Osteoarthritis Drugs Market

Osteoarthritis Drugs Market Size

Osteoarthritis Drugs Market was valued at USD 8.9 billion in 2023 and is expected to reach USD 16.1 billion by end of 2032, growing at a CAGR of 6.9% over the analysis period. The industry is experiencing dynamic growth driven by factors such as increasing prevalence of osteoarthritis majorly among geriatric population and growing research & development activities for osteoarthritis therapeutics.

According to the data published by Centers for Disease Control and Prevention in 2023, approximately 32.5 million people have osteoarthritis in the U.S. alone. Therefore, advancement in treatment of osteoarthritis and drug development, introduction of personalized osteoarthritis new medications and enhancing accessibility of therapeutics across various healthcare facilities is anticipated to accelerate the market growth.

Osteoarthritis drugs refer to pharmaceutical agents and medications specifically designed or prescribed to manage the symptoms and slow the progression of osteoarthritis, a degenerative joint disease characterized by the breakdown of cartilage in the joints. These drugs encompass various classes of medications. They work through different mechanisms to alleviate pain, reduce inflammation, improve joint function, and potentially modify the underlying disease process.

Osteoarthritis Drugs Market Trends

• The market growth is owing to increasing elderly population base that are more prone to osteoarthritis. For instance, as highlighted in a PubMed Central article from September 2022, osteoarthritis stands out as a leading cause of disability, affecting nearly 10% of the global population aged 60 years and older. This rise in the geriatric population has led to a greater focus on geriatric healthcare, including the development of specialized treatments and medications tailored to the needs of older patient.
  
• Thus, pharmaceutical companies are investing in research and development efforts to create innovative therapies that address the unique challenges of treating osteoarthritis in elderly patients, thereby fostering the market growth.
  

Osteoarthritis Drugs Market Analysis

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Based on the drug type, the global market is classified into viscosupplementation agents, nonsteroidal anti-inflammatory drugs, analgesics, corticosteroids, and other drug types. The viscosupplementation agents drug type segment dominated the market with revenue of USD 3 billion in 2023.

• These agents are made of hyaluronic acid and provide lubrication and cushioning to the affected joints, lowering pain and increasing mobility. Also, they offer a minimally invasive therapeutic alternative to individuals with mild to moderate osteoarthritis who have not responded well to conventional treatments. According to the article published by NCBI in July 2021, viscosupplementation with hyaluronic acid injections effectively decreases pain and improves functionality, hence delaying surgery. Thus, availability of such varying evidence, viscosupplementation alternatives have a safe profile and demonstrated efficacy, contributing significantly to OA symptom management, thereby augmenting the market growth.
  

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Based on route of administration, the osteoarthritis drugs market is classified into oral, parenteral, topical. The parenteral segment held highest market share of 41.5% in 2023.

• The segmental growth is attributable to the factors such as better pharmacokinetics and pharmacodynamics, efficacy for certain therapies, and ease of administration.
  
• Also, parenteral administration routes offer a viable solution for delivering osteoarthritis drugs to elderly patients who may have difficulty swallowing pills or have gastrointestinal issues. Thus, the growing aging population presents a significant demographic driver for the demand for parenteral administration routes in osteoarthritis treatment.
  

Based on anatomy, the osteoarthritis drugs industry is classified into ankle osteoarthritis, hip osteoarthritis, knee osteoarthritis, shoulder osteoarthritis, and other anatomies. The knee osteoarthritis segment is expected to hold the highest revenue throughout the forecast period.

• The increased awareness of knee osteoarthritis, rising prevalence of knee osteoarthritis, and the growing elderly population are all key factors driving the segmental growth.
  
• According to a PubMed Central article published in June 2022, knee osteoarthritis (OA) is a degenerative joint condition and one of the leading causes of knee joint replacements in the U.S. Thus, it enhances the demand for therapeutic drugs for treatment, thereby propelling the market growth forward.
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Based on medication, the osteoarthritis drugs market is classified into prescription and over-the-counter (OTC) drugs. The over-the-counter segment held highest share of 56.7% in 2023.

• The growth of the over-the-counter (OTC) segment in the market is driven by several factors including the broad availability of OTC medications without the need for prescriptions, rising patients' inclination towards convenient self-care alternatives.
  
• Also, cost-effectiveness in comparison to prescription drugs, increased awareness and education regarding osteoarthritis treatments, escalating healthcare expenditures, and a shift towards patient empowerment and self-management of health conditions are few of the other factors that contribute to the substantial expansion of the OTC segment in the market.
  

Based on distribution channel, the market is classified into hospital pharmacies, retail pharmacies, and online pharmacy. The hospital pharmacies segment held the highest CAGR of 7.2% over forecast period.

• Hospital pharmacists along with orthopedissc professionals are taking on expanded roles in providing medication therapy management services to osteoarthritis patients. This may include medication counseling, adherence monitoring, dosage adjustments, and therapeutic interventions to optimize treatment outcomes and minimize adverse effects, thereby enhancing patient care and satisfaction.
  

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In 2023, North America secured a substantial market share of 41.1% in 2023 and is expected to dominate throughout the forecast period.

• The factors such as the increasing prevalence of osteoarthritis, supportive government policies, and product launches in the region is expected to contribute significantly to the market's growth over the projection period.
  
• Moreover, the aging population in North America is growing, leading to a higher prevalence of osteoarthritis diseases. This demographic trend along with presence of key players in the market is driving the product demand, thereby supplementing the regional market growth.
  

Osteoarthritis Drugs Market Share

The competitive landscape of the osteoarthritis drugs industry is characterized by the presence of established companies vying for market share. Key players are engaging in strategic initiatives such as mergers, acquisitions, and partnerships to strengthen their product portfolios. The companies are actively adopting a multi-pronged approaches to address the rising demand for effective osteoarthritis drugs.

Osteoarthritis Drugs Market Companies

Prominent players operating in the market are as mentioned below:

• Anika Therapeutics
• Assertio Holdings, Inc.
• Bayer AG
• Bioventus
• Ferring Pharmaceuticals Inc.
• GlaxoSmithKline plc
• Novartis AG
• Pacira Pharmaceuticals, Inc
• Pfizer Inc
• Sanofi SA
• Zimmer Biomet Holdings, Inc.
  

Osteoarthritis Drugs Industry News:

• In March 2023, Remedium Bio, a U.S. biotech company, and Exothera, a Belgian Contract Development and Manufacturing Organization (CDMO), established a strategic collaboration to advance a disease-modifying gene therapy called AAV2-FGF18 for osteoarthritis. This partnership aims to combine their expertise and resources to develop and enhance the market presence of this innovative therapy.
  
• In August 2022, Shionogi & Co., Ltd., a Japanese pharmaceutical company, and Grünenthal GmbH, a German drugmaker, entered into a licensing agreement to commercialize injectable resiniferatoxin (RTX) in Japan for the treatment of pain in patients with osteoarthritis of the knee. This helped company to enhance its product offering and strengthen its market position.
  

The osteoarthritis drugs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 - 2032 for the following segments:

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Market, By Drug Type

• Viscosupplementation agents
• Nonsteroidal anti-inflammatory drugs
  • Naproxen
  • Aspirin
  • Diclofenac
  • Ibuprofen
  • Celecoxib
  • Meloxicam
  • Piroxicam
  • Ketoprofen
  • Other NSAIDs
• Analgesics
  • Duloxetine
  • Acetaminophen
• Corticosteroids
• Other drug types

Market, By Route of Administration

• Oral
• Parenteral
• Topical

Market, By Anatomy

• Ankle osteoarthritis
• Hip osteoarthritis
• Knee osteoarthritis
• Shoulder osteoarthritis
• Other anatomies

Market, By Medication

• Prescription drugs
• Over-the-counter drugs

Market, By Distribution Channels

• Hospital pharmacies
• Retail pharmacies
• Online pharmacy

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa