The Infinium Global Research analyzes the Osteoarthritis Pain Drug Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global osteoarthritis pain drug market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of osteoarthritis pain drug. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the osteoarthritis pain drug market during the period. The global osteoarthritis pain drug market is projected to grow at a CAGR of 7.9% over the forecast period of 2019-2025.
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Osteoarthritis, the most common type of arthritis, is a leading cause of disability. It is a chronic, progressive degenerative joint disease, which is characterized by the gradual destruction of the articular cartilage, hypertrophy of the bone margins, a series of biochemical and morphological changes in the synovial membrane and joint capsule. Currently, there is no cure to stop osteoarthritis pain but to reduce using different treatments or therapies. However, osteoarthritis pain drugs are used to relieve pain. The most commonly used drugs for osteoarthritis are aspirin, ibuprofen, naproxen, and celecoxib. Medicines for osteoarthritis pain are available as pills, syrups, creams, lotions and they are injected into a joint.
Osteoarthritis is growing as a major public health problem worldwide. The rapidly growing aging population is the primary factor for the growth in the number of people affected by osteoarthritis. The prevalence of osteoarthritis increased by 33% among those aged from 60 to 70 years to 43.7% among those over 80 years of age. According to the World Health Organization (WHO) report, Osteoarthritis disease is found more in females rather than males aged over 60 years. Thereby, increasing the demand for osteoarthritis drugs. Furthermore, a rise in R&D expenditure and increased geriatric population are other factors propelling the growth of osteoarthritis pain drugs market. Also, increased awareness regarding degenerative bone diseases in developing countries and a rich pipeline of innovative treatment options are the factors boosting the osteoarthritis pain drugs market.
However, severe side effects associated with certain injectable treatments remain major restraints to the market. The treatment options available in the market fail to provide suitable pain relief in the late stages of osteoarthritis. This led to a larger number of people opting for natural treatments such as yoga, chiropractic, homeopathy, and naturopathy, to treat osteoarthritis. Moreover, several pharmaceutical companies are focusing on the new formulation of the drug for the treatment of osteoarthritis. Many clinical trials and researches are being performed in different phases and new drugs are expected to be launched in the market. This is anticipated to generate favorable opportunities for several manufacturers in the osteoarthritis pain drugs market.
Geographically, North America holds the dominant share in the osteoarthritis pain market. The availability of better treatment options, high awareness among people, government reimbursement policies is a major factor driving the osteoarthritis pain drug market in North America. Osteoarthritis is the most common joint disorder in the United States and affects over 30 million US adults.
The Asia Pacific region holds the second largest market share in the osteoarthritis pain drug market. The Asia Pacific (APAC) region is aging more rapidly than any region. In addition, the old-age support ratio in China is projected to plummet from 7.9 to 2.4 by 2050 that in turn will facilitate demand for osteoarthritis drugs in the Asia Pacific region. Furthermore, Japan is the second-largest market for viscosupplementation products after the U.S. which in turn is anticipated to further boost the market in the Asia Pacific in the near future.
The report on global osteoarthritis pain drug market covers segments such as drug class, route of administration, and distribution channel. On the basis of drug class, the sub-markets include corticosteroids, NSAIDS, viscosupplementation, and others. On the basis of the route of administration, the sub-markets include oral, parenteral, and topical. On the basis of the distribution channel, the sub-markets include hospital pharmacies, retail pharmacies, and online pharmacies.
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The report provides profiles of the companies in the market such as Horizon Pharma plc, Pfizer Inc, Sanofi S.A., Anika Therapeutics, Inc., Ferring B.V., Bioventus, Inc., Chugai Pharmaceutical Co., Limited, Alkem Laboratories, Flexion Therapeutics, Inc., and Zimmer Biomet Holdings, Inc.
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=> Comprehensive analysis of global as well as regional markets of the osteoarthritis pain drug.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.