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Global Osteoarthritis Drugs Market – Effective Osteoarthritis Treatment

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.

The global osteoarthritis drugs market size was valued at US$ 5,895.1 million in 2017 and is expected to exhibit a CAGR of 8.2 % over the forecast period (2018 – 2026).

Figure 1. Global Osteoarthritis Drugs Market Value (US$ Mn), by Region, 2017

                             Osteoarthritis Drugs  | Coherent Market Insights                

Source: Coherent Market Insights Analysis (2019)

Increasing incidences of rheumatoid arthritis is expected to propel growth of the 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. According to the Rheumatoid Arthritis. Org 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.

Moreover, 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. According to the World Health Organization (WHO) factsheet February 2018, around 1.9 billion adults aged above 18 years were overweight, worldwide in 2016, of which around 650 million were obese.

However, 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 nonsteroidal 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 Share (%), by Route of Administration,

    Osteoarthritis Drugs  | Coherent Market Insights          

 Source: Coherent Market Insights Analysis (2019)

Increasing geriatric population in North America is expected to bolster the market growth

North America holds dominant position in the global osteoarthritis drugs market, owing to increasing geriatric population that is prone to high risk of osteoarthritis. According to the Centers for Disease Control and Prevention (CDC) factsheet 2018, around 29.3% and 49.6% population aged 45 to 64 and above 65 years, respectively were diagnosed with arthritis from 2013 to 2015 in the U.S. Similarly, according to the National Centre for Biotechnology Information (NCBI), December 2016, around 14 million individuals were diagnosed with symptomatic knee osteoarthritis and around 2 million people below 45 years of age were diagnosed with symptomatic knee osteoarthritis, where 6 million cases were diagnosed in people aged 45 to 64 years and above 65 years in the U.S.

Moreover, increasing institutional initiatives to collaborate with key players for research regarding osteoarthritis is expected to drive the market growth. For instance, the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), in collaboration with GlaxoSmithKline, Merck Sharp & Dohme Corp., Novartis, and Pfizer, initiated a nationwide research study known as Osteoarthritis Initiative: A Knee Health Study, to examine people with knee osteoarthritis or those prone to knee osteoarthritis.

Moreover, key players in the market are focused on receiving approvals for novel products that aid in treatment of osteoarthritis. For instance, in May 2018, Eli Lilly and Company received U.S. Food and Drug Administration (FDA) approval for Olumiant (baricitinib), a Janus kinase (JAK) inhibitor used in treatment of moderate to severe rheumatoid arthritis that has low response towards tumor necrosis factor inhibitor.

Key Players

Major players operating in the global osteoarthritis drugs market include Pfizer Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Pharma plc., Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Inc., Sanofi, Flexion Therapeutics, Inc., Regeneron, and GlaxoSmithKline Plc.

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).

Market Dynamics

Increasing prevalence of osteoarthritis is a major factor driving the osteoarthritis drugs market growth. According to the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2013, total prevalence of combined symptomatic and radiographic osteoarthritis of knee and hip was around 3.8% worldwide, with 20.3 % in males and 4.5% in females.

Furthermore, key players in the market are focused on research and development of medication for symptomatic treatment of osteoarthritis, which is expected to drive the market growth. For instance, in April 2018, Flexion Therapeutics, Inc. initiated Phase III study of FX006 32 mg indicated for knee osteoarthritis. The study in expected to be completed by June 2020.  

However, use of Nonsteroidal 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. 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:

  • This report provides in-depth analysis of the osteoarthritis drugs market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2018 – 2026), considering 2017 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global osteoarthritis drugs market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Pfizer Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Pharma plc., Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Inc., Sanofi, Flexion Therapeutics, Inc., Regeneron, and GlaxoSmithKline Plc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics.
  • The global osteoarthritis drugs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the osteoarthritis drugs market

Detailed Segmentation:

  • Global Osteoarthritis Drugs Market, By Drug Class:
    • Analgesics
    • Nonsteroidal Anti-Inflammatory Drugs
    • Corticosteroids
    • Hyaluronic Acid
    • Phase III Drugs
  • Global Osteoarthritis Drugs Market, By Route of Administration:
    • Oral
    • Parenteral
  • Global Osteoarthritis Drugs Market, By Disease Type:
    • Ankle Osteoarthritis
    • Hip Osteoarthritis
    • Knee Osteoarthritis
    • Shoulder Osteoarthritis
    • Others
  • Global Osteoarthritis Drugs Market, By Distribution Channel:
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • Global Osteoarthritis Drugs Market, By Region:
    • North America
      • By Drug Class:
        • Analgesics
        • Nonsteroidal Anti-Inflammatory Drugs
        • Corticosteroids
        • Hyaluronic Acid
        • Phase III Drugs
      • By Route of Administration:
        • Oral
        • Parenteral
      • By Disease Type:
        • Ankle Osteoarthritis
        • Hip Osteoarthritis
        • Knee Osteoarthritis
        • Shoulder Osteoarthritis
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Drug Class:
        • Analgesics
        • Nonsteroidal Anti-Inflammatory Drugs
        • Corticosteroids
        • Hyaluronic Acid
        • Phase III Drugs
      • By Route of Administration:
        • Oral
        • Parenteral
      • By Disease Type:
        • Ankle Osteoarthritis
        • Hip Osteoarthritis
        • Knee Osteoarthritis
        • Shoulder Osteoarthritis
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Drug Class:
        • Analgesics
        • Nonsteroidal Anti-Inflammatory Drugs
        • Corticosteroids
        • Hyaluronic Acid
        • Phase III Drugs
      • By Route of Administration:
        • Oral
        • Parenteral
      • By Disease Type:
        • Ankle Osteoarthritis
        • Hip Osteoarthritis
        • Knee Osteoarthritis
        • Shoulder Osteoarthritis
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Drug Class:
        • Analgesics
        • Nonsteroidal Anti-Inflammatory Drugs
        • Corticosteroids
        • Hyaluronic Acid
        • Phase III Drugs
      • By Route of Administration:
        • Oral
        • Parenteral
      • By Disease Type:
        • Ankle Osteoarthritis
        • Hip Osteoarthritis
        • Knee Osteoarthritis
        • Shoulder Osteoarthritis
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Drug Class:
        • Analgesics
        • Nonsteroidal Anti-Inflammatory Drugs
        • Corticosteroids
        • Hyaluronic Acid
        • Phase III Drugs
      • By Route of Administration:
        • Oral
        • Parenteral
      • By Disease Type:
        • Ankle Osteoarthritis
        • Hip Osteoarthritis
        • Knee Osteoarthritis
        • Shoulder Osteoarthritis
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Drug Class:
        • Analgesics
        • Nonsteroidal Anti-Inflammatory Drugs
        • Corticosteroids
        • Hyaluronic Acid
        • Phase III Drugs
      • By Route of Administration:
        • Oral
        • Parenteral
      • By Disease Type:
        • Ankle Osteoarthritis
        • Hip Osteoarthritis
        • Knee Osteoarthritis
        • Shoulder Osteoarthritis
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Pfizer Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Highlights
      • Market Strategies
    • Abbott
    • Eli Lilly and Company
    • ABIOGEN PHARMA S.p.A
    • Horizon Pharma plc.
    • Ferring B.V.
    • Merck Sharp & Dohme Corp.
    • Medivir
    • Bioventus, Inc.
    • Sanofi
    • Flexion Therapeutics, Inc.
    • Regeneron
    • GlaxoSmithKline Plc.

 “*” marked represents similar segmentation in other categories in the respective section.

FAQ

Frequently Asked Questions

The global osteoarthritis drugs market is estimated to surpass US$ 11.7 Billion by 2026.
Major players operating in the global osteoarthritis drugs market include Pfizer Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Pharma plc., Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Inc., Sanofi, Flexion Therapeutics, Inc., Regeneron, and GlaxoSmithKline Plc.
Among route of administration, oral segment held a dominant position in the osteoarthritis drugs market in 2018.
Increasing incidence of rheumatoid arthritis is one of the major factors that is expected to propel growth of the market over the forecast period.
The global osteoarthritis drugs market is estimated to exhibit a CAGR of 8.2% over the forecast period.
Among regions, North Americais expected to hold dominant position in the osteoarthritis drugs market over the forecast period.
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