Osteoarthritis Treatment Market: Global Opportunity Analysis and Industry Forecast, 2018––2026
Market Statistics for Osteoarthritis Therapeutics through 2026
From 2018 to 2026, the global Osteoarthritis Treatment Market is expected to increase at an annual rate of 9%, from $6,788.1 million in 2018 to $16,693.8 million in 2026. Osteoarthritis is a chronic health condition marked by chronic pain and discomfort, as well as a reduction in mobility. It is a degenerative joint condition that results from the deterioration and eventual loss of cartilage in one or more joints. Cartilage is a type of connective tissue that can be found in joints including the knees, ankles, and elbows. It aids in the lubrication of the joint and the reduction of friction. The goal of osteoarthritis treatment is to reduce pain while also improving function.
The worldwide Osteoarthritis Treatment Market is expected to be negatively impacted by the COVID-19 outbreak. The likelihood of adverse consequences rises when the number of COVID-19 cases rises and the usage of nonsteroidal anti-inflammatory medications (NSAIDs) and corticosteroids declines. The COVID-19 pandemic has put a strain on global healthcare systems, necessitating the development of innovative medicines.
Increased prevalence of osteoarthritis, advancements in R&D activities for drug development, increased funding from private and government organisations for the development of the healthcare sector and research centres, and increased demand for cell-based research activities are all driving the growth of the osteoarthritis therapeutics market. For example, the Journal of Stem Cells International published an article in 2018 about a new strategy to treating osteoarthritis with mesenchyme stem cell therapy.
According to the same source, there are approximately 500 clinical trials filed on ClinicalTrails.gov to examine the safety and efficacy of adult stem cells for the treatment of osteoarthritis, including umbilical cord-derived stem cells, pluripotent stem cells, and mesenchyme stem cells.
The expansion of the infectious disease diagnostic market is expected to be fueled by an increase in the number of medication approvals. For example, the United States Food and Drug Administration (FDA) accepted Tanezumab's regulatory filing in March 2020, which is used to treat patients with chronic pain caused by moderate to severe osteoarthritis.
From 2018 to 2026, the global Osteoarthritis Treatment Market is expected to increase at an annual rate of 9%, from $6,788.1 million in 2018 to $16,693.8 million in 2026. Osteoarthritis is a chronic health condition marked by chronic pain and discomfort, as well as a reduction in mobility. It is a degenerative joint condition that results from the deterioration and eventual loss of cartilage in one or more joints. Cartilage is a type of connective tissue that can be found in joints including the knees, ankles, and elbows. It aids in the lubrication of the joint and the reduction of friction. The goal of osteoarthritis treatment is to reduce pain while also improving function.
The worldwide Osteoarthritis Treatment Market is expected to be negatively impacted by the COVID-19 outbreak. The likelihood of adverse consequences rises when the number of COVID-19 cases rises and the usage of nonsteroidal anti-inflammatory medications (NSAIDs) and corticosteroids declines. The COVID-19 pandemic has put a strain on global healthcare systems, necessitating the development of innovative medicines.
Increased prevalence of osteoarthritis, advancements in R&D activities for drug development, increased funding from private and government organisations for the development of the healthcare sector and research centres, and increased demand for cell-based research activities are all driving the growth of the osteoarthritis therapeutics market. For example, the Journal of Stem Cells International published an article in 2018 about a new strategy to treating osteoarthritis with mesenchyme stem cell therapy.
According to the same source, there are approximately 500 clinical trials filed on ClinicalTrails.gov to examine the safety and efficacy of adult stem cells for the treatment of osteoarthritis, including umbilical cord-derived stem cells, pluripotent stem cells, and mesenchyme stem cells.
The expansion of the infectious disease diagnostic market is expected to be fueled by an increase in the number of medication approvals. For example, the United States Food and Drug Administration (FDA) accepted Tanezumab's regulatory filing in March 2020, which is used to treat patients with chronic pain caused by moderate to severe osteoarthritis.
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