South & Central America Osteoarthritis Therapy Market

The South & Central America osteoarthritis therapy market was valued at US$ 345.44 million in 2022 and is expected to reach US$ 552.40 million by 2030; it is estimated to register a CAGR of 6.0% from 2022 to 2030.

More Effective Treatment Options Fuels South & Central America Osteoarthritis Therapy Market

Currently, there is no cure for OA. A group of clinical research scientists, through clinical trials, reveal that they are developing innovative treatment target options that can stop the progression of OA. For example, in November 2021, LG Chem company announced the initiation of a clinical trial for next-generation new drugs to treat arthritis. Additionally, in October 2021, Pacira BioSciences, Inc. announced the acquisition of Flexion Therapeutics to treat non-opioid pain management "ZILRETTA". The drug approved in 2017 is the first and only approved treatment for OA knee pain utilizing extended-release microsphere technology.

In September 2023, Sorrento Therapeutics, Inc. announced positive Phase 2 top-line clinical trial results for the "Resiniferatoxin (RTX) program". The Phase 2 trial is a multi-center, double-blind, placebo, and active-controlled study assessing the efficacy and safety of several dose groups of RTX to manage pain in patients with moderate-to-severe OAK. Also, Sorrento decided to include an active approved competitor drug, "Zilretta," in the current clinical trial protocol.

South & Central America Osteoarthritis Therapy Market Overview

South & Central America countries comprises Brazil, Argentina, and Rest of South & Central America. The new product launches by the manufacturers to stay ahead in the competitive market is a significant factor responsible for market growth in South & Central America region. According to the Researchgate report, in Brazil, the prevalence of osteoarthritis is 33% among individuals over the age of 25, resulting in an estimated 40 million people suffering from the disorder. Additionally, the Korean Knee Society report reveals that osteoarthritis affects ~4% of the adult population in Brazil. The new product launches by the manufacturers to stay ahead in the competitive market is a significant factor responsible for market growth. For instance, in October 2018, Bioventus announced approval for "DUROLANE" from Agência Nacional de Vigilância Sanitária (ANVISA). The newly launched product is a single injection for OA treatment in Brazil. ANVISA approved DUROLANE for the symptomatic treatment of mild to moderate knee and hip OA. Therefore, innovative product launches in Brazil to treat osteoarthritis fuel the market growth.

South & Central America Osteoarthritis Therapy Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Osteoarthritis Therapy Strategic Insights

Strategic insights for the South & Central America Osteoarthritis Therapy provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Osteoarthritis Therapy Report Scope

South & Central America Osteoarthritis Therapy Regional Insights

The geographic scope of the South & Central America Osteoarthritis Therapy refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Osteoarthritis Therapy Market Segmentation 

The South & Central America osteoarthritis therapy market is categorized into therapy type, disease indications, end user, and country.

Based on therapy type, the South & Central America osteoarthritis therapy market is segmented into transcutaneous electrical nerve stimulation (TENS), occupational therapy, physical therapy, platelet-rich plasma (PRP) therapy & stromal vascular fraction, prolotherapy, and others. The physical therapy segment held the largest market share in 2022.

In terms of disease indications, the South & Central America osteoarthritis therapy market is segmented into knee osteoarthritis, spine osteoarthritis, foot and ankle osteoarthritis, shoulder osteoarthritis, hand osteoarthritis, and others. The knee osteoarthritis segment held the largest share of South & Central America in 2022.

Based on end user, the South & Central America osteoarthritis therapy market is categorized into hospitals and clinics, specialty clinics, ambulatory surgical center, homecare, and others. The homecare segment held the largest share of South & Central America in 2022.

By country, the South & Central America osteoarthritis therapy market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America share in 2022.

Zimmer Biomet Holdings Inc, DePuy Synthes Inc, Bioventus Inc, and Omron Healthcare Inc are some of the leading companies operating in the South & Central America osteoarthritis therapy market.