The elderly population is rapidly growing as average life expectancy increases, which is driving up the prevalence of degenerative diseases like https://www.globaldata.com/store/report/osteoarthritis-market-analysis osteoarthritis Market.
More than half of the burden of musculoskeletal disease, according to the World Health Organization, is attributed to osteoarthritis. In underdeveloped countries, where access to arthroplasty and joint replacement is restricted but life expectancy is rising, it is anticipated that this will be felt most acutely.
Additionally, rising middle-aged obesity rates are predicted to hasten osteoarthritis onset. Around the world, 400 million adults are obese. The prevalence of obesity varies by country, from less than 5% in China, Japan, and a number of African nations to more than 75% in metropolitan Samoa. It is anticipated that there will be 573 million obese adults worldwide by 2030.
Despite an increase in the number of persons suffering from hip and knee joint problems as a result of the aforementioned reasons, the urge to be active in later life is increasing rapidly, and more elderly people today want a higher quality of life than previous generations.
More people over the age of 65 are expected to need to continue working in order to support themselves financially, and surgery is the only way for them to regain significant mobility while remaining pain-free. These developments are projected to influence future joint replacement surgery numbers.
Surgery is the only available therapy for end-stage or severe osteoarthritis because medical treatments are few and only focus on symptom management.
Palliative painkillers and anti-inflammatory drugs are the first lines of medical treatment for mild to moderate osteoarthritis, but they do not slow the disease's progression. Painkillers are almost useless in dire situations. Anti-rheumatic medications that act as disease modifiers can slow the progression of the disease to some extent, but effective treatments to stop progression are still decades away.
Additionally, some people are looking for non-pharmacological treatments for chronic pain due to worries about the safety of painkillers like cycloxygenase-2 inhibitors. Given the likelihood that they will eventually lose joint function, people with moderate to severe osteoarthritis are opting for joint replacement surgery more frequently.
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According to the new market research report by MarketsandMarkets, the osteoarthritis therapeutics market is estimated at $6.8 billion in 2019 and projected to reach $10.1 billion by 2024 at a CAGR of 8.1 percent from 2019 to 2024.
This growth, the report says, is in part due to the rapid increase in the geriatric and obese population and the associated increase in the prevalence of osteoarthritis disease.Rapid growth in the geriatric and obese population and the associated increase in the prevalence of osteoarthritis disease.
Risk of adverse cardiovascular events associated with the use of NSAIDs in osteoarthritis treatment is likely to hamper the growth of the market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209565994Knee segment to witness the highest growth during the forecast periodBased on anatomy, the market is segmented into knee, hip, hand, and small-joint.
The knee osteoarthritis segment accounted for the largest market share in 2018 and is expected to register the highest CAGR during the forecast period.
This is attributed to a large number of patients suffering from knee osteoarthritis.Viscosupplementation agents segment to dominate the osteoarthritis therapeutics market in 2018Based on drug type, the market is segmented into viscosupplementation agents, nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, and corticosteroids.
The viscosupplementation agents segment accounted for the largest market share in 2018.
