What is the global market size of Osteoarthritis Treatment Market?

Osteoarthritis Treatment Market size was valued at USD 7.4 billion in 2021 and is poised to grow from USD 8.03 billion in 2022 to USD 15.42 billion by 2030, growing at a CAGR of 8.5% during the forecast period (2023-2030).

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 News

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 Market Report Snapshots

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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 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. '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)'

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.

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.

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.

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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

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Osteoarthritis Treatment Market Report Snapshots

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