Availability of Regenerative Medicine Drives Osteoarthritis Therapy Market Growth
Regenerative medicine is a new and potentially transformative alternative to traditional therapy options to treat OA. Regenerative medicine utilizes biomedical engineering, biomaterials, and cell therapies that target the body’s immune system to treat OA. Also, clinical researchers have developed methods to fix the articular cartilage of patients using patients’ (autologous) cells. Further, regenerative therapy options use “Matrix-Induced Autologous Chondrocyte Implantation (MACI).” MACI can repair small areas of cartilage, ultimately preventing or postponing OA. Also, several manufacturers are developing products focused on regenerative therapy. In September 2022, Alkem Laboratories announced receiving regulatory approval from the Drug Controller General of India (DCGI) for “StemOne” in India. “StemOne” is the first allogenic cell therapy product for commercial use for knee osteoarthritis in India.
Rising inclination toward non-surgical approaches such as PRP therapy, stem cell therapy, hyaluronic acid injections, and prolotherapy would propel the adoption of regenerative medicine. Patients suffering from OA can be treated using non-pharmacological therapies. Regenerative therapy options can improve joint functions by ultimately reducing pain and enhancing the overall quality of life for individuals suffering from OA. Therefore, increasing adoption of regenerative medicine is expected to open new business opportunities in the osteoarthritis therapy market during the forecast period.
Innovative Therapy Options Reducing Dependency on Medications Fuel Osteoarthritis Therapy Market Growth
The non-pharmacologic therapy is a key facet of treating OA. With lifestyle changes and medicines, patients suffering from OA may benefit from various supportive therapy options, including hot or cold packs and assistive devices. Additionally, complementary and alternative therapy options such as nutritional supplements and rubefacients may help in managing OA. Further, topical treatments, supervised exercises, neuromuscular training, self-management, patient education, and weight loss intervention are among the best treatments suited for OA.
In osteoarthritis knee pain (OKP) treatment, knee braces are used to reduce knee pain as these braces may apply compression (pressure) to soft tissues, stabilize the knee, and redistribute weight. A few examples of knee braces are compression sleeves, hinged knee braces, and unloader knee braces. Also, these compression braces are easily available at drugstores, pharmacies, and online channels. Therefore, availability of innovative therapy options reduces dependency on medications, which drives the osteoarthritis therapy market growth.
Osteoarthritis Therapy Market Trend
More Effective Treatment Options to Fuel Osteoarthritis Therapy Market Growth During Forecast Period
Currently, there is no cure for OA. A group of clinical research scientists, through clinical trials, revealed that they are developing innovative treatment target options that can stop the progression of OA. In November 2021, LG Chem company announced the initiation of a clinical trial for next-generation new drugs to treat arthritis. Also, the company announced receiving approval from the Korean Ministry of Food and Drug Safety to initiate Phase 1b/2 clinical trials based on the positive pre-clinical results of “LG00034053,” a new drug candidate to treat osteoarthritis. Additionally, in October 2021, Pacira BioSciences, Inc. announced the acquisition of Flexion Therapeutics to treat non-opioid pain management “ZILRETTA”. The drug approved in 2017 is the first and only approved treatment for OA knee pain utilizing extended-release microsphere technology.
In September 2023, Sorrento Therapeutics, Inc. announced positive Phase 2 top-line clinical trial results for the “Resiniferatoxin (RTX) program”. The Phase 2 trial is a multi-center, double-blind, placebo, and active-controlled study assessing the efficacy and safety of several dose groups of RTX to manage pain in patients with moderate-to-severe OAK. Also, Sorrento decided to include an active approved competitor drug, “Zilretta,” in the current clinical trial protocol.
Osteoarthritis Therapy Market: Geographic Overview
Based on geography, the osteoarthritis therapy market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America accounted for the largest global osteoarthritis therapy market share. Asia Pacific is expected to register the highest CAGR during 2022–2030. China holds the largest market share of the osteoarthritis therapy market in Asia Pacific. According to the Frontiers S.A. report, with China having a high burden of an aging population, knee OA is the leading cause of disability, having a burden of huge healthcare costs among the Chinese population. Additionally, the National Institute of Health (NIH) reports that in rural China, symptomatic knee OA is more prevalent (16.57%), and this incidence has increased significantly among the population aged 70 years and above (29.25% among women and 24.71% among men). Therefore, traditional Chinese medicines (TCM) have been accepted as a complementary therapy for knee OA. For example, acupuncture and Tai Chi are non-surgical treatment options for knee OA. Additionally, non-pharmacological treatment options to treat knee OA in China emphasize a multidisciplinary approach to reduce pain and disability among the Chinese population. Non-pharmacological options include patient education, occupational and physical therapy, aerobic exercises, social support, and weight loss. Also, knee OA among the Chinese population is treated by pharmacological therapies such as simple and opioid analgesics, non-steroidal anti-inflammatory drugs (NSAIDs), including COX-2 selective inhibitors, and injectable agents such as glucocorticoids and hyaluronan preparations. Therefore, the rising prevalence of knee OA among the aging Chinese population accelerates demand for innovative therapy options, dominating the market growth during the forecast period.
Industry Developments and Future Opportunities:
Various strategic developments by leading players operating in the osteoarthritis therapy market are listed below:
- In March 2022, Vision Quest Industries Inc. announced a new product launch, “OActive Align Osteoarthritis Knee Brace.” The OActive Align Osteoarthritis Knee Brace offers clinicians an easy solution for custom-fitting and aligning the braces to produce exceptional patient outcomes. The brace offers a unique combination of features that align the brace hinge axis, precisely fit the anatomy, and secure it in its most effective position for corrective pain relief.
Osteoarthritis Therapy Market: Competitive Landscape and Key Developments
Vision Quest Industries Inc, Dr PRP USA LLC, Estar Technologies Ltd, Zimmer Biomet Holdings Inc, DePuy Synthes Inc, Bioventus Inc, Omron Healthcare Inc, Exactech Inc, Medi GmbH & Co KG, and Zealmax Innovations Pvt Ltd are among the prominent companies in the osteoarthritis therapy market. These companies focus on new technologies, upgrading existing products, and geographic expansions to meet the growing consumer demand worldwide.