The South & Central America osteoarthritis therapy market was valued at US$ 345.44 million in 2022 and is expected to reach US$ 552.40 million by 2030; it is estimated to register a CAGR of 6.0% from 2022 to 2030.
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.
For instance, in October 2018, Bioventus announced approval for "DUROLANE" from Agência Nacional de Vigilância Sanitária (ANVISA). The newly launched product is a single injection for OA treatment in Brazil. ANVISA approved DUROLANE for the symptomatic treatment of mild to moderate knee and hip OA. Therefore, innovative product launches in Brazil to treat osteoarthritis fuel the market growth.
More Effective Treatment Options Fuels South & Central 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.
South & Central America Osteoarthritis Therapy Market Overview
South & Central America countries comprises Brazil, Argentina, and Rest of South & Central America. The new product launches by the manufacturers to stay ahead in the competitive market is a significant factor responsible for market growth in South & Central America region. According to the Researchgate report, in Brazil, the prevalence of osteoarthritis is 33% among individuals over the age of 25, resulting in an estimated 40 million people suffering from the disorder. Additionally, the Korean Knee Society report reveals that osteoarthritis affects ~4% of the adult population in Brazil. The new product launches by the manufacturers to stay ahead in the competitive market is a significant factor responsible for market growth.For instance, in October 2018, Bioventus announced approval for "DUROLANE" from Agência Nacional de Vigilância Sanitária (ANVISA). The newly launched product is a single injection for OA treatment in Brazil. ANVISA approved DUROLANE for the symptomatic treatment of mild to moderate knee and hip OA. Therefore, innovative product launches in Brazil to treat osteoarthritis fuel the market growth.
South & Central America Osteoarthritis Therapy Market Segmentation
The South & Central America osteoarthritis therapy market is categorized into therapy type, disease indications, end user, and country.- Based on therapy type, the South & Central 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 South & Central 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 South & Central America in 2022.
- Based on end user, the South & Central 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 South & Central America in 2022.
- By country, the South & Central America osteoarthritis therapy market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America share in 2022.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Osteoarthritis Therapy Market Landscape
5. South & Central America Osteoarthritis Therapy Market - Key Market Dynamics
6. Osteoarthritis Therapy Market - South & Central America Market Analysis
7. South & Central America Osteoarthritis Therapy Market Analysis - by Therapy Type
8. South & Central America Osteoarthritis Therapy Market Analysis - by Disease Indication
9. South & Central America Osteoarthritis Therapy Market Analysis - by End User
10. South & Central America Osteoarthritis Therapy Market - Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- Zimmer Biomet Holdings Inc
- DePuy Synthes Inc
- Bioventus Inc
- Omron Healthcare Inc
