Canada Osteoarthritis Therapeutics Market is anticipated to
witness impressive growth during the forecast period. This can be ascribed to
the growing prevalence of osteoarthritis, along with growing advancements in
research and development activities for drug development across the region.
Additionally, the rise in drug approvals number and duration, along with
increasing demand for NSAIDs, is expected to create a lucrative growth during
the forecast period. Growing adoption of Visco-supplementation and high use of
these agents for pain relief is expected to increase the demand for
Osteoarthritis Therapeutics, thereby fuelling the market growth through 2028.
Furthermore, increasing awareness among the people, the availability of better
treatment options, and the willingness to take up treatment, are further
expected to increase the demand for Osteoarthritis Therapeutics, ultimately
supporting market growth. For instance, in September 2021, Indian drug
manufacturer, Lupin Limited, launched generic Duexis tablets used to treat the
symptoms of rheumatoid arthritis and osteoarthritis in the US.
Increasing Prevalence of OA
The increasing prevalence of osteoarthritis (OA) in Canada is a
significant factor driving the growth of the Canada OA therapeutics market. OA
is a common condition that affects millions of Canadians, and its prevalence is
expected to continue to rise in the coming years. The aging population is a key
contributor to this trend, as OA is more common in older adults. As the
prevalence of OA increases, the demand for effective treatments is also
increasing. This is creating a growing market for pharmaceutical and
non-pharmaceutical therapies for OA in Canada. The availability of various
treatment options, including both pharmacological and non-pharmacological
therapies, is contributing to the growth of the market. Furthermore, healthcare
providers are investing in developing new and innovative treatments for OA to
meet the growing demand. Technological advancements in the healthcare industry,
including the development of telemedicine and mobile health applications, are
also improving access to care, and enabling patients to manage their conditions
more effectively. These factors are expected to further drive the growth of the
Canada OA therapeutics market.
Availability of Various Treatment Options
The availability of various treatment options is a key factor
driving the growth of the Canada Osteoarthritis (OA) therapeutics market. There
are several pharmacological and non-pharmacological therapies available for the
treatment of OA in Canada, and this variety of options allows healthcare
providers to tailor treatment plans for individual patients. Pharmacological
therapies for OA include drugs such as nonsteroidal anti-inflammatory drugs
(NSAIDs), analgesics, corticosteroids, and hyaluronic acid injections.
Non-pharmacological therapies include exercise, physical therapy, and weight
loss programs. The availability of these treatment options is contributing to
the growth of the OA therapeutics market in Canada. Additionally, the
availability of different treatment options is increasing patient satisfaction
and improving treatment outcomes. Patients with OA can work with their
healthcare providers to develop personalized treatment plans that meet their
individual needs and preferences. This personalized approach can lead to
improved adherence to treatment and better patient outcomes. Moreover, the
availability of various treatment options is encouraging healthcare providers
to stay up to date with the latest treatments for OA. This, in turn, is leading
to the development of new and innovative therapies, further driving the growth
of the OA therapeutics market in Canada.
Growing Geriatric Population
The growing geriatric population is a significant factor driving
the growth of the Canada Osteoarthritis (OA) therapeutics market. OA is a
common condition among older adults, and as the population ages, the demand for
effective treatments for OA is increasing. The aging population is also
contributing to the development of new and innovative treatments for OA.
Healthcare providers are investing in developing treatments that are
specifically designed to meet the unique needs of older adults, including
treatments that are less invasive and have fewer side effects. This focus on
the development of new treatments is further driving the growth of the OA
therapeutics market in Canada. Moreover, the growing geriatric population is
also driving the adoption of telemedicine and mobile health applications. These
technologies are improving access to care for older adults, including those who
live in remote or rural areas. This improved access to care is also
contributing to the growth of the OA therapeutics market in Canada.
Technological Advancements
Technological advancements are playing a significant role in the
growth of the Canada Osteoarthritis (OA) therapeutics market. The development
of new technologies is improving the diagnosis, treatment, and management of
OA, which is driving the demand for OA therapeutics. The development of
biologic therapies is a boon for OA therapeutics market. Biologics are a type
of medication made from living cells and are used to treat a variety of
conditions, including OA. The availability of biologic therapies is expanding
the range of treatment options available for OA patients in Canada.
Telemedicine is another market driving factor. Telemedicine is the use of
technology to provide medical care remotely and has become increasingly popular
in Canada. Telemedicine enables healthcare providers to diagnose and treat
patients with OA without the need for in-person visits, improving access to
care and saving time and money for both patients and healthcare providers.
Moreover, the development of wearable technology and mobile health applications
is also improving the management of OA. Wearable technology such as fitness
trackers and smartwatches can monitor physical activity, heart rate, and sleep
patterns, providing valuable information to patients and healthcare providers.
Mobile health applications can also provide patients with information about
their condition, including exercise and diet recommendations, thereby helping
patients track their symptoms. In addition, the rise of digital health
technologies is also contributing to the development of new treatments for OA.
For example, a recent study conducted by researchers at the University of
Waterloo in Ontario found that a virtual reality program can be effective in
reducing pain and improving function in patients with knee OA.
Increasing Awareness On New Treatments for Osteoarthritis
Increasing awareness about osteoarthritis (OA) is a key factor
driving the growth of the Canada Osteoarthritis Therapeutics Market. As the
public becomes more aware of the condition, there arises a growing demand for
effective treatments for OA. One of the major drivers of increasing awareness
about OA is the rise of patient advocacy groups. These groups work to raise
awareness about OA and advocate for better treatment options for patients.
Patient advocacy groups also provide support and resources to patients and
their families, helping them to better manage the condition and improve their
quality of life. Another factor driving awareness about OA is the growing focus
on preventive healthcare. Healthcare providers are emphasizing the importance
of early diagnosis and treatment of OA, leading to an increase in screening and
diagnostic tests for the condition. This increased focus on prevention is also
leading to the development of new and innovative treatments for OA. Moreover,
the rise of digital media and social networking platforms is also contributing
to the awareness about OA. Patients and healthcare providers can access
information about OA through a variety of digital channels, including websites,
blogs, and social media platforms. This increased accessibility of information
is empowering patients to take an active role in their own care and treatment,
further driving the growth of the Canada OA therapeutics market.
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Recent Development
· In January 2021, Health Canada approved the use of Monovisc, a
single-injection hyaluronic acid therapy, for the treatment of OA of the knee.
Monovisc is designed to provide long-lasting relief for patients with OA, and
its approval has expanded the range of treatment options available for OA
patients in Canada.
· In March 2019, Pfizer Canada received approval for its Flector
Patch, a nonsteroidal anti-inflammatory drug (NSAID) used to treat the pain and
inflammation associated with OA. The patch delivers medication through the skin
and can be used for up to 12 hours per day.
· In February 2018, Flexion Therapeutics announced that Health
Canada had granted approval for its Zilretta product. Zilretta is a
sustained-release corticosteroid injection that is used to treat the pain
associated with knee osteoarthritis. The injection is designed to provide pain
relief for up to 12 weeks.
Market Segmentation
Canada Osteoarthritis Therapeutics market can be segmented by
Anatomy, by Drug Type, Distribution Channel, and Region. Based on Anatomy, the
market can be segmented into Knee Osteoarthritis, Hip Osteoarthritis, Hand
Osteoarthritis, and Small Joint Osteoarthritis. Based on Drug Type, the market
can be segmented into Visco supplementation Agents, Non-steroidal
Anti-inflammatory Drugs, Analgesics, and Corticosteroids. Based on distribution
channel, the market can be segmented into Hospital Pharmacies, Retail
Pharmacies, and Online Pharmacies.
Market Players
Abbott Canada., AstraZeneca Canada Inc, Novartis Pharmaceuticals
Canada Inc, Sanofi-Aventis Canada Inc., Boehringer Ingelheim (Canada) Ltd.,
Teva Canada Ltd., GlaxoSmithKline Inc/Canada., Apotex Inc. are some of the
leading players operating in the Canada Osteoarthritis Therapeutics Market.
Report Scope:
In this report, the Canada
Osteoarthritis Therapeutics market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
·
Canada Osteoarthritis Therapeutics Market, By Anatomy:
o
Knee Osteoarthritis
o
Hip Osteoarthritis
o
Hand Osteoarthritis
o
Small Joint Osteoarthritis
·
Canada Osteoarthritis Therapeutics Market, By
Drug Type:
o
Visco supplementation Agents
o
Non-steroidal Anti-inflammatory Drugs
o
Analgesics
o
Corticosteroids
·
Canada Osteoarthritis Therapeutics Market, By
Distribution Channel:
o
Hospital Pharmacies
o
Retail Pharmacies
o
Online Pharmacies
·
Canada Osteoarthritis Therapeutics Market,
By Region:
o
Ontario region
o
Quebec region
o
Alberta region
o
British Columbia region
o
Saskatchewan and Manitoba region
o
Rest of Canada
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Canada Osteoarthritis
Therapeutics Market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
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