Global Osteoarthritis Pain Drugs Market 2016-2020

Overview of the global osteoarthritis pain drugs market

Technavio’s market research analyst predicts the global osteoarthritis pain drugs market to grow at a CAGR of more than 8% by 2020. There are significant unmet medical needs in this market due to the chronic nature of osteoarthritis and the absence of effective curative therapies. The treatment options available in the market do not provide adequate pain relief in the late stages of osteoarthritis. This has led to a larger number of people opting for natural treatments such as yoga, chiropractic, homeopathy, and naturopathy to treat osteoarthritis. Several pharmaceutical companies are making investments to develop new drugs with better MOA and minimal adverse effects, which will propel the market’s growth during the forecast period. 

According to this market analysis, an interesting trend gaining prominence in the market is the use of off-label drugs. Though these are unapproved medications, they provide effective treatment of osteoarthritis pain. Some of these off-label drugs include steroids and analgesics such as opioid or non-steroidal anti-inflammatory drugs (NSAIDs). People are opting for these drugs as they are less expensive than the approved drugs. Also, over-the-counter (OTC) pain medications such as aspirin, ibuprofen, naproxen sodium, morphine, fentanyl, and topical pain relievers such as creams, salves, or gels are used as maintenance therapies.

Segmentation by route of administration (ROA) and analysis of osteoarthritis pain drugs market

• Oral
• Parenteral
• Topical

The oral ROA dominated the osteoarthritis pain drugs market in 2015 and accounted for around 66% of the overall market share. It is considered to be one of the safest and most preferred routes of drug administration. Oral administration ensures a systemic effect and the drugs administered through this route undergo the first-pass metabolism. The drugs that can be orally administered include tablets, capsules, and oral liquids. Some orally administered osteoarthritis drugs are tofacitinib, ibuprofen, naproxen, and acetaminophen.

Geographical segmentation and analysis of the osteoarthritis pain drugs market

• Americas
• APAC
• EMEA

APAC is expected to be the highest revenue contributing region in the osteoarthritis pain drugs market by 2020 owing to the fast growing populations in China, India, and Japan. Much of this region’s demand will be due to the growing need for better health management, better economic conditions, and awareness about the disease. Factors such as a rise in aging population and approval of drugs like MONOVISC and Vivlodex will drive the market in this region in the coming years.

Competitive landscape and key vendors

The market is highly competitive with the presence of numerous small and large suppliers. The significant unmet needs of the market have led to the entry of several new players who have immense growth opportunities in the market. Vendors are forming strategic alliances to manufacture and promote their drugs and increase their market reach globally. Drugs with high safety and efficacy profile will dominate the market in the coming years.

Key vendors in the market are -

• Abbott Laboratories
• Johnson & Johnson
• Novartis
• Pfizer

Other prominent vendors in the osteoarthritis pain drugs market are AbbVie, Abiogen Pharma, Afferent Pharmaceuticals, Astellas Pharma, BioDelivery Sciences International, CrystalGenomics, Cytori Therapeutics, Daiichi Sankyo, Eli Lilly, Endo Pharmaceuticals Holdings, Horizon Pharma, iCeutica, Iroko Pharmaceuticals, Merck, Nuvo Research, Regeneron Pharmaceuticals, Sanofi, SantoSolve, Techfields Pharma, Winston Pharmaceuticals, Yooyoung Pharmaceutical, and Zynerba Pharmaceuticals.

Key questions answered in the report include

• What will the market size, market forecast and the growth rate be in 2020?
• What are the key factors driving the global osteoarthritis pain drugs market?
• What are the key market trends impacting the growth of the global osteoarthritis pain drugs market?
• What are the challenges to market growth?
• Who are the key vendors in the global osteoarthritis pain drugs market?
• What are the market opportunities and threats faced by the vendors in the global osteoarthritis pain drugs market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global osteoarthritis pain drugs market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Massage Oil Market 2016-2020
• Global Osteosynthesis Devices Market 2016-2020
• Global Osteoarthritis Market 2015-2019