Global "Osteoarthritis Drugs Market" is Expected to reach at a high CAGR of 8.8% during the forecasting period (2022 - 2029).
Osteoarthritis (OA) is the most common form of arthritis, affecting millions of people worldwide. It is a degenerative disease that worsens over time and occurs when the protective cartilage on the person’s bones wears down. The disorder generally affects joints in the knees, hips, hands, and spine. Osteoarthritis drugs cannot reverse the disorder but are instead used to manage symptoms such as pain, and inflammation, effectively.
The global osteoarthritis drugs market growth is driven by the rising geriatric population and increasing incidence of orthopedic disorders. According to the United Nations (UN), an estimated 10% - 15% of all adults aged over 60 have some degree of OA, with the prevalence higher in women than men. UN estimated that by 2050 people aged over 60 will account for more than 20% of the world’s population, of which 15-20% (around 130 million people) are estimated to have symptomatic OA, and one-third of these people will be severely disabled (about 40 million people).
Rising government investments in cell-based research will drive the market growth
Topical, oral, and parenteral pain medications are widely used to manage pain associated with osteoarthritis. Although alternatives such as orthopedic braces are used as part of a noninvasive approach to pain management, the adoption of pain medications for the condition is high owing to the ease of administration and the affordability of pain medications. Pain relievers such as oral analgesics (acetaminophen and NSAIDs such as ibuprofen, naproxen, tramadol, opiates, and duloxetine), topical agents (such as capsaicin and topical NSAIDs), intra-articular agents (such as corticosteroids and hyaluronic acid), and nutraceuticals (glucosamine and chondroitin) are widely used. Studies reveal that these medications offer a 30% reduction of chronic pain on administration.
The adoption of pain medications for the management of pain associated with osteoarthritis is expected to remain high over the coming decade, which is anticipated to propel the growth of the 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. The high prevalence of rheumatoid arthritis is expected to drive market growth. According to the Rheumatoid Arthritis. Org Facts, October 2018, around 1.3 million people in the U.S. and around 1% of the world population are affected by rheumatoid arthritis, which is the third major form of osteoarthritis and gout. Moreover, the increasing prevalence of obesity-associated with a deskbound lifestyle is expected to propel the growth of the osteoarthritis drugs market over the forecast period.
The risk of adverse cardiovascular events will hamper the growth of the market
OTC and prescription non-steroidal anti-inflammatory drugs are widely used to relieve pain in osteoarthritis patients. As per a study published by the National Center for Biotechnology Information in 2019, more than 50% of osteoarthritis patients in the US are prescribed NSAIDs. Similarly, in Europe, of the total number of osteoarthritis patients using prescription medications (47%), 60% received NSAIDs. The use of NSAIDs is associated with an increased risk of adverse cardiovascular events. Both cyclooxygenase (COX)-2 selective NSAIDs (coxibs) and non-selective NSAIDs increase CVD risk in patients. Such risks associated with the use of NSAIDs can potentially discourage doctors from prescribing these medications while driving patients using OTC NSAIDs to opt for alternative products.
The market for osteoarthritis therapeutics is anticipated to be marginally affected due to the outbreak of COVID-19. According to the research study by Enrico Ragni et al., published in Clinical Pharmacology and Therapeutics Journal, May 2020, the existence of osteoarthritis‐related concomitant disorders is expected to initiate life‐threatening risks for Osteoarthritis patients in case of SARS-CoV2 viral infection. This has led clinicians and orthopedists to examine and evaluate osteoarthritis patients with great care, not only from the perspective of osteoarthritis symptoms management but also for comorbidities that could occur due to osteoarthritis treatment during the COVID‐19 pandemic. Thus, these factors are expected to be impacted during the present pandemic era.
The non-steroidal anti-inflammatory (NSAIDs) drugs segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
NSAIDs have been an important treatment for the symptoms of osteoarthritis for a very long time. NSAIDs impart their anti-inflammatory and analgesic effects via the admission of the prostaglandin-generating enzyme, cyclooxygenase (COX). Non-steroidal anti-inflammatory drugs (NSAIDs) are commonly used agents for backache and various joint pains. Examples of NSAIDs include ibuprofen (Advil, Motrin), naproxen (Aleve), celecoxib (Celebrex), diclofenac (Cataflam and Voltaren), indomethacin (Indocin), oxaprozin (Daypro), and piroxicam (Feldene). NSAIDs help reduce swelling (or inflammation) while relieving pain. NSAIDs work by blocking two forms of an enzyme called cyclooxygenase (COX). COX-1 protects the stomach lining from digestive acids and helps maintain kidney function. COX-2 is produced when joints are injured or inflamed. Blocking both forms of this enzyme reduces inflammation, pain, and fever. According to the research article published in Rheumatology and Therapy, 2020, topical NSAIDs such as diclofenac were advised as a guideline-supported, generally well-tolerated, and effective first-line treatment option for knee and hand OA, especially for older patients and those who have comorbid conditions and/or risk factors for various systemic (gastrointestinal, hepatic, renal, or cardiovascular) adverse events associated with oral NSAIDs, particularly at high doses and with long-term use.
North America region holds the largest market share of the global osteoarthritis drugs market
North America dominates the global osteoarthritis drugs market owing to the high prevalence of Osteoarthritis, the growing obese population, and high acceptance of Hyaluronic Acid-based drugs. According to the Arthritis Foundation, 2017, a conservative estimate indicates that about 54 million adults and almost 300,000 children were officially diagnosed with arthritis in the US and a recent study estimates that as many as 91 million Americans have arthritis. One in three people aged 18-64 has arthritis.
According to the Centers for Disease Control and Prevention, by 2040, an estimated 78.4 million (25.9% of the projected total adult population) adults aged 18 years and older will have doctor-diagnosed arthritis. Moreover, the high awareness among the people, government reimbursement policies, and the presence of significant players in the region are expected to supplement the growth of the regional osteoarthritis drugs market.
Additionally, the increasing research and development activities in the development of novel therapeutics in the North American region are also expected to boost the market. For instance, in March 2019, Fidia Pharma USA Inc. received the United States Food and Drug Administration (FDA) approval for TRILURON, which is a hyaluronic acid (HA) based intra-articular viscosupplement indicated for the treatment of knee pain in osteoarthritis patients who have failed to respond adequately to conservative non-pharmacologic therapy and simple analgesics.
The osteoarthritis drugs market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Bayer AG, OrthogenRx, Abbott Laboratories, GlaxoSmithKline plc, Sanofi SA, Pfizer Inc., Zimmer Biomet, Anika Therapeutics Inc., Mylan (Viatris), Novartis AG, ssertio Holdings Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Osteoarthritis Drugs Market globally. For instance, in December 2020, Moebius Medical received the US Food and Drug Administration (FDA) clearance for its investigational new drug (IND) application to initiate a global multi-center Phase IIb clinical trial of MM-II, which is a novel candidate for the treatment of pain due to knee osteoarthritis (OA).
Bayer AG produces and markets healthcare and agricultural products. The Company manufactures products that include aspirin, antibiotics, anti-Infectives, cardiovascular, oncology, central nervous system drugs, over-the-counter medications, diagnostics, and animal health products, as well as crop protection products, plastics, and polyurethanes.
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