The Global Knee Surgeries and Arthroplasty Pain Management Therapeutics Market, by Drug (Acetaminophen, COX-2 inhibitors, Opioids, Non-steroidal Anti-inflammatories, Ketamine, and Others ), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies ), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 4,211.7 million in 2022 and expected to exhibit a CAGR of 4.8% over the forecast period (2022-2028), as highlighted in a new report published by Coherent Market Insights.
Many types of medicines are available to help control pain, including opioids, non-steroidal anti-inflammatory drugs (NSAIDs), acetaminophen, etc. Medications help people feel more comfortable, allowing one to start moving sooner, get the strength back more quickly, and recover from knee surgeries and arthroplasty faster. Thus, a surge in the number of knee surgeries and arthroplasty is expected to drive the growth of the global knee surgeries and arthroplasty pain management therapeutics market over the forecast period.
For instance, according to data published by Springer Nature, a German-British academic publishing company, in July 2021, a total number of 23,812 revision knee arthroplasties were performed in Germany in 2018, yielding an overall increase of 20.76% between 2008 and 2018. In comparison, primary total knee arthroplasty (TKA) procedures increased by 23.8% from 152,551 performed procedures in 2008 to 188,866 procedures in 2018 in Germany. .
Global Knee Surgeries and Arthroplasty Pain Management Therapeutics Market – COVID-19 Impact (Overall Impact on Healthcare)
The coronavirus (COVID-19) pandemic and lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors which is majorly impacted by the COVID-19 pandemic.
The lockdowns in various countries have created an economic burden on the private healthcare sector. Healthcare providers are facing challenges with regard to manpower, equipment, consumables, and other resources to ensure the safety of patients with other diseases and declining outpatient visits, among others.
Moreover, the pandemic has negatively impacted the development, production, and supply of raw materials and affected the growth of the healthcare sector across the globe. This has led to the closure of industrial establishments, except for the manufacturing of essential commodities, and disruption in the supply chain of products.
The COVID-19 pandemic has affected the economy in three main ways: 1) by directly affecting production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets
Supply chains and manufacturing activities in India, China, the U.S., and others have been disrupted due to lockdowns. Whereas countries such as Thailand, Indonesia, Singapore, and others are facing problems with the transportation of raw materials
Moreover, the coronavirus (COVID-19) pandemic had a negative impact on the global knee surgeries and arthroplasty pain management therapeutics market, owing to the reduced number of joint replacements (JR), arthroscopies, and fracture surgeries for the knee. For instance, according to an article published by SpringerOpen, a peer-reviewed fully open-access journal, in August 2021, healthcare data for the population of the southernmost region in Sweden was used to estimate changes in rates and trends of joint replacements (JR), arthroscopies, and fracture surgeries for knee or hip in April–December 2020 as compared to pre-COVID-19 levels. In conclusion, there was a drop of 54% and 42%, respectively, in the rate of JRs and arthroscopies in April 2020, as compared to the pre-COVID-19 rate of JRs and arthroscopies. The drop in surgeries was due to social distancing and lockdowns, resulting in the cancellation of surgeries.
Browse 27 Market Data Tables and 30 Figures spread through 177 Pages and in-depth TOC on “Knee Surgeries and Arthroplasty Pain Management Therapeutics Market”- Global Forecast to 2030, by Drug (Acetaminophen, COX-2 inhibitors, Opioids, Non-steroidal Anti-inflammatories, Ketamine, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Knee Surgeries and Arthroplasty Pain Management Therapeutics Market, click the link below:
Factors such as increasing strategic collaborations and partnerships by key players to expand their presence are expected to drive the global knee surgeries and arthroplasty pain management therapeutics market growth.
In August 2021, Zydus Cadila Healthcare Ltd., an integrated global healthcare provider, announced that it had signed a supply and license agreement with CHEMI SpA, a leading company in the chemical-pharmaceutical area, to launch the Enoxaparin Sodium injection in the U.S. The injection is generally given to patients undergoing knee, abdominal, or hip replacement surgery. Under this agreement, CHEMI will supply and manufacture the Enoxaparin Sodium injection, which Zydus Cadila will promote in the U.S.
Key Takeaways of the Global Knee Surgeries and Arthroplasty Pain Management Therapeutics Market:
- The global knee surgeries and arthroplasty pain management therapeutics market is expected to exhibit a CAGR of 4.8% over the forecast period, owing to increasing approval of drug. For instance, in March 2020, GlaxoSmithKline plc, a global healthcare company, announced that the U.S. Food and Drug Administration (FDA) approved Advil Dual Action, an exclusive pain-fighting formula, combining ibuprofen and acetaminophen as an over-the-counter (OTC) product for pain relief. Advil Dual Action can be used to treat headaches, muscle aches, backaches, arthritis, and other joint pain.
- Among drug, the Non-steroidal Anti-inflammatories segment is expected to account for the largest market share in 2022, owing to increasing product approvals by regulatory bodies for NSAIDs. For instance, in July 2018, Aurobindo Pharma, a pharmaceutical manufacturing company, received final approval from the U.S. Food and Drug Administration (USFDA) to manufacture and market Ibuprofen capsules, used to relieve pain and reduce fever. The approved product is a generic equivalent of Pfizer's Advil Liqui-Gels Capsules, containing ibuprofen. Pfizer is a pharmaceutical and biotechnology company.
- Key players operating in the global knee surgeries and arthroplasty pain management therapeutics market include Pfizer Inc, Allay Therapeutics, Mallinckrodt, Johnson & Johnson, Zydus Cadila Healthcare Ltd., Novartis AG, Purdue Pharma, Delphis Pharmaceutical, Taj Pharmaceuticals Limited, GlaxoSmithKline plc, AbbVie Inc., and Aurobindo Pharma
