The growth of the global osteoarthritis treatment market is due to the rising geriatric population, increasing incidence of osteoarthritis, and rising demand for minimally invasive surgical procedures.
The global increase in the geriatric population leads to a higher incidence of osteoarthritis (OA) among the aged population. It is the most common type of joint disease, found in people aged more than 65 years, which is accompanied by mortality and decreased quality of life. Osteoarthritis (OA) is one of the most common causes of pain and disability in the elderly population and is driving the growth of the market.
In addition, there are many osteoarthritis research studies ongoing on cartilage, the lubricating surface in the joint. The work is being done to re-grow the cartilage using stem cells treated with molecules to aid their growth. Hence, ongoing research and rising government support help in creating new opportunities for the growth of the osteoarthritis treatment market.
Key Market Trends
Non-steroidal Anti-inflammatory Drugs (NSAIDs) is the Largest Segment Under Drugs that is Expected to Grow During the Forecast Period
The NSAIDs market is expected to grow during the forecast period, as they are found to be the most commonly used drugs to ease pain, inflammation, and stiffness that come with arthritis, bursitis, and tendinitis. Thus, NSAIDs have been an important treatment for the symptoms of osteoarthritis for a very long time. They are also cheap and often among the first medicines prescribed for people with achy joints.
The hyaluronic acid injections are also used as a treatment option, when a patient is no longer able to control osteoarthritis pain with ibuprofen or other non-steroidal anti-inflammatory drugs (NSAIDs).
North America has been reported with the Fastest and the Largest Growth and is Expected to follow the Same Trend over the Forecast Period
The North American market is expected to grow, owing to the increasing lifestyle changes, an increasing number of obesity cases, and an extensive rise in the geriatric population in North America. As a result, the adoption of treatment and drugs is also increasing in the region. The availability of better treatment options, high awareness among people, government reimbursement policies, and the willingness to take up treatment is expected to add up to the growth of the osteoarthritis treatment market in the region.
Various manufacturers are expanding, owing to new product launches in the market. These manufacturers have also seen positive developments in the United States, Europe, Latin America, and Asia. There are also strict regulatory policies, which have resulted in a reduction of investments made by the drug companies in the R&D of new products. In the coming years few other players are expected to enter into the market
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