Knee Osteoarthritis Drugs Market Size, Share and Forecast

The degeneration of cartilage in osteoarthritis of the knee results in pain, stiffness, swelling, and restricted knee mobility. It is usually more common in older adults, but it can also strike younger people due to trauma, obesity, or genetic predisposition. The illness may have a significant impact on daily activities and lives. Treatment primarily aims to control symptoms and slow the progression of the illness through the use of medications such as analgesics, corticosteroids, nonsteroidal anti-inflammatory drugs, and new disease-modifying therapies. These interventions aim to reduce inflammation, ease pain, and improve joint function to help patients maintain their mobility and perform daily tasks.

According to SPER market research, ‘Global Knee Osteoarthritis Drugs Market Size- By Drug Type, By Route of Administration, By Age Group- Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ states that the Global Knee Osteoarthritis Drugs Market is predicted to reach 15.3 billion by 2034 with a CAGR of 8.24%.

Drivers:

The rising incidence of osteoarthritis, especially in older populations globally, is driving the market for knee osteoarthritis medications. The market is expanding as a result of growing demand for efficient pain management and increased awareness of available treatments. Therapeutic efficacy and patient compliance are improved by advances in drug development, such as disease-modifying osteoarthritis drugs (DMOADs) and novel delivery systems. Knee osteoarthritis is more common due to the rise in obesity and sedentary lifestyles, which also increases the need for medication. Pharmaceutical companies are encouraged to invest in research and development of new therapies.

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Restraints:

There are several challenges facing the knee osteoarthritis drug market that could limit its growth. High treatment costs, particularly for injectables and advanced therapies, may make treatment inaccessible to patients. Side effects and safety concerns associated with long-term use of corticosteroids, nonsteroidal anti-inflammatory drugs (NSAIDs), and certain analgesics may reduce patient adherence. When existing treatments fail to halt the progression of their diseases, some patients resort to surgery. Regulatory barriers, such as stringent approval processes for new drugs, may postpone market entry. Certain populations may not have access to these medications due to regional differences in healthcare infrastructure. North America leads the world market for knee osteoarthritis medications because of its high rate of osteoarthritis, developed healthcare system, and substantial healthcare expenditures. Some of the key market players are Anika Therapeutics, Avanos, Biotech Healthcare, Bioventus, Ferring Pharmaceuticals, Fidia Pharma, GlaxoSmithKline (GSK), Haleon, Kenvue, Organon LLC, Pacira Pharmaceuticals, Pfizer, Premier Surgical, Sanofi, and Stellar Pharmaceuticals. 

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Knee Osteoarthritis Drugs Market Share

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