According to the new market research report "Osteoarthritis Therapeutics Market by Anatomy (Knee, Hand), Drug Type (NSAIDs, Analgesics, Corticosteroids), Route of Administration (Parenteral), Distribution Channel (Hospital Pharmacies),Purchasing Pattern (Prescription Drugs) - Global Forecast to 2025", published by MarketsandMarkets™, the global market is projected to reach USD 11.0 billion by 2025 from USD 7.3 billion in 2020, at a CAGR of 8.7% from 2020 to 2025.
Browse in-depth TOC on "Osteoarthritis Therapeutics Market" 185 – Tables
43 – Figures
201 – Pages
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The presence of a large geriatric and target patient population and the improving healthcare infrastructure in several APAC countries are expected to offer growth opportunities in the market during the forecast period. Topical, oral, and parenteral pain medications are widely used to manage pain associated with osteoarthritis.
Although alternatives such as orthopedic braces are used as part of a noninvasive approach for pain management, the adoption of pain medications for the condition is high owing to the ease of administration and the affordability of pain medications.
Pain relievers such as oral analgesics (acetaminophen and NSAIDs such as ibuprofen, naproxen, tramadol, opiates, and duloxetine), topical agents (such as capsaicin and topical NSAIDs), intra-articular agents (such as corticosteroids and hyaluronic acid), and nutraceuticals (glucosamine and chondroitin) are widely used.
Studies reveal that these medications offer a 30% reduction of chronic pain on administration. The large share of this market segment can be attributed to the rising incidence of osteoarthritis, rising geriatric population, and increasing obesity rates in several European countries, coupled with the rising number of injuries due to sports and road accidents.
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