Osteoarthritis Therapeutics Market by Product, Type, and Geography - Forecast and Analysis 2023-2027

Osteoarthritis Therapeutics Market Forecast 2023-2027

The Global Osteoarthritis Therapeutics Market size is estimated to grow by USD 3.96 billion at a CAGR of 8.97% between 2022 and 2027. More than 10% of the world's population is suffering from osteoarthritis. Therefore, the market players are focussing on different techniques to help everyone get rid of osteoarthritis. Key market players such as  Pfizer and Eli Lilly are improving diagnostic modalities, advanced genes, and biotherapy. Furthermore, they are also investing in research and development, and strategic collaborations which are driving market growth. Pain is severe in osteoarthritis, and for controlling pain patients are given acetaminophen and NSAIDs such as Aspirin and CELEBREX.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

Technavio has divided the market into three segments Product, Type, and Geography.

• The product segment is classified into analgesics and NSAIDs, Corticosteroids, Visco supplements, and others.
• The type segment is classified into ankle osteoarthritis, hip osteoarthritis, knee osteoarthritis, and others.
• Based on geography key regions such as North America, Europe, Asia, and Rest Of World (ROW).

Market Segmentation by Product, Type, and Geography

The market segmentation is a complex landscape influenced by various factors that cater to the diverse needs of patients suffering from joint-related ailments. Hospital pharmacies and retail pharmacies, including online pharmacies, play a vital role in providing access to a wide range of pain medications and viscosupplementation agents like chondroitin sulfate and hyaluronic acid.Knee osteoarthritis and arthritis are focal points of therapeutic interventions, with treatments ranging from oral analgesics such as acetaminophen to cell-based studies exploring the potential of stem cells derived from bone marrow for regenerative medicine. The geriatric population forms a significant part of the target patient population, necessitating treatments that factor in age-related challenges and considerations. Orthopedic braces and ease of administration in therapies are key aspects considered for patient comfort and adherence to treatment regimens.

Product Analysis

The product segment is bifurcated into four sub-segments which are analgesics and NSAIDs, Corticosteroids, Visco supplements, and others. Among the four sub-segments, the analgesic segment is dominating during the forecast period. 

Analgesic and NSAIDs

The analgesics and NSAIDs segment was valued at USD 2.98 billion in 2017 and continues to grow during the forecast period. The analgesic and NSAIDs segment is expected to show an accelerated growth momentum during the forecast period. As osteoarthritis is associated with chronic joint pain caused by wear and tear, the treatment approach aims at providing relief for the pain, which is the primary symptom of the disease. Analgesics and NSAIDs help in relieving pain. Hence, their demand is proliferating. The traditional non-selective NSAIDs like ibuprofen and Naprosyn have side effects such as gastric ulceration and bleeding, and renal insufficiency. To address these side effects, several manufacturers are developing NSAID-derived drug conjugates and advanced drug delivery systems for NSAIDs. For instance, Pfizer and Eli Lilly have developed a monoclonal antibody (tanezumab) for the management of chronic pain in patients with osteoarthritis. Hence, such product launches will contribute to the growth of this segment during the forecast period.

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Corticosteroids

Corticosteroids are a class of steroid hormones that are used to control inflammation. It reduces the heat, redness, pain, and swelling in an injured or inflamed part of the body. Some of the marketed products under this segment include DECADRON, Cortone, MEDROL, ENTOCORT EC, and CELESTONE. Corticosteroids are generally used in combination with other drugs and may be administered orally or as injections. The main factor driving this segment is the quick action of corticosteroids. These drugs provide instant relief from pain and inflammation and act rapidly on the stiffness of joints, thereby enhancing the movement of bones connected by the joint.

Visco supplements

Visco supplements are used to restore the levels of hyaluronic acid present in the synovial fluid surrounding the joints. Patients, especially with knee osteoarthritis, have relatively lower levels of hyaluronic acid in their knees. Thus, they are injected with Visco supplements to restore those levels. The drug administration is associated with only minor injection site reactions and generally has a favorable safety profile, and is cost-effective. Such benefits are expected to drive the segment during the forecast period.

Others

This segment includes gene therapy and stem cell therapy drugs used for the treatment of osteoarthritis. Although these drugs have been launched only in a few countries, such as South Korea, they are expecting global launches during the forecast period. The launch of these novel drugs is expected to accelerate market growth. 

Type Analysis

The type segment is classified into ankle osteoarthritis, hip osteoarthritis, knee osteoarthritis, and others.

Ankle osteoarthritis

The primary symptoms associated with ankle osteoarthritis include joint stiffness, joint swelling, reduced range of motion, difficulty walking, lost flexibility, ankle popping or crunching, and difficulty with weight-bearing. To diagnose ankle osteoarthritis X-ray, magnetic resonance imaging (MRI), or computed tomography (CT) scan to understand the severity of the damage. Patients usually opt for arthroscopic surgery, ankle arthrodesis, and ankle replacement if first-line treatments fail to address the condition. Such factors are expected to contribute to the growth of this segment during the forecast period.

Hip osteoarthritis

The factors that lead to or increase the risk of hip osteoarthritis include obesity, age, previous joint injury, muscle weakness, poor biomechanics, and family history of osteoarthritis. To detect the pain and damage,  crepitus (a grating sensation inside the joint) is performed, followed by imaging tests, including X-ray, CT scan, or MRI. If the pain persists and is causing disability, surgical treatments such as osteotomy, hip replacement surgery, and hip resurfacing are performed. Such factors are expected to contribute to the growth of this segment during the forecast period.

Knee osteoarthritis

The risk factors for the development of knee osteoarthritis include age, heredity, gender, repetitive stress injuries, athletics, and conditions such as iron overload and excess growth hormone. The symptoms include pain, swelling, a feeling of warmth in the joints, stiffness in the knee, a decrease in mobility of the knee, and a creaking sound during knee movement. To diagnose, X-rays, CT scans, and MRIs are performed. If the condition is extreme surgical procedures such as arthroscopy, osteotomy, and total or partial knee replacement are performed. Such factors are expected to drive the growth of this segment during the forecast period.

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Regional Analysis

North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The incidence of osteoarthritis is increasing in countries such as the US, owing to the rapidly growing geriatric population and other risk factors, such as obesity. Osteoarthritis is one of the common types of arthritis. According to the CDC, about 78 million US adults are projected to be diagnosed with OA by 2040. Thus, the increasing prevalence of OA in the country is expected to contribute to the growth of the market in the region during the forecast period.

Moreover, owing to the increasing prevalence of OA, companies are gaining regulatory approvals to increase the applications of their therapeutic products for the treatment of OA. For instance, in December 2019, Flexion Therapeutics Inc. obtained a supplemental New Drug Application to update the product label for ZILRETTA (triamcinolone acetonide extended-release injectable suspension), which is used for the treatment of OA knee pain. Such approvals can be an aid in combatting the growing demand for OA therapeutics in the region.

Key Players in Market 

There is high competition in the market. Among several market players, the organization Fidia Farmaceutici Spa stands out among the competitors due to technological innovation and the on-point marketing strategy. 

Fidia Farmaceutici Spa- The company offers osteoarthritis therapeutics such as HYALGAN, HYMOVIS, HYALUBRIX, HYALOTEND, CARTIJOINT, URBASON. They offer hyaluronic products for tissue repair to treat general wounds, ulcers, bedsores, and topical treatment of burns and skin lesions.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Abbott Laboratories
• Alvogen Iceland ehf
• Anika Therapeutics Inc.
• Avanos Medical Inc.
• Bayer AG
• Bioventus LLC
• Boehringer Ingelheim International GmbH
• F. Hoffmann La Roche Ltd.
• Ferring BV
• Fidia Farmaceutici Spa
• GlaxoSmithKline Plc
• Hanmi Pharm Co. Ltd.
• Horizon Therapeutics Plc
• Johnson and Johnson
• Novartis AG
• Pacira BioSciences Inc.
• Pharmed Ltd.
• Sanofi SA
• Viatris Inc.
• Zimmer Biomet Holdings Inc.

Technavio’s report consists of a holistic analysis of the key development analysis,  development stage,  pipeline analysis,  FDA approval, market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge. 

Market: Key Drivers, Trends, Challenges, and Customer Landscape

The market is driven by a growing geriatric population facing issues like knee osteoarthritis and arthritis, necessitating effective treatments such as chondroitin sulfate and viscosupplementation agents. Trends include advancements in cell-based studies using stem cells from bone marrow to regenerate cartilage. Challenges lie in ensuring affordability and ease of administration for pain medications like oral analgesics such as acetaminophen, while healthcare infrastructure must evolve to meet the specific needs of the joint illness population served by hospital pharmacies, retail pharmacies, and online pharmacies. There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Market Driver

The growth of the market for osteoarthritis diagnosis has been driven by traditional imaging techniques, particularly X-ray imaging. However, newer techniques such as magnetic resonance imaging (MRI) are now being utilized to directly visualize the articular cartilage and other intra-articular structures, which are crucial for maintaining joint functionality in osteoarthritis patients. Furthermore, there is an increasing interest in using imaging biomarkers to tailor treatment to each patient's unique phenotype.

Additionally, certain biosignals have been identified that may help predict which subset of patients will respond well to nonsteroidal anti-inflammatory drugs (NSAIDs). Research is also being conducted on imaging biomarkers based on radiographic features, particularly the Kellgren-Lawrence criteria. These advanced diagnostic methods can provide insight into the effectiveness of new drugs, thereby contributing to market growth. As a result, these factors are expected to drive growth in the global market in the foreseeable future. Hence, such factors are driving the market during the forecast period.

Significant Market Trends

One major trend in the osteoarthritis market is the emphasis on strategic collaborations. Due to the numerous drug development failures in phase II and phase III clinical trial stages, there has been a decrease in the number of manufacturers conducting research programs for  this condition. As a result, these companies are now focusing on forming partnerships and collaborations to develop innovative therapies for the treatment of  this condition.

For example, in June 2019, Bioventus LLS entered into a collaborative agreement with MTF Biologics, a tissue bank, to co-create a cutting-edge placental tissue product designed to treat painful musculoskeletal conditions, including osteoarthritis. The primary focus of this collaboration will be on knee osteoarthritis. Hence, such factors are driving the market during the forecast period.

Major Market Challenge

The market growth for osteoarthritis is being impeded by a significant challenge, which is the high cost of treatment. Osteoarthritis is a debilitating condition that causes pain and negatively affects one's quality of life. Most current treatments provide only temporary relief of symptoms and cannot reverse joint damage. Therefore, the focus of treatment is often on reducing pain and improving joint function, which requires lifelong medication.

Moreover, despite the availability of low-cost generic medications in the market, the long-term treatment required for  this condition significantly increases its overall cost. According to the CDC,  this condition was the second most expensive health condition treated at US hospitals in 2013. Another major obstacle is the limited number of curative therapies available for this condition, such as stem cell and gene therapies, which are expensive and have poor patient accessibility. Hence, such factors are hindering the market during the forecast period.

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Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Analgesics and NSAIDs
  • Corticosteroids
  • Viscosupplements
  • Others

• Type Outlook
  • Ankle osteoarthritis
  • Hip osteoarthritis
  • Knee osteoarthritis
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Rest of the World

Market Analyst Overview

The market is shaped by a diverse array of factors and innovations aimed at alleviating joint-related ailments. Affordability remains a critical concern, influencing the accessibility of nutraceuticals and pain medications available through retail pharmacies, online pharmacies, and hospital pharmacies. Personalized OA medications are emerging as a promising avenue, tailoring treatments to the target patient population based on monitoring disease activity and treatment response rates.Innovations like cell-based research and stem cells offer new avenues for joint illness management, potentially revolutionizing osteoarthritis therapies. Viscosupplementation agents, including hyaluronic acid and chondroitin sulfate, play a crucial role in lubricating the joints and enhancing joint's synovial fluid, thereby mitigating pain and discomfort.

Moreover, orthopedic braces and topical agents such as topical NSAIDs and capsaicin provide localized relief, while oral analgesics like naproxen and diclofenac address broader pain management needs. Treatment-related side-effects and exposure to therapies remain areas of concern, driving ongoing research into safer and more effective painkillers and oral ache medicines. As healthcare infrastructure continues to evolve, advancements in anatomy and treatment response monitoring contribute to improved osteoporosis and small-joint osteoarthritis therapeutics. However, challenges persist in balancing treatment efficacy with affordability and minimizing adverse effects for enhanced patient outcomes in rheumatology and joint care.

Market Scope
Report Coverage	Details
Page number	175
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.97%
Market growth 2023-2027	USD 3.96 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.03
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 32%
Key countries	US, UK, Germany, Japan, and China
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Abbott Laboratories, Alvogen Iceland ehf, Anika Therapeutics Inc., Avanos Medical Inc., Bayer AG, Bioventus LLC, Boehringer Ingelheim International GmbH, F. Hoffmann La Roche Ltd., Ferring BV, Fidia Farmaceutici Spa, GlaxoSmithKline Plc, Hanmi Pharm Co. Ltd., Horizon Therapeutics Plc, Johnson and Johnson, Novartis AG, Pacira BioSciences Inc., Pharmed Ltd., Sanofi SA, Viatris Inc., and Zimmer Biomet Holdings Inc.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the market in focus on the parent market
• Detailed market research and growth analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Vendor landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on vendor position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and the Rest of World (ROW)
• A thorough market research report analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth and forecasting analysis of factors that will challenge the growth of market companies

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