Market
Overview
The
global osteoarthritis market share is projected to reach a exhibiting a CAGR of
approximately 9.1% over the forecast period of 2023-2032, proclaims Market
Research Future (MRFR) in a minutely analyzed research report. The market is
growing persistently on account of the growing global geriatric population as
it accounts for more disability among the elderly population than any other
disease. Elderly patients have been reported to experience radiographic
osteoarthritis which increases as patients age. Rising populace of obesity is
also considered to be the driving factor in the growth of the global osteoarthritis
market since obesity has also been identified
as a risk factor for osteoarthritis. Obesity reduces the
skeletal-weight-to-body-mass which results in compressive forces to joints.
Although the treatment market for osteoarthritis is not robust, increased
prevalence of the disease has resulted in increased R&D activities which are expected to bring new treatment options to
the market. Moreover, raising awareness
about the disease may induce demand for medications and boost market growth.
Low access to healthcare and the side
effects of the treatment procedures are the most significant hurdles to the
growth of the global osteoarthritis market research. Stem cells treatments have
been demonstrated as a possible treatment for osteoarthritis which is
expected to provide growth opportunities to the global
osteoarthritis
market report.
Competitive Landscape
The global osteoarthritis market players include
ü Regeneron (U.S.),
ü Novartis AG (Europe),
ü TissueGene Inc. (U.S.),
ü Eli Lilly and Company. (U.S.),
ü Pfizer Inc. (U.S.),
ü Abbott. (U.S.),
ü Ampio Pharmaceuticals Inc. (U.S.),
ü ABIOGEN PHARMA S.p.A (Europe), and
ü
Merck
Sharp & Dohme Corp. (U.S.).
Segmentation
The
global osteoarthritis market outlook has been segmented based on type,
diagnosis, treatment, and end users. By type,
the osteoarthritis market has been segmented
into hip osteoarthritis, wrist osteoarthritis, spinal osteoarthritis, and
others.
·
By diagnosis, the
osteoarthritis market trends has been segmented
into imaging, joint fluid analysis, and others. The imaging segment, is sub-segmented
into X-rays, magnetic resonance imaging (MRI), and others.
·
By treatment, the
osteoarthritis has been segmented into
medication, surgery, therapy, and others. The medication segment has been further segmented into analgesics and
non-steroidal anti-inflammatory drugs, and others. The analgesic sub-segment
has been further segmented into
acetaminophen, duloxetine, and others. The non-steroidal anti-inflammatory
drugs sub-segment has been further segmented
into aspirin, ibuprofen, naproxen sodium and naproxen, and others.
·
By end users, the
osteoarthritis segment has been hospitals & clinics, medical institutes,
research organization, and others.
Regional Analysis
The
global osteoarthritis
market overview spans across the
regions of the Americas, Europe, Asia Pacific, and the Middle East &
Africa. The Americas hold the dominant position in the global osteoarthritis
market. A robust healthcare sector, huge osteoarthritis patient pool, and high
healthcare expenditure support the growth of the Americas market.
Europe
has commanded the second position in the global osteoarthritis market.
Availability of funds for research and development activities coupled with
government support, high healthcare expenditure and growing prevalence of
osteoarthritis in the region propels the growth of the Europe market.
Asia Pacific follows
Europe in the global osteoarthritis market. The presence of a huge patient population, rising healthcare
investments in the developing economies, and the untapped markets of the region
provide a lucrative opportunity for
market expansion. Moreover, favorable government
policies aid market growth and will help Asia
Pacific to emerge as the fastest growing
market for osteoarthritis.
The Middle East & Africa holds the least share in the
global osteoarthritis market. Poor economic
condition and low penetration of healthcare limit the growth of the market, especially in the Africa region and the majority
of the market share is held by the Middle East market. The healthcare
sector is well-developed in the Gulf countries which helps the Middle East
market progress.
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