Indian Osteoarthritis Drugs Market Analysis

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  • Type: Common Disease Area
  • Published : April 2021
  • Region: Asia
  • Country: India
  • Report ID : 1397

  • Format: PPT, PDF

Indian Osteoarthritis Drugs Market: Segmented By Drugs Type (Viscosupplementation Agents, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Analgesics, and Corticosteroids), By Route of Administration (Oral, Topical and Parenteral Routes), By Purchasing Pattern (OTC and prescription drugs) – Growth, Trends, and Forecasts (2019 – 2028)

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Report Overview

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.

Market Drivers

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.

1. Indian Osteoarthritis Drugs Market Overview…………………………………………
A. Market Size
2. Market Growth Drivers………………………………………………………………….
A. High Incidence of Osteoarthritis in India
B. Geriatric People Suffering from Osteoarthritis
3. Osteoarthritis Disease Classification……………………………………………
A. Primary Osteoarthritis
B. Secondary Osteoarthritis
4. Osteoarthritis Drugs Market Segmentation……………………………………….
A. By Drug Class
I. Viscosupplementation agents
II. Nonsteroidal anti-inflammatory drugs (NSAIDs)
III. Analgesics
IV. Corticosteroids
B. By Route of Administration
I. Oral
II. Topical
III. Parental
C. By Purchasing Pattern
I. OTC Drugs
II. Prescriptions Drugs
5. Osteoarthritis Drugs Major Products Market Share…………………………
A. Key Findings
B. Market Analysis, Insights and Forecast – By Drug Type
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles…………………………………………………………………..
A. Cipla Company overview, Product & Services, Strategies & Financials
B. Novartis AG Company overview, Product & Services, Strategies & Financials
C. Pfizer Company, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth……………………………………………………
A. New Trends and Development of Osteoarthritis Drugs market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Drug Type:

Based on drug type, the market is classified as, viscosupplementation agents, nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, and corticosteroids. The analgesics segment is subsegmented into duloxetine and acetaminophen, while the NSAIDs segment is subsegmented into naproxen, aspirin, diclofenac, ibuprofen, and other NSAIDs. The viscosupplementation agents segment accounted for the largest share of the osteoarthritis therapeutics market in 2019. The rising incidence of knee osteoarthritis is the major factor driving the growth of this segment. Viscosupplementation effectively eases the pain of osteoarthritis through injections that fill up the joint’s synovial fluid, thus offering better lubrication of the joints.

By Route of Administration:

On the basis of route of administration, the market has been segmented into oral, topical, and parenteral routes. The parenteral route accounted for the largest share of this market in 2019 and is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the wide adoption of the parenteral route for administering osteoarthritis therapeutics owing to the ease of administration and the better pharmacokinetics and pharmacodynamics, resulting in better patient compliance.

By Purchasing Pattern:

Based on the purchasing pattern, the market is segmented into OTC and prescription drugs. In 2019, the prescription drugs segment accounted for a larger share of this market as most osteoarthritis therapeutics (viscosupplementation agents and corticosteroids) are only available on prescription.

Major Players

Growing geriatric population with Osteoarthritis and unhealthy lifestyle patterns, which impact the overall bone health of individuals are major factor rapidly increasing the Osteoarthritis drugs market. Many new players are emerging in the Osteoarthritis Drugs market, because of a number of growth opportunities. The major players for Osteoarthritis drugs are AbbVie Inc. Amgen Inc., Pfizer Inc., Roche Holding AG, Novartis AG, Johnson & Johnson, Cipla, Merck & Co., Inc, and Celgene Corporation. Cipla has got the final approval from the United States Food and Drug Administration for Diclofenac Sodium Topical Gel, indicated for the relief of the pain of Osteoarthritis of joints such as the knees and hands.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

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Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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