Global Market Study on Osteoarthritis Treatment: APAC and Latin America to Compete Neck and Neck in Terms of Adoption


Osteoarthritis  Market
  • Published On : Mar-2018 |
  • Pages : 197 Pages |
  • Format :

Global Healthcare Sector Outlook

Despite the economic and political uncertainty in the recent past, the global healthcare industry has been receiving positive nudges from reformative and technological disruptions in medical devices, pharmaceuticals and biotech, in-vitro diagnostics, and medical imaging. Key markets across the world are facing a massive rise in demand for critical care services that are pushing global healthcare spending levels to unimaginable limits.

A rapidly multiplying geriatric population; increasing prevalence of chronic ailments such as cancer and cardiac disease; growing awareness among patients; and heavy investments in clinical innovation are just some of the factors that are impacting the performance of the global healthcare industry. Proactive measures such as healthcare cost containment, primary care delivery, innovation in medical procedures (3-D printing, blockchain, and robotic surgery to name a few), safe and effective drug delivery, and well-defined healthcare regulatory compliance models are targeted at placing the sector on a high growth trajectory across key regional markets.

Parent Indicators Healthcare

  • Current expenditure on health, % of gross domestic product
  • Current expenditure on health, per capita, US$ purchasing power parities (current prices, current PPPs)
  • Annual growth rate of current expenditure on health, per capita, in real terms
  • Out-of-pocket expenditure, % of current expenditure on health
  • Out-of-pocket expenditure, per capita, US$ purchasing power parity (current prices, current PPPs)
  • Physicians, Density per 1000 population (head counts)
  • Nurses, Density per 1000 population (head counts)
  • Total hospital beds, per 1000 population
  • Curative (acute) care beds, per 1000 population
  • Medical technology, Magnetic Resonance Imaging units, total, per million population
  • Medical technology, Computed Tomography scanners, total, per million population

Research Methodology

PMR utilizes a triangulation methodology that is primarily based on experimental techniques such as patient-level data, to obtain precise market estimations and insights on Molecule and Drug Classes, API Formulations and preferred modes of administration. Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country specific data is again analysed to derive data at a global level. This methodology ensures high quality and accuracy of information.

Secondary research is used at the initial phase to identify the age specific disease epidemiology, diagnosis rate and treatment pattern, as per disease indications. Each piece of information is eventually analysed during the entire research project which builds a strong base for the primary research information.

Primary research participants include demand-side users such as key opinion leaders, physicians, surgeons, nursing managers, clinical specialists who provide valuable insights on trends and clinical application of the drugs, key treatment patterns, adoption rate, and compliance rate.

Quantitative and qualitative assessment of basic factors driving demand, economic factors/cycles and growth rates and strategies utilized by key players in the market is analysed in detail while forecasting, in order to project Year-on-Year growth rates. These Y-o-Y growth projections are checked and aligned as per industry/product lifecycle and further utilized to develop market numbers at a holistic level.

On the other hand, we also analyse various companies annual reports, investor presentations, SEC filings, 10k reports and press release operating in this market segment to fetch substantial information about the market size, trends, opportunity, drivers, restraints and to analyse key players and their market shares. Key companies are segmented at Tier level based on their revenues, product portfolio and presence.

Please note that these are the partial steps that are being followed while developing the market size. Besides this, forecasting will be done based on our internal proprietary model which also uses different macro-economic factors such as per capita healthcare expenditure, disposable income, industry based demand driving factors impacting the market and its forecast trends apart from disease related factors.

Standard Report Structure

  • Executive Summary
  • Market Definition
  • Macro-economic analysis
  • Parent Market Analysis
  • Market Overview
  • Forecast Factors
  • Segmental Analysis and Forecast
  • Regional Analysis
  • Competition Analysis

Market Taxonomy

The global osteoarthritis treatment market has been segmented into the following:

Treatment Type

  • Drugs
  • Assistive Devices

Disease Type

  • Knee Osteoarthritis
  • Spine Osteoarthritis
  • Foot & Ankle Osteoarthritis
  • Shoulder Osteoarthritis
  • Hand Osteoarthritis

Distribution Channels

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug Stores
  • E-Commerce

Region

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Middle East & Africa

Report Methodology

The analysts working on this report have done meticulous research on the topic by gauging the total population country-wise, prevalence of the disease, incidence rate, diagnosis rate, treatment rate, and annual treatment cost among several others.

According to the World Health Organization, around 10% to 15% of all adults aged over 60 have some degree of osteoarthritis, with high prevalence among women than men. According to the UN, by 2050, people aged over 60 will account for more than 20% of the world population. Of this 20%, a conservative estimate of 15% will have symptomatic osteoarthritis, and one-third of this population will be severely disabled. Consequently by 2050, 130 million people will suffer from osteoarthritis globally. Osteoarthritis accounts for more than 50% of the entire musculoskeletal diseases. According to the Global Burden of Disease 2010 study, Osteoarthritis is 11th highest contributor to global disability. In this regard, governments and NGOs are working hand in hand for improving healthcare services and also spreading awareness regarding this disease, especially among women.

North America to lead in the long run

Owing to the growing lifestyle changes, increasing number of obesity cases, and an extensive rise in the geriatric population, cases of osteoarthritis are increasing in North America. As a result, the adoption of treatment and drugs is also increasing in the region. The availability of better treatment options, high awareness among the people, government reimbursement policies, and the willingness to take up treatment is expected to add up to the growth of the osteoarthritis treatment market in the region. In terms of the business opportunities, the U.S., Europe, and Asia Pacific are lucrative markets for osteoarthritis treatment and drugs due to high prevalence of the disease. Alternative and complementary medicines are of great interest to the patient population affected by osteoarthritis. In the U.S., alternative medicine segments are growing at a higher pace and have high potential for substantial research. Due to advancements in technology, osteoarthritis management becomes more focused towards effective treatment and this is expected to fuel the growth of the global osteoarthritis treatment market in the long run.

osteoarthritis treatment market

Europe to catch up with North America in the coming years

The UK accounts for a large share in the Europe osteoarthritis treatment market due to higher adoption and treatment among the patient population. The Europe osteoarthritis treatment market is primarily driven by changing government policies and this is expected to encourage drugs manufacturers to develop effective treatment options. Changing healthcare policies to manage osteoarthritis effectively is expected to fuel revenue growth of the osteoarthritis treatment market. According to the Arthritis Research UK, one third of the people aged 45 years and above in the UK seek treatment for osteoarthritis.

The application of biomarkers in drug development in the region is further expected to bode well for the growth of the market in the region in the long run. Biomarkers are quantifiable characteristics of the biological process used for diagnosis of particular disease conditions. Till date, clinical symptoms are required to diagnose osteoarthritis. Due to the rapid advancement of technology in the healthcare sector, manufacturers are concentrating on quantifying biomarkers and encompassing an array of biomarkers for enhancing product development in clinical trials. Biomarkers are employed to provide global measures for addressing the osteoarthritis disease burden and potentially to discriminate between mono and poly articular osteoarthritis.  

Company Profiles

  • Pfizer Inc.
  • Johnson & Johnson Services, Inc.
  • Novartis AG
  • GlaxoSmithKline plc.
  • Zimmer Biomet Holdings, Inc.
  • Stryker Corporation
  • Abbott Laboratories
  • Others.
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