The most recent study conducted by Report Ocean, titled “Global Osteoarthritis Gene Therapy Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Osteoarthritis Gene Therapy. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Osteoarthritis Gene Therapy Market is valued approximately USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Osteoarthritis is a type of arthritis. arthritis affects millions of people worldwide. It occurs due to wear down of the protective cartilage that cushions the ends of the bones.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The disorders most commonly affects joints in your hands, knees, hips, and spine. Rising prevalence of Osteoarthritis and increasing geriatric population are key driver for the growth of Osteoarthritis Gene Therapy. According to The Centers for Disease Control and Prevention’s estimates 1 in 4 (or 54.4 million) US adults have some form of arthritis, this figure is projected to reach 78 million by the year 2040 from 63 million in year 2020.
As per Database company Statista’s estimates in 2019, the incidence of osteoarthritis of the knee in Europe was approximately 576 per 100,000 females and 419 per 100,000 males, making it the most common location of osteoarthritis. Furthermore, osteoarthritis of the hand occurred in 226 women per 100,000 and 134 men per 100,000. Also, with the surging healthcare infrastructure in emerging economies and rising technological advancements in field of Osteoarthritis Gene Therapy, the adoption & demand for Osteoarthritis Gene Therapy is likely to increase the market growth during the forecast period. However, high treatment cost of Osteoarthritis Gene Therapy impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Osteoarthritis Gene Therapy market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to rising prevalence of osteoarthritis cases in the region. Whereas North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as increasing government investments in various R&D activities in cell-based research would create lucrative growth prospects for the Osteoarthritis Gene Therapy market across Asia-Pacific region.
Major market player included in this report are:
Flexion
GeneQuine
Novartis
Smith & Nephew
Genascence
Kolon TissueGene
Sanofi
Paraxel
Medipost co ltd
Mundipharma.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Site of Injection:
Synovium
Cartilage
By Vectors:
Non-viral
Retrovirus
Lentivirus
Adenovirus
Adeno-associated virus (AAV)
HSV
By End Use Industries:
Hospitals and clinics
Orthopedic Centers
Assisted living Facilities
Nursing Homes
Ambulatory Surgical Centers
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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