Technavio analyzes that the Osteoarthritis Therapeutics Market is expected to grow at a CAGR of 9.49% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4573.6 million.There are various factors that contribute to the growth of the market. Osteoarthritis, a degenerative joint disease characterized by cartilage loss and bone hypertrophy, is experiencing a significant rise in prevalence due to aging populations and sedentary lifestyles. This increasing incidence is driving the demand for effective therapeutic interventions, leading to substantial growth in the global osteoarthritis therapeutics market. Innovative treatments, such as disease-modifying osteoarthritis drugs and biologics, are gaining popularity for their potential to slow disease progression and alleviate symptoms. Additionally, the market is witnessing a surge in demand for non-surgical options, such as physical therapy and nutraceuticals, to manage pain and improve joint function. Overall, the osteoarthritis therapeutics market is expected to expand at a robust pace in the coming years, driven by the rising burden of the disease and the unmet medical need for effective treatments.
The analgesic and Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) segment is projected to experience significant growth in the Osteoarthritis Therapeutics Market during the forecast period. Osteoarthritis, characterized by chronic joint pain due to wear and tear, necessitates treatment focused on alleviating the primary symptom. Acetaminophen and NSAIDs, including Aspirin and Celecoxib, are commonly prescribed for pain management in osteoarthritis patients. NSAIDs offer additional anti-inflammatory benefits, contributing to their increasing demand. Traditional non-selective NSAIDs like ibuprofen and Naproxen, however, carry side effects such as gastric ulcers, bleeding, and renal insufficiency. Hospital pharmacies remain key distribution channels for these essential therapeutics.
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Osteoarthritis Therapeutics Market Segmentation
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The Osteoarthritis (OA) Therapeutics Market encompasses various treatments for chronic pain, including pain medications like oral analgesics and topical agents, as well as noninvasive approaches such as orthopedic braces. Novel therapeutics like Sprifermin and fibroblast growth factors are under investigation through clinical trials and preclinical research. Data and additional tables provide insights into purchasing patterns and the role of personalized medicines in managing OA. Lupin Limited offers hyaluronic acid products as intra-articular agents, while cardiovascular events are a concern with some pain relievers. The OA Action Alliance advocates for improved treatments and patient care. Pharmacological methods and nutraceuticals are also utilized in the management of OA.
The Osteoarthritis Therapeutics Market encompasses businesses specializing in the research and development (R&D) or manufacturing of pharmaceuticals, including both generic and non-generic drugs, as well as veterinary drugs. According to Technavio, the global pharmaceuticals market's size is determined by the consolidated revenue generated by providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Factors driving the expansion of this market include the increasing global population aging, with approximately one-quarter of the US population projected to be over 60 years old by 2050, and Europe reaching a similar demographic milestone by 2030. This demographic shift will lead to a higher demand for pain management solutions, such as pain medications, orthopedic braces, noninvasive approaches, pain relievers (oral analgesics, topical agents, intra-articular agents), nutraceuticals, and other chronic pain treatments.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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