Future Trends
More Effective Treatment Options to Fuel Osteoarthritis Therapy Market Growth During Forecast Period
Currently, there is no cure for OA. Through clinical trials, a group of clinical research scientists revealed that they are developing innovative treatment target options that can stop the progression of OA. In November 2021, LG Chem company announced the initiation of a clinical trial for next-generation new drugs to treat arthritis. Also, the company announced receiving approval from the Korean Ministry of Food and Drug Safety to initiate Phase 1b/2 clinical trials based on the positive pre-clinical results of "LG00034053," a new drug candidate to treat osteoarthritis. 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.
Report Segmentation and Scope:
The osteoarthritis therapy market is segmented into therapy type, disease indication, and end user. Based on therapy type, the market is segmented into Transcutaneous Electrical Nerve Stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma (PRP) therapy and stromal vascular fraction, prolotherapy, and others. By disease indication, the market is segmented into knee osteoarthritis, spine osteoarthritis, foot & ankle osteoarthritis, shoulder osteoarthritis, hand osteoarthritis, and others. In terms of end user, the market is segmented into hospitals & clinics, specialty clinics, ambulatory surgical centers (ASCs), homecare, and others.
Therapy Type-Based Insights
By therapy type, the osteoarthritis therapy market is segmented as transcutaneous electrical nerve stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma and stromal vascular fraction, prolotherapy, and others. The physical therapy segment held the largest share of the osteoarthritis therapy market by therapy type segment in 2022. The others segment is anticipated to grow at the fastest CAGR of 7.5% during the forecast period. The physical therapy segment held the largest market share of the osteoarthritis therapy market by therapy type segment in 2022. The others segment is anticipated to grow at the fastest CAGR of 7.5% during the forecast period. Physical therapies, such as yoga, help improve physical function in patients affected by knee osteoarthritis. The clinical study reveals that the patients suffering from knee osteoarthritis receiving physical therapy (PT) have gained more quality-adjusted life-years compared to those receiving glucocorticoid injections. Additionally, physical therapy is clinically more effective than glucocorticoid injection; moreover, it is perceived as a more cost-effective option.
Physical therapy sessions intended for osteoarthritis can be accessible through online resources, particularly in crisis scenarios such as the COVID-19 pandemic. Also, the sessions through online interventions can reach a wide audience at low or no cost. Patients can join the virtual sessions at home as per their comfort and convenience. The aforementioned benefits of physical therapy would provide lucrative opportunities for the osteoarthritis therapy market during the forecast period.
The others segment is estimated to register the highest CAGR for the osteoarthritis therapy market. Other therapy is rehabilitation therapy for osteoarthritis. The rehabilitation program is designed to reduce pain and increase functionality quickly. The main goal of the rehabilitation is to relieve symptoms of knee OA and slow down its progression. The future perspective and rehabilitation include nonpharmacological management of OA followed by exercise, which is effective in improving quality of life, joint function, muscle power, strength, and functional performance. Therefore, modifications in rehabilitation programs will ultimately reduce the patients' osteoarthritis pain, thereby bolstering the osteoarthritis therapy market growth during the forecast period.
Disease Based Insights
The knee osteoarthritis segment held the largest market share of the osteoarthritis therapy market by disease indication segment in 2022 and the same segment is anticipated to grow at the fastest CAGR of 7.7% during the forecast period. According to the National Academy of Science report, knee osteoarthritis (KO) accounts for more than 80% of the total disease burden, affecting nearly 19% of American adults aged 45 years and above annually. Launches of innovative products by manufacturers can help reduce the burden of knee osteoarthritis. In September 2021, Contura International Ltd announced a new product launch, "Arthrosamid," an alternative to current therapy that fulfills an unmet clinical need for a safe, effective, long-acting, and minimally invasive treatment for alleviating pain associated with knee OA. Therefore, rising prevalence of knee OA and innovative product launches to minimize osteoarthritis pain drive the osteoarthritis therapy market growth.
End User-Based Insights
The homecare segment held the largest market share of the osteoarthritis therapy market by end-user segment in 2022. Additionally, hospitals & clinics segment is estimated register highest CAGR of 7.5% during the forecast period. The first and foremost remedy to overcome arthritis is reducing excess body weight. Additionally, hot and cold therapies can bring back flexibility in the stiff joints, which can help reduce joint pain. The use of electric blankets or moist heating pads proves helpful in reducing pain. However, cold treatments such as packs of ice or bags of frozen vegetables can be applied to the affected joints, giving relief. Availability of such treatment options proves to be a successful remedy for managing osteoarthritis at home, which drives the osteoarthritis therapy market growth for the homecare segment.
Vision Quest Industries Inc, Dr PRP USA LLC, Estar Technologies Ltd, Zimmer Biomet Holdings Inc, DePuy Synthes Inc, Bioventus Inc, Omron Healthcare Inc, Exactech Inc, Medi GmbH & Co KG, and Zealmax Innovations Pvt Ltd are among the key companies operating in the osteoarthritis therapy market. Leading players adopt strategies such as launching new products, expanding and diversifying their market presence, and expanding new customer base to tap prevailing business opportunities.
Industry Developments and Future Opportunities:
Various strategic developments by leading players operating in the osteoarthritis therapy market are listed below:
- In March 2022, Vision Quest Industries Inc. announced a new product launch, "OActive Align Osteoarthritis Knee Brace." The OActive Align Osteoarthritis Knee Brace offers clinicians an easy solution for custom-fitting and aligning the braces to produce exceptional patient outcomes. The brace offers a unique combination of features that align the brace hinge axis, precisely fit the anatomy, and secure it in its most effective position for corrective pain relief.
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