How is the Osteoarthritis Therapeutics Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Osteoarthritis Therapeutics Market Over the Coming Decade?
The market size for osteoarthritis therapeutics has robustly expanded over the past few years. The growth is anticipated to continue, elevating the market from $8.17 billion in 2024 to $8.87 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.6%. This growth during the historical period is largely due to factors such as an increasing aging population, development in drug delivery systems, a rise in awareness and diagnosis, the creation of new treatment therapies, and an increase in obesity rates.
In the coming years, considerable growth is anticipated in the osteoarthritis therapeutics market, with a forecast of $12.22 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 8.3%. Accelerating factors influencing this market expansion during the prediction period include escalating obesity rates, breakthroughs in treatment methods, improvements in awareness and diagnosis, the introduction of disease-modifying osteoarthritis drugs (DMOADs), and the allocation of research funds by governmental and private entities. The forecast period will see an enhanced focus on personalized medicine, the rise of regenerative therapies, advancements in pain management options, support from governmental and regulatory bodies, and an increase in demand from developing markets.
Which Major Market Drivers Are Expected to Boost the Osteoarthritis Therapeutics Market’s Growth Potential?
The osteoarthritis therapeutics market is anticipated to expand due to an increase in sports-related injuries. Sports or athletic activities can potentially result in injuries, ranging from minor to severe, affecting different parts of the body. The amplified participation in sports and the heightened intensity and rivalry present in these sports activities have led to an increase in sports injuries. They are managed and treated by osteoarthritis therapeutics which mitigates pain, reduces inflammation, and enhances joint function in athletes dealing with joint deterioration. Notably, according to the National Safety Council, a nonprofit and public service organization based in the US that promotes health and safety, there was a 12% rise in the number of sports and recreational injuries reported in 2022. Therefore, the growth of the osteoarthritis therapeutics market is fuelled by these increasing sports injuries.
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What Are the Major Players Making an Impact in the Osteoarthritis Therapeutics Market’s Growth?
Major companies operating in the osteoarthritis therapeutics market are Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., AbbVie Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, Novartis AG, GlaxoSmithKline plc, Medtronic plc, Eli Lilly and Company, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Daiichi Sankyo Company Limited, Zimmer Biomet Holdings Inc., Horizon Therapeutics plc, Taisho Pharmaceutical Co. Ltd., Ferring Pharmaceuticals, Galapagos NV, Bioventus LLC, Flexion Therapeutics Inc., Anika Therapeutics Inc., Seikagaku Corporation, Samumed LLC, Orthogen AG, Kolon Life Science Inc.
Which Upcoming Trends Are Set to Influence the Osteoarthritis Therapeutics Market’s Path Forward?
Major firms in the osteoarthritis therapeutics market are concentrating on the creation of novel solutions, emphasizing on inventive tissue regeneration methods for osteoarthritis. Tissue repair in osteoarthritis involves the restoration or replacement of harmed cartilage and joint tissues in order to regain normality and diminish pain. For example, in May 2023, the US government agency, the Advanced Research Projects Agency for Health (ARPA-H), announced its Novel Innovations for Tissue Regeneration in Osteoarthritis (NITRO) program. This program by ARPA-H is centered around developing revolutionary injectable treatments that promote cartilage restoration utilizing biological pathways aligned with those employed during embryonic growth. The program is characterized by a cooperative multimodal approach amongst research groups, coupled with state-of-the-art testing methods such as “joint-on-a-chip” technologies to simulate joint conditions with the goal of innovating regenerative solutions for the underlying causes of osteoarthritis.
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Which Industry Segments Are Leading the Development and Expansion of the Osteoarthritis Therapeutics Market?
The osteoarthritis therapeuticsmarket covered in this report is segmented –
1) Drug Type: Viscosupplementation Agents, Nonsteroidal Anti-inflammatory Drugs, Analgesics, Corticosteroids, Other Drug Types
2) By Anatomy: Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, Other Anatomies
3) By Route Of Administration: Parenteral Route, Topical Route, Oral Route
4) By Sales Channel: Prescription Drugs, Over-the-Counter Drugs
5) By End-use: Hospital Pharmacies, Retail Pharmacies, Other End-uses
Subsegments:
1) Viscosupplementation Agents: Hyaluronic Acid Injections, Single-Injection Products, Multi-Injection Products
2) Nonsteroidal Anti-inflammatory Drugs: Oral NSAIDs, Topical NSAIDs, COX-2 Inhibitors
3) Analgesics: Opioid Analgesics, Non-Opioid Analgesics, Topical Analgesics
4) Corticosteroids: Injectable Corticosteroids, Oral Corticosteroids, Intra-Articular Corticosteroids
5) Other Drug Types: Disease-Modifying Osteoarthritis Drugs (DMOADs), Platelet-Rich Plasma Therapy, Stem Cell Therapy
What Regions Are Steering Growth in the Osteoarthritis Therapeutics Sector?
North America was the largest region in the osteoarthritis therapeutics market in 2022. The regions covered in the osteoarthritis therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Core Features That Define the Osteoarthritis Therapeutics Market?
Osteoarthritis therapeutics refer to the medical treatments and interventions used to manage and alleviate the symptoms of osteoarthritis, a degenerative joint disease characterized by the breakdown of cartilage and the underlying bone. These therapeutics include medications, physical therapies, lifestyle modifications, and in some cases, surgical procedures. The primary goals of osteoarthritis therapeutics are to reduce pain, improve joint function, and enhance the quality of life for individuals affected by the condition.
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