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Osteoarthritis Market Is Estimated To Reach $930 Bn by 2031 | Sheer Analytics and Insights
The Global Osteoarthritis Market was valued at $250 billion in 2020. Growing at a high CAGR of 12.7% between 2021 and 2031, it is estimated to reach $930 billion by 2031.
Asia-Pacific region is anticipated to be the most lucrative destination for osteoarthritis surgical treatment in terms of market share. The revenue generation from this region is expected to increase at a CAGR of 17.6% over the forecast period. Europe and North America are other attractive regions in terms of market share. However, the revenue in these regions is expected to increase at competitive CAGRs of 9.6% and 10.7% in the global osteoarthritis market. Revenue generation of osteoarthritis treatment in the Latin America, Middle East, and Africa (LAMEA) region is estimated to be valued at $26.69 Bn by the end of 2021. It is expected to increase at a CAGR of 16.1% over the forecast period. The report covers a detailed analysis of the osteoarthritis treatment arena on a permanent and temporary basis.
Obesity is one of the most common reasons cause osteoarthritis in most people worldwide. The other reasons for osteoarthritis are the increasing geriatric population, busy lifestyle, injury due to high physical stress in sports, fieldwork, and weight training. According to OECD, U.S. has an obese population of more than 36% in 2021 and is ranked 12th in the health index. While globally, around 12.6% population is obese, and around 32% of them are suffering from osteoarthritis problems. Osteoarthritis is primarily found in women more than men. Medical tourism has encouraged the treatment of osteoarthritis. As per Sheer Analytics, it has been found that the average treatment cost for any replacement is six times higher in developed nations. It is estimated that in developed countries, osteoarthritis cost is between USD 20000 to 50000, while in developing regions, its cost is around USD 3000-6000.
According to our study, key players in the Global Osteoarthritis Market include Abbott Laboratories, Anika Therapeutics, Inc., Bayer AG, Bioventus LLC, Eli Lilly and Company, Ferring Pharmaceuticals, Fidia Farmaceutici SPA, Flexion Therapeutics, GlaxoSmithKline PLC (GSK), Horizon Therapeutics Plc., Johnson & Johnson, Novartis International AG, Novo Nordisk A/S, Pfizer Inc., Pharmed Ltd, Sanofi S.A., and Zimmer Biomet Holding Inc.
Click full report with ToC: https://www.sheeranalyticsandinsights.com/