Osteoarthritis Therapy Market is expected to reach US$ 30,676.10 million by 2030

Physical Therapy Segment Expected to Hold Significant Market Share of Osteoarthritis Therapy Market During 2022–2030

According to our latest study on "Osteoarthritis Therapy Market Forecast to 2030 – Global Analysis – Product, Technology, Application," the market is expected to reach US$  30,676.10 million by 2030 from US$ 17,358.64 million in 2022. The report emphasizes the key factors driving the market and prominent players' developments. Factors such as the rising prevalence of osteoarthritis and the availability of innovative therapy options reducing dependency on medications propel the osteoarthritis therapy market growth. However, product recalls impeding the market growth.

Osteoarthritis is the most common type of arthritis that mostly affects middle-aged and older people. Osteoarthritis, which usually affects the hands, hips, spine, or knees, is caused by a breakdown in joint cartilage and an overgrowth of bone surrounding the joint. Physical interventions such as physical therapy and exercise, oral and topical drugs, joint injections, and surgical procedures are all part of osteoarthritis treatment and therapy.

Innovative Therapy Options Reducing Dependency on Medications

The non-pharmacologic therapy is a key facet of treating OA. With lifestyle changes and medicines, patients suffering from OA may benefit from various supportive therapy options, including hot or cold packs and assistive devices. Additionally, complementary and alternative therapy options such as nutritional supplements and rubefacients may help in managing OA. Further, topical treatments, supervised exercises, neuromuscular training, self-management, patient education, and weight loss intervention are among the best treatments suited for OA.

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.

Osteoarthritis Therapy Market, by Therapy Type:

Based on therapy type, the osteoarthritis therapy market analysis is carried out by considering the following segments: Transcutaneous Electrical Nerve Stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma therapy and stromal vascular fraction, prolotherapy, and others. The physical therapy segment held a larger osteoarthritis therapy market share in 2022. The other segment is anticipated to register the highest CAGR of 7.5% during the forecast period. Physical therapies, such as yoga, help improve physical function in patients affected by knee osteoarthritis. The clinical study reveals that the patients suffering from knee osteoarthritis receiving physical therapy (PT) have gained more quality-adjusted life-years compared to those receiving glucocorticoid injections. Additionally, physical therapy is clinically more effective than glucocorticoid injection; moreover, it is perceived as a more cost-effective option.

Physical therapy sessions intended for osteoarthritis can be accessible through online resources, particularly in crisis scenarios such as the COVID-19 pandemic. Also, the sessions through online interventions can reach a wide audience with low or no cost. Patients can join the virtual sessions at home at their comfort and convenience. The aforementioned benefits of physical therapy would provide lucrative opportunities for the osteoarthritis therapy market during the forecast period.

The other segment is estimated to register the highest CAGR for the osteoarthritis therapy market. Another therapy is rehabilitation therapy for osteoarthritis. The rehabilitation program is designed to reduce pain and increase functionality quickly. The main goal of the rehabilitation is to relieve symptoms of knee OA and slow down its progression. The future perspective and rehabilitation include nonpharmacological management of OA followed by exercise, which is effective in improving quality of life, joint function, muscle power, strength, and functional performance. Such factors are expected to positively influence the osteoarthritis therapy market size.

Osteoarthritis Therapy Market, by Disease Indication:

By disease indication, the market is segmented into knee osteoarthritis, spine osteoarthritis, foot and ankle osteoarthritis, shoulder osteoarthritis, hand osteoarthritis, and others. The knee osteoarthritis segment held the largest osteoarthritis therapy market share in 2022 and is anticipated to register the highest CAGR of 7.7% during the forecast period. According to the National Academy of Science report, knee osteoarthritis (KO) accounts for more than 80% of the total disease burden, affecting nearly 19% of American adults aged 45 years and above annually. Launches of innovative products by manufacturers can help reduce the burden of knee osteoarthritis. In September 2021, Contura International Ltd announced a new product launch, "Arthrosamid," an alternative to current therapy that fulfills an unmet clinical need for a safe, effective, long-acting, and minimally invasive treatment for alleviating pain associated with knee OA. Therefore, the rising prevalence of knee OA and innovative product launches to minimize osteoarthritis pain drive the osteoarthritis therapy market growth.

Osteoarthritis Therapy Market, by End User:

By end user, the market is segmented into hospitals & clinics, specialty clinics, ambulatory surgical centers, homecare, and others. The homecare segment held the largest osteoarthritis therapy market share in 2022. The hospitals & clinics segment is estimated to register the highest CAGR of 7.5% during the forecast period. The first and foremost remedy to overcome arthritis is reducing excess body weight. Additionally, hot and cold therapies can bring back flexibility in the stiff joints, which can help reduce joint pain. The use of electric blankets or moist heating pads proves helpful in reducing pain. However, cold treatments such as packs of ice or bags of frozen vegetables can be applied to the affected joints, giving relief. The availability of such treatment options proves to be a successful remedy for managing osteoarthritis at home, which drives the osteoarthritis therapy market growth for the homecare segment.

Osteoarthritis Therapy Market, by Geography:

Based on geography, the osteoarthritis therapy market report is primarily divided into North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Increasing developments of new therapeutics and drugs approved by regulatory authorities and several market players offering new products help in the market expansion. Additionally, innovative therapy options reducing dependency on medications and the rising prevalence of osteoarthritis drive osteoarthritis therapy are the most influential factors. The strategic presence of key players positioned North America as a key region for the osteoarthritis therapy market growth in 2022.

Apart from factors driving the market, the osteoarthritis therapy market report emphasizes prominent players' developments. 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, and Zealmax Innovations Pvt Ltd are among the prominent players in operating in the market.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com