USD 7.4 billion
Osteoarthritis Treatment Market Size, Share, Growth Analysis, By Type(Medication, Physical Therapy and Surgical Procedures), By Application(Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, Spine Osteoarthritis), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2305 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Osteoarthritis Treatment Market Insights
Osteoarthritis Treatment Market size was valued at USD 8.03 billion in 2022 and is poised to grow from USD 8.71 billion in 2023 to USD 16.73 billion by 2031, growing at a CAGR of 8.50% during the forecast period (2024-2031).
The global osteoarthritis treatment market has witnessed significant growth in recent years, driven by the rising prevalence of osteoarthritis, an aging population, and the increasing demand for effective treatment options. With advancements in healthcare and improved life expectancy, the proportion of elderly individuals susceptible to osteoarthritis has risen significantly. As a result, there is a growing need for innovative and efficient treatment options to manage the symptoms and improve the quality of life for these patients. Moreover, the rising awareness about the available treatment options and the importance of early intervention has further propelled the market growth. Healthcare providers and organizations are actively engaged in educating patients about osteoarthritis, its risk factors, and the various treatment modalities available. This increased awareness has led to early diagnosis and timely treatment initiation, driving the demand for osteoarthritis treatment products.
US Osteoarthritis Treatment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Medications
Fastest Growth
Medications
Growth Rate
8.5% CAGR
Global Osteoarthritis Treatment Market By Country ($ Bn)
Country Share for North America Region (%)
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Osteoarthritis Treatment Market Segmental Analysis
Global Osteoarthritis Treatment Market is segmented by type, application, and region. Based on type, the market can be segmented into Medications, Physical Therapy and Surgical Procedures. Based on application, the market is segmented into Knee Osteoarthritis, Hip Osteoarthritis, Hand Osteoarthritis, Spine Osteoarthritis, Shoulder Osteoarthritis and Foot and Ankle Osteoarthritis. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Osteoarthritis Treatment Market Analysis by Type
In the global osteoarthritis treatment market, among the three types, medications, physical therapy, and surgical procedures, the most dominant type is medications. Medications play a crucial role in managing the symptoms of osteoarthritis and are widely prescribed by healthcare professionals. These medications include nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, corticosteroids, and hyaluronic acid injections. They help alleviate pain, reduce inflammation, and improve joint function for individuals with osteoarthritis.
On the other hand, the fastest-growing type in the global osteoarthritis treatment market is physical therapy. Physical therapy involves the use of specific exercises, stretches, and techniques to improve joint mobility, strengthen muscles, and reduce pain in individuals with osteoarthritis. Physical therapy aims to enhance the overall function and quality of life for patients by promoting joint stability, increasing range of motion, and improving flexibility. It is a non-invasive approach that is gaining traction due to its effectiveness and potential long-term benefits.
Osteoarthritis Treatment Market Analysis by Application
In the global osteoarthritis treatment market, among the various types of osteoarthritis, knee osteoarthritis emerges as the most dominant type. Knee osteoarthritis is characterized by the degeneration of the knee joint cartilage, leading to pain, stiffness, and reduced mobility. It affects a significant portion of the population, particularly older individuals, and is a common cause of disability worldwide. The prevalence of knee osteoarthritis and the associated demand for effective treatment options contribute to its dominance in the global market.
As for the fastest-growing type in the global osteoarthritis treatment market, hand osteoarthritis demonstrates notable growth potential. Hand osteoarthritis affects the joints of the hands, including the fingers and thumb, leading to pain, swelling, and reduced grip strength. While it may not receive as much attention as knee osteoarthritis, the incidence of hand osteoarthritis is increasing, primarily driven by aging populations and lifestyle factors. With the growing awareness of hand osteoarthritis and the need for targeted treatment options, the market for hand osteoarthritis treatments is expected to witness rapid growth.
Global Osteoarthritis Treatment Market By Type
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Osteoarthritis Treatment Market Regional Insights
North America dominated the global Osteoarthritis Treatment market. North America has a significant presence in the market due to several factors, including the high prevalence of osteoarthritis in the region, well-established healthcare infrastructure, and advanced research and development activities. Countries like the US and Canada have a large patient pool and robust healthcare systems that support the diagnosis and treatment of osteoarthritis. Additionally, the region is home to major pharmaceutical companies and biotechnology firms engaged in the development of innovative osteoarthritis treatments.
On the other hand, the fastest-growing region in the global Osteoarthritis Treatment market is Asia-Pacific. The Asia-Pacific region is witnessing rapid growth due to factors such as a large aging population, changing lifestyles, and increasing awareness about osteoarthritis. Countries like China, India, and Japan have a substantial number of osteoarthritis patients, primarily attributed to the aging population and the rising prevalence of obesity. Furthermore, improving healthcare infrastructure, increasing disposable income, and a focus on research and development activities in the region are contributing to the growth of the Osteoarthritis Treatment market in Asia-Pacific.
Global Osteoarthritis Treatment Market By Geography
- Largest
- Fastest
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Osteoarthritis Treatment Market Dynamics
Osteoarthritis Treatment Market Drivers
Rising Obesity Rates
- The escalating global rates of obesity contribute significantly to the increased occurrence of osteoarthritis. As obesity continues to rise worldwide, there is a growing prevalence of osteoarthritis cases. This surge in cases drives the demand for treatment options as obese individuals often require comprehensive approaches to manage their condition effectively.
Osteoarthritis Treatment Market Restraints
Lack of Disease-Modifying Therapies
- The absence of disease-modifying therapies remains a significant challenge in the field of osteoarthritis treatment. Despite notable advancements, there is still a lack of effective therapies capable of slowing down or reversing the progression of osteoarthritis. This limitation impedes the overall management of the disease and negatively impacts treatment outcomes for patients.
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Osteoarthritis Treatment Market Competitive Landscape
The global osteoarthritis treatment market is highly competitive and characterized by the presence of numerous players offering a wide range of treatment options. Osteoarthritis is a degenerative joint disease that affects a large population worldwide, leading to pain, stiffness, and reduced mobility. As a result, there is a significant demand for effective treatment options to manage the symptoms and improve the quality of life for patients.
Osteoarthritis Treatment Market Top Player’s Company Profiles
- Pfizer Inc. (US)
- Johnson & Johnson Services, Inc. (US)
- GlaxoSmithKline plc (UK)
- Novartis International AG (Switzerland)
- AbbVie Inc. (US)
- Sanofi (France)
- Eli Lilly and Company (US)
- Merck & Co., Inc. (US)
- Bayer AG (Germany)
- Bristol Myers Squibb Company (US)
- Ferring Pharmaceuticals (Switzerland)
- Boehringer Ingelheim International GmbH (Germany)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Flexion Therapeutics, Inc. (US)
- Bioventus LLC (US)
- Zimmer Biomet Holdings, Inc. (US)
- Stryker Corporation (US)
- Medtronic plc (Ireland)
- Smith & Nephew plc (UK)
- DJO Global, Inc. (US)
Osteoarthritis Treatment Market Recent Developments
- In December 2023, Johnson & Johnson announced the launch of a new osteoarthritis treatment drug, Tremfya. Tremfya is a biologic drug that targets the immune system and is designed to slow the progression of osteoarthritis.
- In December 2023, Novartis announced the acquisition of CartiHeal, a company that develops cartilage regeneration products for the treatment of osteoarthritis. This acquisition will help Novartis to expand its product portfolio in the osteoarthritis treatment market.
- In November 2023, Pfizer announced the approval of a new osteoarthritis treatment drug, Xeljanz. Xeljanz is a biologic drug that targets the immune system and is designed to reduce pain and inflammation in people with osteoarthritis.
- In October 2023, Sanofi announced the launch of a new osteoarthritis treatment device, Cartiva. Cartiva is a minimally invasive device that is designed to repair damaged cartilage in the knee.
- In September 2023, Zimmer Biomet announced the launch of a new osteoarthritis treatment surgery, the Zimmer Biomet Genesis Total Knee Replacement. The Zimmer Biomet Genesis Total Knee Replacement is designed to provide patients with long-lasting pain relief and improved function.
Osteoarthritis Treatment Key Market Trends
- A key market trend in the global Osteoarthritis Treatment market is the growing emphasis on personalized and multimodal approaches to manage the condition. Osteoarthritis is a degenerative joint disease that affects a significant portion of the global population, particularly the elderly. Traditionally, treatment approaches have focused on pain management and symptom relief through nonsteroidal anti-inflammatory drugs (NSAIDs) and analgesics. However, there is an increasing recognition that a one-size-fits-all approach may not be effective for all patients.
Osteoarthritis Treatment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the Global Osteoarthritis Treatment Market analysis, the increasing prevalence of osteoarthritis, a degenerative joint disease that affects millions of people worldwide. It emphasizes the need for effective treatment options to manage pain, reduce disability, and improve the quality of life for patients. The market analysis explores the market size, revenue projections, and growth rates for the forecast period, providing a clear understanding of the market's potential.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.03 billion |
| Market size value in 2031 | USD 16.73 billion |
| Growth Rate | 8.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Osteoarthritis Treatment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Osteoarthritis Treatment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Osteoarthritis Treatment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Osteoarthritis Treatment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Osteoarthritis Treatment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Osteoarthritis Treatment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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