The global osteoarthritis therapeutics market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 7.9 Billion |
Market Forecast in 2032
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US$ 15.0 Billion |
Market Growth Rate 2024-2032 | 7.1% |
Osteoarthritis (OA) is a heterogeneous condition characterized by progressive degeneration of cartilage in joints of the knees, hips, hands, feet, spine, shoulders and neck. OA generally leads to stiffness, swelling, tenderness, persistent pain, loss of flexibility, grating sensation, bone spurs and sleep disturbances. It can be diagnosed using physical examination, X-ray, arthroscopy, joint fluid analysis, blood tests and magnetic resonance imaging (MRI) scan. Various medications and surgical procedures are prescribed as per the different results to alleviate the signs and symptoms of the disease. Currently, alternative medicines, physical therapies and supportive devices are available in the market to relieve pain and improve joint function.
Sedentary lifestyles, unhealthy dietary patterns and the rising prevalence of obesity and blood sugar are increasing the risk of developing OA among individuals. This, in confluence with the growing geriatric population, which is more susceptible to such ailments, represents one of the key factors impelling the osteoarthritis therapeutics market growth. Apart from this, the easy access to MRI scans is acting as another major growth-inducing factor. Additionally, the development of imaging biomarkers based on radiographic features, coupled with the introduction of analgesic drugs, is contributing to the market growth. Furthermore, rising investments in the research and development (R&D) activities to launch new diagnostics and biomarkers, along with the increasing expenditures on improving healthcare infrastructure, is also driving the market. For instance, disease-modifying drugs are under development, which focus on proinflammatory cytokines for treating cartilage breakdown.
IMARC Group provides an analysis of the key trends in each sub-segment of the global osteoarthritis therapeutics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on anatomy type, drug type, route of administration and distribution channel.
Breakup by Anatomy Type:
Breakup by Drug Type:
Breakup by Route of Administration:
Breakup by Distribution Channel:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Pfizer Inc. and Sanofi S.A.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Billion |
Segment Coverage | Anatomy Type, Drug Type, Route of Administration, Distribution Channel, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Pfizer Inc., Sanofi S.A |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global osteoarthritis therapeutics market was valued at US$ 7.9 Billion in 2023.
We expect the global osteoarthritis therapeutics market to exhibit a CAGR of 7.1% during 2024-2032.
The rising prevalence of obesity, along with the introduction of imaging biomarkers that offer radiographic features, is primarily driving the global osteoarthritis therapeutics market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective osteoarthritis surgical procedures to reduce the risk of the coronavirus infection upon hospital visits and interaction with healthcare professionals, thereby negatively impacting the global market for osteoarthritis therapeutics.
Based on the anatomy type, the global osteoarthritis therapeutics market has been divided into knee, hip, hand, spine, and others, where knee currently holds the majority of the total market share.
Based on the drug type, the global osteoarthritis therapeutics market can be segmented into nonsteroidal anti-inflammatory drugs, analgesics, corticosteroids, and others. Currently, nonsteroidal anti-inflammatory drugs exhibit a clear dominance in the market.
Based on the route of administration, the global osteoarthritis therapeutics market has been categorized into parenteral, topical, and oral. Among these, parenteral currently accounts for the largest market share.
Based on the distribution channel, the global osteoarthritis therapeutics market can be bifurcated into hospitals, specialty clinics, medical institutions, and others. Currently, hospitals exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global osteoarthritis therapeutics market include Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, Flexion Therapeutics Inc., GlaxoSmithKline Plc, Horizon Therapeutics Plc, Johnson & Johnson Inc., Pfizer Inc., and Sanofi S.A.