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Global Osteoarthritis Therapeutics Market 2019-2023 | 8% CAGR Projection Over the Next Five Years | Technavio

The Associated Press

LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global osteoarthritis therapeutics market 2019-2023 is expected to post a CAGR of close to 17% during the forecast period, according to the latest market research report by Technavio.

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The global osteoarthritis therapeutics market will post a CAGR of close to 17% during the period 2019-2023 (Graphic: Business Wire)

Magnetic resonance imaging (MRI) is used to visualize articular cartilage and other intra-articular structures that are vital for the functional integrity of joints in patients in osteoarthritis. Also, the use of biomarkers is gaining popularity that help predicts which patient subset responds to NSAIDs. More research is being conducted on imaging biomarkers based on radiographic features. Such improved diagnostic modalities will drive the global osteoarthritis therapeutics market during the forecast period.

This market research report on the global osteoarthritis therapeutics market 2019-2023 also provides an analysis of the most critical trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

In this report, Technavio highlights the expanding R&D as one of the key emerging trends in the global osteoarthritis therapeutics market.

Global osteoarthritis therapeutics market: Expanding research and development

The rise in R&D activities has resulted in the identification of promising drug targets. Disease-modifying drugs are currently tested in preclinical and clinical trials to target interleukin1-beta (IL1-beta) and tumor necrosis factor-alpha (TNF-alpha). These two play an important role in cartilage breakdown in osteoarthritis. This is why there is a high potential in developing analgesic drugs which target most of the pathways selectively. This growing trend is expected to fuel the growth of the global osteoarthritis therapeutics market.

“The NHS in the UK is providing funding for innovative treatment options like stem cell therapy to repair damaged knee cartilages in patients with osteoarthritis. Recently, South Korea’s Ministry of Food and Drug Safety approved the INVOSSA (TissueGene) gene therapy drug for the treatment of knee osteoarthritis. The drug helps reduce symptoms associated with osteoarthritis. Many such innovative drugs for the treatment of osteoarthritis will contribute to the growth of the market,” says an analyst at Technavio.

Global osteoarthritis therapeutics market: Segmentation analysis

This market research report segments the global osteoarthritis therapeutics market by product (analgesics and NSAIDs, corticosteroids, viscosupplements, and others), type (ankle osteoarthritis, hip osteoarthritis, knee osteoarthritis, shoulder osteoarthritis, and others), and geography (Asia, Europe, North America, and ROW).

The North Americas led the market in 2018 with a market share of nearly 32%, followed by Europe, Asia, and ROW respectively. The dominance of North America can be attributed to the increasing incidences of osteoarthritis in countries such as the US due to the rapidly growing geriatric population.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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KEYWORD:

INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL GENERAL HEALTH

SOURCE: Technavio Research

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PUB: 04/15/2019 11:10 AM/DISC: 04/15/2019 11:10 AM

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