At 7.1% CAGR, North America Osteoarthritis Therapy Market is Projected to be Worth US$ 13,579.80 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America osteoarthritis therapy market was valued at US$ 7,873.88 million in 2022 and is expected to reach US$ 13,579.80 million by 2030, registering a CAGR of 7.1% from 2022 to 2030. Rising prevalence of osteoarthritis and innovative therapy options reducing dependency on medications are among the critical factors attributed to drive the North America osteoarthritis therapy market growth.

Globally, OA affects more than 500 million people accounting 7% of the world's population according to the CDC report. It represents a major cause of long-term disability. Additionally, osteoarthritis is also more prevalent among athletes and people who sustain joint injury or trauma. Moreover, it is more prevalent among women, accounting for 60% of global osteoarthritis cases. According to the World Health Organization (WHO) report, osteoarthritis is more prevalent among older population. Also, OA can affect anyone, but the condition is most common in adults over 40 years age. Also, The World Health Organization report further reveals that, about 73% of are living with OA are older than 55 years and 60% are female. According to the Centers for Disease Control and Prevention (CDC) report, over 32.5 million adults in the US live with OA. Thus, with the rising prevalence of OA, new therapy options such as biological therapy are gaining attention worldwide. Platelet-rich plasma (PRP) therapy is one example that has emerged as a promising treatment for patients suffering from OA. PRP enhances tissue recovery by catalyzing the body's natural healing and tissue repair processes.

Transcutaneous Electrical Nerve Stimulation (TENS) is another example of a treatment option to treat OA. TENS helps minimize acute and chronic pains by reducing the need for medications. Therefore, rising prevalence of OA accelerates demand for innovative treatment options, reducing the dependency on medications in the coming years.

On the contrary, the product recall hampers the growth of North America osteoarthritis therapy market.

Based on therapy type, the North America osteoarthritis therapy market is segmented into transcutaneous electrical nerve stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma (PRP) therapy & stromal vascular fraction, prolotherapy, and others. The physical therapy segment held 42.1% market share in 2022, amassing US$ 3,317.33 million. It is projected to garner US$ 5,852.43 million by 2030 to register 7.4% CAGR during 2022-2030.

In terms of disease indications, the North America osteoarthritis therapy market is segmented into knee osteoarthritis, spine osteoarthritis, foot and ankle osteoarthritis, shoulder osteoarthritis, hand osteoarthritis, and others. The knee osteoarthritis segment held 51.1% share of North America osteoarthritis therapy market in 2022, amassing US$ 4,022.90 million. It is anticipated to garner US$ 7,107.49 million by 2030 to expand at 7.4% CAGR during 2022-2030.

Based on end users, the North America osteoarthritis therapy market is categorized into hospitals and clinics, specialty clinics, ambulatory surgical center, homecare, and others. The homecare segment held 31.5% share of North America osteoarthritis therapy market in 2022, amassing US$ 2,483.85 million. It is predicted to garner US$ 4,155.67 million by 2030 to expand at 6.6% CAGR between 2022 and 2030.

Based on country, the North America osteoarthritis therapy market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.9% share of North America osteoarthritis therapy market in 2022. It was assessed at US$ 6,685.71 million in 2022 and is likely to hit US$ 11,606.80 million by 2030, registering a CAGR of 7.1% during 2022-2030.

Key players operating in the North America osteoarthritis therapy market are Vision Quest Industries Inc, Dr PRP USA LLC, Zimmer Biomet Holdings Inc, DePuy Synthes Inc, Bioventus Inc, Omron Healthcare Inc, Exactech Inc, and Medi GmbH & Co KG, among others.

• In March-2022, VQ OrthoCare introduced the OActive Align Osteoarthritis Knee Brace. The OActive Align offers clinicians an easy solution for custom-fitting and aligning the brace to produce exceptional patient outcomes. The brace employs a unique combination of features that precisely fit the anatomy, align the brace hinge axis, and secure it in its most effective position for corrective pain relief.
  
  

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