The Global Osteoarthritis Drugs Market Continues To Grow Owing To the Increased Incidents of Rheumatoid Arthritis in Patients and Institutional Initiatives to Collaborate With Key Players

 

Osteoarthritis Drugs include non-steroidal anti-inflammatory drugs (NSAIDs), which are usually used in cases where there is an acute onset of pain in the joint. Osteoarthritis is also commonly known as Degenerative Joint Disease (DRD) and is caused due to wear and tear of the joints. Osteoarthritis involves the wearing away of cartilage which prevents the knee to bend properly or fully. It usually occurs in large bone joints like hips, hands, wrists, and knees; however, it can also affect the small bone joints like finger joints, shoulders, and toes. Osteoarthritis causes swelling and redness of the joints, making the patient susceptible to injuries and further aggravate the condition. Some Osteoarthritis Drugs like Delexan, Glucosamine, and Chondroitin Sulfate are used to reduce inflammation of the joints by neutralizing and controlling the enzymes that cause inflammation in the joints. In certain cases, the Osteoarthritis Drugs like Motrin, Advil, and Tylenol can be used for relieving the pain in the joints for the short term. Some of the Osteoarthritis Drugs that are included in the treatment options include acetaminophen, NSAIDs, corticosteroids, and non-steroidal anti-inflammatory drugs.

Market Dynamics                                               

The main factor driving the growth of the Osteoarthritis Drugs market is the increased events of rheumatoid arthritis in patients. According to Rheumatoid Arthritis. Org Facts, in October 2018, approximately 1.3 million people in the United States and over 1% population of the world was diagnosed with rheumatoid arthritis. Moreover, the increasing prevalence of deskbound lifestyle and obesity is also influencing the growth of the market positively. According to World Health Organization (WHO) in February 2018, approximately 1.9 billion individuals over the age of 18 were diagnosed with obesity across the globe.

However, the availability of treatments only when the symptoms arise instead of a permanent diagnosis of osteoarthritis is the major restraining factor hindering the growth of the market. Regular intake of non-steroidal anti-inflammatory drugs (NSAID) during the treatment of osteoarthritis can cause cardiovascular emergencies such as stroke and heart attack, which is estimated to restrain the market growth.

This market is distributed in five regions that include North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin America. Among these, North America is estimated to hold a bigger share of the Osteoarthritis Drug market, owing to the rapid growth of the geriatric population which is more vulnerable towards osteoarthritis. According to the Centers for Disease Control and Prevention (CDC) in 2018, approximately 29.3% of people aged between 45 to 64 years and 49.6% of people aged over 65 years were diagnosed with arthritis in the U.S. moreover increasing initiatives from institutions to collaborate with key players for research related to osteoarthritis Drugs and treatment is expected to drive the growth of the market in this region. 

Competitive Analysis

Major players operating in the global Osteoarthritis Drugs market include GlaxoSmithKline Plc, Regeneron, Flexion Therapeutics, Inc., Sanofi, Bioventus, Inc., Medivir, Merck Sharp & Dohme Corp., Ferring B.V., Horizon Pharma plc., Abiogen Pharma SpA, Eli Lilly and Company, Abbott, and Pfizer Inc.

The Food and Drug Administration (FDA) is evaluating the efficacy of tanezumab, which is an NGF-inhibitor drug that interrupts the pain signal from reaching the brain or spinal cord. This drug is produced by Pfizer Inc.