SEATTLE, April 25, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global osteoarthritis drugs market was valued at US$ 5,895.1 million in 2017 and is projected to exhibit a CAGR of 8.2% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Osteoarthritis Drugs Market:
Increasing prevalence of osteoarthritis and other forms for arthritis, launch of novel products, and robust pipeline for symptomatic treatment of osteoarthritis are some of the factors driving growth of the market.
Market players are focused on investing in research and development of novel products that aid in the treatment of osteoarthritis and address the critical unmet needs of patients. For instance, in November 2018, Samumed LLC initiated Phase II study for the drug candidate – SM04690 – for knee osteoarthritis.
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Moreover, key players in the market are focused on product launch and approval to offer new treatment options for osteoarthritis. For instance, in May 2017, Sanofi Inc. received the U.S. Food and Drug Administration (FDA) approval for Kevzara (sarilumab) injection, which aids in the treatment of rheumatoid arthritis in adults.
Key players operating in the market are also focused on adopting acquisition strategies in order to gain access to innovative products and to expand their product offerings in the potential markets. For instance, in February 2014, Bioventus announced agreement with Galderma to gain access to DUROLANE, which is used in pain relief of joints in osteoarthritis.
However, use of Non-steroidal Anti-inflammatory Drugs (NSAIDs) in symptomatic treatment of osteoarthritis may cause cardiovascular events such as stroke, heart attack, and congestive heart failure. This in turn is expected to hinder the market growth. According to Annual European Congress of Rheumatology (EULAR) 2018, NSAIDs used in the treatment of osteoarthritis enhance the risk of cardiovascular events in around two third cases.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/osteoarthritis-drugs-market-2580
Key Market Takeaways:
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