SEATTLE, Sept. 5, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global osteoarthritis drugs market is estimated to be valued at US$ 8,592.2 million in 2022 and is expected to exhibit a CAGR of 8.2% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Osteoarthritis Drugs Market:
The increasing number of launch by the market players for the treatment of osteoarthritis is expected to boost the growth of global osteoarthritis drugs market over the forecast period. For instance, in May 2020, Kitov Pharma Ltd., a clinical-stage company, announced the U.S. commercial launch of Consensi, a fixed-dose combination of celecoxib and amlodipine besylate, designed for the simultaneous treatment of hypertension and osteoarthritis pain. Consensi is being sold in the U.S. by Burke Therapeutics, a Pharmaceutical Company, the marketing partner of Kitov's U.S. distributor, Coeptis Pharmaceuticals, a biopharmaceutical company.
Increasing research and development by the market players in osteoarthritis is expected to drive the growth of global osteoarthritis drugs market over the forecast period. For instance, in December 2021, Radius Health, Inc., a Biotechnology Company, announced phase 3 topline results from the wearABLe study evaluating the non-inferiority (NI) of abaloparatide transdermal system (abalo-TDS) compared to abaloparatide subcutaneous injection (TYMLOS) in postmenopausal women with osteoporosis. The wearABLe study did not meet its primary endpoint of NI for abalo-TDS 300 micrograms (ug) vs. TYMLOS 80 ug in the percent change from baseline in lumbar spine (LS) bone mineral density (BMD) at 12 months based on a NI margin of 2.0%. Whereas, the wearABLe study data and technical details are to be analyzed and utilized as a basis for future abalo-TDS plans.
Increasing drug approval by the U.S. FDA (Food and Drug Administration) in the treat osteoarthritis is expected to boost the growth of global osteoarthritis drugs market over the forecast period. For instance, in September 2021, FDA grants fast track status to Novartis, a global healthcare company, LNA043 for knee osteoarthritis. An ANGPTL3 agonist, the drug targets the damaged cartilage to induce its regeneration. LNA043 is an angiopoietin-like 3 (ANGPTL3) agonist.
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Key Market Takeaways:
Among drug class, the Nonsteroidal Anti-Inflammatory Drugs (NSAIDs) segment held a dominant position in the osteoarthritis drugs market, owing to increasing use of NSAIDs (Non-Steroidal Anti-Inflammatory Drugs) in treating patients with arthritis in the market over the forecast period. For instance, in September 2021, according to the reports published by Research Gate, a Social networking service, on basis of Cochrane Central Register of Controlled Trials (CENTRAL), Medline, Embase, regulatory agency websites, and ClinicalTrials.gov from inception to 28 June 2021, which states that Etoricoxib 60 mg/day and diclofenac 150 mg/day seem to be the most effective oral NSAIDs for osteoarthritis pain, whereas Topical diclofenac 70-81 mg/day could be effective and safer due to reduced systemic exposure and lower dose, and should be considered as a ?rst line pharmacological treatment for knee osteoarthritis.
North America is expected to hold the largest share in global osteoarthritis drugs market and is estimated to exhibit a CAGR of 8.2% during the forecast period (2022-2030), owing to increasing number of organic growth strategies such as acquisition by the market players is expected to boost the growth of global osteoarthritis drugs market over the forecast period. For instance, in December 2021, Avanos Medical, Inc., a medical technology company, announced that it had entered into a definitive agreement to acquire OrthogenRx, Inc., a medical device company, for a total consideration of US$ 160 million. The purchase price consists of US$ 130 million in cash at closing plus an additional US$ 30 million in contingent cash consideration, payable upon the achievement of the company's commercial hyaluronic acid (HA) therapy products, GenVisc 850 and TriVisc. This acquisition will help the company in further expansion by providing continuum of care treatment options for patients living with knee OA (osteoarthritis).
Key players operating in the global osteoarthritis drugs market include Pfizer, Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Therapeutics plc, Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Sanofi, Regeneron, GlaxoSmithKline Plc., Johnson & Johnson Private Limited, Bayer AG, Novartis AG, Ferring B.V., Pacira Pharmaceuticals, Inc, Zimmer Biomet, OrthogenRx, Inc. and PHARMED LTD.
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Detailed Segmentation:
Global Osteoarthritis Drugs Market, By Drug Class:
- Analgesics
- Non-steroidal Anti-Inflammatory Drugs
- Corticosteroids
- Hyaluronic Acid
- Phase III Drugs
Global Osteoarthritis Drugs Market, By Route of Administration:
- Oral
- Parenteral
- Topical
Global Osteoarthritis Drugs Market, By Disease Type:
- Ankle Osteoarthritis
- Hip Osteoarthritis
- Knee Osteoarthritis
- Shoulder Osteoarthritis
- Others (Spinal Osteoarthritis and Cervical Osteoarthritis)
Global Osteoarthritis Drugs Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Osteoarthritis Drugs Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
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