Osteoarthritis Market Size Analysis, Global Leaders Overview, Demand Forecast and Future Evaluation by MRFR
Market Research Future published a research report on Global Osteoarthritis Market and the report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
Pune, India – April 4, 2019 /MarketersMedia/ —
Osteoarthritis Market Research Report, By Type (Hip Osteoarthritis, Spinal Osteoarthritis) By Diagnosis (Imaging, Joint Fluid Analysis) By Treatment (Medication, Surgery, Therapy) By End Users (Hospitals, Medical Institutes) – Global Forecast till 2023
The Global Osteoarthritis Market Report is Recently Published By Market Research Future Firm. Report include market exclusive analysis on the basis of industry size, recent trends and demand supply. Market analysis is available on MarketResearchFuture.com uniquely by 80+ pages information, 30+ tables and 30+ figures exclusively.
As per the analysis of Market Research Future (MRFR), the global osteoarthritis market is poised to capture a CAGR of 6.8% over the forecast period of 2017-2023.
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Osteoarthritis is a musculoskeletal condition which involves the thinning of cartilage in joints. It causes bones to rub together and create stiffness, impaired movement, and pain. Osteoarthritis is a major disability among the elderly population and is mostly associated a variety of modifiable and non-modifiable risk factors, age being the foremost one. Growing elderly population is proving to be vital for the growth of the global osteoarthritis market.
The incidence rate of osteoarthritis is increasing with the rise in global geriatric population, especially in developed countries. The trend is likely to continue with support from additional risk factors such as obesity, genetic predisposition, trauma, unhealthy lifestyle, bone density, and occupational injury.
Various drugs are available in the market which can help to alleviate the pain associated with osteoarthritis and improve function in patients. However, no therapy has been yet discovered which can reverse the progression of osteoarthritis. This has long been the subject of research for many researchers. Various studies are being conducted to come up with effective therapies which can curb the succession of the disease and reduce the economic burden of osteoarthritis.
Industry Updates
March 2019 – Researchers from the Kennedy Institute of Rheumatology at the University of Oxford, and Jenner Institute have collaboratively developed a vaccine that could be used to treat chronic pain caused by osteoarthritis. The virus-like particle vaccine is capable of triggering the immune system to produce antibodies which would help to block naturally-occurring NGF and alleviate osteoarthritis pain.
Key Players :
Improved accessibility to diverse resources and capabilities is expected to impel the growth of the market in the coming forecast period. The participants in the market are bidding to create several controls that will allow them to control a more noteworthy portion of the market. The use of effective strategy execution techniques is anticipated to bear positively on the future growth of the market. Furthermore, the vertical integrations and product strategies of the market is increasing the potential for the market players. The examination of the market shows that it is poised for an accelerated progress rate in the upcoming years. Product diversity in the market has established a favorable product differentiation scenario that is balancing the market’s progress.
Pfizer Inc. (U.S.),
Regeneron (U.S.),
Ampio Pharmaceuticals Inc. (U.S.),
ABIOGEN PHARMA S.p.A (Europe),
Abbott. (U.S.),
Merck Sharp & Dohme Corp. (U.S.),
Novartis AG (Europe),
Eli Lilly and Company. (U.S.),
TissueGene Inc. (U.S.), and
others are the eminent players in the global osteoarthritis market.
Segmental Analysis
The Global Osteoarthritis Market has been segmented based on type, diagnosis, treatment, and end user.
By type, the global osteoarthritis market has been segmented into hip osteoarthritis, wrist osteoarthritis, spinal osteoarthritis, and others.
By diagnosis, the global osteoarthritis market has been segmented into imaging, joint fluid analysis, and others. The imaging segment is sub segmented into X-rays, magnetic resonance imaging (MRI), and others.
By treatment, the global osteoarthritis market has been segmented into medication, surgery, therapy, and others. The medication segment has been further segmented into analgesics and non-steroidal anti-inflammatory drugs, and others. The analgesics segment has been further segmented into acetaminophen, duloxetine, and others. The non-steroidal anti-inflammatory drugs sub-segment has been further segmented into aspirin, ibuprofen, naproxen sodium and naproxen, and others.
By end user, the global osteoarthritis market has been segmented into hospitals & clinics, medical institutes, research organization, and others.
Regional Analysis of Global Osteoarthritis Market
By region, the global osteoarthritis market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA.)
The majority of the market share is held by the Americas. massive patient population, high healthcare expenditure, and a robust healthcare sector are factors supporting market growth. Besides, availability of advanced treatment options and favorable reimbursement scenario is also supporting the growth of the market.
Europe is the second largest market for osteoarthritis. Increasing incidence rate of arthritis, well-developed healthcare sector, and availability of funds for R&D are factors projected to augment the growth of the market. The Europe osteoarthritis market has been segmented into Western Europe and Eastern Europe. Western Europe, led by the UK, Germany and France, accounts for the foremost share of the market while Eastern Europe is expanding at a relatively faster rate. The untapped markets of Eastern Europe hold huge growth potential.
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APAC is poised to showcase the fastest growth over the forecast period. Presence of a broad base of patients suffering from arthritis coupled with surging healthcare expenditure in the emerging economies of the region such as China, India, and others presents scope for market expansion. In addition, favorable government policies and increasing awareness is also fostering the growth of the market.
The MEA market accounts for the minimum share of the global osteoarthritis market. Poor economic conditions and low healthcare expenditure in the African region is hampering the growth of the MEA market. However, the market is showcasing significant progress in the developed economies of the region such as Kuwait, Dubai, Qatar, and Saudi Arabia where healthcare expenditure is considerably high
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