Osteoarthritis Therapeutics Market Size, Share, Growth, Forecast 2033
The global osteoarthritis therapeutics market size was exhibited at USD 8.69 billion in 2023 and is projected to hit around USD 16.97 billion by 2033, growing at a CAGR of 6.92% during the forecast period 2024 to 2033.
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Key Takeaways:
The osteoarthritis therapeutics market shows promising growth prospects, driven by factors such as the increasing prevalence of osteoarthritis, particularly among the aging demographic, and substantial investments in R&D for new therapies. As per CDC data released in June 2023, the U.S. alone has over 32.5 million osteoarthritis patients, underscoring the demand for effective treatments in the market. Continued advancements in understanding the disease and developing therapeutic solutions are expected to fuel market expansion.
Arthritis is a serious health crisis and OA is the most common form of arthritis. According to the revised report on OA Prevalence & Burden by the Osteoarthritis Action Alliance (OAAA) as of October 2023, the total economic burden attributed to OA in the U.S. amounts to USD 136.8 billion annually. Furthermore, according to arthritis health data published in January 2021, women aged 50 to 60 are 3.5 times more likely to develop hand OA, 40% more likely to develop knee OA, and 10% more likely to develop hip OA than men. Some of the main causes of high risk of developing OA in women are changes in hormone levels due to menstruation & menopause and differences in the musculoskeletal system. Moreover, according to National Institutes of Health, U.S. women are more likely to be obese than men; obesity increases the risk of OA. Data reveals OA as a prevalent and costly health crisis, with women at higher risk. Understanding demographic trends and risk factors notifies market expansion during forecast period, targeting effective solutions for affected populations.
Managing osteoarthritis is challenging due to its avascular, dense tissue structure. The introduction of intra-articular (IA) drug administration has accelerated targeted drug delivery development. Disease-modifying drugs and adaptive carriers are expected to boost R&D for novel OA treatments. Market players take various initiatives that further contribute to market expansion. For instance, in June 2022, OrthoTrophix, Inc. presented clinical data and a registration plan for TPX-100 for knee OA at BIO 2022. Additionally, key pharmaceutical companies and research institutes actively engage in R&D, particularly for disease-modifying OA drugs, in January 2024, BioSenic presented Phase 3 data at the 2024 OARSI World Congress, revealing JTA-004's efficacy in treating severe inflammatory knee osteoarthritis. The post hoc analysis concludes JTA-004 is safe and effective, offering targeted pain management for this specific subtype of condition. Such advancements in targeted drug delivery and disease-modifying drugs for OA, demonstrated by presentations and positive trial results, drive market expansion for novel treatments.
Osteoarthritis Therapeutics Market By Trends
U.S. Osteoarthritis Therapeutics Market Trends
The osteoarthritis therapeutics market in the U.S. is expected to grow at the fastest CAGR over the forecast period, due to the strong pharmaceutical industry, with leading players and innovators like Zimmer Biomet, Bioventus and Remedium Bio driving innovation in the field, particularly in the development of advanced therapeutics. In March 2023, Remedium Bio, a U.S. biotech company, formed a strategic collaboration with Exothera, a Belgian CDMO, focusing on advancing disease-modifying gene therapy, AAV2-FGF18, for osteoarthritis. This initiative aims to leverage expertise and resources for the development & enhancement of potential market presence of its innovative therapy.
Europe Osteoarthritis Therapeutics Market Trends
The osteoarthritis therapeutics market in Europe presents a lucrative opportunity for pharmaceutical companies, with significant growth potential in the region, driven by the rising prevalence of OA, particularly in aging populations. Pharmaceutical advancements and a growing focus on disease-modifying drugs contribute to market expansion. Regulatory trends emphasize stringent evaluation criteria for drug efficacy and eligibility criteria in clinical trials. Viscosupplementation agents dominate, offering effective symptom management. The market evolution involves precision medicine approaches and multicenter trials for robust evaluation.
The UK osteoarthritis therapeutics market is expected to grow at the fastest CAGR over the forecast period, due to several factors, such as ongoing studies and physiotherapy treatment for people with painful knee osteoarthritis (KOA). For instance, in January 2023, the University of Salford and Northern Care Alliance NHS Foundation Trust collaborated on physiotherapy research for KOA patients. Cognitive Muscular Therapy (CMT) aims to reduce muscle overactivity and integrate better movement habits into daily life. Early tests showed positive results, leading to a two-year grant for further studies. The feasibility study, starting in 2023, will compare CMT with usual care for KOA patients who haven't benefited from standard physiotherapy exercises.
The osteoarthritis therapeutics market in France is influenced by trends such as rising incidence due to the aging population and increasing obesity rates. Major players such as Sanofi are active, while COVID-19 initially impacted the market but is expected to rebound alongside ongoing research and development efforts.
The Germany osteoarthritis therapeutics market is expected to grow at the fastest CAGR over the forecast period. Germany's osteoarthritis therapeutics market is driven by factors such as an aging population, increasing obesity rates, and rising injury incidents. Major players like Bayer AG focus on R&D to meet demand. The market is projected to grow, influenced by similar factors.
Asia Pacific Osteoarthritis Therapeutics Market Trends
The Asia Pacific osteoarthritis therapeutics market is expanding due to high prevalence, increased healthcare spending, population growth, medical advancements, regulatory support, and improved awareness. It's projected to experience significant growth, driven by aging populations and treatment innovation in countries such as China, Japan, and India. Pharmaceutical firms are investing in research. According to a study published by The Lancet in September 2023, globally, 595 million people had osteoarthritis in 2020, with the Asia Pacific region accounting for a prevalence of 8632.7 per 100,000. Such high figures indicate an increasing demand for therapeutics in the region.
The osteoarthritis therapeutics market in China is expected to grow at the fastest CAGR over the forecast period, due to factors such as increasing prevalence, adoption of pain medications, a growing susceptible population, emerging markets, collaborations for product development, and a favorable regulatory scenario, driving demand for both symptomatic relief and disease-modifying treatments.
The Japan osteoarthritis therapeutics market is expected to grow at the fastest CAGR over the forecast period, due to rapidly expanding market, with Japanese pharma firms entering the space and observing growing demand due to lifestyle changes. For instance, in August 2022, Shionogi and Grünenthal collaborated to commercialize knee osteoarthritis treatment RTX in Japan. Shionogi holds exclusive distribution rights, Grünenthal manages development and manufacturing. The deal includes upfront payment, potential royalties exceeding USD 500 million.
Latin America Osteoarthritis Therapeutics Market Trends
The osteoarthritis therapeutics market in Latin America is expected to grow at the fastest CAGR over the forecast period. According to an NCBI published article in January 2022, Limited evidence suggests weight-bearing osteoarthritis (OA) is a significant issue in Latin America, impacting health-related quality of life (HRQoL) and posing economic challenges. Gaps exist in understanding HRQoL and socioeconomic outcomes, emphasizing the need for further research, especially in regions with limited healthcare resources. Addressing this burden is crucial to improving patient outcomes, particularly in areas with restricted healthcare access. More research is needed to better understand its impact and find ways to alleviate the challenges faced by those affected in Latin America. Addressing the burden of weight-bearing osteoarthritis in Latin America presents an opportunity for market expansion by developing tailored solutions to improve patient outcomes and access to healthcare.
The Brazil osteoarthritis therapeutics market is expected to grow at the fastest CAGR over the forecast period. According to an NCBI article in 2019, osteoarthritis (OA) is highly prevalent in Brazil, being the third most common disease among those insured for Social Security, contributing to 65% of disability cases. With a 33% prevalence among Brazilian adults, the aging population, expected to triple by 2050, will likely exacerbate OA's prevalence and treatment demand.
MEA Osteoarthritis Therapeutics Market Trends
The osteoarthritis therapeutics market in MEA is expected to grow at the fastest CAGR over the forecast period, due to an aging population, increased adoption of viscosupplementation, drug development innovations, regulatory approvals, anatomical segmentation focusing on knee osteoarthritis, and diverse distribution channels, reflecting a expanding landscape.
The Saudi Arabia osteoarthritis therapeutics market is expected to grow at the fastest CAGR over the forecast period. Market players in the region are taking various initiatives to contribute to market expansion. For instance, in June 2023, Pennsylvania-based Levolta Pharmaceuticals entered into an exclusive licensing and distribution agreement with Saudi Arabia's Tabuk Pharmaceutical Manufacturing Company to commercialize VOLTO1, a therapy for osteoarthritis, in the Middle East and Africa region, excluding South Africa.
Recent Developments
Some of the prominent players in the Osteoarthritis therapeutics market include:
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