It gives the awareness of its revenue production into the complete market compared to other vendors in the universe. It delivers insights into exactly how dealers are execution in terms of revenue initiation and consumer base compared to others. Knowing market share presents an idea of the size and vendor competitiveness for the base year. It uncovers the market descriptions in terms of growth, breakup, supremacy, and incorporation attributes. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.
Osteoarthritis Therapeutics Market Overview
The Osteoarthritis Treatment Market is expected to witness a CAGR of 6.76% over the forecast period, 2021-2028.
Osteoarthritis, also known as degenerative arthritis, is the most commonly occurring chronic condition that affects the joints. This leads to severe joint pain and stiffness of the affected body parts. Osteoarthritis can be treated by several treatments, which include exercise for reducing joint pain, and pain medications.
The rising geriatric population, increasing incidence of osteoarthritis, and rising demand for minimally invasive surgical procedures are some of the factors that have supported long-term expansion for Osteoarthritis Therapeutics Market.
The market for osteoarthritis therapeutics is anticipated to be marginally affected due to the outbreak of COVID-19. Among drug types, the use of corticosteroids has reduced. Although there is no evidence to suggest that corticosteroid injections lead to a substantial increase in the risk of infection, there is a possible reduction in the immune response for up to a few weeks following the procedure.
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Osteoarthritis Therapeutics Market Regional Analysis
The North American market is expected to grow, owing to the increasing lifestyle changes, an increasing number of obesity cases, and an extensive rise in the geriatric population in North America. As a result, the adoption of treatment and drugs is also increasing in the region. The availability of better treatment options, high awareness among people, government reimbursement policies, and the willingness to take up treatment is expected to add up to the growth of the osteoarthritis treatment market in the region.
Osteoarthritis Therapeutics Market Competitive Landscape
Key Players
• Sanofi SA
• Pfizer Inc.
• GlaxoSmithKline plc
• Zimmer Biomet
• Abbott Laboratories
• Bayer AG
• Anika Therapeutics
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Osteoarthritis Therapeutics Market Recent Developments
• In December 2020, Moebius Medical received the US Food and Drug Administration (FDA) clearance for its investigational new drug (IND) application to initiate a global multi-center Phase IIb clinical trial of MM-II, which is a novel candidate for the treatment of pain due to knee osteoarthritis (OA).
• In February 2020, Anika Therapeutics Inc. acquired Arthosurface, which led to the expansion of the joint preservation and restoration product portfolio.
Reasons to Acquire in the Osteoarthritis Therapeutics Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Osteoarthritis Therapeutics Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Frequently Asked Questions
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