Osteoarthritis, also known as degenerative joint disease is the most common form of arthritis. It can affect various joints in the body. However, the disease has major impact on the knees, neck, lower back, hips, and small joints of fingers. Osteoarthritis is a major debilitating form of joint disease and is more evident in geriatric population. The disease is slow gradual process, which leads to low quality of life, loss of functions, and moderate to severe pain, especially in population having low physical activity or with high body mass index (BMI). Osteoarthritis is characterized pathologically by localized loss of cartilage, remodeling of adjacent bone and associated inflammation. A variety of traumas may trigger the need for a joint to repair itself. Osteoarthritis includes a slow but efficient repair process that often compensates for the initial trauma, resulting in a structurally altered but symptom-free joint. In some people, because of either overwhelming trauma or compromised repair, the process cannot compensate, resulting in eventual presentation with symptomatic osteoarthritis, this might be thought of as 'joint failure'.
Global Osteoarthritis Drugs Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors. The private healthcare sector is one such sector, which has been majorly impacted by the pandemic. COVID-19 has also affected the economies in three main ways- by directly affecting the production and demand, by creating disruptions in distribution channels, and through its financial impact on companies and financial markets. The increase use of NSAIDs (Non-steroidal anti-inflammatory drugs) during the covid-19 with no side effects is expected to drive the market growth. For instance in April 2020, Annals of the rheumatic diseases, a peer-reviewed medical journal published a report on Coronavirus disease (Covid-19) and non-steroidal anti-inflammatory drugs (NSAID), which reported that anti-inflammatory therapies might prevent fatal cytokine storm of Covid-19. Ibuprofen, a commonly prescribed NSAID, was found to reduce interleukin-6 (IL-6) in human tissues, and in sputum. Accordingly, several clinical trials of anti-IL-6 therapies for the treatment of severe Covid-19. Whereas the WHO (World Health Organization) declared to press that there is no evidence of an increased risk of death with the use of NSAIDs in Covid-19.
Thus, impact of the Coronavirus (COVID-19) pandemic is expected to boost growth of the global osteoarthritis drugs market during the pandemic.
The global osteoarthritis drugs market is estimated to be valued at US$ 8,592.2 million in 2022 and is expected to exhibit a CAGR of 8.2% during the forecast period (2022-2030).
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2022: | US$ 8,592.2 Mn |
| Historical Data for: | 2018 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 8.2% | 2030 Value Projection: | US$ 16,184.9 Mn |
| Geographies covered: |
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| Companies covered: |
Pfizer, Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Therapeutics plc, Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Sanofi, Regeneron, GlaxoSmithKline Plc., Johnson & Johnson Private Limited, Bayer AG, Novartis AG, Ferring B.V., Pacira Pharmaceuticals, Inc, Zimmer Biomet, OrthogenRx, Inc. and PHARMED LTD. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Figure 1: Global Osteoarthritis Drugs Market Share, (%), Analysis, By Route of Administration, 2021
Increasing incidences of rheumatoid arthritis is expected to propel the growth of the global osteoarthritis drugs market.
Osteoarthritis is caused due to injury, obesity, and several other factors. It leads to severe joint pain and stiffness of the affected body part. The symptoms of osteoarthritis are swelling in joints, numbness in legs and arms, and decreased range of motion. High prevalence of rheumatoid arthritis is expected to drive the market growth. For instance, on April 2, 2022, Journal of Physiological Anthropology, published a report on high prevalence of rheumatoid arthritis and its risk factors among Tibetan highlanders living in Tsarang, Mustang district of Nepal, which reported that the prevalence of rheumatoid arthritis is estimated to be approximately 0.5–1.0% in Nepal, 2019.
Moreover, According to the Rheumatoid Arthritis. Organization Facts, October 2018, around 1.3 million people in the U.S. and around 1% of world population is affected by rheumatoid arthritis, which is the third major form of osteoarthritis and gout.
Increasing prevalence of obesity associated with deskbound lifestyle is expected to propel growth of the osteoarthritis drugs market over the forecast period. Obesity causes additional pressure on knees and hips, which in turn can affect the cushion joints to breakdown faster. For instance, on May 17, 2022, according to the Center for Disease Control and Prevention, The obesity prevalence was 39.8% among adults aged 20 to 39 years, 44.3% among adults aged 40 to 59 years, and 41.5% among adults aged 60 and older in the U.S. in 2020. Whereas in March 2020, the U.S. obesity prevalence increased from 30.5% to 41.9%. During the same time, the prevalence of severe obesity increased from 4.7% to 9.2%.
Global Osteoarthritis Drugs Market – Restraints
Availability of only symptomatic treatment rather than permanent cure of osteoarthritis is the major factor that is expected to hinder the market growth. Harmful effects of regular administration of non-steroidal anti-inflammatory drugs (NSAID) in osteoarthritis treatment can cause cardiovascular events such as heart attack and stroke, which is further expected to restrain the market growth.
Figure 2: Global Osteoarthritis Drugs Market Value (US$ Mn), By Region, 2021
Increasing research and development by the market players in North America is expected to bolster the market growth over the forecast period.
North America holds dominant position in the global osteoarthritis drugs market, owing to increasing research and development by the market players which is expected to drive the growth of global osteoarthritis drugs market over the forecast period. For instance, in September 2020, Sorrento Therapeutics, Inc., Biotechnology company, released positive Phase 1b trial data of resiniferatoxin (RTX) with completed Day 84 effectiveness data (end-point analysis) for all patients and completed six-month follow-ups in all doses for all patients enrolled, with no negative safety signal as of September 2020. RTX is a new treatment for osteoarthritis patients, particularly when traditional pain management options are insufficient or come with significant drawbacks such as those encountered with opioids.
Global Osteoarthritis Drugs Market - Competitive Landscape
Key players operating in the global osteoarthritis drugs market include Pfizer, Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Therapeutics plc, Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Sanofi, Regeneron, GlaxoSmithKline Plc., Johnson & Johnson Private Limited, Bayer AG, Novartis AG, Ferring B.V., Pacira Pharmaceuticals, Inc, Zimmer Biomet, OrthogenRx, Inc. and PHARMED LTD.
Osteoporosis is a systemic disorder characterized by decreased bone mass and microarchitectural deterioration of bone tissue, leading to bone fragility and increased susceptibility to fractures of the hip, spine, and wrist. Due to its important prevalence worldwide, osteoporosis is considered a serious public health concern associated with disability and pain. The pathophysiology of osteoporosis is an imbalance between bone resorption and bone formation. In osteoporosis, bone resorption takes place to a greater extent than bone formation, so a negative balance occurs with a net loss of bone and an accompanying increasing risk of fractures, resulting in deformity and chronic pain. Nociceptive pain is considered to be chronic when it has been present for at least 3 months.
Market Dynamics
Key players in the market are focused on organic growth strategies such as acquisitions, which is expected to drive the global osteoarthritis drugs market growth over the forecast period. For instance, on August 15, 2022, Gurnet Point Capital, an investment service company and Patient Square Capital, a healthcare investment company, announced the completion of their acquisition of Radius Health, Inc., a Biotechnology Company. Radius’ lead product, TYMLOS (abaloparatide) was launched in the U.S. in 2017 for the treatment of postmenopausal women with osteoporosis at high risk for fracture. This acquisition will help the company in further expansion in the osteoarthritis drugs market over the forecast period.
However, use of Non-steroidal Anti-Inflammatory Drugs (NSAIDs) such as ibuprofen and naproxen in pain management of osteoarthritis can cause cardiovascular diseases, which in turn is expected to hinder the market growth. For instance, in June 2018, the European League against Rheumatism (EULAR) stated the risk of cardiovascular diseases with the regular use of NSAIDs in the treatment of osteoarthritis pain.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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