Knee Surgeries And Arthroplasty Pain Management Therapeutics Market

Knee Surgeries And Arthroplasty Pain Management Therapeutics Market Size (2023 to 2028)

The worldwide knee surgeries and arthroplasty pain management therapeutics market growth is expected to reach USD 5596.31 Million by 2028 from USD 4405.8 Million in 2023, with a CAGR of 4.9% during the forecast period 2023 to 2028.

Market Drivers:

Increased prevalence of Knee related complications: There has been an increased prevalence of Knee and Joint related complications which is a primary driving factor for the market, this can be directly attributed to a Sedimentary lifestyle and low intake of quality nutrition which has led to weaker joints which gets even more affected by increasing obesity putting more pressure on the Knees and Joints, Incidentally rough labor work also affects the Knee Surgeries And Arthroplasty Pain Management Therapeutics Market as continuous physical activities or injuries can cause osteoarthritis, which is one of the most common Knee complication. Approximately 790,000 total knee replacements are being performed annually in the U.S. alone, this number is estimated to keep rising during the forecast period.

Increased Aging Population: It is noticed and well-researched that the elderly are more susceptible to Knee related complications, Europe region has the highest Aging population which propels the Market and increases the Market Size. In Asia, Japan has the highest elderly population, with 27% of its population being 65 or older. In the year 2014, the percentage was about 25.8%, which indicated that the aging population is increasing at a steady rate.

Increased Awareness: Due to several technological advances and investments in research and development, better Pain management therapeutics are developed and available on the market. Arthroplasty can significantly improve a person’s life quality, Governments around the globe are trying to make healthcare more affordable and are heavily investing in the global Knee Surgeries And Arthroplasty Pain Management Therapeutics Market.

Therefore the increased prevalence of Knee and joint-related complications in the population is the primary market driver, Increased Geriatric population and Awareness due to government initiatives are expected to increase Market Growth.

Market Restraints:

High Cost of the Treatment: Knee Surgeries can be very expensive, often requiring multiple surgeries and follow-up treatments with continuous medication which can be a significant Market restraint for the consumers. Additionally, the cost of Pain management medications can also be very high, and depending on the type of insurance policy there can be limited coverage, some of the medications can be difficult to procure depending on government regulations even with the cost factor included.

The Side effects of the medications: The medications commonly used for pain management may have some unwanted side effects for instance Common side effects of Ketamine can include increased heart rate with Psychoactive impact and may cause anxiety and changes in the mood of the patients.  Opioids can cause respiratory complications and may be addictive if continuously taken other medications are known to affect the Liver and heart. These medications may not be suitable for people with pre-existing conditions which is often the case with the elderly population effectively reducing the Knee Surgeries And Arthroplasty Pain Management Therapeutics Market Size.

Impact of COVID-19 on the Knee Surgeries And Arthroplasty Pain Management Therapeutics Market:

The COVID-19 pandemic has affected every major large-scale industry and market, the Knee Surgeries And Arthroplasty Pain Management Therapeutics Market had a net negative impact due to the COVID-19 pandemic. Due to the fear of the virus people were avoiding the hospitals, the hospitals gave more importance to life-saving procedures and COVID-19 management over Knee Surgeries And Arthroplasty Pain Management Therapeutics, this had a major impact on the overall market as surgeries were delayed or canceled due to the overburden on the hospital staff, it is estimated that there was a 50%-45% drop in the Knee Surgeries performed during the covid19 lockdown period as compared to the Pre-Covid19 period. The use of strong opioids increased during the COVID-19 pandemic, despite the high for medications manufacturing activities were restricted due to supply chain disruptions, and the drug manufacturing industries focused more on COVID-19 medications. The Research and development efforts in the Knee Surgeries And Arthroplasty Pain Management Therapeutics Market were also impacted due to the Covid19.

Overall the COVID-19 pandemic hurt the global Knee Surgeries And Arthroplasty Pain Management Therapeutics Market, although the Market is expected to recover during the forecast period.

Report Coverage:

The knee surgeries and arthroplasty pain management therapeutics market is segmented and sub-segmented based on the following categories :

By Drug :

• Acetaminophen
• COX-2 inhibitor
• Opioids
• Non-steroidal Anti-inflammatories
• Ketamine

Opiods dominate the Market with the highest shares in the Global Knee Surgeries And Arthroplasty Pain Management Therapeutics Market with over 40% of shares, this is because Opiods are highly effective and are organic. Although Governments are trying to look for alternatives as Opioids can be very addictive and have psychotic effects on the users. COX-2 inhibitors are gaining significant shares in the market due to their ability to inhibit COX-2 which is the primary cause of inflammation and pain associated with Arthritis. 

By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• and Online Pharmacies

The hospital pharmacies register the highest shares in the Knee Surgeries And Arthroplasty Pain Management Therapeutics Market due to prevalence of the Knee related complications, the patients get a checkup and purchase medications directly. Retail pharmacies are showing rapid growth due to OTC pain management medications.

By Region type:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East Africa

The North American region dominates the Global Knee Surgeries And Arthroplasty Pain Management Therapeutics Market, this is due to the high awareness and presence of the leading industries, North American countries like the USA and Canada are leading in Knee Surgeries And Arthroplasty Pain Management Therapeutics Research and Development

Europe Region ranks second in the global Knee Surgeries And Arthroplasty Pain Management Therapeutics Market in terms of shares, this is due to a high number of Geriatic aging population in the region which has led to more cases of arthritis and other joint-related complications in the region.

Asia Pacific is the fastest growing market due to increased emphasis on the healthcare intrastate in the region by governments, Countries leading in the Knee Surgeries And Arthroplasty Pain Management Therapeutics Market are India, China, and Japan.

Latin America and the Middle East & Africa witness steep but steady growth during the forecast period due to economies developing and healthcare infrastructure. The market is expected to grow due to the rise in osteoarthritis in the regions.

Key Market Players:

Pfizer Inc, Financial Overview, Market Strategies, Allay Therapeutics, Mallinckrodt, Johnson & Johnson, Zydus Cadila Healthcare Ltd., Novartis AG, Purdue Pharma, Delphis Pharmaceutical, Taj Pharmaceuticals Limited, GlaxoSmithKline plc, AbbVie Inc.