Osteoarthritis Therapeutics Market Sets New Record, Projected at USD 15.69 Billion By 2030 at 8.8% CAGR

According to the report published by Allied Market Research, the Global Osteoarthritis Therapeutics Market generated USD 6.75 billion in 2020 and is estimated to reach USD 15.69 billion by 2030, manifesting a CAGR of 8.8% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

COVID-19 scenario:

• Surge in the number of COVID-19 patients and drop in the use of non-steroidal anti-inflammatory drugs and corticosteroids negatively affected the market.
• As per the World Health Organization guideline published in 2019, a systemic corticosteroid can be avoided in patients who are diagnosed with osteoarthritis along with COVID-19. This has contributed to the drop in the global osteoarthritis treatment market.

Key players of the global osteoarthritis therapeutics market analyzed in the research include Bayer AG, Pfizer Inc., Flexion Therapeutics, Inc., Abbott Laboratories, GlaxoSmithKline plc., Johnson & Johnson, Novartis, Horizon Therapeutics plc., Sanofi, and Zimmer Biomet Holding.

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𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐜𝐞𝐧𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐎𝐬𝐭𝐞𝐨𝐚𝐫𝐭𝐡𝐫𝐢𝐭𝐢𝐬 𝐓𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭?

Surge in the prevalence of osteoarthritis, rise in the geriatric population, and the increase in R&D activities for developing new and better drugs propel the market growth. On the other hand, risk associated with the use of non-steroidal anti-inflammatory drugs and cost of drugs used to treat osteoarthritis hinder the market growth. On the contrary, changes in government policies and rise in healthcare expenses across the world create opportunities for the market players.

𝐎𝐬𝐭𝐞𝐨𝐚𝐫𝐭𝐡𝐫𝐢𝐭𝐢𝐬 𝐓𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐜𝐚𝐧 𝐛𝐞 𝐝𝐨𝐧𝐞 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐟𝐚𝐜𝐭𝐨𝐫𝐬, 𝐢𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠:

The report segments the global osteoarthritis therapeutics market on the basis of drug type, anatomy, distribution channel, and region.

Based on the anatomy, the knee osteoarthritis segment accounted for the largest market share in 2020, contributing to more than three-fifths of the total share, and is expected to maintain the lead throughout the forecast period. The same segment is estimated to witness the fastest CAGR of 9.3% from 2021 to 2030. The report also covers other segments such as hip osteoarthritis, hand osteoarthritis, and small joint osteoarthritis.

Based on drug type, the nonsteroidal anti-inflammatory drugs segment contributed to the highest market share in 2020, contributing to nearly three-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the visco supplementation agents segment is expected to manifest the fastest CAGR of 9.7% from 2021–2030.

Based on region, Europe followed by Asia-Pacific and North America, contributed to the highest share in 2020, holding nearly one-third of the total share, and is expected to maintain dominance throughout the forecast period. The Asia-Pacific region is expected to portray the fastest CAGR of 9.1% from 2021-2030.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook 

• North America
  (U.S., Canada, Mexico)
• Europe
  (Germany, France, UK, Italy, Spain, Rest of Europe)
•  Asia-Pacific
  (Japan, China, India, Rest of Asia-Pacific)
• LAMEA
  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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