San Francisco, California, March 03, 2018: TMR Research states that the global osteoarthritis market is expected to witness a huge leap in the coming years. The research report, titled “Osteoarthritis Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”, provides an unbiased outlook of the overall market for the forecast period of 2017 and 2025. The study has been compiled using primary and secondary research methodologies to help the readers make a well-informed business decision. The key growth driver for the overall market has been the unprecedented rise in osteoarthritis cases being registered. Osteoarthritis is characterized by stiff joints, joint pain, swelling of joints, and decreased range of motion. Demand for treating primary and secondary osteoarthritis is projected to soar as the disorder is becoming common amongst geriatrics.
Growing investments in research and development of new drugs is expected to open up major growth avenues for the global osteoarthritis market. It has significantly renewed hope for finding a permanent solution for treating osteoarthritis. The market is also likely to be driven by the improving spending capacity of patients over the years. Higher level of awareness about complex medical conditions and availability of medical facilities to treat the same are expected to have a positive impact on the global market for osteoarthritis.
Get Sample Copy of this Report @
The rapid advancements in the field of medical sciences have also had a pivotal role to play in the development of the global osteoarthritis market. By bringing down cost of treatment, the overall market has significantly benefitted with larger profit margins. In the coming years, integration of biomarkers for developing newer drugs is expected to create many lucrative opportunities for the overall market.
From a geographic point of view, the global osteoarthritis market is likely to be led by North America. This sheer development is attributable to the strong presence of drug manufacturers in the region. Sincere efforts to conduct clinical trials, smoother approval processes, and better healthcare infrastructure have also played a critical role in putting North America osteoarthritis market at the forefront. Furthermore, better insurance schemes that are supportive of patients’ needs have also supported the rise of this regional market.
On the other hand, Asia Pacific is projected to follow North America’s lead during the forecast period. The consistently growing pool of geriatrics and the emerging trend of medical tourism have been identified by the analysts as key growth drivers for Asia Pacific osteoarthritis market. Rising foreign direct investments in drug manufacturing plants has also made Asia Pacific critical to the osteoarthritis market.
Some of the leading players operating in the global osteoarthritis market are Pfizer, Inc., Eli Lilly and Company, Abbott Laboratories, Novartis AG, and Johnson & Johnson Limited. These players are expected to make strategic alliances to enter new markets along with acquiring larger shares in the global market.