Knee Osteoarthritis Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: 27 January, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 4.21 billion |
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Revenue forecast in 2030 |
US$ 8.84 billion |
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Growth Rate |
CAGR of 8.6% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Historical Year |
2020 |
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Segments covered |
Drug Type, Distribution Channel, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment by Growth+ Reports, the global knee osteoarthritis therapeutics market was valued at US$ 4.21 billion in 2021. The market is expected to witness a CAGR of 8.6% during the forecast period from 2022 to 2030.
Market Fundamentals
Osteoarthritis (OA) of the knee, commonly referred to as a degenerative joint disease, is frequently brought on by wear and tear and the gradual loss of articular cartilage. Most often, it affects the elderly. There are two forms of knee osteoarthritis: primary and secondary. Arthritic degeneration without a discernible underlying cause is known as primary osteoarthritis. Secondary osteoarthritis results from either defective articular cartilage, such as in rheumatoid arthritis, or improper force distribution throughout the joint, as in post-traumatic reasons (RA). Osteoarthritis is frequently a disabling condition that worsens over time. Each patient’s clinical symptoms may manifest differently and to varying degrees. Several treatments are available for knee osteoarthritis, including pain relief medication, physiotherapy, and surgery.
However, the most effective treatment is a mix of these modalities. Key factors fueling the market growth include the increasing prevalence of osteoarthritis and the aging population. According to the National Carter for Biotechnology Information, Approximately 654.1 million people over 40 worldwide have knee osteoarthritis. For people aged 20 and older, the combined global incidence of knee osteoarthritis was 203 per 10,000 persons per year. In line with this, there were approximately 86.7 million people with an incident of knee osteoarthritis worldwide in 2020. Between nations, there were significant differences in prevalence and incidence, which rose with age. The market for knee osteoarthritis therapeutics is driven by several other factors, including the availability of effective treatments., the rising incidence of obesity, and the increasing awareness of the condition. Women are more susceptible to knee osteoarthritis in comparison to men. The prevalence and incidence rates were 1:69 and 1:39, respectively, for females and males globally.
Despite the favorable market trends, the knee osteoarthritis therapeutics market is facing some challenges hindering its growth. These challenges include the lack of awareness about the disease, the lack of effective treatments, and the high cost of treatment. Despite the challenges, the market is expected to grow at a healthy rate during the forecast period. Key players in the market are focused on developing new and effective treatments for knee osteoarthritis. This is expected to boost the market growth in the coming years.
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Market Dynamics
The worldwide prevalence of osteoarthritis is rising phenomenally, wherein knee osteoarthritis is the most prevalent type. According to the National Carter for Biotechnology Information, the global prevalence of knee OA in people aged 15 and older was 16%. In people aged 40 and older, it was 22% in 2020. The rising geriatric population is one of the major reasons for the increased knee osteoarthritis patient pool, which is boosting the knee osteoarthritis therapeutics market growth. Players in the osteoarthritis therapeutics market are concentrating on continuously developing and launching novel medications in order to address the increased demand for knee osteoarthritis medications.
Moreover, the government entities throughout the world are implementing a number of initiatives and tactics to hasten the development of such robust medications, thereby propelling the growth of the global knee osteoarthritis therapeutics market. Additionally, promising pipeline products such as PK101, DFV890, and LNA043 are fueling the knee osteoarthritis therapeutics market forecast. The rising sedentary lifestyle and growing obese population, along with the rapidly evolving healthcare infrastructure to reduce the overall healthcare cost, are also anticipated to surge the growth of the knee osteoarthritis therapeutics market. However, the side effects of these drugs, such as stomach upset, ulcers, gastrointestinal bleeding, and drowsiness, have limited the use of this drug, restricting the growth global knee osteoarthritis therapeutics market. The stringent regulatory framework for the drug approval is also one factor that is cramping the growth of the knee osteoarthritis therapeutics market.
Market Ecosystem
The global knee osteoarthritis therapeutics market has been analyzed from three perspectives: Drug Type, Distribution Channel, and Region.
Knee Osteoarthritis Therapeutics Market by Drug Type
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The nonsteroidal anti-inflammatory drugs (NSAIDs), viscosupplement agents, corticosteroids, narcotics drugs, skeletal muscle relaxants, and other categories make up the global knee osteoarthritis therapeutics market. The NSAIDs segment dominated the knee osteoarthritis therapeutics market in 2021. There are many different types of drugs used to treat knee osteoarthritis. However, one of the most common groups of drugs used is nonsteroidal anti-inflammatory drugs (NSAIDs). Nonsteroidal anti-inflammatory drugs reduce pain, morning stiffness, and joint inflammation, increasing the demand for these drugs for the treatment of knee osteoarthritis. NSAIDs also improve the overall strength and mobility of the patients. Ibuprofen and naproxen are the most common NSAIDs used for the treatment of knee osteoarthritis.
Knee Osteoarthritis Therapeutics Market by Distribution Channel
Based on the distribution channel, the global knee osteoarthritis therapeutics market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment had the largest market share of the knee osteoarthritis therapeutics market in 2021, owing to the increased number of prescriptions due to the rise in knee osteoarthritis cases in hospitals. The drugs used for the treatment of knee osteoarthritis depend on the severity of the disease, for mild cases over the counter drugs are preferred, but in severe cases, medication such as viscosupplementing agent injections are needed, which are mostly available in hospital pharmacies. Hospital pharmacies typically have a faster turnaround time than regular pharmacies. Moreover, hospital pharmacy costs much less than other distribution channels. Hospital pharmacies often have discounts or other incentives that regular pharmacies do not, thus boosting segment growth. They are able to provide a higher level of service to patients and have a greater focus on patient safety. Hospital pharmacies are also subject to stricter regulations. They are required to maintain a higher standard of care which is propelling segmental growth.
Knee Osteoarthritis Therapeutics Market by Region
Based on region, the global knee osteoarthritis therapeutics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global knee osteoarthritis therapeutics market in 2021, followed by Europe and Asia Pacific.The rising prevalence of knee osteoarthritis in North America plays a significant role in the regional market growth. According to the National Carter for Biotechnology Information, around 14 million persons had symptomatic knee osteoarthritis, with advanced knee osteoarthritis comprising over half of those cases in U.S. The growing geriatric and obese population is increasing the cases of knee osteoarthritis in the region. According to Direct Orthopedic Care, the U.S. estimates 51.8 million Americans aged 65 and over. The rising sedentary lifestyle and sports injuries also increase knee osteoarthritis chances. The rise in the investment in the region for the R&D to develop novel drugs for knee osteoarthritis is also boosting the regional growth. Moreover, the presence of major market companies and well-developed healthcare infrastructure propel regional growth.
Competitive Landscape
Some of the prominent players operating in the knee osteoarthritis therapeutics market are:
Strategic Developments
The prominent players operating in the global knee osteoarthritis therapeutics market are Sanofi S. A; GlaxoSmithKline plc; Bayer AG; Pfizer Inc.; Eli Lilly and Company; Novartis AG; Bioventus; Horizon Therapeutics plc; Zimmer Biomet; Johnson & Johnson; Pacira BioSciences, Inc.; and Anika Therapeutics, Inc. among others.
North America has the largest market share in terms of revenue. Asia Pacific has the fastest growth rate, which can be considered the key growth region due to the rapid market developments.
The market size of the knee osteoarthritis therapeutics is expected to be US$ 8.84 billion by 2030.
Nonsteroidal anti-inflammatory drugs (NSAIDs) segment holds the largest market share of the knee osteoarthritis therapeutics market.
Osteoarthritis (OA) of the knee, commonly referred to as a degenerative joint disease, is frequently brought on by wear and tear and the gradual loss of articular cartilage.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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