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Global Hip Osteoarthritis Therapeutics Market – Industry Trends and Forecast to 2031

Healthcare

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Global Hip Osteoarthritis Therapeutics Market – Industry Trends and Forecast to 2031

  • Healthcare
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Hip Osteoarthritis Therapeutics Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 1,288.50 USD Million
Diagram Market Size (Forecast Year) USD 2,230.49 USD Million
Diagram CAGR %

Major Markets Players

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Global Hip Osteoarthritis Therapeutics Market, By Drug Type (Prescription Drugs and Over-the-Counter Drugs), Route of Administration (Oral, Parenteral, and Topical), Dosage Form (Tablets, Injections, and Others), Drug Class (Viscosupplementation Agents, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Analgesics, Corticosteroids, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) – Industry Trends and Forecast to 2031.

Hip Osteoarthritis Therapeutics Market Analysis and Size

As per the recent data, patients with hip osteoarthritis frequently use NSAIDS, both over-the-counter and on prescription. Over 60% of persons in the U.S. who have osteoarthritis of the hip accept nonsteroidal anti-inflammatory drugs, according on a Bioengineering Document from 2019. Similarly, in the U.S., 60% of all European knee degenerative joint disease affected role who acquired remedy medicines also attained nonsteroid anti-seditious drug.

Data Bridge Market Research analyses that the global hip osteoarthritis therapeutics market which was USD 1,288.5 million in 2023, would rocket up to USD 2,230.49 million by 2031, and is expected to undergo a CAGR of 7.1% during the forecast period. This indicates the market value. “Tablets” dominates the dosage form segment of the hip osteoarthritis therapeutics market owing to the growing demand for better methods for treatment in patients. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Drug Type (Prescription Drugs and Over-the-Counter Drugs), Route of Administration (Oral, Parenteral, and Topical), Dosage Form (Tablets, Injections, and Others), Drug Class (Viscosupplementation Agents, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Analgesics, Corticosteroids, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy)

Countries Covered

U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa

Market Players Covered

Abbott (U.S.), Bayer (Germany), Eli Lilly and Company (U.S.), GlaxoSmithKline Plc (U.K.), Johnson & Johnson Inc. (U.S.), Merck Sharp & Dohme Corp. (U.S.), Novartis AG (Switzerland), Pfizer Inc. (U.S.), Sanofi S.A. (France), Zimmer Biomet Holding (U.S.), Anika Therapeutics Inc. (U.S.), Bioventus (U.S.),Flexion Therapeutics, Inc. (U.S.), OrthogenRx, Inc. (U.S.), Pacira Pharmaceuticals, Inc (U.S.), among others

Market Opportunities

  • Increasing Demand for Personalized Medicine
  • Emerging Markets

Market Definition

Hip osteoarthritis is a degenerative joint disease that affects the hip joint. It is the most common form of arthritis that impacts the hip. Hip osteoarthritis is a chronic condition, but treatments are available to manage pain and stiffness and improve joint function. These include medications, physical therapy, injections, and, in severe cases, hip replacement surgery. Hip osteoarthritis therapeutics refer to medications, devices, and other treatments used to manage hip osteoarthritis. Hip osteoarthritis therapeutics do not currently include a cure for the disease itself, but they can significantly improve a patient's quality of life by managing pain, improving joint function, and slowing the progression of the disease.

Hip Osteoarthritis Therapeutics Market Dynamics

Drivers

  • Rising Geriatric Population

As the global population ages, the number of people with hip osteoarthritis is expected to increase significantly. Older adults are more susceptible to developing osteoarthritis due to joint wear and tear over time. This growing demographic creates a larger potential patient pool for hip osteoarthritis therapeutics.

  • Increasing Prevalence of Obesity

Obesity is a major risk factor for developing hip osteoarthritis. The extra weight stresses the hip joint, accelerating cartilage breakdown. The rising global obesity rates are expected to contribute to the growth of the hip osteoarthritis therapeutics market as more people require treatment for this condition.

Opportunities

  • Increasing Demand for Personalized Medicine

Traditional treatments for hip osteoarthritis often take a one-size-fits-all approach. However, the disease can vary significantly between patients.  Personalized medicine offers an opportunity to develop targeted therapeutics based on an individual unique genetic makeup, disease severity, and response to existing treatments.

  • Emerging Markets

As per recent moment, developed nations control the majority of the hip osteoarthritis treatment industry. But there's a big chance to build the industry in emerging economies with aging populations and expanding middle classes. In these areas, there is a rising need for treatments that are both accessible and reasonably priced.

Restraints/Challenges

  • Limited Reimbursement for Non-surgical Therapies

While a variety of non-surgical treatments exist for hip osteoarthritis, such as physical therapy, injections (such as hyaluronic acid), and pain medication (such as NSAIDs), reimbursement for these therapies can be limited by insurance companies. This can make it difficult for some patients to afford the ongoing costs of managing their condition, potentially hindering market growth for these treatment modalities.

  • Lack of Cure and Disease Modifying Drugs

Currently, there is no cure for hip osteoarthritis, and available treatments primarily focus on pain management and symptom relief. The absence of disease-modifying drugs that can slow or prevent the progression of the disease presents a challenge for the market. Developing such drugs could significantly improve patient outcomes and potentially drive market growth in the long term.

This hip osteoarthritis therapeutics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Hip Osteoarthritis Therapeutics market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

  • In January 2023, Stryker Corporation acquired GTX Corp., a company developing tantalum implants for potential use in hip osteoarthritis, aiming for improved wear resistance and longevity
  • In January 2019, Zimmer Biomet Receives FDA Clearance for ROSA Knee System for Robotically-Assisted Surgeries. ROSA Knee features 3D pre-operative planning tools and real-time, intraoperative data on soft-tissue and bone anatomy designed to improve bone cut accuracy and range of motion gap analysis to improve flexion and restoration of natural joint movement potentially

Hip Osteoarthritis Therapeutics Market Scope

The hip osteoarthritis therapeutics market is segmented on the basis of drug type, route of administration, dosage form, drug class, and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market

Drug Type

  • Prescription Drugs
  • Over-the-Counter Drugs

Route of Administration

  • Oral
  • Parenteral
  • Topical

Dosage Form

  • Tablets
  • Injections
  • Others

Drug Class

  • Viscosupplementation Agents
  • Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
    • Ibuprofen
    • Aspirin
    • Diclofenac
    • Naproxen
    • Others
  • Analgesics
  • Corticosteroids
  • Others

Distribution Channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

Hip Osteoarthritis Therapeutics Market Regional Analysis/Insights

The global hip osteoarthritis therapeutics market is analysed and market size insights and trends are provided by country, drug type, route of administration, dosage form, drug class, and distribution channel as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.

North America is expected to dominate the market because of the strong base of healthcare facilities, the strong presence of major players in the market, the extraordinary healthcare infrastructure, and the large pool of people having specifically age related issues.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the increase in government initiatives to promote healthcare, the rising health awareness among the people and growing demand for advanced medical technology for diagnosis and treatment procedures, the large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The hip osteoarthritis therapeutics market also provides you with a detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the Hip Osteoarthritis Therapeutics market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the Hip Osteoarthritis Therapeutics market.

Competitive Landscape and Hip Osteoarthritis Therapeutics Market Share Analysis

The hip osteoarthritis therapeutics market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

  • Abbott (U.S.)
  • Bayer (Germany)
  • Eli Lilly and Company (U.S.)
  • GlaxoSmithKline Plc (U.K.)
  • Johnson & Johnson Inc. (U.S.)
  • Merck Sharp & Dohme Corp. (U.S.)
  • Novartis AG (Switzerland)
  • Pfizer Inc. (U.S.)
  • Sanofi S.A. (France)
  • Zimmer Biomet Holding (U.S.)
  • Anika Therapeutics Inc. (U.S.)
  • Bioventus (U.S.)
  • Flexion Therapeutics, Inc. (U.S.)
  • OrthogenRx, Inc. (U.S.)
  • Pacira Pharmaceuticals, Inc (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The hip osteoarthritis therapeutics market size will be worth USD 2,230.49 million by 2031.
The growth rate of the hip osteoarthritis therapeutics market is 7.1%.
Rising Geriatric Population & Increasing Prevalence of Obesity are the growth drivers of the hip osteoarthritis therapeutics market.
Drug type, route of administration, dosage form, drug class, and distribution channel are the factors on which the hip osteoarthritis therapeutics market research is based.
Major companies in the hip osteoarthritis therapeutics market are Abbott (U.S.), Bayer (Germany), Eli Lilly and Company (U.S.), GlaxoSmithKline Plc (U.K.), Johnson & Johnson Inc. (U.S.), Merck Sharp & Dohme Corp. (U.S.), Novartis AG (Switzerland), Pfizer Inc. (U.S.), Sanofi S.A. (France), Zimmer Biomet Holding (U.S.), Anika Therapeutics Inc. (U.S.), Bioventus (U.S.),Flexion Therapeutics, Inc. (U.S.), OrthogenRx, Inc. (U.S.), Pacira Pharmaceuticals, Inc (U.S.), among others.
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