Global Osteoarthritis Treatment Market is Expected to Reach USD 5,895.5 Mn by 2022
The latest market report published by Brisk Insights “Global Osteoarthritis Treatment Market - Growth, Share, Opportunities, Pipeline Analysis, Competitive Analysis, and Forecast, 2016 - 2022,” the osteoarthritis treatment market was valued at USD 5,132.4 Mn in 2015, and is expected to reach USD 5,895.5 Mn by 2022, expanding at a CAGR of 1.95% from 2016 to 2022.
Browse the full report Osteoarthritis Treatment Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 at https://www.briskinsights.com/report/osteoarthritis-treatment-market
According to World Health Organization (WHO), Osteoarthritis (OA) is a long-term chronic disease characterized by the deterioration of cartilage in joints which results in bones rubbing together and creating stiffness, pain, and impaired movement. Furthermore, the disease most commonly affects the middle-aged and elderly, although younger people may be affected as a result of injury or overuse. Age is the strongest predictor of the disease and therefore increasing age and extended life expectancy will result in a greater occurrence of the disease. The meager treatment seeking rate is one of the main barriers to the growth of the market. Most of the medical practitioners suggested that early detection of osteoarthritis can improve patient’s quality of life but there is often a lack of awareness about the disease which requires attention. The types of therapeutics included in treatment of osteoarthritis disease are segmented as analgesics, non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids and hyaluronic acid. According to market experts, the non-steroidal anti-inflammatory drugs (NSAIDs) class of painkillers, such as diclofenac (150mg per day) and etoricoxib (30, 60 or 90mg per day) were found more likely to improve pain (between 95 and 100% likely) and were the top-ranked painkilling drugs. However, the major market restraint of NSAIDs market in osteoarthritis application is that its long-term use can trigger complications such as stomach ulcers, and, in rare cases may lead to heart failure.
The phase III drugs included in the pipeline analysis are Sprifermin (Merck Serono), Invossa (TissueGene), Ampion (Ampio Pharmaceuticals. Inc.),Apitox (Apimeds, Inc.), Fasinumab (Regeneron Pharmaceuticals), LBSA0103 (LG Life Sciences), and AXS-02 (Axsome Therapeutics, Inc.). According to market experts, it was observed that the late-stage development pipeline at present includes two drugs TissueGene’s Invossa and Merck Serono’s sprifermin which are expected to launch in the US in 2020 and 2021, respectively. The III phase clinical trials studies have shown evidence of reducing disease progression, and Invossa was also found to decrease osteoarthritis pain.
Key Market Movements
- Osteoarthritis is mainly prevalent in elderly persons and a significant increase in osteoarthritis incidence has occurred over the past few years assisted by rapid increase in the obese population
- Currently population of developed countries is at high risk of osteoarthritis due to increasing geriatric population
- In developing countries from Asia Pacific and Latin America the awareness related to age-specific diseases such as osteoarthritis and osteoporosis is increasing