Transparency Market Research
Osteoarthritis is the most common type of arthritis. It is a degenerative joint disease that occurs when cartilage between joints break, leading to pain, swelling, and stiffness. It primarily affects joints, but also occurs in knees, lower back, hips, and neck, small joints of the fingers, and the bases of the thumb and big toe. It is a chronic disorder that worsens with time and bones may break and develop growths called spurs. Through this inflammatory process is triggered in the body which leads to more damage to bones and cartilage. Most common symptoms include joint stiffness and discomfort, if left untreated leads, eventually lose some or almost all range of motion. It primarily affects the elderly population and is more common in women as compared to men. People suffering from nutritional deficiency, obesity, metabolic syndrome, or joint deformity such as bowlegs and knocked knees are at increased risk of developing osteoarthritis. Other risk factors include smoking, traumatic injury, hereditary, and changing lifestyle.
The global osteoarthritis drugs market can be segmented based on treatment, route of administration, distribution channel, and region. In terms of treatment, the osteoarthritis drugs market can be classified into non-steroidal anti-inflammatory drugs, corticosteroids, analgesics, opioids, and others. Based on route of administration, the global osteoarthritis drugs market can be categorized into oral, topical, and others. In terms of distribution channel, the osteoarthritis drugs market can be divided into online pharmacies, retail pharmacies, and hospital pharmacies. The hospital pharmacies segment is expected to account for significant share of the osteoarthritis drugs market due increase in number of hospital visits. The online pharmacies segment is expected to expand at a high CAGR during the forecast period due to increase in the number of Internet users and ease of use. Rise in incidence and prevalence of osteoarthritis, increase in research and development expenditure, surge in awareness among people, increase in the geriatric population, and rise in the number of traumatic injuries contribute to the growth of the global osteoarthritis drugs market. Furthermore, strong ongoing clinical pipeline such as development of anti-nerve growth factor therapy for the treatment of osteoarthritis is expected to create lucrative opportunities in the global osteoarthritis drugs market during the forecast period. However, unmet clinical needs of current treatment options and disappointing results of promising pipeline molecules hamper the growth of the global osteoarthritis drugs market.
The global osteoarthritis drugs market can be segmented into five major regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is anticipated to dominate the global osteoarthritis drugs market, followed by Europe. High incidence of osteoarthritis, increase in the geriatric population, surge in awareness among people, increase in research and development expenditure, strong clinical pipeline, and well-established health care infrastructure fuel the growth of the osteoarthritis drugs market in North America. The market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period, driven by high patient base, increased government initiatives, and developing health care infrastructure in India and China. The market in Latin America and Middle East & Africa is anticipated to grow at a rapid pace during the forecast period, owing to increase in investments by companies in these regions and rise in prevalence of osteoarthritis.
Leading players in the global osteoarthritis drugs market include AbbVie, Pfizer, Inc., Johnson & Johnson, Inc., Novartis AG, and Eli Lilly and Company.
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