Global Osteoarthritis Therapeutics Market Analysis Report 2024-2030, by Drug (NSAIDs, Corticosteroids), Anatomy (Knee Osteoarthritis, Hip Osteoarthritis), Sales Channel, End-use and Segment Forecasts
Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Global Osteoarthritis Therapeutics Market Size, Share & Trends Analysis Report, Drug (NSAIDs, Corticosteroids), Anatomy (Knee Osteoarthritis, Hip Osteoarthritis), Route of Administration, Sales Channel, End-use, Region, and Segment Forecasts, 2024-2030" report has been added to * ResearchAndMarkets.com's* offering.
The global osteoarthritis therapeutics market size is estimated to reach USD 13.57 billion by 2030 and is projected to grow at a CAGR of 6.82% from 2024 to 2030. The osteoarthritis therapeutics market is on the rise, driven by an increase in OA cases, especially among the aging population. In the U.S. alone, there are over 32.5 million OA patients, highlighting the demand for effective treatments. Ongoing research and development efforts are focused on creating new therapies, with a particular emphasis on understanding the disease and developing solutions to address its challenges.
Managing OA proves difficult owing to its dense tissue structure, but the introduction of novel drugs such as intra-articular drug administration has accelerated the development of targeted drug delivery. Researchers are actively exploring disease-modifying drugs and bioadaptive carriers to enhance the development of innovative osteoarthritis treatments. Market players are taking initiatives to contribute to market expansion, as seen with OrthoTrophix, Inc. presenting clinical data and a registration plan for TPX-100 for knee osteoarthritis at BIO 2022.
In addition, significant efforts are being made by key pharmaceutical companies and research institutes in realm of research and development, especially for disease-modifying osteoarthritis drugs. For instance, BioSenic's Phase 3 data presentation at the 2024 OARSI World Congress showcased the efficacy of JTA-004 in treating severe inflammatory knee osteoarthritis.