Osteoarthritis Market By Key Players, Status, Growth, Revenue, SWOT Analysis Forecast Outlook 2030
Market Synopsis:
The Osteoarthritis
Market is anticipated to reach USD 8,751 Million by 2030 at 9.10% CAGR
during the forecast period 2022-2030. The development in pain management
industry is one of the critical factors
responsible for the expansion of osteoarthritis market.
The
exponentially thriving geriatric population is one of the key drivers of the market growth as
osteoarthritis is commonly found among the old people. According to National
Institutes of Health (NIH), the geriatric population is going to get almost
doubled up from 48 Million in 2015 to 88 Million by 2050.
Another factor
responsible for the flourishing market is the catalyzed prevalence of
osteoarthritis. Centers for Disease Control and
Prevention (CDC) has published in its report that about 78 million
adults, which accounts for 26% of the U.S. adult population, are estimated to
be diagnosed with arthritis by 2020.
Global Osteoarthritis Market Segmentation:
·
By type, the market is segmented into hip osteoarthritis, wrist
osteoarthritis, spinal
osteoarthritis, and, others.
·
By diagnosis, the market has been segmented into imaging, joint fluid analysis,
and, others. The imaging segment is further sub-segmented into X-rays, magnetic
resonance imaging (MRI), and, others.
·
By treatment, the market is segmented into medication, surgery, therapy, and, others.
The medication segment is further sub-segmented into analgesics and
non-steroidal anti-inflammatory drugs, and, others. The analgesics sub-segment is further segmented into
acetaminophen, duloxetine, and others. And, the non-steroidal anti-inflammatory
drugs sub-segment is further segmented
into aspirin, ibuprofen, naproxen sodium and naproxen, and, others.
·
By
end users, the
osteoarthritis market is segmented into hospitals &
clinics, medical institutes, research organization, and others.
Regional Analysis:
By Region, the global osteoarthritis market has been
segmented into Middle East & Africa, Asia Pacific,
America, and, Europe. America market will dominate the global market owing to
factors such as rising incidence of osteoarthritis, increasing population of
obese people, booming healthcare sector, technological advancements, etc.
According to CDC, in 2015, the total healthcare expenditure in the U.S.
accounted for USD 3.2 Trillion which was 17.8% of the overall Gross Domestic Product (GDP).
Europe market trails America in terms of market share. The factors responsible for the growth of the market
in this region are the availability of
funds for research coupled with government’s support, growing population of
patients, increasing healthcare expenditures, and, standard healthcare sector.
The Europe market is segmented into Western Europe market and Eastern Europe
market. The Western Europe market dominates the region with significant contributions from Germany, the
U.K., and, France. The Eastern Europe
market also will exhibit growth during the forecast period owing to unexploited
opportunities available there.
Asia Pacific
region will demonstrate fastest growth in the global market owing to the presence
of emerging economies such as India and China,
favorable government policies, increased healthcare expenditure, etc.
According to Indian Brand Equity Foundation (IBEF) in 2017, the Indian
healthcare sector was one of the fastest growing industries. It is expected to
expand at 22.87% CAGR during the review period and reach a market valuation of USD 280 Bn by 2020.
A significant proportion of the market is
dominated by prominent players who persistently endeavor to gain an edge over
others through acquisitions & mergers, clinical trials, investments in
research & development activities, collaborations, etc.
Novartis
recently acquired acquisition of AveXis, Inc. ("AveXis") by the
consummation of a merger of its indirect wholly owned subsidiary, Novartis AM
Merger Corporation ("Merger Sub"). AveXis is now an indirect wholly
owned subsidiary of Novartis. AveXis' shares have now stopped being traded on
the NASDAQ Global Select Market.
COVID 19
Analysis
In the current
situation, diseases other than covid-19 are paid less heed. And this has
affected the osteoarthritis market drastically. During the pandemic, every
single business small, medium, or big has faced negative impacts. It is
expected by the year 2022 the things will get back to normal due to initiation
in the process of vaccination.
Some of the key players of the market profiled by MRFR in its latest report are
Novartis AG (Europe), Eli Lilly and Company. (U.S.), Merck Sharp
& Dohme Corp. (U.S.), Ampio Pharmaceuticals Inc. (U.S.), Abbott. (U.S.),
Pfizer Inc. (U.S.), ABIOGEN PHARMA S.p.A (Europe), TissueGene Inc. (U.S.),
Regeneron (U.S.).
Related Report-
https://tannda.net/read-blog/12259
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