The global osteoarthritis drugs market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). Osteoarthritis is defined as a progressive degenerative disease of joints, caused due to breakdown and eventual loss of the cartilage of one or more joints. Pain relievers such as oral analgesics (acetaminophen and NSAIDs such as ibuprofen, naproxen, tramadol, opiates, and duloxetine), topical agents (such as capsaicin and topical NSAIDs), intra-articular agents (such as corticosteroids and hyaluronic acid), and nutraceuticals (glucosamine and chondroitin) are the widely used medication alternatives.
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The market growth is majorly attributed owing to the growing geriatric population that is prone to osteoarthritis. Further, the growing awareness about health is also projected to offer growth opportunities for the market during the forecast period. OTC and prescription NSAIDs are extensively used to relieve pain in osteoarthritis patients. According to a study published by the National Center for Biotechnology Information (NCBI) in 2019, more than 50% of osteoarthritis patients in the US were prescribed NSAIDs. Such a considerable target population consuming these drugs is anticipated to offer growth opportunities for the market.
Some key players operating in the market include Sanofi S.A., GlaxoSmithKline plc, and Pfizer Inc., among others. These players are focusing on strengthening their position in the market by adopting various strategies such as mergers and acquisitions, partnerships, collaborations, new product launches and development in the existing product portfolio, and so on. Further, the rising R&D activities related to drug development coupled with the growth in the funding from private as well as government organizations and research centers, and the growing cell-based research activities are the key trends observed in the market. For instance, in 2018, the Journal of Stem cells International announced a new approach for the treatment of osteoarthritis by mesenchyme stem cell therapy.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered
· Regions Covered- Globally
· Competitive Landscape: Sanofi S.A., GlaxoSmithKline plc, and Pfizer Inc., among others.
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Global Osteoarthritis Drugs Market Report by Segment
By Drugs
• Corticosteroids
• Non-Steroidal Anti-Inflammatory Drugs
• Hyaluronic Acid Injection
• Others
By Anatomy
• Ankle
• Hip
• Knee
• Shoulder
• Others
Global Osteoarthritis Drugs Market by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
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