Transparency Market Research
The prominent factor contributing to the growth of the knee osteoarthritis is the rising prevalence of the condition among the general population observed across the globe. According to the Global Burden of Disease Study, in 2010, knee osteoarthritis accounted for 80% of the total osteoarthritis burden. Osteoarthritis is a common joint disease and a major cause of disability and chronic pain in the U.S and other developed countries. According to the data provided by the U.S. Centers for Disease Control and Prevention (CDC) in 2015, an estimated 15 million people reported of severe joint pain. with knee joint pain being the most prominent condition. The number of cases are expected to increase further in the next few years. This, in turn, is expected to drive the demand for therapies and medications used in the treatment of this condition.
Surge in geriatric population is expected to drive the knee osteoarthritis treatment market during the forecast period. Severity and incidence of knee joint pain caused due osteoarthritis increases with age. According to United Nations’ World Population Ageing report, the number of people above the age of 60 years stood at 962 million in 2017, which is projected to reach 2.1 billion by 2050. Rise in geriatric population is anticipated to increase the number of individuals suffering from knee osteoarthritis, which is expected to drive the demand for medications & therapies used to manage these conditions.
Pharmaceutical companies launching new products launches to provide improved treatment options to people suffering from knee osteoarthritis. In March 2018, Bioventus, a leading global provider of orthobiologic solutions launched DUROLANE, a hyaluronic acid (HA) single-injection product deployed for joint lubrication. It is used in the management of pain caused due to knee osteoarthritis in the U.S. DUROLANE joins the company existing knee osteoarthritis products GELSYN-3, a three-injection HA product launched in 2016 and SUPARTZ FX, a five-injection HA launched in 2015. In May 2016, Anika Therapeutics, Inc., an integrated orthopedics medicines company launched CINGAL, the company’s 3rd generation viscosupplement in Canada to treat pain caused due to knee osteoarthritis. The launch of new and effective treatment options for managing this condition is likely to boost the knee osteoarthritis treatment market during the forecast period from 2018 to 2026.
The global knee osteoarthritis treatment market can be segmented based on treatment type, end-user, and region. In terms of treatment type, the knee osteoarthritis treatment market can be classified into non-surgical treatment and surgical treatment. The non-surgical treatment segment is divided into drugs, alternate therapies, and others. Based on end-user, the knee osteoarthritis treatment market can be divided into hospitals, ambulatory surgical centers, and specialty clinics.
In terms of region, the global knee osteoarthritis treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market due to the launch of new treatment options in the region. The market in Asia Pacific is projected to expand during the forecast owing to the increase in geriatric population in the region.
Key players operating in the global knee osteoarthritis treatment market include Bioventus, AVM Biotechnology, Anika Therapeutics, Inc, Flexion Therapeutics, and OrthoTrophix, Inc.
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