Osteoarthritis is one of the most common types of arthritis that affects a large group of population worldwide. Knees are one of the largest bone structures in the body, which is continually exposed to wear and damage that causes pain and chronic conditions such as osteoarthritis, which results in the development of bilateral osteoarthritis. As the chronic conditions of osteoarthritis result in bilateral osteoarthritis, the bilateral osteoarthritis treatment for the same is also identical to that of osteoarthritis.
Bilateral osteoarthritis is one of the prime causes of disability in aged people, coupled with decreasing the quality of life. The treatment of bilateral osteoarthritis mainly consists of the utilisation of analgesics for reliving pain that is majorly caused by the inflammation of the knees. The treatment of bilateral osteoarthritis consists of the study of the symptoms and dose management in cases where the symptoms are not cured by the primary by bilateral osteoarthritis treatment that consists of analgesics and pain killers. The bilateral osteoarthritis treatment of severe conditions of bilateral osteoarthritis requires the administration of high doses of corticosteroids and certain cases are likely to require knee replacement therapy.
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Bilateral Osteoarthritis Treatment Market: Drivers and Restraints
Advancements in research on bilateral osteoarthritis treatment, such as the development of low-dose corticosteroids and Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), coupled with sanctions for arthritis research funding, are expected to be among the prime factors contributing to the growth of the bilateral osteoarthritis treatment market over the study period. According the data from United Nations, nearly 12%-15% of adults aged 60 years and above are likely to suffer from normal to higher degrees of bilateral osteoarthritis, which is resulting in the higher prevalence of bilateral osteoarthritis, and this is boosting the demand for bilateral osteoarthritis treatment. Although corticosteroids contribute to a limited share in the bilateral osteoarthritis treatment market, the higher efficacy of corticosteroids in the treatment of bilateral osteoarthritis is estimated to offer new growth opportunities for the bilateral osteoarthritis treatment market. Advancements in novel therapies for bilateral osteoarthritis and the extensive launch of new formulations for bilateral osteoarthritis treatment is expected to fuel competition in the global bilateral osteoarthritis treatment market. However, the long duration associated with NSAIDS and the development of tolerance to bilateral osteoarthritis treatment are among factors likely to restrain the growth of the global bilateral osteoarthritis treatment market.
Bilateral Osteoarthritis Treatment Market: Overview
The manufacturers of bilateral osteoarthritis treatment are primarily focused on introducing advanced therapies and effective analgesics. The global market for bilateral osteoarthritis treatment is estimated to witness substantial growth over the forecast period. Moreover, acquisitions and mergers in the global bilateral osteoarthritis treatment market are expected to result in the development of new bilateral osteoarthritis treatment lines and effective drugs, which is estimated to offer new growth opportunities for the global bilateral osteoarthritis treatment market.
For example, Pfizer Incorporation acquired Medivation, Inc., a leading manufacturer of biopharmaceuticals, which offered the company a greater portfolio of innovative and effective therapies for the treatment of conditions such as arthritis and conditions that have limited treatment alternatives. This is also resulting in high competition among major players in the bilateral osteoarthritis treatment market. The wide availability of OTC analgesics, followed by the increasing prescription of corticosteroids, is affecting the distribution channel, which is estimated to boost the revenue share of the global bilateral osteoarthritis treatment market owing to increasing demand from the retail pharmacies and drug store distribution channel segments.
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Bilateral Osteoarthritis Treatment Market: Regional Outlook
Based on regions, the global bilateral osteoarthritis treatment market is segmented into Latin America, North America, Europe, Asia-Pacific excluding Japan (APEJ), CIS & Russia, the Middle East & Africa (MEA) and Japan. Among these, North America is estimated to account for the largest revenue share in the global bilateral osteoarthritis treatment market owing to the local presence of key manufacturers and increase in the usage of corticosteroid-based bilateral osteoarthritis treatments in the region. The Europe bilateral osteoarthritis treatment market is projected to be the second most lucrative region in the bilateral osteoarthritis treatment market over the forecast period. The Asia Pacific excluding Japan bilateral osteoarthritis treatment market is estimated to grow at a high CAGR owing to the increasing incidence of arthritis and increased focus on effective drug manufacturing. Hence, the Asia Pacific excluding Japan bilateral osteoarthritis treatment market and the Latin America bilateral osteoarthritis treatment market are expected to follow the Europe bilateral osteoarthritis treatment market throughout the forecast period.
Bilateral Osteoarthritis Treatment Market: Key Players
The global bilateral osteoarthritis treatment market is characterised by the presence of a large number of domestic manufacturers. Some of the key players in the global bilateral osteoarthritis treatment market are Johnson & Johnson Services, Inc.; Novartis AG; GlaxoSmithKline plc.; Abbott Laboratories and Zimmer Biomet Holdings, Inc.
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