmaceuticals, Halyard Health, and BioDelivery Sciences International, Inc. The key players are involved in introducing new and innovative products for the osteoarthritis treatment to increase sales in the global market. For instance, the Halyard Health introduced the first cooled radiofrequency (RF), minimally invasive needles, and water cooled electrodes that are specifically used to alleviate chronic knee pain in osteoarthritis.
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• Current and future of global Osteoarthritis Treatment Market outlook in the developed and emerging markets
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Osteoarthritis Treatment Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Osteoarthritis Treatment Industry Impact
Chapter 2 Global Osteoarthritis Treatment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Osteoarthritis Treatment (Volume and Value) by Type
2.3 Global Osteoarthritis Treatment (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Osteoarthritis Treatment Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Osteoarthritis Treatment Market Analysis
Chapter 6 East Asia Osteoarthritis Treatment Market Analysis
Chapter 7 Europe Osteoarthritis Treatment Market Analysis
Chapter 8 South Asia Osteoarthritis Treatment Market Analysis
Chapter 9 Southeast Asia Osteoarthritis Treatment Market Analysis
Chapter 10 Middle East Osteoarthritis Treatment Market Analysis
Chapter 11 Africa Osteoarthritis Treatment Market Analysis
Chapter 12 Oceania Osteoarthritis Treatment Market Analysis
Chapter 13 South America Osteoarthritis Treatment Market Analysis
Chapter 14 Company Profiles and Key Figures in Osteoarthritis Treatment Business
Chapter 15 Global Osteoarthritis Treatment Market Forecast (2021-2027)
Chapter 16 Conclusions
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