Osteoarthritis Market Forecast 2024 to 2032

The articular (hyaline) cartilage that covers the bone proximities of synovial joints degenerates in osteoarthritis, a slowly progressing joint disease. Studies have shown that osteoarthritis is a disease of the entire joint, adversely affecting the subchondral bone, tendons, ligaments, and synovium, refuting the prior belief that it is solely a problem of articular cartilage. As the condition progresses and these components are damaged, discomfort and pain develop, which can drastically reduce people’s quality of life.

Report Overview
The Osteoarthritis Market was valued at USD 6.37 Billion in 2022 and is expected to register CAGR of 9.0% by 2032.
Improvements in diagnostics and technological advancements are expected to propel the market’s growth in the upcoming years. A cutting-edge medical technology called knee kinesiography is revolutionising how doctors treat knee osteoarthritis. According to the Public Health Agency of Canada, around four million Canadians, or 13.6% of the population, suffer from this kind of osteoarthritis. The frequency and prevalence of osteoarthritis diagnoses are higher in women (16.1% and 10.0 per 1,000 persons per year, respectively) compared to men (11.1% and 7.5 per 1,000 persons per year).
The Osteoarthritis Market is segmented by Type of products (Hip Osteoarthritis, Knee Osteoarthritis, Foot & Ankle Osteoarthritis, Shoulder Osteoarthritis, Spinal Osteoarthritis), By End Users (Hospitals Pharmacy, E-Commerce, Retail Pharmacy, Drug Store)

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Report Coverage:

Growth Drivers
The widespread use of drugs and rising government investment in cell-based research are the two main drivers of industry expansion. Topical, oral, and analgesic medications are frequently used to treat osteoarthritis pain. Despite alternatives such as orthopaedic braces being used as part of a noninvasive approach to pain therapy, the adoption of pain pills for the condition is substantial due to the ease of administration and cost of pain medications. The use of biomarkers to identify patients who are most likely to respond to specific medical therapies may increase treatment response rates and decrease the risk of subjecting patients to medications that are either unlikely to be effective or could have adverse side effects.

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Key Questions Addressed in the Report Include:
Which market segments are generating the most revenue?
What is the geographical outlook for various market segments?
Where are the future investment opportunities considering the recent trends?
What is the effect of various market dynamics on the market and how will the market shape in future?
Which are Potential & niche segments and regions exhibiting promising growth?
What are the current challenges in Osteoarthritis market?
Who are the major players in the Osteoarthritis Market and what does market share analysis looks like?

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