Osteoarthritis Therapeutics Market
The Osteoarthritis Therapeutics Market is expected to grow at a robust CGAR over the forecast period (2021-2028).
The factors driving the growth of Osteoarthritis Therapeutics Market includes rise in the geriatric population around the world, increasing cases of diabetes, obesity and osteoarthritis and rise in the number of research centers. According to the report published by World Health Organization (WHO), the prevalence of obesity worldwide has tripled during 1975 to 2016, around 39% of adults aged 18 and above were reported obese in 2016, which is pushing the demand for osteoarthritis therapeutics treatments all over the world. Moreover, the increasing use of pain medications to control osteoarthritis pain, rise in the number of sports injuries, drug approvals for the treatment of osteoarthritis pain, growing investments in cell-based research, are some of the additional factors supplementing the Osteoarthritis Therapeutics Market size. In addition, the increasing Government expenditure on improvement in the health care facilities, technological advancements in osteoarthritis, growing demand for demand for minimally invasive surgical procedures, rising disposable incomes and rapid urbanization, are further contributing to the market growth.
However, the growth of Osteoarthritis Therapeutics Market is hindered due to high cost of drugs used for osteoarthritis treatment.
The prominent players operating in the market are Novartis AG, Pfizer Inc., Sanofi, Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., Zimmer Biomet Holdings Inc., Anika Therapeutics Inc., GlaxoSmithKline Plc and Johnson & Johnson, among others.
Type – Segment Analysis
As per the Osteoarthritis Therapeutics Market Global Forecast, the Hip Osteoarthritis segment is expected to expand at a remarkable CAGR during the forecast period attributed to rise in the geriatric population.
End-Users – Segment Analysis
Based on End-Users, the Hospitals segment is estimated to grow at a significant CAGER over the forecast period owing to increasing Government expenditure on improving the health care facilities, as per the economic survey, the Indian Government is spent INR 4.72 lakh crore during FY 2021-22, showing an increase of 73% as compared to previous Financial Year.
Regional – Segment Analysis
Based on Region, the North American region is predicted to capture a sizeable market share during the forecast period. Presence of the leading players such as Abbott Laboratories and Johnson & Johnson, rise in Government’s expenditure on the healthcare sector, increasing incidence of diabetes and high per capita income, are some of the important factors augmenting the market growth in North American region.
Market Segmentation
Global Osteoarthritis Therapeutics Market by Type
- Hip Osteoarthritis
- Spinal Osteoarthritis
- Others
Global Osteoarthritis Therapeutics Market by Treatment Type
- Medication
- Surgery
- Therapy
Global Osteoarthritis Therapeutics Market by Route of Administration
- Oral
- Parenteral
- Others
Global Osteoarthritis Therapeutics Market by End-Users
- Hospitals
- Homecare
- Specialty Clinics
- Others
Global Osteoarthritis Therapeutics Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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