Canada Osteoarthritis Drugs Market Insights Forecasts to 2033

• The Canada Osteoarthritis Drugs Market Size was valued at USD 790.5 Million in 2023.
• The Market Size is Growing at a CAGR of 8.34% from 2023 to 2033
• The Canada Osteoarthritis Drugs Market Size is expected to reach USD 1760.5 Million by 2033

 

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The Canada Osteoarthritis Drugs Market Size is anticipated to exceed USD 1760.5 Million by 2033, growing at a CAGR of 8.34% from 2023 to 2033. The increasing prevalence of osteoarthritis, drug development, demand for cell-based research activities, and growing geriatric population are driving the growth of the osteoarthritis drugs market in the Canada.     

 

Market Overview

Osteoarthritis is the most common type of arthritis that affects the joints of the hands, feet, hips, knees, and spine. Among Canadians aged 20 and over, almost 3.9 million (13.6%) have osteoarthritis, and 219,000 (8.7 per 1,000 persons annually) received a new diagnosis between 2016 and 2017. Disease-modifying osteoarthritis drugs (DMOADs) are used for managing osteoarthritis through oral, topical, and parenteral medication. They improve joint function, lessen inflammation, ease pain, and may even alter the underlying disease process through a variety of methods. The market is expected to rise owing to improvements in osteoarthritis therapy and drug research, the launch of customized osteoarthritis drugs, and improved accessibility to treatments across different healthcare institutions. The increasing focus on personalized medicine for osteoarthritis using biomarkers significantly drives market growth.

 

Report Coverage

This research report categorizes the market for the Canada osteoarthritis drugs market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada osteoarthritis drugs market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada osteoarthritis drugs market.

 

Driving Factors

The increased cases of osteoarthritis along with the rising geriatric population in the country is responsible for driving the market demand for osteoarthritis drugs. The increasing drug development of disease-modifying osteoarthritis drugs (DMOADs) is driving the market growth. The advancement in the development and pre-clinical evaluation of potential stem cell-based treatments for osteoarthritis are driving the market growth. In addition, the increasing investment by various government and non-government organizations in research and development activities of osteoarthritis for creating innovative therapies is anticipated to bolster the market growth.

 

Restraining Factors

The high cost of hyaluronic acid drugs and the adverse effects associated with therapies are challenging the Canada osteoarthritis drugs market.

 

Market Segmentation

The Canada Osteoarthritis Drugs Market share is classified into drug type, route of administration, anatomy, medication, and distribution channels.

 

• The viscosupplementation agents segment dominated the market with a significant market share in 2023.

The Canada osteoarthritis drugs market is segmented by drug type into viscosupplementation agents, nonsteroidal anti-inflammatory drugs, analgesics, corticosteroids, and others. Among these, the viscosupplementation agents segment dominated the market with a significant market share in 2023. Viscosupplementation agents are frequently used to treat knee osteoarthritis symptoms. The increasing demand for non-surgical osteoarthritis treatment and advancement in the development of hyaluronic acid-based therapies are anticipated to drive the market growth.

 

• The parenteral segment accounted for the largest market share during the forecast period.

The Canada osteoarthritis drugs market is segmented by route of administration into oral, parenteral, and topical. Among these, the parenteral segment accounted for the largest market share during the forecast period. For older individuals who might have gastrointestinal problems or have trouble swallowing tablets, parenteral administration routes provide an effective way for osteoarthritis medications. The ease of administration and better patient compliance are responsible for market growth in the parenteral segment.

 

• The knee osteoarthritis segment dominated the Canada osteoarthritis drugs market with the largest market share during the forecast period.       

Based on the anatomy, the Canada osteoarthritis drugs market is divided into ankle osteoarthritis, hip osteoarthritis, knee osteoarthritis, shoulder osteoarthritis, and others. Among these, the knee osteoarthritis segment dominated the Canada osteoarthritis drugs market with the largest market share during the forecast period. Knee osteoarthritis is the most common type of arthritis which increases with the growing age and obesity. The increasing emphasis on the development of better therapies and increasing prevalence are driving the market.

 

• The over-the-counter drugs segment accounted for the largest revenue share of the Canada osteoarthritis drugs market in 2023.

Based on the medication, the Canada osteoarthritis drugs market is divided into prescription drugs and over-the-counter drugs. Among these, the over-the-counter drugs segment accounted for the largest revenue share of the Canada osteoarthritis drugs market in 2023. NSAIDs, acetaminophen, and supplements are some of the topical and oral medications that are available OTC for treating mild to moderate osteoarthritis. The consumer preference for self-care alternatives and the availability of OTC medications are driving the market growth.

 

• The hospital pharmacies segment is anticipated to grow at the fastest CAGR during the forecast period.

Based on the distribution channels, the Canada osteoarthritis drugs market is divided into hospital pharmacies, retail pharmacies, and online pharmacy. Among these, the hospital pharmacies segment is anticipated to grow at the fastest CAGR during the forecast period. Hospital pharmacist helps patients with osteoarthritis manage their prescription regimens including dose modifications, drug counseling, adherence tracking, and therapy interventions to improve patient care and satisfaction. The increasing number of patients visiting hospitals for osteoarthritis treatment is contributing to driving the market.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada osteoarthritis drugs market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Pfizer Inc.
• Amgen Inc.
• Novartis AG
• Boehringer Ingelheim International GmbH
• Samsungbioepis Co. Ltd.
• Abbvie Inc.
• Sun Pharmaceutical Industries Ltd.
• Merck & Co Inc.
• AstraZeneca
• Zimmer Biomet
• Teva Pharmaceuticals Industries Ltd.
• Stryker Corporation
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

 

• In August 2024, PLT Health Solutions, Inc. announced that it has received an updated license from the Natural and Non-Prescription Health Products Directorate (NNHPD) of Health Canada to market its ingredient AprèsFlex 5-Day Joint Support Ingredient to support joint health in Canada.

 

• In March 2024, VSY Biotechnology GmbH announced that Health Canada had approved Reviscon Mono 2% (2.4 ml), a single-injection viscoelastic sodium hyaluronate solution designed to prevent pain and motion limitation associated with osteoarthritis in all synovial joints.

 

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Osteoarthritis Drugs Market based on the below-mentioned segments:

 

Canada Osteoarthritis Drugs Market, By Drug Type

• Viscosupplementation agents
• Nonsteroidal anti-inflammatory drugs
• Analgesics
• Corticosteroids
• Others

 

Canada Osteoarthritis Drugs Market, By Route of Administration

• Oral
• Parenteral
• Topical

 

Canada Osteoarthritis Drugs Market, By Anatomy

• Ankle osteoarthritis
• Hip osteoarthritis
• Knee osteoarthritis
• Shoulder osteoarthritis
• Others

 

Canada Osteoarthritis Drugs Market, By Medication

• Prescription drugs
• Over-the-counter drugs

 

Canada Osteoarthritis Drugs Market, By Distribution Channels

• Hospital pharmacies
• Retail pharmacies
• Online pharmacy