Global Osteoarthritis Market

Report Summary 

In 2023, the worldwide osteoarthritis market was valued at USD 7.40 billion and is predicted to increase at an 8.5% CAGR during the forecast period 2023-2030. Both the introduction of analgesic drugs and the development of imaging diagnostics based on radiographic characteristics are stimulating market growth. Increased expenditure on healthcare infrastructure and expanding investments in research and development (R&D) efforts to bring novel diagnostics and biomarkers are also driving the market. 

Osteoarthritis (OA) is a group of disorders that affect the joints of the knees, hips, fingers, foot, back, shoulders, and neck. It is distinguished by the gradual degeneration of the cartilage in these joints. Stiffness, edoema, discomfort, persistent pain, loss of flexibility, a grating sensation, bone spurs, and sleep interruptions are all common symptoms of OA. 

Medical examination, X-rays, arthroscopy, joint fluid analysis, lab testing, and magnetic resonance imaging (MRI) scans can all be used to diagnose it. Depending on the outcomes, different medications and surgical techniques are prescribed to treat the disease's signs and symptoms. There are presently alternative medicines, physical therapy, and supporting devices on the market to relieve pain and improve joint function. 

Sedentary lifestyles, poor eating habits, and increasing weight and blood sugar levels make people more susceptible to develop OA. This is one of the primary driving drivers for market development, combined with an ageing population that is more susceptible to such disorders. Furthermore, the ease of access to MRI scans is a key growth-promoting factor. 

The COVID-19 outbreak is predicted to have only a minimal influence on the osteoarthritis therapy industry. Corticosteroids are being used less often in many medicine types. Although there is no evidence that corticosteroid injections significantly increase the risk of infection, the immune system may be less active for a few weeks following surgery. 

Even though the risk is extremely minimal, it should be taken into account before starting with the procedure. It should be noted that the World Health Organisation cautioned against the use of systemic corticosteroids in one of its guidelines for treating severe acute respiratory infections caused by coronavirus. 

Industry Dynamics 

Growth Drivers:  

Increased government investment on cell-based research, as well as the increasing use of opioids, are driving market expansion. Topical, oral, and analgesic medications are commonly used to treat osteoarthritis pain. Even if alternatives such as orthopaedic braces are used as part of a noninvasive approach to pain therapy, the adoption of pain pills for the disease is substantial due to the ease of administration and the cost of pain medications. Oral analgesics such as acetaminophen, NSAIDs, intra-articular medicines, and nutraceuticals are all common pain relievers. 

Personalised OA medications have also been proposed, which would represent a considerable advance in the diagnosis, therapy, and monitoring of disease severity in osteoarthritis patients. Simple measurement, appropriate levels of sensitivity and specificity, and test procedures available to and interpretable by clinicians are critical qualities of indicators of therapeutic relevance for a personalised approach to OA therapy. 

The use of biomarkers to identify individuals who are most likely to respond to specific medical therapies may increase treatment response rates and reduce the risk of exposing patients to medicines that are either unlikely to be effective or may cause harmful side effects from their treatment. Using a mix of unique biomarkers and baseline clinical parameters such as age and gender might be beneficial. 

Report Segmentation 

The market is primarily segmented based on treatment type, disease type, distribution channel, route of administration, and region. 

Knee Osteoarthritis segment is expected to witness fastest growth 

Personalised OA medications have also been proposed, which would represent a considerable advance in the diagnosis, therapy, and monitoring of disease severity in osteoarthritis patients. Simple measurement, appropriate levels of sensitivity and specificity, and test procedures available to and interpretable by clinicians are critical qualities of indicators of therapeutic relevance for a personalised approach to OA therapy. 

Furthermore, increased FDA approvals for the treatment of Knee OA are driving sector growth throughout the projection period. For example, Novartis announced in September 2021 that LNA043 had been granted fast-track designation by the US Food and Drug Administration (FDA) for knee osteoarthritis rehabilitation. 

Drugs targeted to treat severe diseases and address unmet medical needs can be created more swiftly and evaluated more quickly. LNA043, a possibly first-in-class disease-modifying treatment for osteoarthritis, is being developed. As a result, growing approvals for the treatment of knee OA drive market development throughout the projection period. 

Viscosupplementation segment industry accounted for the highest market share in 2021 

The rising prevalence of knee osteoarthritis is the key driver of this market's expansion. By injecting synovial fluid into the afflicted joints, which increases lubrication, viscosupplementation greatly lowers osteoarthritis discomfort. Furthermore, the market for viscosupplementation agents is expected to grow considerably over the forecast period due to the discovery of novel viscosupplementation agents and government efforts to boost research in the healthcare sector. 

Hospital Pharmacies are expected to hold the significant revenue share 

Hospital pharmacies retained the largest share of this market due to the large number of patients seeking treatment for osteoarthritis in hospitals and the vast assortment of osteoarthritis drugs available in these pharmacies. Another important advantage is the ease with which hospital pharmacy purchases may be reimbursed. 

The demand in North America is expected to witness significant growth 

A rise in the frequency of chronic diseases, an increase in the number of elderly people, and changes in people's lifestyles all contribute to the anticipation of market expansion in North America. As a result, the region is incorporating an increasing number of treatments and drugs. When compared to Canada and Mexico, the United States will command a substantial share of the North American market for osteoarthritis therapies. 

According to the CDC, osteoarthritis (OA), the most common kind of arthritis, is a severe chronic illness that affects 32.5 million individuals in the United States. OA is associated with ageing and is more common in those with other chronic conditions such as obesity, diabetes, and heart disease. However, 18.7 million people with OA, or more than half of them, are of working age (18 to 64 years). 

Furthermore, the availability of better treatment alternatives, government reimbursement guidelines, increased research and development activities in the creation of novel medicines, and the introduction of new therapies in the North American region are all expected to support market expansion in the region. 

Europe controlled the market for osteoarthritis therapies. The increased incidence of osteoarthritis, the ageing population, rising obesity rates in several European countries, and the growing number of sports- and accident-related injuries all contribute to this sector's large market share. 

Competitive Insight 

Some of the major players operating in the global market include ABIOGEN PHARMA S.p.A, Assertio Therapeutics, Inc., Abbott Laboratories Incorporation, Apotex Inc., Ampio Pharmaceuticals Inc., Bayer AG, Eli Lilly and Company, Horizon Therapeutics plc, Johnson & Johnson, Merck Sharp & Dohme Corp., Mylan N.V., Novartis AG, Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi SA, Tolmar Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., and Zimmer Biomet Holding. 

Recent Developments 

Moebius Medical stated in February 2021 that the MM-II, a cutting-edge alternative for the treatment of knee osteoarthritis symptoms, is conducting a Phase IIb clinical research. The purpose of this study is to assess the efficacy and safety of different dosages of MM-II with placebo in subjects having symptoms of knee OA. 

What is Osteoarthritis Market Report about

This report discusses the commercial and clinical activity, providing insights on the total size of the potential opportunity, key segments driving growth, key challenges faced, and a thorough analysis of market competition by product, geography, indication, and forecasts through 2030. Detailed coverage of the approved therapies, including regulatory approvals, pricing, reimbursement, and market penetration. 

So, a new investor can potentially gain information about competitors, their key products, their core strategy, key trends in the market, and more. 

This report is essential for all stakeholders including research companies, manufacturing companies, distribution companies, government agencies, and others to: 

• Capitalize on rapidly emerging trends. 

• Optimize decision-making. 

• Reduce company risk. 

• Approach partners/investors for collaboration or funding. 

• Implement an informed and advantageous business strategy in 2023. 

• Detailed coverage of the approved products, including regulatory approvals, pricing, reimbursement, and market penetration. 

• Profiles of leading & upcoming competitors composing the global marketplace.