Injury, obesity, and a variety of other conditions can all contribute to osteoarthritis. It causes excruciating joint pain and stiffness in the afflicted body portion. Osteoarthritis symptoms include joint swelling, numbness in the legs and limbs, and a reduced range of motion. The high prevalence of rheumatoid arthritis is projected to boost market expansion. The availability of just symptomatic therapy rather than permanent cure for osteoarthritis is projected to be the key factor impeding market expansion. The adverse effects of regular administration of nonsteroidal anti-inflammatory medicines (NSAID) in osteoarthritis therapy might result in cardiovascular events such as heart attack and stroke, which is predicted to further limit market expansion. Increased R&D by industry participants in North America is likely to boost market growth over the forecast period.
According to Coherent Market Insights, The global Osteoarthritis Drugs Market is estimated to be valued at US$ 8,592.2 million in 2022 and is expected to exhibit a CAGR of 8.2% during the forecast period (2022-2030).
Top Companies in the Osteoarthritis Drugs Industry:
1. Pfizer, Inc.
Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Merck KGaA; Valneva SE; BioNTech SE; and Arvinas, Inc. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York.
2. Abbott
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Abbott Laboratories was founded in 1888 and is based in North Chicago, Illinois.
3. Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company has collaborations with Incyte Corporation; Boehringer Ingelheim Pharmaceuticals, Inc.; AbCellera Biologics Inc.; Junshi Biosciences; Regor Therapeutics Group; Lycia Therapeutics, Inc.; Kumquat Biosciences Inc.; Entos Pharmaceuticals Inc.; and Foghorn Therapeutics Inc. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
4. Sanofi
Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. it has a collaboration and license agreement with Exscientia, ABL Bio, Inc., Blackstone Life Sciences, Seagen Inc. Additionally, the company has a collaboration agreement with IGM Biosciences, Inc, Skyhawk Therapeutics, Inc, Amunix Pharmaceuticals, Inc. It also enters in a strategic collaboration with Scribe Therapeutics Inc. and co-promotion service agreement with Provention Bio, Inc. Sanofi was founded in 1973 and is headquartered in Paris, France.
5. GlaxoSmithKline Plc.
In the pharmaceutical industry, GSK ranks as one of the largest firms by total sales. The company wields its might across several therapeutic classes, including respiratory, cancer, and antiviral, as well as vaccines. GSK uses joint ventures to gain additional scale in certain markets like HIV. Founded in 2000, headquartered in England, U.K.
6. Bayer AG
Bayer is a German healthcare and agriculture conglomerate. Healthcare provides close to half of the company's sales and includes pharmaceutical drugs as well as vitamins and other consumer healthcare products. Founded in 1863, headquartered in Germany.
7. Novartis AG
The company was incorporated in 1996 and is headquartered in Basel, Switzerland. Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. In January 2020, Novartis AG announced that it had completed acquisition of The Medicines Company, a pharmaceutical company. Novartis AG has a license and collaboration agreement with Alnylam Pharmaceuticals to develop, manufacture, and commercialize inclisiran, a therapy to reduce LDL cholesterol.
8. Zimmer Biomet
Zimmer Biomet Holdings, Inc., together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Zimmer Biomet Holdings, Inc. was founded in 1927 and is headquartered in Warsaw, Indiana.
9. OrthogenRx, Inc.
OrthogenRx is a commercial-stage product development company that provides orthopedic medical devices for the treatment of musculoskeletal conditions. The business model utilizes exclusive supply and license agreements for products presently on the market ex-US and seeks generic product approval in the U.S. potentially saving the healthcare system billions in cost. The company was founded in 2012, headquartered in Pennsylvania. In
Dec 13, 2021 Avanos Medical acquired OrthogenRx.
*Definition- The most prevalent kind of arthritis is osteoarthritis, often known as degenerative joint disease. It can affect many joints throughout the body. Nonetheless, the condition has a significant influence on the knees, neck, lower back, hips, and tiny finger joints.
