COVID-19 Impact and Recovery Analysis | Global Osteoarthritis Therapeutics Market 2020-2024 | Evolving Opportunities with Abbott Laboratories and Anika Therapeutics Inc. | Technavio

LONDON--(BUSINESS WIRE)--The global osteoarthritis therapeutics market is expected to grow by USD 2.99 billion as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 9%.

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Read the 120-page report with TOC on "Osteoarthritis Therapeutics Market Analysis Report by Product (Analgesics and NSAIDs, Corticosteroids, Viscosupplements, and Others) and Geography (North America, Europe, Asia, and ROW), and the Segment Forecasts, 2020-2024".

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The market is driven by the increasing incidence of osteoarthritis. In addition, the availability of guidelines for disease management is anticipated to boost the growth of the osteoarthritis therapeutics market.

The rising incidence of risk factors such as obesity and aging is increasing the prevalence of osteoarthritis across the world. The high body weight of obese people makes them more susceptible to osteoarthritis. Similarly, in the geriatric population, the reduced muscle mass and an increase in fat mass leads to joint loading, which can result in the progression of osteoarthritis. These factors are increasing the prevalence of osteoarthritis, which is fueling the growth of the global osteoarthritis therapeutics market.

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Major Five Osteoarthritis Therapeutics Companies:

Abbott Laboratories

Abbott Laboratories operates its business through segments such as Established Pharmaceuticals Products, Nutritional Products, Diagnostic Products, and Medical Devices. The company offers BRUFEN RETARD. It is an NSAID indicated for its analgesic and anti-inflammatory effects in the treatment of osteoarthritis.

Anika Therapeutics Inc.

Anika Therapeutics Inc. operates its business through the Unified business segment. The company offers MONOVISC. It is a single injection viscosupplement composed of cross-linked sodium hyaluronate in phosphate buffered saline solution used to treat the joint pain associated with osteoarthritis.

Bayer AG

Bayer AG operates its business through segments such as Pharmaceuticals, Crop Science, and Consumer Health. The company offers Aleve. It is an NSAID used to reduce pain in patients with osteoarthritis.

F. Hoffmann-La Roche Ltd.

F. Hoffmann-La Roche Ltd. operates its business through segments such as Pharmaceuticals and Diagnostics. The company offers Actemra. It is an anti-IL-6 receptor biologic indicated for the treatment of rheumatoid arthritis and hand osteoarthritis.

GlaxoSmithKline Plc

GlaxoSmithKline Plc operates its business through segments such as Pharmaceuticals, Consumer Healthcare, and Vaccines. The company offers Voltaren. It is an NSAID used to reduce pain in patients with osteoarthritis.

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Osteoarthritis Therapeutics Market Product Outlook (Revenue, USD Billion, 2020-2024)

• Analgesics and NSAIDs
• Corticosteroids
• Viscosupplements
• Others

Osteoarthritis Therapeutics Market Regional Outlook (Revenue, USD Billion, 2020-2024)

• North America
• Europe
• Asia
• ROW

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