Osteoarthritis Treatment Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 7.33 Billion |
| Market Size (2029) | USD 9.24 Billion |
| CAGR (2024 - 2029) | 4.74 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Osteoarthritis Treatment Market Analysis
The Osteoarthritis Treatment Market size is estimated at USD 7.33 billion in 2024, and is expected to reach USD 9.24 billion by 2029, growing at a CAGR of 4.74% during the forecast period (2024-2029).
The COVID-19 pandemic had a short-term impact on the market growth as it led to the cancelation or postponement of the scheduled treatment procedures and a decrease in the number of new diagnoses of osteoarthritis. According to the article published by PubMed Central in June 2022, there was a significant reduction in the healthcare of orthopedic and trauma patients during the COVID-19 pandemic in the Czech Republic. It also emphasized the healthcare system's shortcomings, including outpatient and inpatient care. Also, COVID-19 impacted pharmaceutical companies' research and development activities along with the delay in clinical trials of several new therapies worldwide, including treatments for osteoarthritis. Hence, the COVID-19 pandemic had a significant impact on the market initially. However, as the number of cases of COVID-19 has declined, the studied market has started to regain traction. It is expected to have healthy growth during the forecast period of the study.
The increasing geriatric population, increasing research & development activities, and funding for osteoarthritis therapeutics are the significant factors driving the growth of the studied market.
As the older population is more susceptible to osteoarthritis, the increase in the global geriatric population is expected to have a significant impact on the studied market. For instance, according to the data published by the UN in 2022, the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. The source also claims by 2050, the number of people aged 65 years or over worldwide is projected to be more than twice the number of children under age five and about the same as the children under age 12. Furthermore, according to an article published by PubMed Central in September 2022, osteoarthritis is a significant cause of disability. It is the most common type of arthritis, affecting almost 10% of the global population aged 60 years and above. Hence, the rising geriatric population and the association of old age with osteoarthritis will enhance the market growth during the forecast period.
Also, the increasing awareness among the people, the availability of better treatment options, and the willingness to take up treatment are expected to complement the growth of the osteoarthritis treatment market. For instance, according to the Osteoarthritis (OA) Action Alliance, May is arthritis awareness month. It also stated that osteoarthritis (OA) is the most common form of arthritis.
Additionally, the market players have been adopting various strategies, such as product launches, developments, acquisitions and mergers, and collaborations, and expanding their product portfolio in the studied market and boosting it. For instance, in September 2021, Indian drug manufacturer Lupin Limited launched generic Duexis tablets used to treat the symptoms of rheumatoid arthritis and osteoarthritis in the US.
Therefore, owing to the factors such as the increasing geriatric population, increasing awareness about osteoarthritis, and product launches, the studied market is anticipated to witness growth over the analysis period. However, the high cost associated with hyaluronic acid products and other treatment procedures for osteoarthritis treatment and the side effects related to the available therapies may impede the growth of the osteoarthritis treatment market over the forecast period.
Osteoarthritis Treatment Market Trends
This section covers the major market trends shaping the Osteoarthritis Treatment Market according to our research experts:
Knee Osteoarthritis Therapeutics is Expected to Hold a Significant Share in the Osteoarthritis Treatment Market Over the Forecast Period
Knee osteoarthritis is one of the primary reasons for disability in old age in people all over the world. The increasing prevalence of knee osteoarthritis, increasing awareness about knee osteoarthritis, and the rising geriatric population are vital factors responsible for the segment's growth. For instance, according to the article published by PubMed Central in June 2022, knee osteoarthritis (OA) is a degenerative joint disease, one of the most common reasons for knee joint replacements in the US. Thus, it creates the need for therapeutic drugs for treatment and drives the market segment's growth.
As per the OECD data in 2022, the elderly population in Australia has increased to 16.82% in 2021, which is high compared to other years. Similarly, according to the same source, the elderly population in Germany increased to 22.09% in 2021. As knee osteoarthritis is highly associated with old age, the increasing geriatric population is also expected to complement the segment growth.
Furthermore, continuous developments by major players in the market are positively affecting the segment's growth. For instance, in September 2021, Novartis received approval from the US FDA for LNA043 to treat knee osteoarthritis. LNA043 is being developed as a potential first-in-class disease-modifying treatment for osteoarthritis (OA).
Therefore, the knee osteoarthritis segment is expected to witness significant growth over the forecast period due to the increasing prevalence of knee osteoarthritis, the rising geriatric population in various countries, and continuous developments by major players.
North America is Expected to Acquire Significant Share in the Osteoarthritis Treatment Market Over the Forecast Period
The North American market is expected to grow, owing to the increasing prevalence of chronic diseases, the rise in the geriatric population, and changes in the living lifestyles of people. As a result, the region's adoption of different treatments and drugs is increasing. The US will hold a significant share of the osteoarthritis treatment market in North America compared to Canada and Mexico. According to the National Public Health Agenda report for Osteoarthritis 2020, updated by the Osteoarthritis Action Alliance, osteoarthritis is the most common form of arthritis. It affects 1 in 7 adults in the US, and about 32.5 million people, from which more than 50% of adults with osteoarthritis are working age. Hence, the high prevalence of osteoarthritis in the region is expected to enhance the growth of the studied market.
Furthermore, the rising prevalence of osteoarthritis in Canada and Mexico is also driving the market's growth. For instance, according to the data published by the Arthritis Society Canada in September 2021, it is estimated more than 4 million Canadians have osteoarthritis, more than all other arthritis types combined. It is also estimated that about 1 in 7 Canadian adults live with the impact of osteoarthritis. Moreover, according to an article published by PubMed Central in January 2022, a study showed that the prevalence of symptomatic knee osteoarthritis was 7.1% in people over 18 years of age and 17.6% among those more than 40 years of age in Mexico. Hence, with the increasing prevalence of osteoarthritis in Canada and Mexico, the studied market is expected to experience growth during the forecast period of the study.
Additionally, the availability of better treatment options, government reimbursement policies, increasing research and development activities in developing novel therapeutics, and launching new therapies in the North American region are also expected to boost the market growth. For instance, in January 2022, Merck, through its subsidiary Ares Trading SA entered into an out-licensing agreement for sprifermin with TrialSpark/High Line Bio of the US. Sprifermin is a recombinant form of human fibroblast growth factor 18 currently being investigated in patients with osteoarthritis (OA).
Hence, due to factors such as the increasing geriatric population, rising osteoarthritis prevalence, increasing research and development activities in developing novel therapeutics, and the launch of new therapies, the North American region is expected to hold a significant share in the studied market over the forecast period.
Osteoarthritis Treatment Industry Overview
The osteoarthritis treatment market is slightly competitive, with several global players actively involved in developing new and advanced therapies for the treatment of osteoarthritis or involved in acquisitions or collaboration agreements to make advancements in the studied market. Some key players in the studied market comprise Sanofi SA, Pfizer Inc., GlaxoSmithKline plc, Zimmer Biomet, Abbott Laboratories, Bayer AG, and Anika Therapeutics, among others.
Osteoarthritis Treatment Market Leaders
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Sanofi SA
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GlaxoSmithKline plc
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Pfizer Inc
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Bayer AG
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Zimmer Biomet
*Disclaimer: Major Players sorted in no particular order
Osteoarthritis Treatment Market News
- September 2022- Alkem Laboratories received regulatory approval for its off-the-shelf cell therapy product, StemOne, from the Drug Controller General of India (DCGI) for its launch in India. Alkem Laboratories, in collaboration with Stempeutics, launched the product for treating knee osteoarthritis, a degenerative joint disease.
- August 2022- Shionogi & Co., Ltd., and Gr眉nenthal GmbH entered a licensing agreement to commercialize injectable resiniferatoxin, a pipeline product of Gr眉nenthal, in Japan. It is for the treatment of pain in patients with osteoarthritis of the knee.
Osteoarthritis Treatment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population
4.2.2 Increasing Research & Development Activities and Funding for Osteoarthritis Therapeutics
4.3 Market Restraints
4.3.1 High Cost Associated with the Treatment Procedures
4.3.2 Side Effects Associated with the Available Therapeutics
4.4 Porter' s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Drugs
5.1.1 Non-steroidal Anti-inflammatory Drugs (NSAIDs)
5.1.2 Corticosteroids
5.1.3 Hyaluronic Acid Injection
5.1.4 Other Drugs
5.2 By Anatomy
5.2.1 Ankle Osteoarthritis
5.2.2 Hip Osteoarthritis
5.2.3 Knee Osteoarthritis
5.2.4 Shoulder Osteoarthritis
5.2.5 Other Anatomies
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bayer AG
6.1.2 OrthogenRx
6.1.3 Abbott Laboratories
6.1.4 Glaxosmithkline plc
6.1.5 Sanofi SA
6.1.6 Pfizer Inc.
6.1.7 Zimmer Biomet
6.1.8 Anika Therapeutics Inc.
6.1.9 Viatris
6.1.10 Novartis AG
6.1.11 SEIKAGAKU CORPORATION
6.1.12 Assertio Holdings Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Osteoarthritis Treatment Industry Segmentation
As per the scope of the report, osteoarthritis, also known as degenerative arthritis, is the most commonly occurring chronic condition that affects the joints. It leads to severe joint pain and stiffness of the affected body parts. Several treatments can cure osteoarthritis, including exercise to reduce joint pain and pain medications. The Osteoarthritis Treatment Market is segmented by drugs (Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids, Hyaluronic acid Injection, and other drugs), anatomy (Ankle Osteoarthritis, Hip Osteoarthritis, Knee Osteoarthritis, Shoulder Osteoarthritis, and other anatomies), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value in (USD million) for the above segments.
| By Drugs | |
| Non-steroidal Anti-inflammatory Drugs (NSAIDs) | |
| Corticosteroids | |
| Hyaluronic Acid Injection | |
| Other Drugs |
| By Anatomy | |
| Ankle Osteoarthritis | |
| Hip Osteoarthritis | |
| Knee Osteoarthritis | |
| Shoulder Osteoarthritis | |
| Other Anatomies |
| Geography | ||||||||
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Osteoarthritis Treatment Market Research FAQs
How big is the Osteoarthritis Treatment Market?
The Osteoarthritis Treatment Market size is expected to reach USD 7.33 billion in 2024 and grow at a CAGR of 4.74% to reach USD 9.24 billion by 2029.
What is the current Osteoarthritis Treatment Market size?
In 2024, the Osteoarthritis Treatment Market size is expected to reach USD 7.33 billion.
Who are the key players in Osteoarthritis Treatment Market?
Sanofi SA, GlaxoSmithKline plc, Pfizer Inc, Bayer AG and Zimmer Biomet are the major companies operating in the Osteoarthritis Treatment Market.
Which is the fastest growing region in Osteoarthritis Treatment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Osteoarthritis Treatment Market?
In 2024, the North America accounts for the largest market share in Osteoarthritis Treatment Market.
What years does this Osteoarthritis Treatment Market cover, and what was the market size in 2023?
In 2023, the Osteoarthritis Treatment Market size was estimated at USD 7 billion. The report covers the Osteoarthritis Treatment Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Osteoarthritis Treatment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Osteoarthritis Treatment Industry Report
The Osteoarthritis Treatment Market is segmented by drugs, anatomy, and geography. This industry report provides a comprehensive market overview, detailing the market trends and industry outlook. The analysis includes insights into the market size and market share, along with a historical overview and market forecast. The industry analysis highlights the market growth and identifies the market leaders within the osteoarthritis treatment sector.
The report delves into various drug categories such as Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids, and Hyaluronic acid Injection. It also covers different anatomical segments including Ankle, Hip, Knee, and Shoulder Osteoarthritis. The geographical segmentation spans North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
This industry research provides valuable market data and industry statistics, offering a detailed market review and market predictions. The market segmentation and market value are thoroughly examined, providing a clear understanding of the industry size and industry trends.
The report example and report PDF are available for download, providing a comprehensive industry outlook and market forecast. This market research is crucial for understanding the market growth and the role of market leaders in driving the industry forward. The research companies involved in this study offer extensive insights into the market, making this a valuable resource for industry sales and market analysis.
