Osteoarthritis is the most common form of arthritis which causes pain, swelling, and reduced motion in the joints. Usually, osteoarthritis affected joints are inclusive of hands, knees, hips and spine. Osteoarthritis breaks the cartilage of the joints which is a slippery tissue covering the ends of bones in a joint. Geriatric population and over-weighted individuals are at higher risks of osteoarthritis. Growing geriatric population, rising prevalence of the osteoarthritis and increasing per capita healthcare expenditure will drive the market growth during the forecast period, from 2017-2023. In 2015, according to the National Institutes of Health, the American geriatric population is expected to nearly double from 48 million in 2015 to 88 million by 2050. Moreover, according to the Centers for Disease Control and Prevention about 78 million (26%) U.S. adults aged 18 years or more are estimated to have doctor diagnosed arthritis, by 2020. However, low per capita income in the developing countries and side effects of the treatment procedures will restrain the market growth during the forecast period.
The global osteoarthritis market is expected to grow at an approximate CAGR of 6.8% during the forecast period.
Segmentation
The global osteoarthritis market is segmented on the basis of type, diagnosis, treatment, and end users.
On the basis of type, the market is segmented into hip osteoarthritis, wrist osteoarthritis, spinal osteoarthritis, and others.
On the basis of diagnosis, the market is segmented into imaging, joint fluid analysis, and others. The imaging segment, is sub segmented into X-rays, magnetic resonance imaging (MRI), and others.
On the basis of treatment, the market is segmented into medication, surgery, therapy, and others. The medication segmented is sub segmented into analgesics and non-steroidal anti-inflammatory drugs, and others. The analgesics sub segment, by medication, is further segmented into acetaminophen, duloxetine, and others. The non-steroidal anti-inflammatory drugs sub segment, by medication, is further segmented into aspirin, ibuprofen, naproxen sodium and naproxen, and others.
On the basis of end users, the market is segmented into hospitals & clinics, medical institutes, research organization, and others.
Key players for global osteoarthritis market
The key players for the global osteoarthritis market are Abbott. (U.S.), Novartis AG (Europe), Pfizer Inc. (U.S.), Eli Lilly and Company. (U.S.), ABIOGEN PHARMA S.p.A (Europe), Merck Sharp & Dohme Corp. (U.S.), TissueGene Inc. (U.S.), Ampio Pharmaceuticals Inc. (U.S.), Regeneron (U.S.), and others.
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