About the Osteoarthritis Pain Drugs Market
Osteoarthritis, the most common type of arthritis, is a leading cause of disability. It is a chronic, progressive degenerative joint disease, which is characterized by gradual destruction of the articular cartilage, hypertrophy of the bone margins, and a series of biochemical and morphological changes in the synovial membrane and joint capsule. This results in pain and loss of movement. It is also known as degenerative joint disease, hypertrophic arthritis, and degenerative arthritis, and is most commonly prevalent in older (above 60 years of age) and middle-aged people (between 40-59 years of age). The exact etiology of osteoarthritis is not well understood, but is believed to be an outcome of mechanical and molecular events in the affected joint. Increasing age, obesity, overuse of the joint, weak thigh muscles, and genetics are some of the common risk factors. Treatment is given depending upon the affected joint, including the hand, wrist, neck, back, knee, and hip, and involves medication and exercise.
Technavio’s analysts forecast the global osteoarthritis pain drugs market to grow at a CAGR of 8.38% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global osteoarthritis pain drugs market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of branded, generic, and off-label drugs used to treat osteoarthritis pain. It also considers the revenues to be generated from the sales of drugs that are expected to be launched into the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Osteoarthritis Pain Drugs Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Osteoarthritis Pain Drugs Market: Abbott Laboratories, Johnson & Johnson, Novartis International, and Pfizer.
Other Prominent Vendors in the market are: AbbVie, Abiogen Pharma, Afferent Pharmaceuticals, Astellas Pharma, BioDelivery Sciences International, CrystalGenomics, Cytori Therapeutics, Daiichi Sankyo, Eli Lilly, Endo Pharmaceuticals Holdings, Horizon Pharma, iCeutica, Iroko Pharmaceuticals, Merck, Nuvo Research, Regeneron Pharmaceuticals, Sanofi, SantoSolve, Techfields Pharma, Winston Pharmaceuticals, Yooyoung Pharmaceutical, and Zynerba Pharmaceuticals.
Commenting on the report, an analyst from Technavio’s team said: “A key trend that will boost market growth is the emergence of new treatments. Cardax, a development stage life sciences company, is developing astaxanthin therapies for osteoarthritis treatment. The therapy is expected to fulfil large unmet medical needs in the market. Moreover, Arthritis Research UK is conducting studies to develop new treatments for osteoarthritis. One such study is the arcOGEN study, where the genes involved in osteoarthritis are being investigated, and early trials of stem-cell research are done to help in cartilage regrowth.”
According to the report, a key driver of market growth is the high numbers of unmet medical needs. There are a number of unmet medical needs in this market due to the chronic nature of osteoarthritis and the absence of curative therapies. With drugs such as NSAID's, simple analgesics, corticosteroids, and opioids proving effective for individuals with early-to-mid stages of osteoarthritis pain, the competition in the market is strong. However, these options do not provide adequate pain relief in the late stages of osteoarthritis. Ultimately, effective treatment of osteoarthritis pain requires an improved anti-inflammatory molecule, which gives reason for R&D to develop new drugs with better MOA and minimal adverse effects. Thus, absence of effective and safe long-term treatment for creates numerous opportunities for pharmaceutical companies.
Further, the report states that one challenge that could restrict market growth is the consumer’s preference for alternate therapies.
Abbott Laboratories, Johnson & Johnson, Novartis International, Pfizer, AbbVie, Abiogen Pharma, Afferent Pharmaceuticals, Astellas Pharma, BioDelivery Sciences International, CrystalGenomics, Cytori Therapeutics, Daiichi Sankyo, Eli Lilly, Endo Pharmaceuticals Holdings, Horizon Pharma, iCeutica, Iroko Pharmaceuticals, Merck, Nuvo Research, Regeneron Pharmaceuticals, Sanofi, SantoSolve, Techfields Pharma, Winston Pharmaceuticals, Yooyoung Pharmaceutical, Zynerba Pharmaceuticals.
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