(PharmaNewsWire.Com, January 18, 2021 ) Major Growth Influencing Factors:
The growth of Osteoarthritis Therapeutics Market is driven by significant adoption of pain medications, increasing prevalence of osteoarthritis, growing population susceptible to osteoarthritis, and rising number of sports injuries.
“Knee osteoarthritis therapeutics is expected to hold the largest share of the osteoarthritis therapeutics market, by anatomy in 2020.”
Based on anatomy, the market is segmented into knee, hip, hand, and small-joint osteoarthritis therapeutics. Knee osteoarthritis therapeutics is the largest and the fastest-growing segment in this market. This can primarily be attributed to the high incidence of knee osteoarthritis.
“Viscosupplementation agents is expected to hold the largest share of the osteoarthritis therapeutics market, in 2020.”
Based on drug type, the market is classified as, viscosupplementation agents, nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, and corticosteroids. The analgesics segment is subsegmented into duloxetine and acetaminophen, while the NSAIDs segment is subsegmented into naproxen, aspirin, diclofenac, ibuprofen, and other NSAIDs. The viscosupplementation agents segment accounted for the largest share of the osteoarthritis therapeutics market in 2019. The rising incidence of knee osteoarthritis is the major factor driving the growth of this segment. Viscosupplementation effectively eases the pain of osteoarthritis through injections that fill up the joint’s synovial fluid, thus offering better lubrication of the joints.
“Parental route is expected to hold the largest share of the osteoarthritis therapeutics market in 2020.”
On the basis of route of administration, the osteoarthritis therapeutics market has been segmented into oral, topical, and parenteral routes. The parenteral route accounted for the largest share of this market in 2019 and is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the wide adoption of the parenteral route for administering osteoarthritis therapeutics owing to the ease of administration and the better pharmacokinetics and pharmacodynamics, resulting in better patient compliance.
“Hospital pharmacies segment commanded the largest share of the osteoarthritis therapeutics market in 2020.”
Based on the distribution channel, the osteoarthritis therapeutics market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies. In 2019, hospital pharmacies accounted for the largest share of this market because of the high volume of patients visiting hospitals for osteoarthritis treatments and the wide range of osteoarthritis therapeutics available in these pharmacies. Reimbursements can also be claimed easily on hospital pharmacy purchases, which is another important draw.
“Prescription drugs segment commanded the largest share of the osteoarthritis therapeutics market in 2020.”
Based on the purchasing pattern, the osteoarthritis therapeutics market is segmented into OTC and prescription drugs. In 2019, the prescription drugs segment accounted for a larger share of this market as most osteoarthritis therapeutics (viscosupplementation agents and corticosteroids) are only available on prescription.
“Europe commanded the largest share of the osteoarthritis therapeutics market in 2020.”
On the basis of region, the osteoarthritis therapeutics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, Europe commanded the largest share of the osteoarthritis therapeutics market. The large share of this market segment can be attributed to the rising incidence of osteoarthritis, rising geriatric population, and increasing obesity rates in several European countries, coupled with the rising number of injuries due to sports and road accidents.
Global Leaders:
The major players operating in this market are Sanofi (France), Horizon Therapeutics PLC (Ireland), Johnson & Johnson (US), GlaxoSmithKline PLC (UK), Bayer AG (Germany), Abbott (US), Pfizer, Inc. (US), Eli Lilly (US), Anika Therapeutics, Inc. (US), Novartis AG (Switzerland), Ferring Pharmaceuticals (Switzerland), Bioventus (US), Zimmer Biomet Holdings, Inc. (US), Fidia Farmaceutici s.p.a. (Italy), Flexion Therapeutics, Inc. (US), Pharmed Limited (India), Virchow Biotech (India), Kitov Pharmaceuticals Ltd. (Israel), Assertio Therapeutics, Inc. (US), Atnahs (UK), Almatica Pharma LLC (US), OrthogenRx (US), LABRHA (France), Hanmi Pharm. Co., Ltd. (Korea), and Laboratorio Reig Jofre (Spain).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
