Submitted by: Submitted by serenapeter
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Words: 800
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Category: Business and Industry
Date Submitted: 05/11/2016 03:07 AM
The latest market report published by Credence Research, Inc. “Global Osteoarthritis Treatment Market - Growth, Share, Opportunities, Pipeline Analysis, Competitive Analysis, and Forecast, 2016 - 2022,” the osteoarthritis treatment market was valued at USD 5,132.4 Mn in 2015, and is expected to reach USD 5,895.5 Mn by 2022, expanding at a CAGR of 1.95% from 2016 to 2022.
Browse the full report Osteoarthritis Treatment Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/osteoarthritis-treatment-market
Market Insights
According to World Health Organization (WHO), Osteoarthritis (OA) is a long-term chronic disease characterized by the deterioration of cartilage in joints which results in bones rubbing together and creating stiffness, pain, and impaired movement. Furthermore, the disease most commonly affects the middle-aged and elderly, although younger people may be affected as a result of injury or overuse. Age is the strongest predictor of the disease and therefore increasing age and extended life expectancy will result in a greater occurrence of the disease. The meager treatment seeking rate is one of the main barriers to the growth of the market. Most of the medical practitioners suggested that early detection of osteoarthritis can improve patient’s quality of life but there is often a lack of awareness about the disease which requires attention. The types of therapeutics included in treatment of osteoarthritis disease are segmented as analgesics, non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids and hyaluronic acid. According to market experts, the non-steroidal anti-inflammatory drugs (NSAIDs) class of painkillers, such as diclofenac (150mg per day) and etoricoxib (30, 60 or 90mg per day) were found more likely to improve pain (between 95 and 100% likely) and were the top-ranked painkilling drugs. However, the major market restraint of NSAIDs market in...