SEATTLE, April 25, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global osteoarthritis drugs market was valued at US$ 5,895.1 million in 2017 and is projected to exhibit a CAGR of 8.2% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Osteoarthritis Drugs Market:
Increasing prevalence of osteoarthritis and other forms for arthritis, launch of novel products, and robust pipeline for symptomatic treatment of osteoarthritis are some of the factors driving growth of the market.
Market players are focused on investing in research and development of novel products that aid in the treatment of osteoarthritis and address the critical unmet needs of patients. For instance, in November 2018, Samumed LLC initiated Phase II study for the drug candidate – SM04690 – for knee osteoarthritis.
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Moreover, key players in the market are focused on product launch and approval to offer new treatment options for osteoarthritis. For instance, in May 2017, Sanofi Inc. received the U.S. Food and Drug Administration (FDA) approval for Kevzara (sarilumab) injection, which aids in the treatment of rheumatoid arthritis in adults.
Key players operating in the market are also focused on adopting acquisition strategies in order to gain access to innovative products and to expand their product offerings in the potential markets. For instance, in February 2014, Bioventus announced agreement with Galderma to gain access to DUROLANE, which is used in pain relief of joints in osteoarthritis.
However, use of Non-steroidal Anti-inflammatory Drugs (NSAIDs) in symptomatic treatment of osteoarthritis may cause cardiovascular events such as stroke, heart attack, and congestive heart failure. This in turn is expected to hinder the market growth. According to Annual European Congress of Rheumatology (EULAR) 2018, NSAIDs used in the treatment of osteoarthritis enhance the risk of cardiovascular events in around two third cases.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/osteoarthritis-drugs-market-2580
Key Market Takeaways:
- The osteoarthritis drugs market is expected to exhibit a CAGR of 8.2% during the forecast period (2018 – 2026), owing to increasing prevalence of osteoarthritis, product launches, and extensive research for developing effective solutions for treatment of osteoarthritis. For instance, in March 2019, Lille Catholic University, in collaboration with Allergan, initiated Phase 2 study of Botulinum Toxin Type A for knee osteoarthritis. The study is estimated to be completed by November 2021.
- Key players in the market are focused on adopting merger and acquisition strategies to enhance their product portfolio, which in turn is expected to propel the market growth over the forecast period. For instance, in December 2017, Flexion Therapeutics, Inc. announced acquisition of GeneQuine Biotherapeutics GmbH’s asset, GQ-203 (now known as FX201). It is a non-opioid therapeutic developed for symptomatic pain relief in knee osteoarthritis.
- Key players operating in the global osteoarthritis drugs market include Pfizer Inc., Abbott, Eli Lilly and Company, ABIOGEN PHARMA S.p.A, Horizon Pharma plc., Ferring B.V., Merck Sharp & Dohme Corp., Medivir, Bioventus, Inc., Sanofi, Flexion Therapeutics, Inc., Regeneron, and GlaxoSmithKline Plc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.