LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Research?src=hash” target=”_blank”gt;#Researchlt;/agt;–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.
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:
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
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Five Forces Analysis
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