“Osteoarthritis Treatment Market: Global Demand, Growth Analysis &
Opportunity Outlook 2023”
The global osteoarthritis
treatment market is segmented into medications such as acetaminophen and
non-steroidal anti-inflammatory. Among these segments, acetaminophen segment is
expected to occupy top position in overall osteoarthritis treatment market
during the forecast period. However, the demand for non-steroidal
anti-inflammatory osteoarthritis medications is increasing owing to the growing
trend of use of off label drugs. Further, these medications provide effective
treatment of osteoarthritis pain. Moreover, less cost of off label drugs as
compared to labeled drugs is resulting in huge demand for non-steroidal
anti-inflammatory osteoarthritis medication.
Global osteoarthritis treatment
market is expected to flourish at a significant CAGR of 7.6% during the
forecast period. Moreover, the global osteoarthritis treatment market is
expected to garner noteworthy revenue by the end of 2023. Increasing geriatric
population, rising awareness about osteoarthritis therapies, increasing
disposable income, availability of advanced osteoarthritis treatment some of
the major factors fostering the growth of the global osteoarthritis
treatment market.
North America captured largest
market share of osteoarthritis treatment in 2016. Further, North America is
projected to continue its dominance over the forecast period. Riding on the
back of factors like increasing aging population and favorable reimbursement
policies, North-America is projected to contribute significantly to the growth
of the osteoarthritis market. Asia Pacific is anticipated to showcase lucrative
growth in osteoarthritis treatment market during the forecast period. Rapid
increase in aging population in Asia-Pacific economies and increasing
investment in healthcare sector is the major reason which is driving the demand
for osteoarthritis treatment in Asia-Pacific region.
Increasing Geriatric Population
Growing aging population is
increasing the penetration of ageing related diseases such as osteoarthritis.
According the United Nations, number of people aged over 60 is estimated to
account for 20% of the total global population by 2050. Furthermore, as per
Kanter Health Foundation, the prevalence of osteoarthritis is anticipated to
increase in the upcoming years. Consequently, the demand for osteoarthritis
treatment is likely to increase during the forecast period.
Rising Awareness
Growing awareness towards
osteoarthritis therapies and early adoption of healthcare treatments to
maintain fitness is envisioned to bolster the growth of the global
osteoarthritis treatment market in the upcoming years. Moreover, increasing
spending on the healthcare is expected to positively impact the growth of the
osteoarthritis treatment market.
However, high cost of treatment
and lack of awareness in undeveloped nations are some of the factors which are
likely to inhibit the growth of the global osteoarthritis treatment market in
the near future.
The
report titled “Osteoarthritis
Treatment Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of
the global osteoarthritis treatment market in terms of market segmentation by medications,
by route of administration, by therapies, by end user and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global osteoarthritis
treatment market which includes company profiling of GlaxoSmithKline plc, Pfizer
Inc, Novartis AG, Johnson & Johnson Limited, Abbott Laboratories, Merck
& Co, Eli Lilly and Company, Regeneron Pharmaceuticals, Abiogen Pharma Spa,
Ampio Pharmaceuticals and Smith & Nephew, Inc.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global osteoarthritis
treatment market that will help industry consultants, equipment manufacturers,
existing players searching for expansion opportunities, new players searching
possibilities and other stakeholders to align their market centric strategies
according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/osteoarthritis-treatment-market-global-demand-growth-analysis-opportunity-outlook-2023/195
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