North America Osteoarthritis Therapy Market
No. of Pages: 107 | Report Code: BMIRE00030514 | Category: Life Sciences
No. of Pages: 107 | Report Code: BMIRE00030514 | Category: Life Sciences
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; it is estimated to register a CAGR of 7.1% from 2022 to 2030. More Effective Treatment Options Fuels North America Osteoarthritis Therapy Market
Currently, there is no cure for OA. A group of clinical research scientists, through clinical trials, reveal that they are developing innovative treatment target options that can stop the progression of OA. For example, in November 2021, LG Chem company announced the initiation of a clinical trial for next-generation new drugs to treat arthritis. Additionally, in October 2021, Pacira BioSciences, Inc. announced the acquisition of Flexion Therapeutics to treat non-opioid pain management "ZILRETTA". The drug approved in 2017 is the first and only approved treatment for OA knee pain utilizing extended-release microsphere technology.
In September 2023, Sorrento Therapeutics, Inc. announced positive Phase 2 top-line clinical trial results for the "Resiniferatoxin (RTX) program". The Phase 2 trial is a multi-center, double-blind, placebo, and active-controlled study assessing the efficacy and safety of several dose groups of RTX to manage pain in patients with moderate-to-severe OAK. Also, Sorrento decided to include an active approved competitor drug, "Zilretta," in the current clinical trial protocol.North America Osteoarthritis Therapy Market Overview
North America osteoarthritis therapy market is segmented as US, Canada, and Mexico. Fast product launches by the US Food and Drug Administration (FDA) for osteoarthritis drugs and government support for accelerating product launches are the most impacting factors for the market growth. According to the statistics revealed in the Centers for Disease Control and Prevention (CDC) report, osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million US adults. Additionally, the Osteoarthritis (OA) Action Alliance report reveals that the overall economic burden associated with OA in the US is estimated at US$ 136.8 billion annually. Further, the American Roentgen Ray Society ARRS report reveals that the lifetime risk of OA is 50%, and it is estimated that by 2040, ~78 million (26%) US adults will have OA.
Further, new product approvals by the manufacturers aiming for non-pharmacology therapy for OA pain further influence market growth. For instance, in June 2021, CyMedica Orthopedics announced receiving approval for the "Intellihab System," a noninvasive modality for knee osteoarthritis pain by the US Food and Drug Administration (USFDA). The new product launch is a therapeutic and digital-based ecosystem that is designed to treat OA pain with a debilitating osteoarthritis disease. Therefore, new non-pharmacology therapy intended for OA pain focusing on reducing dependency on therapeutics is a key factor for fueling the growth of the osteoarthritis therapy market.
North America Osteoarthritis Therapy Market Revenue and Forecast to 2030 (US$ Million)
Strategic insights for the North America Osteoarthritis Therapy provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Osteoarthritis Therapy refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Report Attribute
Details
Market size in 2022
US$ 7,873.88 Million
Market Size by 2030
US$ 13,579.80 Million
Global CAGR (2022 - 2030)
7.1%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Therapy Type
By Disease Indication
Regions and Countries Covered
North America
Market leaders and key company profiles
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North America Osteoarthritis Therapy Market Segmentation
The North America osteoarthritis therapy market is categorized into therapy type, disease indications, end user, and country.
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 the largest market share in 2022.
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 the largest share of North America osteoarthritis therapy market in 2022.
Based on end user, the North America osteoarthritis therapy market is categorized into hospitals and clinics, specialty clinics, ambulatory surgical center, homecare, and others. The homecare segment held the largest share of North America osteoarthritis therapy market in 2022.
By country, the North America osteoarthritis therapy market is segmented into the US, Canada, and Mexico. The US dominated the North America osteoarthritis therapy market share in 2022.
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 are some of the leading companies operating in the North America osteoarthritis therapy market.
1. Vision Quest Industries Inc
2. Dr PRP USA LLC
3. Zimmer Biomet Holdings Inc
4. DePuy Synthes Inc
5. Bioventus Inc
6. Omron Healthcare Inc
7. Exactech Inc
8. Medi GmbH & Co KG
The North America Osteoarthritis Therapy Market is valued at US$ 7,873.88 Million in 2022, it is projected to reach US$ 13,579.80 Million by 2030.
As per our report North America Osteoarthritis Therapy Market, the market size is valued at US$ 7,873.88 Million in 2022, projecting it to reach US$ 13,579.80 Million by 2030. This translates to a CAGR of approximately 7.1% during the forecast period.
The North America Osteoarthritis Therapy Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Osteoarthritis Therapy Market report:
The North America Osteoarthritis Therapy Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Osteoarthritis Therapy Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Osteoarthritis Therapy Market value chain can benefit from the information contained in a comprehensive market report.
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