Arthralgia Drugs Market Is Predicted To Reach USD 89.04 Billion During The Forecast Period To 2029

Date

9/6/2022 3:16:40 AM

(MENAFN- EIN Presswire)

Arthralgia Drugs Market Global Key Players, Business, Industry, Technology, Revenue, Market Overview and Forecast to 2029

PUNE, MAHARASHTRA, INDIA, September 6, 2022 /EINPresswire.com / -- Arthralgia is a painful condition that affects one or more joints. Sharp, dull, stabbing, scorching, or throbbing pain might occur, and its intensity can range from mild to severe. Arthralgia can be caused by a variety of factors, including injury, infection, arthritis, and other illnesses. Arthritis, or inflammation of the joints, is the most prevalent cause. Joint pain is the most common symptom of arthralgia. Joint pain can strike suddenly or gradually intensify over time.

Data Bridge Market Research analyses that the arthralgia drugs market was valued at USD 64.56 billion in 2021 and is expected to reach USD 89.04 billion by 2029, registering a CAGR of 4.10% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Arthralgia Drugs Market Dynamics

Drivers
Rise in the incidences of obesity
The surging incidences of obesity is a major factor driving the arthralgia drugs market's growth rate. Obesity puts extra strain on the knees and hips, causing the cushion joints to wear down more quickly. According to a factsheet published by the World Health Organization (WHO) in February 2018, 1.9 billion persons over 18 were overweight in 2016, with 650 million of them being obese. Obesity is considered a major risk factor causing arthralgia and hence, influencing the market dynamics during the forecast period of 2022-2029.

Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of arthralgia drugs market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

Growing number of geriatric population
The surging geriatric population is estimated to enhance the market's expansion during the forecast period of 2022-2029. According to a factsheet published by the Centers for Disease Control and Prevention (CDC), between 2013 and 2015, 29.3 percent of people aged 45 to 64 and 49.6 percent of people aged 65 and up were diagnosed with arthritis in the United States. Geriatrics are more susceptible to get joint pain and further estimated to enhance the market's growth rate. Furthermore, rising initiatives by public and private organizations to spread awareness and rising healthcare expenditure will expand the arthralgia drugs market. Additionally, sedentary lifestyle of people and increasing number of cases of rheumatoid arthritis will result in the expansion of arthralgia drugs market.

Opportunities
Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the arthralgia drugs market growth. Along with this, rising drug approvals and launches will further propel the market's growth rate. Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for the arthralgia drugs market growth during the forecast period.

Some of the major players operating in the arthralgia drugs market are:
Pfizer Inc. (US)
GlaxoSmithKline plc (UK)
Novartis AG (Switzerland)
Mylan N.V. (US)
Teva Pharmaceutical Industries Ltd. (Israel)
Sanofi (France)
Boehringer Ingelheim International GmbH. (Germany)
AstraZeneca (UK)
Johnson & Johnson Private Limited (US)
Merck & Co., Inc. (US)
F. Hoffmann-La Roche Ltd. (Switzerland)
Bristol-Myers Squibb Company (US)
Eli Lilly and Company (US)
Allergan (Ireland)
Abbott (US)
LEO Pharma A/S (Denmark)
Sun Pharmaceutical Industries Ltd. (India)
Aurobindo Pharma (India)
Lupin (India)
Hikma Pharmaceuticals PLC (UK)
Amneal Pharmaceuticals LLC. (US)
Zydus Cadila (India)

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Global Arthralgia Drugs Market Scope
The arthralgia drugs market is segmented on the basis of drug type, dosage form, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drug Type
Non-steroidal anti-inflammatory (NSAID)
Corticosteroids
Antidepressants
Narcotics
Anticonvulsants
Antibiotics
Others

Dosage Form
Injection
Tablets
Cream
Others

Route of Administration
Topical
Parenteral
Oral
Others

End-Users
Hospitals
Specialty Clinics
Homecare
Others

Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Others

Arthralgia Drugs Market Regional Analysis/Insights
The arthralgia drugs market is analyzed and market size insights and trends are provided by country, drug type, dosage form, route of administration, end-users and distribution channel as referenced above. The countries covered in the arthralgia drugs market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the arthralgia drugs market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and rising healthcare expenditure will further propel the market's growth rate in this region. Asia-Pacific are expected to grow during the forecast period of 2022 to2029 due to surging prevalence of obesity and rising geriatric population in this region. Also, development of healthcare infrastructure will further propel the market's growth rate in this region.

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The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.