Growing geriatric population susceptible to osteoarthritis fuels the growth of the market. According to the NCBI report in May 2023, a rapidly aging population coupled with obesity is expected to more than double the number of people suffering from OA to 67 million by 2030.Moreover, it is expected that more than 50% of OA cases are expected to occur in the age group of 65 and above.According to an OAAA study supported by CDC in March 2024, around 45% of people having OA are 65 & above and 88% of the total cases occur in the age group of 45 & above. The annual incidence of knee OA is highest among people aged 55 to 64 in the country. Such a high risk for geriatric population is affecting overall productivity by reducing work efficiency and increasing the disease burden in the country.
Increase in R&D activities for injectable drug development is boosting the market growth.To manage OA symptoms and prevent its structural progression, key pharmaceutical companies and research institutes are actively involved in R&D activities for the development of novel drugs, especially disease-modifying OA drugs. For instance, in January 2024, BioSenic announced its plans to share the data of post hoc analysis of the phase 3 study of JTA-004 at the Osteoarthritis Research Society International (OARSI) World Congress 2024. JTA-004 is an innovative IA treatment for knee OA, and the study showed that a single injection of an investigational drug is safe and effective for the treatment of severe inflammatory subtypes of knee OA.
Furthermore, research and academic institutes are involved in the development of novel treatment options for OA. For instance, in March 2023, according to Science Translational Medicine report GP130, an investigational drug can disrupt inflammation and manage pain & stiffness. The drug will be tested in the upcoming initial phases of clinical trials. Moreover, in December 2021, Kolon TissueGene, Inc. announced that the U.S. FDA allowed it to initiate a Phase 2 clinical trial of TG-C in OA of the hip. The study will assess the pain and quality-of-life improvements during the investigation period.
U.S. Osteoarthritis Injectables Market Report Highlights
- In 2023, Hyaluronic Acid (HA) injections segment dominated the U.S. market, owing to recent advancements in HA injection therapy for osteoarthritis focus on HA-based hydrogel therapeutics.
- Knee osteoarthritis segment held the largest share of the market in 2023.The rising prevalence of the condition is expected to boost the need for the prevention and treatment of knee osteoarthritis in the older population to improve quality of life and decrease disability rates in the elderly population.
- The retail pharmacies segment is anticipated to witness the fastest CAGR over the forecast period. Retail pharmacies serve as intermediaries between manufacturers and healthcare providers, purchasing osteoarthritis injectables in bulk and storing them until requested.
Table of Contents
Companies Mentioned
- Anika Therapeutics, Inc.
- Bioventus.
- Ferring Pharmaceuticals Inc.
- Sanofi S.A.
- Flexion Therapeutics, Inc.
- Zimmer Biomet
- Arthrex, Inc.
- Royal Biologics
- Teva Pharmaceutical Industries Ltd.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 137 |
Published | May 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 3.99 Billion |
Forecasted Market Value ( USD | $ 6.3 Billion |
Compound Annual Growth Rate | 6.8% |
Regions Covered | United States |
No. of Companies Mentioned | 9 |