Osteoarthritis Therapeutics Market would grow upto USD 13.35 million by 2029

An all-inclusive Osteoarthritis Therapeutics Market research report is a valuable tool for examining a brand’s current positioning and assessing brand recall value. It opens the door to exploring possibilities for brand extension or changing existing brand names. Market reports are instrumental in developing techniques for popularizing and maintaining brand loyalty. Through market research, new products can be tested on a small scale in one or two markets. Market data allows for the assessment of consumer response to new products, which can then inform the development of a suitable marketing mix. The finest Osteoarthritis Therapeutics Market report offers insights into customer concerns regarding new products, helping to manage the risks associated with their introduction.

The global joint disorders market is expected to witness significant growth during the forecast period. Osteoarthritis is more frequent in the aged population and those who are overweight. Both men and women are affected by the disease. Several advancements are made in diagnostic methods such as imaging joint fluid analysis and many such techniques.

Data Bridge Market Research analyses a growth rate in the global osteoarthritis therapeutics market in the forecast period 2022-2029. The expected CAGR of global osteoarthritis therapeutics market is tend to be around 9% in the mentioned forecast period. The market was valued at USD 6.70 million in 2021, and it would grow upto USD 13.35 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Osteoarthritis is chronic bone disorder associated with the inflammation of the joint cartilage breakdown of the surrounding bone. It is most common joint disease primarily affecting the joints of the hands, knees, hips and spine. The signs and symptoms are stiffness, pain, tenderness and swelling of the joints. This condition generally leads to swelling, tenderness, persistent pain, stiffness, loss of flexibility, grating sensation, bone spurs and sleep disturbances. It can be diagnosed using X-ray, arthroscopy, physical examination, joint fluid analysis, blood tests and magnetic resonance imaging (MRI) scan.

Drivers

• High Prevalence of Osteoarthritis

Its been witnessed that more than 350 million people have arthritis all over the globe. In the U.S., 1 in 4 adults have been reported with arthritis in 2020. It’s estimated to be 78 million by the year 2040. As per the statistics published by National Public Health Agenda for Osteoarthritis 2020, osteoarthritis affects around 1 in 7 U.S. adults that is 32.5 million people. This boosts the market growth.

• Increasing Demand of NSAIDs

Both over-the-counter and prescribed NSAIDs are frequently used to relieve pain in osteoarthritis patients. According to the National Center for Biotechnology Information in 2019, NSAIDs are prescribed to all osteoarthritis patients in the U.S. Likewise, in Europe, NSAIDs were prescribed to almost 60% of all osteoarthritis patients (47%) who took prescription medications. The wide use of nonsteroidal anti-inflammatory drugs (NSAIDs) has been associated with increased risk of cardiovascular events. Thus, this increasing demand is boosting the growth of the market.

Opportunities

• Increase in Elderly Population

Osteoarthritis is associated with aging and is more common among people with other comorbidities such as heart disease, obesity, and diabetes. Life expectancy is growing around the world, which has led to an increase in the aging population. This trend positively impacts the industry by increasing the incidence of the disease and creating per capita demand for its remedies. Thus, this aging population demands high therapeutics usage, which boost the market’s growth.

• Growing Adoption of Viscosupplementation

Viscosupplementation is an effective local osteoarthritis treatment. With the growing occurrence of osteoarthritis and the high use of these agents for pain relief, the market is set to flourish. Moreover,  this procedure relieves stiffness and inflammation in the bones. Other segments such as analgesics are also projected to show a substantial rise in the forecast period due to factors such as these drugs are safe and simple. For surgical patients, they offer significant benefits over centrally acting opioid analgesics and central neuraxins blockade.

Restraints/Challenges

• Lack of skilled professionals

The lack of qualified personnel who are unable to perform the treatments could curb the growth of the global osteoarthritis therapeutics market over a forecast period.

• High Cost

The huge expenditure required for treatment process in terms of different antibiotics and surgery hamper the market growth.

This global osteoarthritis therapeutics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global osteoarthritis therapeutics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

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Key players operating in the global osteoarthritis therapeutics market include:

• Pfizer Inc. (U.S.)
• Abbvie Inc. (U.S.)
• Novartis AG (Switzerland)
• Amgen Inc. (U.S.)
• Boehringer Ingelheim International GmbH. (Germany)
• Samsung Bioepis. (South Korea)
• Merck & Co Inc. (U.S.)
• Sun Pharmaceutical Industries Ltd. (India)
• Teva Pharmaceuticals Industries Ltd. (Israel)
• AstraZeneca PLC (U.K.)
• Zimmer Biomet (U.S.)
• Stryker Corporation (U.S.)

Osteoarthritis Therapeutics Market Scope

The global osteoarthritis therapeutics market is segmented on the basis of type, treatment type, route of administration, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Hip Osteoarthritis
• Spinal Osteoarthritis
• Others

Treatment Type

• Medication
• Surgery
• Therapy

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Others

Key Advantages of the Report: 

• This study provides an analytical overview of the industry, including current trends and future predictions to identify potential investment opportunities.
• The report offers insights into key drivers, limitations, and prospects, along with a comprehensive market share analysis.
• The report quantitatively assesses the current market, shedding light on its growth prospects.
• A Porter’s five forces analysis gauges the bargaining power of buyers and suppliers in the market.
• The report delivers an in-depth market analysis that considers competitive dynamics and forecasts the future competitive landscape.

 For the detailed report, which encompasses the full table of contents, tables, figures, graphs, and charts, please follow this link:  https://www.databridgemarketresearch.com/toc/?dbmr=global-osteoarthritis-therapeutics-market&Shri

What to Anticipate from the Report – A 7-Point Guide:

• The report delves into the holistic strategy and innovation within the market ecosystem.
• It highlights prominent market drivers and obstacles, providing clarity on technological standardization and regulatory frameworks.
• The report evaluates various implementation models and examines numerous use cases.
• Serving as a valuable resource, the report offers essential industry insights, showcasing information on new investments, stakeholders, relevant contributors, and market participants.
• Through the forecast period, the report conducts a thorough market analysis, referencing historical developments, ongoing events, and future growth prospects.

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