Osteoarthritis Therapeutics Market to Grow at CAGR of 8.4% from 2021-2026

The global osteoarthritis therapeutics market reached a value of nearly US$8 Billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% during 2021-2026. The market is driven by factors such as the growing geriatric population, sedentary lifestyles, and unhealthy dietary patterns, which increase the risk of developing osteoarthritis. The development of imaging biomarkers and analgesic drugs, as well as rising investments in research and development, are also contributing to the market growth.

Key Takeaways:

• The market is expected to grow at a CAGR of 8.4% during 2021-2026, driven by factors such as the growing geriatric population and sedentary lifestyles.
• The global osteoarthritis therapeutics market reached a value of nearly US$8 Billion in 2020.
• Companies such as Abbott Laboratories, Anika Therapeutics Inc., Bayer Aktiengesellschaft, Eli Lilly and Company, and Flexion Therapeutics Inc. are key players in the market.
• The market is witnessing a surge in demand for disease-modifying drugs, which focus on proinflammatory cytokines for treating cartilage breakdown.
• The development of imaging biomarkers based on radiographic features is also driving the market.
• Rising investments in research and development to launch new diagnostics and biomarkers are contributing to the market growth.

Statistics:

• The global osteoarthritis therapeutics market reached a value of nearly US$8 Billion in 2020.
• The market is expected to grow at a CAGR of 8.4% during 2021-2026.
• The global osteoarthritis population is projected to reach 96 million patients by 2025 (Source: "Osteoarthritis Treating Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026").
• The total cost of osteoarthritis care in the United States was estimated to be around US$185 billion in 2020 (Source: "Osteoarthritis Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026").

Sources:

• "Osteoarthritis Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report, ResearchAndMarkets.com.
• "Osteoarthritis Treating Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report, ResearchAndMarkets.com.
• "Osteoarthritis Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" press release, BusinessWire.com.