Rising incidences of surgeries, increasing technological advancements, increasing number of pipeline drugs, and rising awareness about health care are some of the key factors driving the growth of the global osteoarthritis market.
New York, NY -- (SBWIRE) -- 12/29/2017 -- Arthritis refers to inflammation of the joint, accompanied by joint pain and stiffness. It may be acute or chronic. Redness of the affected part and swelling are some of the common symptoms of arthritis. Obesity, infections, crystal deposition, joint injury, and old age are some of the common causes associated with arthritis. Osteoarthritis and rheumatoid arthritis are two common types of arthritis. Rheumatoid arthritis is an auto-immune disorder, which results in inflammation of joints of the hands and feet.
It occurs when an individual's immune system attacks his/her own body tissues. Osteoarthritis is a chronic disease, which affect joints, including ligament, cartilage, joint lining, and underlying bones. This disease results in joint pain and stiffness due to the breakdown of cartilage. It is also known as Degenerative Joint Disease (DJD). Primary osteoarthritis and secondary osteoarthritis are the two commonest forms of osteoarthritis. Primary osteoarthritis results from abnormal stress on weight bearing joints.
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This is mostly common in the aging population. Secondary osteoarthritis refers to sudden and chronic injury in the joints. Metabolic disorders, trauma, joint surgery, poor bone alignment, and diabetes are some of the common causes leading to osteoarthritis. Some of the commonest tests used to diagnose osteoarthritis include joint fluid analysis, blood tests, X-rays, and magnetic resonance imaging scans.
Medications such as acetaminophen and nonsteroidal anti-inflammatory drugs are used for osteoarthritis treatment. Nonsteroidal anti-inflammatory drugs include ibuprofen and naproxen. Physical therapy, occupational therapy, chronic pain class, and braces are some of the therapies associated with osteoarthritis. Moreover, osteoarthritis treatment includes surgical procedures such as lubrication injections, cortisone shots, and joint replacement.
Currently, North America dominates the global osteoarthritis market, followed by Europe. This is due to the rising prevalence of osteoarthritis diseases and growing geriatric population in these regions. In addition, increasing access to health care insurance, especially in the U.S., is also influencing the growth of the osteoarthritis market. Asia is expected to be the fastest growing market in the next five years. This is due to the rising health care infrastructure and increasing government initiatives for better health care facilities in this region. Moreover, a large patient population base is driving the growth of the osteoarthritis market in this region.
Rising incidences of surgeries, increasing technological advancements, increasing number of pipeline drugs, and rising awareness about health care are some of the key factors driving the growth of the global osteoarthritis market. In addition, rising disposable income in developing countries is also fueling the growth of the global osteoarthritis market. However, stringent regulatory policies and less adoption of osteoarthritis treatment are restraining the growth of the global osteoarthritis market. In addition, side effects associated with osteoarthritis medications are also impeding the growth of this market.
Emergence of new and cost effective medication options for the treatment of osteoarthritis could open up new opportunities for new players in the global osteoarthritis market. In addition, emerging markets, such as India and China, could also open new opportunities for new players. Increasing number of strategic alliances between various companies, rising number of product innovations, and increase in the number of clinical trials for pain reliving biologic drugs, such as anti-NGFs, are among the recent market trends in the global osteoarthritis market. The major companies operating in this market are Abbott Laboratories, Johnson & Johnson Limited, Novartis AG, Pfizer, Inc., and Eli Lilly and Company. Some of the other companies operating in this market are Ampio Pharmaceuticals, Abiogen Pharma, and BioDelivery Sciences International, Inc.
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