Indian Osteoarthritis Drugs Market size stood at around USD XX Billion in 2019 and is projected to reach USD XX Billion by 2028, exhibiting a CAGR of XX% during the forecast period (2019-2028).
Osteoarthritis (OA) is a chronic degenerative disorder of multifactorial etiology characterized by the loss of articular cartilage, hypertrophy of bone at the margins, subchondral sclerosis, and range of biochemical and morphological alterations of the synovial membrane and joint capsule. Osteoarthritis is the second most common rheumatologic problem and it is the most frequent joint disease with a prevalence of 22% to 39% in India. OA is more common in women than men, but the prevalence increases dramatically with age. Nearly, 45% of women over the age of 65 years have symptoms while radiological evidence is found in 70% of those over 65 years. OA of the knee is a major cause of mobility impairment, particularly among females. OA was estimated to be the 10th leading cause of nonfatal burden. The rising alertness about risk related to osteoarthritis among the people and the growing government programs to curb the disease are few other reasons anticipated to boost the global osteoarthritis drugs market growth during the forecast period. Also, the rising expenditure by key players for R&D and technological advancements activities is projected to bring up new avenues for market players.
In India, growing obesity rates, vitamin D deficiency, jobs that involve kneeling, squatting or lifting heavy loads, and untreated joint injuries are major factors that can lead to osteoarthritis, affecting almost 15 Million people each year. Growing geriatric population, rising prevalence of the osteoarthritis and increasing per capita healthcare expenditure will drive the market growth during the forecast period. The rising government spending on healthcare sector with the aim of offering better affordability for several treatment and diagnostic services that in turn is anticipated to drive the global osteoarthritis drug market growth. Nonetheless, the chance of adverse cardiovascular events related to the usage of NSAIDs in treating osteoarthritis is projected to obstruct the market growth to some extent.