The osteoarthritis therapy market size is projected to reach US$ 30,676.10 million by 2030 from US$ 17,358.64 million in 2022. The market is expected to register a CAGR of 7.4% during 2022–2030. More effective treatment options are likely to remain key trends in the market.
Availability of regenerative medicine provide lucrative market opportunity in the coming years. Regenerative therapy options such as "Matrix-Induced Autologous Chondrocyte Implantation (MACI)” is one such example. MACI can repair small areas of cartilage thereby ultimately preventing or postponing OA. Further, top manufacturers are developing innovative products focussing on regenerative therapy advanced product. In September 2022, Alkem Laboratories announced receiving regulatory approval from the Drug Controller General of India (DCGI) for "StemOne" in India. "StemOne" is the first allogenic cell therapy product for commercial use for knee osteoarthritis in India. Therefore, companies launching regenerative medicine is an influential factor responsible to account considerable market growth during 2020-2030. More effective treatment options for OA is likely to remain key trends in the market.
Innovative therapy option thereby reducing dependency on medications to treat OA is an influential factor responsible for market growth. In osteoarthritis knee pain (OKP) treatment, knee braces are used to reduce knee pain as these braces may apply compression (pressure) to soft tissues, stabilize the knee, and redistribute weight. A few examples of knee braces are compression sleeves, hinged knee braces, and unloader knee braces. Also, these compression braces are easily available at drugstores, pharmacies, and online channels. Therefore, availability of innovative therapy options reduces dependency on medications, which drives the osteoarthritis therapy market growth in the coming decade.
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Osteoarthritis Therapy Market: Strategic Insights
Globally, OA affects more than 500 million people accounting 7% of the world's population according to the CDC report. It represents a major cause of long-term disability. Additionally, osteoarthritis is more prevalent among athletes and people who suffer from joint injury or trauma. Moreover, it is highly prevalent among women, accounting for 60% of global osteoarthritis cases. Further, the World Health Organization (WHO) report, osteoarthritis is more prevalent among older population. Thus, with the rising prevalence of OA, new therapy options such as biological therapy is gaining attention worldwide. Transcutaneous Electrical Nerve Stimulation (TENS) is an example of a treatment option to treat OA. TENS helps minimize acute and chronic pains by reducing the need for medications. Therefore, rising prevalence of OA accelerates demand for innovative treatment options, reducing the dependency on medications resulting in reduction in healthcare costs acting as one of the major drivers for global osteoarthritis therapy market share.
Regenerative medicine is a new and potentially transformative alternative to traditional therapy options to treat OA. Regenerative medicine utilizes biomedical engineering, biomaterials, and cell therapies that target the body's immune system to treat OA. Rising inclination toward non-surgical approaches such as PRP therapy, stem cell therapy, hyaluronic acid injections, and prolotherapy would propel the adoption of regenerative medicine. Patients suffering from OA can be treated using non-pharmacological therapies however, regenerative therapy options can improve joint functions by ultimately reducing pain and enhancing the overall quality of life for individuals suffering from OA. Thus, availability of regenerative medicine is likely to create lucrative opportunities for the osteoarthritis therapy market in the coming years.
Key segments that contributed to the derivation of the osteoarthritis therapy market analysis are therapy type, disease indication, end user.
The geographic scope of the Osteoarthritis Therapy market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. In North America region, the US accounts largest share for osteoarthritis therapy market. Presence of top manufacturers in the region and their innovative technologically advanced products are the factors contributing to the dominance of the market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Osteoarthritis Therapy Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Osteoarthritis Therapy Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 17,358.64 Million |
| Market Size by 2030 | US$ 30,676.10 Million |
| Global CAGR (2022 - 2030) | 7.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Therapy Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Osteoarthritis Therapy Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Osteoarthritis Therapy Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The osteoarthritis therapy market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the osteoarthritis therapy market are listed below:
The “Osteoarthritis Therapy Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The CAGR for osteoarthritis therapy accounted 7.4% during 2023-2031.
The estimated value of osteoarthritis therapy market accounted US$ 31.5 billion in 2031.
More effective treatment options is likely to remain as a key trend for osteoarthritis therapy market.
Vision Quest Industries Inc, Dr. PRP USA LLC, Estar Technologies Ltd, Zimmer Biomet Holdings Inc, DePuy Synthes Inc, Bioventus Inc, Omron Healthcare Inc, Exactech Inc, Medi GmbH & Co KG, Zealmax Innovation Pvt Ltd are the key players in the osteoarthritis therapy market.
Rising prevalence of osteoarthritis to favour market is one of the most influential factors responsible for market growth.
North America region dominated the osteoarthritis therapy market in 2023.
