Top 8 Companies in the Osteoarthritis Therapeutics Market

The osteoarthritis therapeutics market was valued at USD 9.13 billion in 2023 driven by the rising prevalence of osteoarthritis across the 8 major markets. The market is anticipated to grow at a CAGR of 8.7% during the forecast period of 2024-2032 to achieve a value of USD 19.35 billion by 2032.

Osteoarthritis is the most common form of arthritis, resulting from the deterioration of the protective cartilage that cushions the bone ends. Although it can affect any joint, osteoarthritis most frequently impacts the hands, knees, hips, and spine. While the joint damage caused by osteoarthritis is irreversible, its symptoms are generally manageable. Staying active, maintaining a healthy weight, and undergoing specific treatments can help slow the disease's progression, alleviate pain, and improve joint function.

The market is significantly driven by the expanding elderly population experiencing a higher incidence of bone-related disorders. Joint problems, such as pain and discomfort during walking or exercise, are prevalent among older adults. Women over the age of 50 are more likely to develop osteoarthritis compared to men. According to the World Health Organization, by 2030, 1 in 6 people globally will be aged 60 or older, and by 2050, the number of individuals aged 60 and above is expected to reach 2.1 billion. Additionally, the population of those aged 80 and older is projected to triple from 2020 to 2050, reaching 426 million. These statistics suggest a significant increase in osteoarthritis cases in the coming years, directly contributing to the growth of the market.

In November 2024, Genascence Corporation (a clinical-stage biotechnology company) announced that the U.S. Food and Drug Administration (FDA) granted Fast Track Designation (FTD) for GNSC-001, their potential first-in-class gene therapy for the treatment of patients with osteoarthritis (OA) of the knee. Such approvals are expected to bring advanced treatment options into the market and address a wider section of the population, boosting the market value significantly.

Major Companies Shaping the Osteoarthritis Therapeutics Market in 2024

1.    Sanofi

Sanofi is a global leader in the pharmaceutical industry specialising in prescription medicines, vaccines, and consumer healthcare products. Their extensive portfolio covers therapeutic areas such as diabetes, oncology, immunology, and cardiovascular diseases. Sanofi is renowned for its innovative research and development initiatives, driving advancements in healthcare worldwide. In June 2024, the FDA approved Sanofi and Regeneron’s Kevzara (sarilumab) to treat active polyarticular juvenile idiopathic arthritis (pJIA) in patients weighing at least 63kg. The company serves a diverse range of markets, including hospitals, clinics, and research institutions, solidifying its prominent position in the global pharmaceutical landscape.

2.    Bayer AG

Bayer AG is a multinational pharmaceutical and life sciences company, renowned for its contributions to healthcare, agriculture, and materials science. Bayer offers a broad range of products, including cardiovascular medications, oncology treatments, and consumer health solutions. Their portfolio also includes innovative therapies and advanced research in biotechnology. Bayer AG is committed to enhancing global health through sustainable practices and cutting-edge technology, making it a key player in the international pharmaceutical market.

3.    Haleon plc

Haleon plc, following its spin-off from GlaxoSmithKline (GSK), is a dedicated consumer healthcare company that focuses on over-the-counter (OTC) drugs, oral care, vitamins, and nutritional supplements. Their portfolio includes well-known brands such as Sensodyne, Voltaren, and Panadol. Haleon leverages its extensive distribution network and strong brand presence to reach consumers globally. The company is committed to innovation and expanding its product offerings, positioning itself as a leading force in the consumer healthcare market.

4.    Bristol Myers Squibb

Bristol Myers Squibb is a leading global biopharmaceutical company focused on discovering, developing, and delivering innovative medicines for serious diseases. Their portfolio spans oncology, immunology, cardiovascular diseases, and fibrosis, featuring renowned drugs like Opdivo, Eliquis, and Revlimid. The company is committed to cutting-edge research and partnerships to advance medical breakthroughs. Bristol Myers Squibb serves hospitals, clinics, and research institutions worldwide, driving significant impact in the global healthcare landscape.

5.    Ono Pharmaceutical

Ono Pharmaceutical is a key player in the pharmaceutical industry specialising in the development and manufacturing of innovative medicines. Their portfolio includes treatments for cardiovascular diseases, diabetes, and central nervous system disorders. Ono is dedicated to research and development, focusing on novel therapies and improving patient outcomes. In May 2021, Ono Pharmaceutical Co., Ltd. and Seikagaku Corporation announced the launch of JOYCLU® 30mg Intra-articular Injection by Ono. The company collaborates with global partners to expand its market reach and enhance its product offerings. Ono Pharmaceutical is committed to advancing healthcare through high-quality and effective pharmaceutical solutions.

6.    Novartis AG

Novartis AG is one of the world’s largest pharmaceutical companies, Novartis specialises in innovative medicines, generics, and eye care products. Their portfolio covers a wide range of therapeutic areas, including oncology, cardiovascular, neuroscience, and immunology. Novartis is renowned for its commitment to research and development, driving advancements in medical science and patient care. In September 2021, the US Food and Drug Administration (FDA) granted fast-track designation for Novartis’s LNA043 for the treatment of osteoarthritis of the knee.

7.    Pfizer Inc.

Pfizer Inc. is a global leader in the pharmaceutical industry dedicated to discovering, developing, and manufacturing innovative medicines and vaccines. Their extensive portfolio includes treatments for oncology, immunology, cardiology, and infectious diseases, with notable products like Lipitor and the Pfizer-BioNTech COVID-19 vaccine. Pfizer is committed to advancing healthcare through cutting-edge research and strategic collaborations.

8.    Assertio Holdings

Assertio Holdings specialises in pharmaceutical products focusing on the development and distribution of affordable generic and branded medications. Their portfolio includes treatments for pain management, dermatology, gastrointestinal disorders, and respiratory conditions. Assertio Holdings is committed to providing high-quality, cost-effective healthcare solutions to improve patient access and outcomes. The company leverages strategic partnerships and innovative distribution channels to expand its market presence.