The global osteoarthritis pain medicine market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The market growth is driven by the increasing prevalence of arthritis and the surge in the number of sports injuries. Among the types of osteoarthritis pain medicines, hand osteoarthritis medicines are likely to see a major boost in the future years owing to the constantly growing cases. The hand is the most frequently affected part of the body by osteoarthritis, which results in excessive pain and inability to properly function of hand or wrist. Osteoarthritis of the hand is most likely to develop in people falling in the age group of 40 to 70. As per the Arthritis Foundation, in the US, nearly 54.4 million adults (22.7% of all adults) had doctor-diagnosed arthritis during the period, 2013-2015. By 2040, an estimated adult aged 18 years and older with doctor-diagnosed arthritis will be 78.4 million (25.9% of the estimated total adult population) in the US. Osteoarthritis is the most common form of arthritis.
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There are various forms of medicines available such as analgesics, that are used for pain treatment. This drug class works by stopping signals in the body that creates pain. Instances of analgesics include Acetaminophen (Tylenol) and Duloxetine (Cymbalta). Acetaminophen (Tylenol) is an over-the-counter (OTC) analgesic that can be administered orally as a tablet, gel capsule, or liquid concentration. Another class of drugs known as nonsteroidal anti-inflammatory drugs (NSAIDs) is also used for the treatment of osteoarthritis pain. Moreover, a rise in healthcare-related spending along with awareness related to osteoarthritis is likely to open up new avenues of growth of the global osteoarthritis pain medicine market during the forecast period.
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Market Coverage
- Segment Covered-
o By Product
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Pfizer Inc., Johnson & Johnson Services, Inc., and GlaxoSmithKline plc, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Osteoarthritis Pain Medicine Market Report by Segment
By Product
- Oral
- Injection
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