Research Nester published a report titled “Osteoarthritis Gene Therapy Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global osteoarthritis gene therapy market in terms of market segmentation by drug type, purchasing pattern, distribution channel, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global osteoarthritis gene therapy market is anticipated to grow at a ~8% CAGR during the forecast period, i.e., 2022 – 2031. Factors, such as, low-cost pain medication and affordable therapy, convenient administration, and increasing cases of osteoarthritis among the global population are projected to hike the growth of the global osteoarthritis gene market over the forecast period. Additionally, a significant rise in the number of the geriatric population is also anticipated to propel the market growth during the forecast period. In 2019, data released by United Nations (UN) demonstrated that 703 million people were aged 65 and over. Additionally, a large portion of the global population is showing interest in gene therapy to treat osteoarthritis. A report released by Yale University represented the data that 1.09 million people are estimated to receive gene therapy throughout the forecast period.
Furthermore, based on drug type, the global osteoarthritis gene therapy market is segmented into NSAIDs, corticosteroids, viscosupplementation agents, and analgesics. Out of these sub-segments, the viscosupplementation agents segment is projected to hold the largest share in the market over the forecast period. The growth of the segment is ascribed to the rising cases of knee osteoarthritis owing to a significant alteration in people’s lifestyle. For instance, it was noticed that about 200 people out of 10,000 are diagnosed with osteoarthritis annually on a global scale.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Additionally, by region, the global osteoarthritis gene therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the Europe region is projected to provide the potential for noteworthy growth of the market during the forecast period. The growth of the market is accounted to the factors, such as, growing geriatric population with higher osteoarthritis cases, and easy availability of efficient healthcare facilities in the region. Moreover, about 90 million people in the Europe region are estimated to be 65 or over it.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Presence of Genetic Components in Osteoarthritis Disease to Propel the Growth of Osteoarthritis Gene Therapy Market
Cleveland Clinic published a report showing that 40 to 65% of osteoarthritis consists of generic components.
It has been observed in several studies that osteoarthritis diseaseis interlinked with some hereditary components that generally occurs at a very young age and has a higher tendency for areas near the hip and hand. Genetic osteoarthritis is not very common but delivers serious damageto the person. Such factors are estimated to boost the market growth.
However, the high prevalence of CVD risk due to the consumption of NSAIDs is expected to operate as a key restraint to the growth of the global osteoarthritis gene therapy market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global osteoarthritis gene therapy market which includes company profiling of Sanofi-aventis Groupe, Horizon Therapeutics plc, Hanmi Pharm. Co.,Ltd., Almatica Pharma Llc., Assertio Holdings, Inc., Flexion Therapeutic, Inc., Zimmer Biomet Holdings, Inc., Pfizer Inc., Virchow Biotech Privet Limited, and Bayer AG.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global osteoarthritis gene therapy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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