According to the report published by Allied Market Research, the global Osteoarthritis Therapeutics Market generated $6.75 billion in 2020, and is estimated to reach $15.69 billion by 2030, manifesting a CAGR of 8.8% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
What are the key trends in the osteoarthritis therapeutics market report?
The key trends in the osteoarthritis therapeutics market are by increase in prevalence of osteoarthritis; advancements in R&D activities for drug development; increase in funding from private & government organizations for development of healthcare sector and research centres and rise in demand for cell based research activities.
What are the market values / growth % of emerging countries?
Asia-Pacific is expected to register the highest CAGR of 9.1% from 2021 to 2030, owing to increase in prevalence of osteoarthritis, rise in number of female population, growth in health care expenditures, and lack of physical activities
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- Covid 19 impact trends and perspective
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- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
Covid-19 Situation –
- The increase in the number of COVID-19 patients and the decline in the use of non-steroidal anti-inflammatory drugs and corticosteroids have negatively impacted the market.
- According to World Health Organization guidelines published in 2019, a systemic corticosteroid can be avoided in patients diagnosed with osteoarthritis along with COVID-19. This has contributed to the decline of the global osteoarthritis treatment market.
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According to Anatomy, the knee osteoarthritis segment accounted for the largest market share in 2020, contributing more than three-fifths of the total share, and is expected to hold the lead throughout the forecast period. The same segment is estimated to witness the 9.3% faster CAGR between 2021 and 2030. The report also covers other segments such as osteoarthritis of the hip, osteoarthritis of the hand and osteoarthritis of the small joints.
Depending on the region, Europe, followed by Asia-Pacific and North America, contributed the highest share in 2020, with nearly a third of the total share, and is expected to maintain dominance throughout the forecast period. The Asia-Pacific region is expected to record the fastest CAGR of 9.1% between 2021 and 2030.
Major Key Market Players in the Industry –
- Abbott Laboratories
- Bayer AG
- Flexion Therapeutics, Inc.
- GlaxoSmithKline plc.
- Horizon Therapeutics plc.
- Johnson & Johnson
- Pfizer Inc.
- Zimmer Biomet Holding
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Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What is the total market value of osteoarthritis therapeutics market report?
Q2. What would be forecast period in the market report?
Q3. What is the market value of osteoarthritis therapeutics market in 2021?
Q4. Which is base year calculated in the osteoarthritis therapeutics market report?
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Key findings of the study –
- By anatomy, the knee osteoarthritis segment was the highest contributor to the market in 2020.
- On the basis of drug type, the nonsteroidal anti-inflammatory drugs segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
- As per distribution channel, the hospital pharmacies segment was the highest contributor to the osteoarthritis therapeutics market in 2020.
- Region-wise, Europe garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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